FACGX vs. IWM

Last updated Jun 4, 2026

FACGX (Fidelity Advisor Growth Opportunities Fund Class C) and IWM (iShares Russell 2000 ETF) are both funds - FACGX is a Large Cap Growth Equities fund managed by Fidelity, while IWM is a Small Cap Blend Equities fund tracking the Russell 2000 Index. Over the past 10 years, FACGX returned 21.22%/yr vs 10.93%/yr for IWM. Their correlation of 0.81 suggests significant overlap in exposure. FACGX charges 1.80%/yr vs 0.19%/yr for IWM.

Performance

FACGX vs. IWM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Growth Opportunities Fund Class C (FACGX) and iShares Russell 2000 ETF (IWM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with FACGX having a 16.37% return and IWM slightly higher at 17.07%. Over the past 10 years, FACGX has outperformed IWM with an annualized return of 21.22%, while IWM has yielded a comparatively lower 10.93% annualized return.

FACGX

• 1D: -0.07%
• 1M: 8.70%
• YTD: 16.37%
• 6M: 17.48%
• 1Y: 39.58%
• 3Y*: 30.73%
• 5Y*: 12.65%
• 10Y*: 21.22%

IWM

• 1D: -1.37%
• 1M: 3.52%
• YTD: 17.07%
• 6M: 15.83%
• 1Y: 39.10%
• 3Y*: 17.88%
• 5Y*: 6.11%
• 10Y*: 10.93%

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

FACGX vs. IWM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FACGX Fidelity Advisor Growth Opportunities Fund Class C	16.37%	21.26%	37.68%	44.06%	-38.87%	10.46%	67.34%	39.19%	14.13%	33.63%
IWM iShares Russell 2000 ETF	17.07%	12.66%	11.38%	16.83%	-20.48%	14.54%	20.03%	25.39%	-11.12%	14.58%

Correlation

The correlation between FACGX and IWM is 0.63, 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	0.63
Correlation (3Y) Calculated over the trailing 3-year period	0.66
Correlation (5Y) Calculated over the trailing 5-year period	0.76
Correlation (10Y) Calculated over the trailing 10-year period	0.74
Correlation (All Time) Calculated using the full available price history since May 30, 2000	0.81

The correlation between FACGX and IWM shifts across timeframes, from 0.63 (1 year) to 0.81 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FACGX vs. IWM — Risk / Return Rank

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

FACGX

FACGX Risk / Return Rank: 48
FACGX Sharpe Ratio Rank: 58
FACGX Sortino Ratio Rank: 47
FACGX Omega Ratio Rank: 49
FACGX Calmar Ratio Rank: 42
FACGX Martin Ratio Rank: 43

IWM

IWM Risk / Return Rank: 62
IWM Sharpe Ratio Rank: 59
IWM Sortino Ratio Rank: 59
IWM Omega Ratio Rank: 53
IWM Calmar Ratio Rank: 70
IWM Martin Ratio Rank: 67

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.

FACGX vs. IWM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Growth Opportunities Fund Class C (FACGX) and iShares Russell 2000 ETF (IWM). 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.

	FACGX	IWM	Difference
Sharpe ratio Return per unit of total volatility	2.23	2.05	+0.18
Sortino ratio Return per unit of downside risk	2.90	2.85	+0.04
Omega ratio Gain probability vs. loss probability	1.39	1.34	+0.05
Calmar ratio Return relative to maximum drawdown	2.48	3.56	-1.08
Martin ratio Return relative to average drawdown	9.16	12.64	-3.48
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FACGX vs. IWM - Sharpe Ratio Comparison

The current FACGX Sharpe Ratio is 2.23, which is comparable to the IWM Sharpe Ratio of 2.05. The chart below compares the historical Sharpe Ratios of FACGX and IWM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FACGX	IWM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.23	2.05	+0.18
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.51	0.27	+0.24
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.89	0.48	+0.42
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	0.37	+0.09

Drawdowns

FACGX vs. IWM - Drawdown Comparison

The maximum FACGX drawdown since its inception was -65.53%, which is greater than IWM's maximum drawdown of -59.05%. Use the drawdown chart below to compare losses from any high point for FACGX and IWM.

Drawdown Indicators

	FACGX	IWM	Difference
Max Drawdown Largest peak-to-trough decline	-65.53%	-59.05%	-6.48%
Max Drawdown (1Y) Largest decline over 1 year	-16.45%	-11.03%	-5.42%
Max Drawdown (3Y) Largest decline over 3 years	-26.70%	-27.50%	+0.80%
Max Drawdown (5Y) Largest decline over 5 years	-45.17%	-31.91%	-13.26%
Max Drawdown (10Y) Largest decline over 10 years	-45.17%	-41.13%	-4.04%
Current Drawdown Current decline from peak	-0.07%	-1.49%	+1.42%
Average Drawdown Average peak-to-trough decline	-16.14%	-10.77%	-5.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.44%	3.10%	+1.34%

Volatility

FACGX vs. IWM - Volatility Comparison

The current volatility for Fidelity Advisor Growth Opportunities Fund Class C (FACGX) is 4.48%, while iShares Russell 2000 ETF (IWM) has a volatility of 5.75%. This indicates that FACGX experiences smaller price fluctuations and is considered to be less risky than IWM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FACGX	IWM	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.48%	5.75%	-1.27%
Volatility (6M) Calculated over the trailing 6-month period	14.26%	13.53%	+0.73%
Volatility (1Y) Calculated over the trailing 1-year period	18.26%	19.20%	-0.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.84%	22.52%	+2.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.90%	23.04%	+0.86%

FACGX vs. IWM - Expense Ratio Comparison

FACGX has a 1.80% expense ratio, which is higher than IWM's 0.19% expense ratio.

Dividends

FACGX vs. IWM - Dividend Comparison

FACGX's dividend yield for the trailing twelve months is around 4.52%, more than IWM's 0.88% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FACGX Fidelity Advisor Growth Opportunities Fund Class C	4.52%	5.26%	0.00%	0.00%	0.00%	11.75%	6.13%	4.87%	14.01%	8.00%	17.39%	12.23%
IWM iShares Russell 2000 ETF	0.88%	1.04%	1.15%	1.35%	1.48%	0.94%	1.04%	1.26%	1.40%	1.26%	1.38%	1.54%

Frequently Asked Questions

Can I hold both FACGX and IWM in my portfolio?

FACGX and IWM have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FACGX or IWM?

IWM has higher volatility (5.75%) compared to FACGX (4.48%). In terms of maximum drawdown, FACGX dropped -65.53% vs IWM's -59.05%.

Which has better risk-adjusted returns?

FACGX currently has the higher Sharpe Ratio (2.23 vs 2.05), 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.