FCNKX vs. RYTNX

Last updated Apr 2, 2026

Compare and contrast key facts about Fidelity Contrafund Fund (FCNKX) and Rydex S&P 500 2x Strategy Fund (RYTNX).

FCNKX is managed by Fidelity. RYTNX is managed by Rydex Funds. It was launched on May 18, 2000.

Performance

FCNKX vs. RYTNX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Contrafund Fund (FCNKX) and Rydex S&P 500 2x Strategy Fund (RYTNX). The values are adjusted to include any dividend payments, if applicable.

FCNKX vs. RYTNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FCNKX Fidelity Contrafund Fund	-5.37%	21.88%	36.08%	39.50%	-27.44%	24.66%	32.50%	30.18%	-2.27%	32.20%
RYTNX Rydex S&P 500 2x Strategy Fund	-10.47%	24.88%	41.95%	45.20%	-39.32%	55.55%	20.31%	62.29%	-15.06%	42.95%

Returns By Period

In the year-to-date period, FCNKX achieves a -5.37% return, which is significantly higher than RYTNX's -10.47% return. Over the past 10 years, FCNKX has underperformed RYTNX with an annualized return of 16.48%, while RYTNX has yielded a comparatively higher 19.68% annualized return.

FCNKX

• 1D: 3.50%
• 1M: -5.88%
• YTD: -5.37%
• 6M: -2.55%
• 1Y: 19.31%
• 3Y*: 25.20%
• 5Y*: 13.66%
• 10Y*: 16.48%

RYTNX

• 1D: 5.81%
• 1M: -10.57%
• YTD: -10.47%
• 6M: -8.36%
• 1Y: 24.05%
• 3Y*: 26.91%
• 5Y*: 13.80%
• 10Y*: 19.68%

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

FCNKX vs. RYTNX - Expense Ratio Comparison

FCNKX has a 0.74% expense ratio, which is lower than RYTNX's 1.82% expense ratio.

RYTNX

Rydex S&P 500 2x Strategy Fund

FCNKX

Fidelity Contrafund Fund

Return for Risk

FCNKX vs. RYTNX — Risk / Return Rank

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

FCNKX

FCNKX Risk / Return Rank: 58
FCNKX Sharpe Ratio Rank: 52
FCNKX Sortino Ratio Rank: 57
FCNKX Omega Ratio Rank: 54
FCNKX Calmar Ratio Rank: 65
FCNKX Martin Ratio Rank: 61

RYTNX

RYTNX Risk / Return Rank: 36
RYTNX Sharpe Ratio Rank: 25
RYTNX Sortino Ratio Rank: 32
RYTNX Omega Ratio Rank: 35
RYTNX Calmar Ratio Rank: 40
RYTNX Martin Ratio Rank: 45

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. RYTNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Contrafund Fund (FCNKX) and Rydex S&P 500 2x Strategy Fund (RYTNX). 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.

	FCNKX	RYTNX	Difference
Sharpe ratio Return per unit of total volatility	1.02	0.69	+0.33
Sortino ratio Return per unit of downside risk	1.57	1.19	+0.38
Omega ratio Gain probability vs. loss probability	1.22	1.18	+0.04
Calmar ratio Return relative to maximum drawdown	1.54	1.13	+0.41
Martin ratio Return relative to average drawdown	5.88	4.84	+1.04
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FCNKX vs. RYTNX - Sharpe Ratio Comparison

The current FCNKX Sharpe Ratio is 1.02, which is higher than the RYTNX Sharpe Ratio of 0.69. The chart below compares the historical Sharpe Ratios of FCNKX and RYTNX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FCNKX	RYTNX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.02	0.69	+0.33
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.72	0.41	+0.31
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.06	0.55	-0.49
Sharpe Ratio (All Time) Calculated using the full available price history	0.06	0.22	-0.16

Correlation

The correlation between FCNKX and RYTNX is 0.93, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

FCNKX vs. RYTNX - Dividend Comparison

FCNKX's dividend yield for the trailing twelve months is around 4.91%, less than RYTNX's 5.35% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FCNKX Fidelity Contrafund Fund	4.91%	5.18%	4.28%	4.31%	13.69%	10.77%	8.00%	4.15%	9.14%	6.09%	3.92%	4.47%
RYTNX Rydex S&P 500 2x Strategy Fund	5.35%	4.79%	5.45%	0.14%	0.00%	0.14%	0.69%	1.84%	0.00%	5.84%	0.16%	1.52%

Drawdowns

FCNKX vs. RYTNX - Drawdown Comparison

The maximum FCNKX drawdown since its inception was -90.08%, roughly equal to the maximum RYTNX drawdown of -86.64%. Use the drawdown chart below to compare losses from any high point for FCNKX and RYTNX.

Drawdown Indicators

	FCNKX	RYTNX	Difference
Max Drawdown Largest peak-to-trough decline	-90.08%	-86.64%	-3.44%
Max Drawdown (1Y) Largest decline over 1 year	-11.29%	-23.40%	+12.11%
Max Drawdown (5Y) Largest decline over 5 years	-31.77%	-47.01%	+15.24%
Max Drawdown (10Y) Largest decline over 10 years	-90.08%	-59.23%	-30.85%
Current Drawdown Current decline from peak	-8.19%	-13.68%	+5.49%
Average Drawdown Average peak-to-trough decline	-7.38%	-28.72%	+21.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.95%	5.44%	-2.49%

Volatility

FCNKX vs. RYTNX - Volatility Comparison

The current volatility for Fidelity Contrafund Fund (FCNKX) is 6.58%, while Rydex S&P 500 2x Strategy Fund (RYTNX) has a volatility of 10.67%. This indicates that FCNKX experiences smaller price fluctuations and is considered to be less risky than RYTNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCNKX	RYTNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.58%	10.67%	-4.09%
Volatility (6M) Calculated over the trailing 6-month period	11.17%	19.04%	-7.87%
Volatility (1Y) Calculated over the trailing 1-year period	19.98%	36.61%	-16.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.16%	33.77%	-14.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	288.07%	36.13%	+251.94%