ATGAX vs. FZFLX

Last updated Jun 3, 2026

ATGAX (Aquila Opportunity Growth Fund) and FZFLX (Fidelity SAI Small-Mid Cap 500 Index Fund) are both Mid Cap Blend Equities funds. At a correlation of -1.00, they often move in opposite directions. ATGAX charges 1.50%/yr vs 0.05%/yr for FZFLX.

Performance

ATGAX vs. FZFLX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Aquila Opportunity Growth Fund (ATGAX) and Fidelity SAI Small-Mid Cap 500 Index Fund (FZFLX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ATGAX

• 1D: 0.85%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

FZFLX

• 1D: 1.53%
• 1M: 6.05%
• YTD: 33.04%
• 6M: 33.74%
• 1Y: 48.52%
• 3Y*: 24.40%
• 5Y*: 12.03%
• 10Y*: 14.07%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ATGAX vs. FZFLX - Yearly Performance Comparison

	2026 (YTD)
ATGAX Aquila Opportunity Growth Fund	0.87%
FZFLX Fidelity SAI Small-Mid Cap 500 Index Fund	0.17%

Correlation

The correlation between ATGAX and FZFLX is -1.00, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 29, 2026	-1.00

Return for Risk

ATGAX vs. FZFLX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FZFLX

FZFLX Risk / Return Rank: 74
FZFLX Sharpe Ratio Rank: 71
FZFLX Sortino Ratio Rank: 58
FZFLX Omega Ratio Rank: 58
FZFLX Calmar Ratio Rank: 91
FZFLX Martin Ratio Rank: 93

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ATGAX vs. FZFLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Aquila Opportunity Growth Fund (ATGAX) and Fidelity SAI Small-Mid Cap 500 Index Fund (FZFLX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	ATGAX	FZFLX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.44	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.57	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.67	—
Sharpe Ratio (All Time) Calculated using the full available price history	30.24	0.63	+29.61

Drawdowns

ATGAX vs. FZFLX - Drawdown Comparison

The maximum ATGAX drawdown since its inception was 0.00%, smaller than the maximum FZFLX drawdown of -42.03%. Use the drawdown chart below to compare losses from any high point for ATGAX and FZFLX.

Drawdown Indicators

	ATGAX	FZFLX	Difference
Max Drawdown Largest peak-to-trough decline	0.00%	-42.03%	+42.03%
Max Drawdown (1Y) Largest decline over 1 year	—	-10.68%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-22.29%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-24.77%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-42.03%	—
Current Drawdown Current decline from peak	0.00%	-0.33%	+0.33%
Average Drawdown Average peak-to-trough decline	0.00%	-5.74%	+5.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.52%	—

Volatility

Volatility by Period

	ATGAX	FZFLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	7.41%	—
Volatility (6M) Calculated over the trailing 6-month period	—	17.71%	—
Volatility (1Y) Calculated over the trailing 1-year period	9.31%	20.84%	-11.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.31%	21.11%	-11.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.31%	21.11%	-11.80%

ATGAX vs. FZFLX - Expense Ratio Comparison

ATGAX has a 1.50% expense ratio, which is higher than FZFLX's 0.05% expense ratio.

Dividends

ATGAX vs. FZFLX - Dividend Comparison

ATGAX has not paid dividends to shareholders, while FZFLX's dividend yield for the trailing twelve months is around 43.42%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ATGAX Aquila Opportunity Growth Fund	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FZFLX Fidelity SAI Small-Mid Cap 500 Index Fund	43.42%	57.77%	10.20%	2.35%	79.79%	50.77%	7.19%	6.49%	7.69%	1.68%	0.93%	0.67%

Frequently Asked Questions

Can I hold both ATGAX and FZFLX in my portfolio?

ATGAX and FZFLX have a correlation of -1.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.