BCSSX vs. FECGX

Last updated Aug 1, 2026

BCSSX (Brown Capital Management Small Company Fund Institutional Shares) and FECGX (Fidelity Small Cap Growth Index Fund) are both Small Cap Growth Equities funds. BCSSX is actively managed, while FECGX is passively managed. Over the past 5 years, BCSSX returned -5.96%/yr vs 5.35%/yr for FECGX. Their correlation of 0.82 means they have usually moved in the same direction. BCSSX charges 1.12%/yr vs 0.05%/yr for FECGX.

Performance

BCSSX vs. FECGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Brown Capital Management Small Company Fund Institutional Shares (BCSSX) and Fidelity Small Cap Growth Index Fund (FECGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BCSSX achieves a 6.02% return, which is significantly lower than FECGX's 15.86% return.

BCSSX

• 1D: 0.50%
• 1M: 1.70%
• 6M: 14.43%
• YTD: 6.02%
• 1Y: 3.27%
• 3Y*: -0.50%
• 5Y*: -5.96%
• 10Y*: 6.20%
• ALL TIME*: 9.58%

FECGX

• 1D: 2.65%
• 1M: -3.50%
• 6M: 11.42%
• YTD: 15.86%
• 1Y: 31.92%
• 3Y*: 14.66%
• 5Y*: 5.35%
• 10Y*: —
• ALL TIME*: 10.05%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BCSSX Brown Capital Management Small Company Fund Institutional Shares	$0.00	$0.00	$0.00
FECGX Fidelity Small Cap Growth Index Fund	$0.00	$0.00	$0.00

BCSSX vs. FECGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
BCSSX Brown Capital Management Small Company Fund Institutional Shares	6.02%	-12.18%	10.05%	19.40%	-37.77%	-4.06%	45.51%	0.61%
FECGX Fidelity Small Cap Growth Index Fund	15.86%	13.04%	15.26%	18.90%	-26.17%	2.83%	34.41%	7.11%

Correlation

The correlation between BCSSX and FECGX is 0.55, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.55
Correlation (3Y) Balances recent behavior with more history.	0.73
Correlation (5Y) Shows whether the relationship held over a longer period.	0.80
Correlation (All Time) Calculated using the full available price history since Jul 17, 2019	0.82

Over the past year, the correlation between BCSSX and FECGX has dropped to 0.55 - well below their long-term average of 0.82, suggesting their price drivers have been diverging.

Return for Risk

BCSSX vs. FECGX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

BCSSX

BCSSX Risk / Return Rank: 5
BCSSX Sharpe Ratio Rank: 5
BCSSX Sortino Ratio Rank: 5
BCSSX Omega Ratio Rank: 5
BCSSX Calmar Ratio Rank: 5
BCSSX Martin Ratio Rank: 5

FECGX

FECGX Risk / Return Rank: 48
FECGX Sharpe Ratio Rank: 47
FECGX Sortino Ratio Rank: 49
FECGX Omega Ratio Rank: 40
FECGX Calmar Ratio Rank: 56
FECGX Martin Ratio Rank: 49

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

BCSSX vs. FECGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Brown Capital Management Small Company Fund Institutional Shares (BCSSX) and Fidelity Small Cap Growth Index Fund (FECGX). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	BCSSX	FECGX	Difference
Sharpe ratio: Return per unit of total volatility	0.07	1.27	-1.20
Sortino ratio: Return per unit of downside risk	0.27	1.85	-1.58
Omega ratio: Gain probability vs. loss probability	1.03	1.22	-0.18
Calmar ratio: Return relative to maximum drawdown	0.06	1.92	-1.86
Martin ratio: Return relative to average drawdown	0.15	6.64	-6.50

BCSSX vs. FECGX - Sharpe Ratio Comparison

The current BCSSX Sharpe Ratio is 0.07, which is lower than the FECGX Sharpe Ratio of 1.27. The chart below compares the historical Sharpe Ratios of BCSSX and FECGX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BCSSX vs. FECGX - Drawdown Comparison

The maximum BCSSX drawdown since its inception was -55.58%, which is greater than FECGX's maximum drawdown of -41.85%. Use the drawdown chart below to compare losses from any high point for BCSSX and FECGX.

Drawdown Indicators

	BCSSX	FECGX	Difference
Max Drawdown Largest peak-to-trough decline	-55.58%	-41.85%	-13.73%
Max Drawdown (1Y) Largest decline over 1 year	-26.65%	-14.81%	-11.84%
Max Drawdown (3Y) Largest decline over 3 years	-55.58%	-28.45%	-27.13%
Max Drawdown (5Y) Largest decline over 5 years	-55.58%	-40.34%	-15.24%
Max Drawdown (10Y) Largest decline over 10 years	-55.58%	—	—
Current Drawdown Current decline from peak	-39.30%	-5.23%	-34.07%
Average Drawdown Average peak-to-trough decline	-16.12%	-15.46%	-0.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.56%	4.28%	+7.28%

Volatility

BCSSX vs. FECGX - Volatility Comparison

Brown Capital Management Small Company Fund Institutional Shares (BCSSX) has a higher volatility of 6.16% compared to Fidelity Small Cap Growth Index Fund (FECGX) at 5.75%. This indicates that BCSSX's price experiences larger fluctuations and is considered to be riskier than FECGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BCSSX	FECGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.16%	5.75%	+0.41%
Volatility (6M) Calculated over the trailing 6-month period	18.17%	17.18%	+0.99%
Volatility (1Y) Calculated over the trailing 1-year period	23.02%	22.42%	+0.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	37.49%	24.68%	+12.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.36%	27.10%	+4.26%

BCSSX vs. FECGX - Expense Ratio Comparison

BCSSX has a 1.12% expense ratio, which is higher than FECGX's 0.05% expense ratio.

Dividends

BCSSX vs. FECGX - Dividend Comparison

BCSSX's dividend yield for the trailing twelve months is around 89.88%, more than FECGX's 0.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BCSSX Brown Capital Management Small Company Fund Institutional Shares	89.88%	95.29%	49.47%	8.99%	11.63%	9.04%	7.27%	8.43%	6.72%	5.85%	5.48%	9.07%
FECGX Fidelity Small Cap Growth Index Fund	0.47%	0.54%	1.25%	0.81%	0.80%	3.43%	1.00%	0.29%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BCSSX and FECGX in my portfolio?

BCSSX and FECGX have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BCSSX or FECGX?

BCSSX has higher volatility (6.16%) compared to FECGX (5.75%). In terms of maximum drawdown, BCSSX dropped -55.58% vs FECGX's -41.85%.

Which has better risk-adjusted returns?

FECGX currently has the higher Sharpe Ratio (1.27 vs 0.07), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.