CPIEX vs. FAGIX

Last updated Aug 1, 2026

CPIEX (Counterpoint Tactical Equity Fund) and FAGIX (Fidelity Capital & Income Fund) are both mutual funds - CPIEX is a Long-Short fund managed by Counterpoint Mutual Funds, while FAGIX is a High Yield Bonds fund actively managed by Fidelity. Over the past 10 years, CPIEX returned 8.11%/yr vs 7.47%/yr for FAGIX. Their 0.35 correlation means their historical movements had little consistent relationship. CPIEX charges 1.75%/yr vs 0.67%/yr for FAGIX.

Performance

CPIEX vs. FAGIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Counterpoint Tactical Equity Fund (CPIEX) and Fidelity Capital & Income Fund (FAGIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CPIEX achieves a 7.33% return, which is significantly higher than FAGIX's 5.47% return. Over the past 10 years, CPIEX has outperformed FAGIX with an annualized return of 8.11%, while FAGIX has yielded a comparatively lower 7.47% annualized return.

CPIEX

• 1D: 2.32%
• 1M: -1.08%
• 6M: 4.48%
• YTD: 7.33%
• 1Y: 14.96%
• 3Y*: 19.55%
• 5Y*: 20.02%
• 10Y*: 8.11%
• ALL TIME*: 7.35%

FAGIX

• 1D: 1.00%
• 1M: -1.59%
• 6M: 3.79%
• YTD: 5.47%
• 1Y: 11.22%
• 3Y*: 11.21%
• 5Y*: 6.17%
• 10Y*: 7.47%
• ALL TIME*: 6.07%

*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)
CPIEX Counterpoint Tactical Equity Fund	$0.00	$0.00	$0.00
FAGIX Fidelity Capital & Income Fund	$0.00	$0.00	$0.00

CPIEX vs. FAGIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CPIEX Counterpoint Tactical Equity Fund	7.33%	10.21%	37.75%	6.18%	12.15%	54.08%	-29.20%	-7.69%	-3.17%	14.15%
FAGIX Fidelity Capital & Income Fund	5.47%	12.38%	10.69%	13.02%	-11.50%	11.13%	9.95%	18.96%	-7.17%	11.66%

Correlation

The correlation between CPIEX and FAGIX is 0.80, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.80
Correlation (3Y) Balances recent behavior with more history.	0.59
Correlation (5Y) Shows whether the relationship held over a longer period.	0.29
Correlation (10Y) Provides a long-term view across more market conditions.	0.35
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016	0.35

Over the past year, CPIEX and FAGIX have become more correlated (0.80) than their long-term average of 0.35, meaning their price movements have been converging.

Return for Risk

CPIEX vs. FAGIX — Risk / Return Rank

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

CPIEX

CPIEX Risk / Return Rank: 39
CPIEX Sharpe Ratio Rank: 35
CPIEX Sortino Ratio Rank: 34
CPIEX Omega Ratio Rank: 33
CPIEX Calmar Ratio Rank: 55
CPIEX Martin Ratio Rank: 40

FAGIX

FAGIX Risk / Return Rank: 74
FAGIX Sharpe Ratio Rank: 69
FAGIX Sortino Ratio Rank: 66
FAGIX Omega Ratio Rank: 67
FAGIX Calmar Ratio Rank: 83
FAGIX Martin Ratio Rank: 84

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.

CPIEX vs. FAGIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Counterpoint Tactical Equity Fund (CPIEX) and Fidelity Capital & Income Fund (FAGIX). 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.

	CPIEX	FAGIX	Difference
Sharpe ratio: Return per unit of total volatility	1.07	1.55	-0.48
Sortino ratio: Return per unit of downside risk	1.53	2.20	-0.67
Omega ratio: Gain probability vs. loss probability	1.19	1.28	-0.09
Calmar ratio: Return relative to maximum drawdown	1.90	2.72	-0.82
Martin ratio: Return relative to average drawdown	5.74	10.26	-4.52

CPIEX vs. FAGIX - Sharpe Ratio Comparison

The current CPIEX Sharpe Ratio is 1.07, which is lower than the FAGIX Sharpe Ratio of 1.55. The chart below compares the historical Sharpe Ratios of CPIEX and FAGIX, 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

CPIEX vs. FAGIX - Drawdown Comparison

The maximum CPIEX drawdown since its inception was -48.20%, which is greater than FAGIX's maximum drawdown of -37.97%. Use the drawdown chart below to compare losses from any high point for CPIEX and FAGIX.

Drawdown Indicators

	CPIEX	FAGIX	Difference
Max Drawdown Largest peak-to-trough decline	-48.20%	-37.97%	-10.23%
Max Drawdown (1Y) Largest decline over 1 year	-7.29%	-4.02%	-3.27%
Max Drawdown (3Y) Largest decline over 3 years	-7.30%	-7.26%	-0.04%
Max Drawdown (5Y) Largest decline over 5 years	-9.76%	-15.42%	+5.66%
Max Drawdown (10Y) Largest decline over 10 years	-48.20%	-28.45%	-19.75%
Current Drawdown Current decline from peak	-5.14%	-3.07%	-2.07%
Average Drawdown Average peak-to-trough decline	-9.77%	-6.97%	-2.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.40%	1.06%	+1.34%

Volatility

CPIEX vs. FAGIX - Volatility Comparison

Counterpoint Tactical Equity Fund (CPIEX) has a higher volatility of 4.70% compared to Fidelity Capital & Income Fund (FAGIX) at 2.24%. This indicates that CPIEX's price experiences larger fluctuations and is considered to be riskier than FAGIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CPIEX	FAGIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.70%	2.24%	+2.46%
Volatility (6M) Calculated over the trailing 6-month period	9.55%	5.94%	+3.61%
Volatility (1Y) Calculated over the trailing 1-year period	12.87%	7.04%	+5.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.59%	6.79%	+5.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.79%	7.84%	+4.95%

CPIEX vs. FAGIX - Expense Ratio Comparison

CPIEX has a 1.75% expense ratio, which is higher than FAGIX's 0.67% expense ratio.

Dividends

CPIEX vs. FAGIX - Dividend Comparison

CPIEX's dividend yield for the trailing twelve months is around 5.18%, more than FAGIX's 5.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CPIEX Counterpoint Tactical Equity Fund	5.18%	5.56%	2.16%	2.44%	3.05%	0.00%	0.00%	0.00%	3.40%	5.93%	0.00%	0.00%
FAGIX Fidelity Capital & Income Fund	5.05%	4.74%	5.02%	5.28%	10.25%	6.08%	4.59%	5.00%	5.67%	5.05%	4.57%	4.51%

Frequently Asked Questions

Can I hold both CPIEX and FAGIX in my portfolio?

CPIEX and FAGIX have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CPIEX or FAGIX?

CPIEX has higher volatility (4.70%) compared to FAGIX (2.24%). In terms of maximum drawdown, CPIEX dropped -48.20% vs FAGIX's -37.97%.

Which has better risk-adjusted returns?

FAGIX currently has the higher Sharpe Ratio (1.55 vs 1.07), 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.