CAIFX vs. FDGFX

Last updated Jun 24, 2026

CAIFX (American Funds Capital Income Builder Fund Class F-2) and FDGFX (Fidelity Dividend Growth Fund) are both mutual funds - CAIFX is a Dividend fund actively managed by American Funds, while FDGFX is a Large Cap Blend Equities fund actively managed by Fidelity. Both are actively managed. Over the past 10 years, CAIFX returned 8.40%/yr vs 14.60%/yr for FDGFX. Their correlation of 0.85 suggests significant overlap in exposure. CAIFX charges 0.37%/yr vs 0.48%/yr for FDGFX.

Performance

CAIFX vs. FDGFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Funds Capital Income Builder Fund Class F-2 (CAIFX) and Fidelity Dividend Growth Fund (FDGFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CAIFX achieves a 7.58% return, which is significantly lower than FDGFX's 17.96% return. Over the past 10 years, CAIFX has underperformed FDGFX with an annualized return of 8.40%, while FDGFX has yielded a comparatively higher 14.60% annualized return.

CAIFX

• 1D: 0.06%
• 1M: 0.16%
• YTD: 7.58%
• 6M: 7.44%
• 1Y: 17.66%
• 3Y*: 15.26%
• 5Y*: 8.90%
• 10Y*: 8.40%

FDGFX

• 1D: -0.48%
• 1M: 2.77%
• YTD: 17.96%
• 6M: 17.07%
• 1Y: 38.96%
• 3Y*: 27.31%
• 5Y*: 16.25%
• 10Y*: 14.60%

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

CAIFX vs. FDGFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CAIFX American Funds Capital Income Builder Fund Class F-2	7.58%	20.63%	10.47%	9.21%	-6.95%	15.26%	3.41%	17.49%	-7.10%	14.19%
FDGFX Fidelity Dividend Growth Fund	17.96%	22.48%	27.58%	17.86%	-11.61%	27.96%	2.20%	28.75%	-7.23%	18.05%

Correlation

The correlation between CAIFX and FDGFX is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.76
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (10Y) Calculated over the trailing 10-year period	0.82
Correlation (All Time) Calculated using the full available price history since Aug 1, 2008	0.85

The correlation between CAIFX and FDGFX shifts across timeframes, from 0.74 (1 year) to 0.85 (all time), reflecting how their relationship changes across market environments.

Return for Risk

CAIFX vs. FDGFX — Risk / Return Rank

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

CAIFX

CAIFX Risk / Return Rank: 64
CAIFX Sharpe Ratio Rank: 67
CAIFX Sortino Ratio Rank: 68
CAIFX Omega Ratio Rank: 66
CAIFX Calmar Ratio Rank: 58
CAIFX Martin Ratio Rank: 60

FDGFX

FDGFX Risk / Return Rank: 86
FDGFX Sharpe Ratio Rank: 90
FDGFX Sortino Ratio Rank: 83
FDGFX Omega Ratio Rank: 81
FDGFX Calmar Ratio Rank: 86
FDGFX Martin Ratio Rank: 92

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.

CAIFX vs. FDGFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Funds Capital Income Builder Fund Class F-2 (CAIFX) and Fidelity Dividend Growth Fund (FDGFX). 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.

	CAIFX	FDGFX	Difference
Sharpe ratio: Return per unit of total volatility	2.21	2.76	-0.55
Sortino ratio: Return per unit of downside risk	3.13	3.63	-0.50
Omega ratio: Gain probability vs. loss probability	1.41	1.49	-0.08
Calmar ratio: Return relative to maximum drawdown	2.81	3.93	-1.13
Martin ratio: Return relative to average drawdown	11.13	17.27	-6.14

CAIFX vs. FDGFX - Sharpe Ratio Comparison

The current CAIFX Sharpe Ratio is 2.21, which is comparable to the FDGFX Sharpe Ratio of 2.76. The chart below compares the historical Sharpe Ratios of CAIFX and FDGFX, 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

CAIFX vs. FDGFX - Drawdown Comparison

The maximum CAIFX drawdown since its inception was -36.83%, smaller than the maximum FDGFX drawdown of -60.77%. Use the drawdown chart below to compare losses from any high point for CAIFX and FDGFX.

Drawdown Indicators

	CAIFX	FDGFX	Difference
Max Drawdown Largest peak-to-trough decline	-36.83%	-60.77%	+23.94%
Max Drawdown (1Y) Largest decline over 1 year	-6.47%	-10.16%	+3.69%
Max Drawdown (3Y) Largest decline over 3 years	-8.88%	-21.37%	+12.49%
Max Drawdown (5Y) Largest decline over 5 years	-17.51%	-21.37%	+3.86%
Max Drawdown (10Y) Largest decline over 10 years	-25.27%	-41.29%	+16.02%
Current Drawdown Current decline from peak	-0.66%	-0.48%	-0.18%
Average Drawdown Average peak-to-trough decline	-4.70%	-7.51%	+2.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.63%	2.31%	-0.68%

Volatility

CAIFX vs. FDGFX - Volatility Comparison

The current volatility for American Funds Capital Income Builder Fund Class F-2 (CAIFX) is 2.49%, while Fidelity Dividend Growth Fund (FDGFX) has a volatility of 6.05%. This indicates that CAIFX experiences smaller price fluctuations and is considered to be less risky than FDGFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CAIFX	FDGFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.49%	6.05%	-3.56%
Volatility (6M) Calculated over the trailing 6-month period	6.61%	11.72%	-5.11%
Volatility (1Y) Calculated over the trailing 1-year period	8.24%	14.51%	-6.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.00%	16.74%	-6.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.88%	19.29%	-8.41%

CAIFX vs. FDGFX - Expense Ratio Comparison

CAIFX has a 0.37% expense ratio, which is lower than FDGFX's 0.48% expense ratio.

Dividends

CAIFX vs. FDGFX - Dividend Comparison

CAIFX's dividend yield for the trailing twelve months is around 7.51%, less than FDGFX's 8.09% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CAIFX American Funds Capital Income Builder Fund Class F-2	7.51%	7.93%	5.98%	3.69%	3.66%	3.36%	3.60%	4.31%	3.76%	4.63%	3.73%	3.82%
FDGFX Fidelity Dividend Growth Fund	8.09%	9.35%	9.81%	3.48%	11.46%	7.81%	1.89%	4.84%	22.93%	15.35%	1.58%	8.44%

Frequently Asked Questions

Can I hold both CAIFX and FDGFX in my portfolio?

CAIFX and FDGFX have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CAIFX or FDGFX?

FDGFX has higher volatility (6.05%) compared to CAIFX (2.49%). In terms of maximum drawdown, CAIFX dropped -36.83% vs FDGFX's -60.77%.

Which has better risk-adjusted returns?

FDGFX currently has the higher Sharpe Ratio (2.76 vs 2.21), 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.