FCAGX vs. FDEGX

Last updated Jun 26, 2026

FCAGX (Fidelity Advisor Small Cap Growth Fund Class A) and FDEGX (Fidelity Growth Strategies Fund) are both mutual funds - FCAGX is a Small Cap Growth Equities fund managed by Fidelity, while FDEGX is a Mid Cap Growth Equities fund managed by Fidelity. Over the past 10 years, FCAGX returned 15.21%/yr vs 12.76%/yr for FDEGX. Their correlation of 0.91 suggests significant overlap in exposure. FCAGX charges 1.29%/yr vs 0.63%/yr for FDEGX.

Performance

FCAGX vs. FDEGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Small Cap Growth Fund Class A (FCAGX) and Fidelity Growth Strategies Fund (FDEGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FCAGX achieves a 23.49% return, which is significantly higher than FDEGX's 12.80% return. Over the past 10 years, FCAGX has outperformed FDEGX with an annualized return of 15.21%, while FDEGX has yielded a comparatively lower 12.76% annualized return.

FCAGX

• 1D: 0.33%
• 1M: 3.98%
• YTD: 23.49%
• 6M: 19.55%
• 1Y: 41.64%
• 3Y*: 21.98%
• 5Y*: 7.74%
• 10Y*: 15.21%

FDEGX

• 1D: 0.63%
• 1M: 2.62%
• YTD: 12.80%
• 6M: 0.36%
• 1Y: 4.75%
• 3Y*: 17.33%
• 5Y*: 7.50%
• 10Y*: 12.76%

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

FCAGX vs. FDEGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FCAGX Fidelity Advisor Small Cap Growth Fund Class A	23.49%	10.88%	20.21%	18.72%	-25.57%	10.19%	36.01%	35.97%	-4.85%	28.62%
FDEGX Fidelity Growth Strategies Fund	12.80%	2.88%	26.57%	20.93%	-26.50%	21.30%	29.34%	36.59%	-6.92%	21.03%

Correlation

The correlation between FCAGX and FDEGX is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (10Y) Calculated over the trailing 10-year period	0.89
Correlation (All Time) Calculated using the full available price history since Nov 4, 2004	0.91

The correlation between FCAGX and FDEGX has been stable across timeframes, ranging from 0.89 to 0.91 - a consistent structural relationship.

Return for Risk

FCAGX vs. FDEGX — Risk / Return Rank

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

FCAGX

FCAGX Risk / Return Rank: 62
FCAGX Sharpe Ratio Rank: 56
FCAGX Sortino Ratio Rank: 51
FCAGX Omega Ratio Rank: 47
FCAGX Calmar Ratio Rank: 78
FCAGX Martin Ratio Rank: 78

FDEGX

FDEGX Risk / Return Rank: 5
FDEGX Sharpe Ratio Rank: 5
FDEGX Sortino Ratio Rank: 5
FDEGX Omega Ratio Rank: 5
FDEGX Calmar Ratio Rank: 5
FDEGX Martin Ratio Rank: 5

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.

FCAGX vs. FDEGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Small Cap Growth Fund Class A (FCAGX) and Fidelity Growth Strategies Fund (FDEGX). 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.

	FCAGX	FDEGX	Difference
Sharpe ratio: Return per unit of total volatility	1.82	0.17	+1.65
Sortino ratio: Return per unit of downside risk	2.47	0.38	+2.09
Omega ratio: Gain probability vs. loss probability	1.31	1.05	+0.26
Calmar ratio: Return relative to maximum drawdown	3.07	0.19	+2.88
Martin ratio: Return relative to average drawdown	12.22	0.48	+11.74

FCAGX vs. FDEGX - Sharpe Ratio Comparison

The current FCAGX Sharpe Ratio is 1.82, which is higher than the FDEGX Sharpe Ratio of 0.17. The chart below compares the historical Sharpe Ratios of FCAGX and FDEGX, 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

FCAGX vs. FDEGX - Drawdown Comparison

The maximum FCAGX drawdown since its inception was -61.19%, smaller than the maximum FDEGX drawdown of -85.96%. Use the drawdown chart below to compare losses from any high point for FCAGX and FDEGX.

Drawdown Indicators

	FCAGX	FDEGX	Difference
Max Drawdown Largest peak-to-trough decline	-61.19%	-85.96%	+24.77%
Max Drawdown (1Y) Largest decline over 1 year	-13.19%	-20.45%	+7.26%
Max Drawdown (3Y) Largest decline over 3 years	-28.76%	-26.04%	-2.72%
Max Drawdown (5Y) Largest decline over 5 years	-39.13%	-36.62%	-2.51%
Max Drawdown (10Y) Largest decline over 10 years	-39.13%	-36.62%	-2.51%
Current Drawdown Current decline from peak	-1.27%	-3.25%	+1.98%
Average Drawdown Average peak-to-trough decline	-11.46%	-36.77%	+25.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.31%	8.07%	-4.76%

Volatility

FCAGX vs. FDEGX - Volatility Comparison

Fidelity Advisor Small Cap Growth Fund Class A (FCAGX) and Fidelity Growth Strategies Fund (FDEGX) have volatilities of 8.06% and 7.82%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCAGX	FDEGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.06%	7.82%	+0.24%
Volatility (6M) Calculated over the trailing 6-month period	17.34%	19.80%	-2.46%
Volatility (1Y) Calculated over the trailing 1-year period	22.30%	22.93%	-0.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.68%	23.50%	+0.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.92%	22.12%	+0.80%

FCAGX vs. FDEGX - Expense Ratio Comparison

FCAGX has a 1.29% expense ratio, which is higher than FDEGX's 0.63% expense ratio.

Dividends

FCAGX vs. FDEGX - Dividend Comparison

FCAGX's dividend yield for the trailing twelve months is around 5.62%, while FDEGX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FCAGX Fidelity Advisor Small Cap Growth Fund Class A	5.62%	6.94%	1.20%	0.00%	0.00%	20.36%	8.58%	5.58%	14.80%	7.05%	0.79%	4.32%
FDEGX Fidelity Growth Strategies Fund	0.00%	0.00%	7.89%	0.05%	0.00%	14.15%	8.37%	3.65%	0.75%	0.05%	0.59%	0.13%

Frequently Asked Questions

Can I hold both FCAGX and FDEGX in my portfolio?

With a correlation of 0.90, FCAGX and FDEGX 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, FCAGX or FDEGX?

FCAGX has higher volatility (8.06%) compared to FDEGX (7.82%). In terms of maximum drawdown, FCAGX dropped -61.19% vs FDEGX's -85.96%.

Which has better risk-adjusted returns?

FCAGX currently has the higher Sharpe Ratio (1.82 vs 0.17), 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.