FARMX vs. FPI
FARMX (Fidelity Agricultural Productivity Fund) is Energy Equities fund managed by Fidelity, while FPI (Farmland Partners Inc.) is a stock. Over the past 5 years, FARMX returned 4.73%/yr vs -0.18%/yr for FPI. At a 0.40 correlation, their price movements are largely independent.
Performance
FARMX vs. FPI - Performance Comparison
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Returns By Period
In the year-to-date period, FARMX achieves a 16.91% return, which is significantly higher than FPI's 2.90% return.
FARMX
- 1D
- 0.14%
- 1M
- 0.24%
- YTD
- 16.91%
- 6M
- 16.46%
- 1Y
- 10.28%
- 3Y*
- 5.35%
- 5Y*
- 4.73%
- 10Y*
- —
FPI
- 1D
- 1.34%
- 1M
- -5.75%
- YTD
- 2.90%
- 6M
- 1.95%
- 1Y
- -10.41%
- 3Y*
- 0.65%
- 5Y*
- -0.18%
- 10Y*
- 3.37%
FARMX vs. FPI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
FARMX Fidelity Agricultural Productivity Fund | 16.91% | 7.99% | -4.83% | -11.61% | 13.68% | 23.36% | 53.58% |
FPI Farmland Partners Inc. | 2.90% | -14.11% | 5.66% | 3.99% | 6.09% | 39.70% | 47.33% |
Correlation
The correlation between FARMX and FPI is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.30 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.34 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.38 |
Correlation (All Time) Calculated using the full available price history since Apr 16, 2020 | 0.40 |
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Return for Risk
FARMX vs. FPI — Risk / Return Rank
FARMX
FPI
FARMX vs. FPI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Agricultural Productivity Fund (FARMX) and Farmland Partners Inc. (FPI). 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.
| FARMX | FPI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.08 | ||
| Sortino ratioReturn per unit of downside risk | +1.49 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 0.94 | +0.18 |
| Calmar ratioReturn relative to maximum drawdown | 0.99 | -0.42 | +1.41 |
| Martin ratioReturn relative to average drawdown | 1.92 | -0.88 | +2.80 |
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Drawdowns
FARMX vs. FPI - Drawdown Comparison
The maximum FARMX drawdown since its inception was -30.27%, smaller than the maximum FPI drawdown of -59.77%. Use the drawdown chart below to compare losses from any high point for FARMX and FPI.
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Drawdown Indicators
| FARMX | FPI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.27% | -59.77% | +29.50% |
Max Drawdown (1Y)Largest decline over 1 year | -9.89% | -25.09% | +15.20% |
Max Drawdown (3Y)Largest decline over 3 years | -19.81% | -25.09% | +5.28% |
Max Drawdown (5Y)Largest decline over 5 years | -30.27% | -39.88% | +9.61% |
Max Drawdown (10Y)Largest decline over 10 years | — | -57.44% | — |
Current DrawdownCurrent decline from peak | -6.16% | -24.69% | +18.53% |
Average DrawdownAverage peak-to-trough decline | -12.77% | -23.62% | +10.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.10% | 11.83% | -6.73% |
Volatility
FARMX vs. FPI - Volatility Comparison
The current volatility for Fidelity Agricultural Productivity Fund (FARMX) is 3.93%, while Farmland Partners Inc. (FPI) has a volatility of 5.62%. This indicates that FARMX experiences smaller price fluctuations and is considered to be less risky than FPI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FARMX | FPI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.93% | 5.62% | -1.69% |
Volatility (6M)Calculated over the trailing 6-month period | 12.13% | 18.64% | -6.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.81% | 23.07% | -7.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.90% | 28.18% | -9.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.65% | 35.65% | -16.00% |
Dividends
FARMX vs. FPI - Dividend Comparison
FARMX's dividend yield for the trailing twelve months is around 1.58%, less than FPI's 4.78% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FARMX Fidelity Agricultural Productivity Fund | 1.58% | 1.85% | 2.29% | 1.33% | 1.17% | 0.71% | 0.45% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
FPI Farmland Partners Inc. | 4.78% | 4.54% | 11.31% | 3.61% | 1.85% | 1.67% | 2.30% | 2.95% | 7.82% | 5.88% | 4.57% | 4.54% |
Frequently Asked Questions
FARMX and FPI have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FPI has higher volatility (5.62%) compared to FARMX (3.93%). In terms of maximum drawdown, FARMX dropped -30.27% vs FPI's -59.77%.
FARMX currently has the higher Sharpe Ratio (0.62 vs -0.45), 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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