FCNKX vs. DFSVX

Last updated Jun 24, 2026

FCNKX (Fidelity Contrafund) and DFSVX (DFA U.S. Small Cap Value Portfolio I) are both mutual funds - FCNKX is a Large Cap Growth Equities fund actively managed by Fidelity, while DFSVX is a Small Cap Value Equities fund actively managed by Dimensional. Both are actively managed. Over the past 10 years, FCNKX returned 18.47%/yr vs 11.91%/yr for DFSVX. A 0.72 correlation means they provide meaningful diversification when combined. FCNKX charges 0.74%/yr vs 0.30%/yr for DFSVX.

Performance

FCNKX vs. DFSVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Contrafund (FCNKX) and DFA U.S. Small Cap Value Portfolio I (DFSVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FCNKX achieves a 8.63% return, which is significantly lower than DFSVX's 16.82% return. Over the past 10 years, FCNKX has outperformed DFSVX with an annualized return of 18.47%, while DFSVX has yielded a comparatively lower 11.91% annualized return.

FCNKX

• 1D: -2.11%
• 1M: 2.00%
• YTD: 8.63%
• 6M: 7.74%
• 1Y: 22.87%
• 3Y*: 26.80%
• 5Y*: 15.03%
• 10Y*: 18.47%

DFSVX

• 1D: 0.22%
• 1M: 2.14%
• YTD: 16.82%
• 6M: 15.24%
• 1Y: 33.31%
• 3Y*: 18.13%
• 5Y*: 11.12%
• 10Y*: 11.91%

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

FCNKX vs. DFSVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FCNKX Fidelity Contrafund	8.63%	21.88%	36.08%	39.50%	-27.44%	24.66%	32.50%	30.18%	-2.27%	32.20%
DFSVX DFA U.S. Small Cap Value Portfolio I	16.82%	8.37%	9.58%	19.02%	-3.57%	39.97%	2.24%	18.15%	-15.13%	6.82%

Correlation

The correlation between FCNKX and DFSVX is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.46
Correlation (3Y) Calculated over the trailing 3-year period	0.53
Correlation (5Y) Calculated over the trailing 5-year period	0.63
Correlation (10Y) Calculated over the trailing 10-year period	0.59
Correlation (All Time) Calculated using the full available price history since May 15, 2008	0.72

Over the past year, the correlation between FCNKX and DFSVX has dropped to 0.46 - well below their long-term average of 0.72, suggesting their price drivers have been diverging.

Return for Risk

FCNKX vs. DFSVX — Risk / Return Rank

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

FCNKX

FCNKX Risk / Return Rank: 37
FCNKX Sharpe Ratio Rank: 36
FCNKX Sortino Ratio Rank: 33
FCNKX Omega Ratio Rank: 34
FCNKX Calmar Ratio Rank: 36
FCNKX Martin Ratio Rank: 45

DFSVX

DFSVX Risk / Return Rank: 61
DFSVX Sharpe Ratio Rank: 53
DFSVX Sortino Ratio Rank: 57
DFSVX Omega Ratio Rank: 49
DFSVX Calmar Ratio Rank: 83
DFSVX Martin Ratio Rank: 63

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.

FCNKX vs. DFSVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Contrafund (FCNKX) and DFA U.S. Small Cap Value Portfolio I (DFSVX). 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.

	FCNKX	DFSVX	Difference
Sharpe ratio: Return per unit of total volatility	1.61	1.99	-0.38
Sortino ratio: Return per unit of downside risk	2.23	2.90	-0.67
Omega ratio: Gain probability vs. loss probability	1.29	1.35	-0.06
Calmar ratio: Return relative to maximum drawdown	2.16	3.65	-1.49
Martin ratio: Return relative to average drawdown	9.00	11.64	-2.64

FCNKX vs. DFSVX - Sharpe Ratio Comparison

The current FCNKX Sharpe Ratio is 1.61, which is comparable to the DFSVX Sharpe Ratio of 1.99. The chart below compares the historical Sharpe Ratios of FCNKX and DFSVX, 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

FCNKX vs. DFSVX - Drawdown Comparison

The maximum FCNKX drawdown since its inception was -46.44%, smaller than the maximum DFSVX drawdown of -66.70%. Use the drawdown chart below to compare losses from any high point for FCNKX and DFSVX.

Drawdown Indicators

	FCNKX	DFSVX	Difference
Max Drawdown Largest peak-to-trough decline	-46.44%	-66.70%	+20.26%
Max Drawdown (1Y) Largest decline over 1 year	-11.29%	-9.59%	-1.70%
Max Drawdown (3Y) Largest decline over 3 years	-19.73%	-27.69%	+7.96%
Max Drawdown (5Y) Largest decline over 5 years	-31.77%	-27.69%	-4.08%
Max Drawdown (10Y) Largest decline over 10 years	-31.77%	-52.12%	+20.35%
Current Drawdown Current decline from peak	-2.61%	-1.86%	-0.75%
Average Drawdown Average peak-to-trough decline	-7.29%	-9.46%	+2.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.70%	2.99%	-0.29%

Volatility

FCNKX vs. DFSVX - Volatility Comparison

Fidelity Contrafund (FCNKX) has a higher volatility of 6.34% compared to DFA U.S. Small Cap Value Portfolio I (DFSVX) at 4.09%. This indicates that FCNKX's price experiences larger fluctuations and is considered to be riskier than DFSVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCNKX	DFSVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.34%	4.09%	+2.25%
Volatility (6M) Calculated over the trailing 6-month period	11.95%	11.40%	+0.55%
Volatility (1Y) Calculated over the trailing 1-year period	15.13%	17.58%	-2.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.29%	21.41%	-2.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.74%	23.90%	-4.16%

FCNKX vs. DFSVX - Expense Ratio Comparison

FCNKX has a 0.74% expense ratio, which is higher than DFSVX's 0.30% expense ratio.

Dividends

FCNKX vs. DFSVX - Dividend Comparison

FCNKX's dividend yield for the trailing twelve months is around 4.28%, more than DFSVX's 1.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFSVX DFA U.S. Small Cap Value Portfolio I	1.49%	1.69%	1.47%	3.67%	6.77%	10.40%	1.96%	2.83%	7.54%	5.18%	4.18%	5.29%
FCNKX Fidelity Contrafund	4.28%	5.18%	4.28%	4.31%	13.69%	10.77%	8.00%	4.15%	9.14%	6.09%	3.92%	4.47%

Frequently Asked Questions

Can I hold both FCNKX and DFSVX in my portfolio?

FCNKX and DFSVX have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FCNKX or DFSVX?

FCNKX has higher volatility (6.34%) compared to DFSVX (4.09%). In terms of maximum drawdown, FCNKX dropped -46.44% vs DFSVX's -66.70%.

Which has better risk-adjusted returns?

DFSVX currently has the higher Sharpe Ratio (1.99 vs 1.61), 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.