FCGSX vs. KMKNX

Last updated Jun 4, 2026

FCGSX (Fidelity Series Growth Company Fund) and KMKNX (Kinetics Market Opportunities Fund No Load Class) are both mutual funds - FCGSX is a Large Cap Growth Equities fund managed by Fidelity, while KMKNX is a Mid Cap Growth Equities fund actively managed by Kinetics. Over the past 10 years, FCGSX returned 24.67%/yr vs 19.45%/yr for KMKNX. At a 0.44 correlation, their price movements are largely independent. FCGSX charges 0.00%/yr vs 1.40%/yr for KMKNX.

Performance

FCGSX vs. KMKNX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Series Growth Company Fund (FCGSX) and Kinetics Market Opportunities Fund No Load Class (KMKNX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FCGSX achieves a 23.92% return, which is significantly higher than KMKNX's 10.78% return. Over the past 10 years, FCGSX has outperformed KMKNX with an annualized return of 24.67%, while KMKNX has yielded a comparatively lower 19.45% annualized return.

FCGSX

• 1D: 0.06%
• 1M: 8.76%
• YTD: 23.92%
• 6M: 25.96%
• 1Y: 56.65%
• 3Y*: 34.73%
• 5Y*: 19.86%
• 10Y*: 24.67%

KMKNX

• 1D: -0.44%
• 1M: -8.85%
• YTD: 10.78%
• 6M: 7.36%
• 1Y: -0.78%
• 3Y*: 32.82%
• 5Y*: 15.13%
• 10Y*: 19.45%

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

FCGSX vs. KMKNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FCGSX Fidelity Series Growth Company Fund	23.92%	25.52%	38.00%	45.97%	-32.15%	25.13%	70.01%	39.75%	-4.03%	37.69%
KMKNX Kinetics Market Opportunities Fund No Load Class	10.78%	-3.09%	84.05%	-7.34%	14.98%	28.03%	19.56%	22.76%	-10.68%	47.26%

Correlation

The correlation between FCGSX and KMKNX is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.27
Correlation (3Y) Calculated over the trailing 3-year period	0.31
Correlation (5Y) Calculated over the trailing 5-year period	0.40
Correlation (10Y) Calculated over the trailing 10-year period	0.40
Correlation (All Time) Calculated using the full available price history since Nov 20, 2013	0.44

The correlation between FCGSX and KMKNX shifts across timeframes, from 0.27 (1 year) to 0.44 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FCGSX vs. KMKNX — Risk / Return Rank

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

FCGSX

FCGSX Risk / Return Rank: 91
FCGSX Sharpe Ratio Rank: 95
FCGSX Sortino Ratio Rank: 86
FCGSX Omega Ratio Rank: 82
FCGSX Calmar Ratio Rank: 94
FCGSX Martin Ratio Rank: 97

KMKNX

KMKNX Risk / Return Rank: 3
KMKNX Sharpe Ratio Rank: 3
KMKNX Sortino Ratio Rank: 3
KMKNX Omega Ratio Rank: 3
KMKNX Calmar Ratio Rank: 3
KMKNX Martin Ratio Rank: 3

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.

FCGSX vs. KMKNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Series Growth Company Fund (FCGSX) and Kinetics Market Opportunities Fund No Load Class (KMKNX). 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.

	FCGSX	KMKNX	Difference
Sharpe ratio Return per unit of total volatility	3.32	0.01	+3.31
Sortino ratio Return per unit of downside risk	4.10	0.17	+3.93
Omega ratio Gain probability vs. loss probability	1.54	1.02	+0.52
Calmar ratio Return relative to maximum drawdown	5.62	0.01	+5.61
Martin ratio Return relative to average drawdown	25.64	0.03	+25.61
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FCGSX vs. KMKNX - Sharpe Ratio Comparison

The current FCGSX Sharpe Ratio is 3.32, which is higher than the KMKNX Sharpe Ratio of 0.01. The chart below compares the historical Sharpe Ratios of FCGSX and KMKNX, 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

	FCGSX	KMKNX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.32	0.01	+3.31
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.84	0.58	+0.27
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.07	0.83	+0.24
Sharpe Ratio (All Time) Calculated using the full available price history	0.98	0.55	+0.43

Drawdowns

FCGSX vs. KMKNX - Drawdown Comparison

The maximum FCGSX drawdown since its inception was -38.77%, smaller than the maximum KMKNX drawdown of -65.47%. Use the drawdown chart below to compare losses from any high point for FCGSX and KMKNX.

Drawdown Indicators

	FCGSX	KMKNX	Difference
Max Drawdown Largest peak-to-trough decline	-38.77%	-65.47%	+26.70%
Max Drawdown (1Y) Largest decline over 1 year	-10.42%	-16.99%	+6.57%
Max Drawdown (3Y) Largest decline over 3 years	-26.07%	-28.27%	+2.20%
Max Drawdown (5Y) Largest decline over 5 years	-38.77%	-31.47%	-7.30%
Max Drawdown (10Y) Largest decline over 10 years	-38.77%	-31.47%	-7.30%
Current Drawdown Current decline from peak	0.00%	-18.76%	+18.76%
Average Drawdown Average peak-to-trough decline	-6.96%	-15.28%	+8.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.28%	6.89%	-4.61%

Volatility

FCGSX vs. KMKNX - Volatility Comparison

The current volatility for Fidelity Series Growth Company Fund (FCGSX) is 4.38%, while Kinetics Market Opportunities Fund No Load Class (KMKNX) has a volatility of 5.22%. This indicates that FCGSX experiences smaller price fluctuations and is considered to be less risky than KMKNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCGSX	KMKNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.38%	5.22%	-0.84%
Volatility (6M) Calculated over the trailing 6-month period	13.35%	19.34%	-5.99%
Volatility (1Y) Calculated over the trailing 1-year period	17.66%	23.11%	-5.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.66%	26.39%	-2.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.24%	23.63%	-0.39%

FCGSX vs. KMKNX - Expense Ratio Comparison

FCGSX has a 0.00% expense ratio, which is lower than KMKNX's 1.40% expense ratio.

Dividends

FCGSX vs. KMKNX - Dividend Comparison

FCGSX's dividend yield for the trailing twelve months is around 8.45%, more than KMKNX's 0.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FCGSX Fidelity Series Growth Company Fund	8.45%	10.48%	12.49%	3.13%	0.61%	38.65%	31.99%	11.06%	13.21%	10.51%	2.44%	0.25%
KMKNX Kinetics Market Opportunities Fund No Load Class	0.60%	0.66%	0.81%	0.87%	1.36%	1.56%	0.26%	0.33%	9.13%	0.64%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FCGSX and KMKNX in my portfolio?

FCGSX and KMKNX have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FCGSX or KMKNX?

KMKNX has higher volatility (5.22%) compared to FCGSX (4.38%). In terms of maximum drawdown, FCGSX dropped -38.77% vs KMKNX's -65.47%.

Which has better risk-adjusted returns?

FCGSX currently has the higher Sharpe Ratio (3.32 vs 0.01), 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.