EMCAX vs. FECGX
EMCAX (Empiric Fund) and FECGX (Fidelity Small Cap Growth Index Fund) are both Small Cap Growth Equities funds. Over the past 5 years, EMCAX returned 4.44%/yr vs 5.20%/yr for FECGX. Their correlation of 0.91 means they have usually moved in the same direction. EMCAX charges 1.96%/yr vs 0.05%/yr for FECGX.
Performance
EMCAX vs. FECGX - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with EMCAX having a 14.75% return and FECGX slightly higher at 15.06%.
EMCAX
- 1D
- 0.64%
- 1M
- -0.09%
- 6M
- 11.61%
- YTD
- 14.75%
- 1Y
- 18.45%
- 3Y*
- 11.84%
- 5Y*
- 4.44%
- 10Y*
- 10.93%
- ALL TIME*
- 9.18%
FECGX
- 1D
- -0.69%
- 1M
- -4.17%
- 6M
- 9.57%
- YTD
- 15.06%
- 1Y
- 31.00%
- 3Y*
- 14.61%
- 5Y*
- 5.20%
- 10Y*
- —
- ALL TIME*
- 9.94%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
EMCAX Empiric Fund | $0.00 | $0.00 | $0.00 |
| $0.00 | $0.00 | $0.00 |
EMCAX vs. FECGX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
EMCAX Empiric Fund | 14.75% | 2.37% | 13.89% | 12.43% | -16.06% | 16.07% | 27.81% | 2.48% |
FECGX Fidelity Small Cap Growth Index Fund | 15.06% | 13.04% | 15.26% | 18.90% | -26.17% | 2.83% | 34.41% | 7.11% |
Correlation
The correlation between EMCAX and FECGX is 0.78, 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. | 0.78 |
Correlation (3Y) Balances recent behavior with more history. | 0.83 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.89 |
Correlation (All Time) Calculated using the full available price history since Jul 17, 2019 | 0.91 |
The correlation between EMCAX and FECGX shifts across timeframes, from 0.78 (1 year) to 0.91 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
EMCAX vs. FECGX — Risk / Return Rank
EMCAX
FECGX
EMCAX vs. FECGX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Empiric Fund (EMCAX) 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.
| EMCAX | FECGX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.09 | ||
| Sortino ratioReturn per unit of downside risk | -0.06 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.22 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.00 | 1.93 | +0.07 |
| Martin ratioReturn relative to average drawdown | 7.29 | 6.66 | +0.63 |
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Drawdowns
EMCAX vs. FECGX - Drawdown Comparison
The maximum EMCAX drawdown since its inception was -51.81%, which is greater than FECGX's maximum drawdown of -41.85%. Use the drawdown chart below to compare losses from any high point for EMCAX and FECGX.
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Drawdown Indicators
| EMCAX | FECGX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.81% | -41.85% | -9.96% |
Max Drawdown (1Y)Largest decline over 1 year | -8.60% | -14.81% | +6.21% |
Max Drawdown (3Y)Largest decline over 3 years | -19.19% | -28.45% | +9.26% |
Max Drawdown (5Y)Largest decline over 5 years | -30.60% | -40.34% | +9.74% |
Max Drawdown (10Y)Largest decline over 10 years | -42.79% | — | — |
Current DrawdownCurrent decline from peak | -1.45% | -5.88% | +4.43% |
Average DrawdownAverage peak-to-trough decline | -13.21% | -15.45% | +2.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.36% | 4.29% | -1.93% |
Volatility
EMCAX vs. FECGX - Volatility Comparison
The current volatility for Empiric Fund (EMCAX) is 3.36%, while Fidelity Small Cap Growth Index Fund (FECGX) has a volatility of 5.73%. This indicates that EMCAX experiences smaller price fluctuations and is considered to be less risky than FECGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMCAX | FECGX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.36% | 5.73% | -2.37% |
Volatility (6M)Calculated over the trailing 6-month period | 11.49% | 17.19% | -5.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.57% | 22.43% | -7.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.12% | 24.68% | -6.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.17% | 27.10% | -6.93% |
EMCAX vs. FECGX - Expense Ratio Comparison
EMCAX has a 1.96% expense ratio, which is higher than FECGX's 0.05% expense ratio.
Dividends
EMCAX vs. FECGX - Dividend Comparison
EMCAX's dividend yield for the trailing twelve months is around 0.12%, less than FECGX's 0.47% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
EMCAX Empiric Fund | 0.12% | 0.13% | 0.13% | 0.00% | 0.00% | 0.51% | 7.46% | 0.00% |
FECGX Fidelity Small Cap Growth Index Fund | 0.47% | 0.54% | 1.25% | 0.81% | 0.80% | 3.43% | 1.00% | 0.29% |
Frequently Asked Questions
EMCAX and FECGX have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FECGX has higher volatility (5.73%) compared to EMCAX (3.36%). In terms of maximum drawdown, EMCAX dropped -51.81% vs FECGX's -41.85%.
FECGX currently has the higher Sharpe Ratio (1.28 vs 1.18), 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.
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