FAGOX vs. FCNTX

Last updated Aug 1, 2026

FAGOX (Fidelity Advisor Growth Opportunities Fund Class M) and FCNTX (Fidelity Contrafund) are both Large Cap Growth Equities funds from Fidelity. Over the past 10 years, FAGOX returned 20.43%/yr vs 16.85%/yr for FCNTX. Their correlation of 0.91 means they have usually moved in the same direction. FAGOX charges 1.28%/yr vs 0.39%/yr for FCNTX.

Performance

FAGOX vs. FCNTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Growth Opportunities Fund Class M (FAGOX) and Fidelity Contrafund (FCNTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FAGOX achieves a 7.18% return, which is significantly higher than FCNTX's 5.62% return. Over the past 10 years, FAGOX has outperformed FCNTX with an annualized return of 20.43%, while FCNTX has yielded a comparatively lower 16.85% annualized return.

FAGOX

• 1D: 3.39%
• 1M: -5.34%
• 6M: 8.26%
• YTD: 7.18%
• 1Y: 17.59%
• 3Y*: 23.67%
• 5Y*: 9.64%
• 10Y*: 20.43%
• ALL TIME*: 12.41%

FCNTX

• 1D: 0.95%
• 1M: -3.83%
• 6M: 3.61%
• YTD: 5.62%
• 1Y: 13.75%
• 3Y*: 22.98%
• 5Y*: 13.11%
• 10Y*: 16.85%
• ALL TIME*: 13.46%

*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)
FAGOX Fidelity Advisor Growth Opportunities Fund Class M	$0.00	$0.00	$0.00
FCNTX Fidelity Contrafund	$0.00	$0.00	$0.00

FAGOX vs. FCNTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FAGOX Fidelity Advisor Growth Opportunities Fund Class M	7.18%	21.86%	38.37%	44.80%	-38.56%	11.05%	68.19%	39.94%	14.61%	34.34%
FCNTX Fidelity Contrafund	5.62%	21.76%	36.00%	38.67%	-28.31%	24.52%	32.48%	30.00%	-3.81%	32.18%

Correlation

The correlation between FAGOX and FCNTX is 0.90, 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.	0.90
Correlation (3Y) Balances recent behavior with more history.	0.93
Correlation (5Y) Shows whether the relationship held over a longer period.	0.93
Correlation (10Y) Provides a long-term view across more market conditions.	0.93
Correlation (All Time) Calculated using the full available price history since Nov 18, 1987	0.91

The correlation between FAGOX and FCNTX has been stable across timeframes, ranging from 0.90 to 0.93 - a consistent structural relationship.

Return for Risk

FAGOX vs. FCNTX — Risk / Return Rank

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

FAGOX

FAGOX Risk / Return Rank: 22
FAGOX Sharpe Ratio Rank: 22
FAGOX Sortino Ratio Rank: 22
FAGOX Omega Ratio Rank: 22
FAGOX Calmar Ratio Rank: 22
FAGOX Martin Ratio Rank: 25

FCNTX

FCNTX Risk / Return Rank: 28
FCNTX Sharpe Ratio Rank: 27
FCNTX Sortino Ratio Rank: 26
FCNTX Omega Ratio Rank: 26
FCNTX Calmar Ratio Rank: 27
FCNTX Martin Ratio Rank: 33

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.

FAGOX vs. FCNTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Growth Opportunities Fund Class M (FAGOX) and Fidelity Contrafund (FCNTX). 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.

	FAGOX	FCNTX	Difference
Sharpe ratio: Return per unit of total volatility	0.75	0.87	-0.12
Sortino ratio: Return per unit of downside risk	1.15	1.29	-0.14
Omega ratio: Gain probability vs. loss probability	1.14	1.16	-0.02
Calmar ratio: Return relative to maximum drawdown	0.99	1.19	-0.20
Martin ratio: Return relative to average drawdown	3.39	4.65	-1.25

FAGOX vs. FCNTX - Sharpe Ratio Comparison

The current FAGOX Sharpe Ratio is 0.75, which is comparable to the FCNTX Sharpe Ratio of 0.87. The chart below compares the historical Sharpe Ratios of FAGOX and FCNTX, 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

FAGOX vs. FCNTX - Drawdown Comparison

The maximum FAGOX drawdown since its inception was -65.31%, which is greater than FCNTX's maximum drawdown of -49.19%. Use the drawdown chart below to compare losses from any high point for FAGOX and FCNTX.

Drawdown Indicators

	FAGOX	FCNTX	Difference
Max Drawdown Largest peak-to-trough decline	-65.31%	-49.19%	-16.12%
Max Drawdown (1Y) Largest decline over 1 year	-16.27%	-11.30%	-4.97%
Max Drawdown (3Y) Largest decline over 3 years	-26.64%	-19.75%	-6.89%
Max Drawdown (5Y) Largest decline over 5 years	-44.84%	-32.59%	-12.25%
Max Drawdown (10Y) Largest decline over 10 years	-44.84%	-32.59%	-12.25%
Current Drawdown Current decline from peak	-8.16%	-5.29%	-2.87%
Average Drawdown Average peak-to-trough decline	-13.51%	-8.14%	-5.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.74%	2.89%	+1.85%

Volatility

FAGOX vs. FCNTX - Volatility Comparison

Fidelity Advisor Growth Opportunities Fund Class M (FAGOX) has a higher volatility of 7.92% compared to Fidelity Contrafund (FCNTX) at 3.84%. This indicates that FAGOX's price experiences larger fluctuations and is considered to be riskier than FCNTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FAGOX	FCNTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.92%	3.84%	+4.08%
Volatility (6M) Calculated over the trailing 6-month period	17.87%	12.26%	+5.61%
Volatility (1Y) Calculated over the trailing 1-year period	21.52%	15.46%	+6.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.32%	19.37%	+5.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.10%	19.73%	+4.37%

FAGOX vs. FCNTX - Expense Ratio Comparison

FAGOX has a 1.28% expense ratio, which is higher than FCNTX's 0.39% expense ratio.

Dividends

FAGOX vs. FCNTX - Dividend Comparison

FAGOX's dividend yield for the trailing twelve months is around 3.93%, less than FCNTX's 4.42% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FAGOX Fidelity Advisor Growth Opportunities Fund Class M	3.93%	4.21%	0.00%	0.00%	0.00%	10.01%	5.29%	4.15%	12.10%	7.48%	15.51%	11.14%
FCNTX Fidelity Contrafund	4.42%	5.21%	4.19%	3.78%	11.87%	10.80%	8.01%	4.16%	7.46%	6.08%	3.81%	5.33%

Frequently Asked Questions

Can I hold both FAGOX and FCNTX in my portfolio?

With a correlation of 0.90, FAGOX and FCNTX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, FAGOX or FCNTX?

FAGOX has higher volatility (7.92%) compared to FCNTX (3.84%). In terms of maximum drawdown, FAGOX dropped -65.31% vs FCNTX's -49.19%.

Which has better risk-adjusted returns?

FCNTX currently has the higher Sharpe Ratio (0.87 vs 0.75), 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.