FCNTX vs. BRK-B

Last updated Jun 9, 2026

FCNTX (Fidelity Contrafund) is Large Cap Growth Equities fund managed by Fidelity, while BRK-B (Berkshire Hathaway Inc.) is a stock. Over the past 10 years, FCNTX returned 17.20%/yr vs 13.14%/yr for BRK-B. At a 0.47 correlation, their price movements are largely independent.

Performance

FCNTX vs. BRK-B - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Contrafund (FCNTX) and Berkshire Hathaway Inc. (BRK-B). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FCNTX achieves a 6.03% return, which is significantly higher than BRK-B's -3.11% return. Over the past 10 years, FCNTX has outperformed BRK-B with an annualized return of 17.20%, while BRK-B has yielded a comparatively lower 13.14% annualized return.

FCNTX

• 1D: -2.98%
• 1M: 0.19%
• YTD: 6.03%
• 6M: 6.20%
• 1Y: 19.84%
• 3Y*: 26.22%
• 5Y*: 14.50%
• 10Y*: 17.20%

BRK-B

• 1D: -0.23%
• 1M: 2.32%
• YTD: -3.11%
• 6M: -2.06%
• 1Y: -1.32%
• 3Y*: 13.25%
• 5Y*: 11.03%
• 10Y*: 13.14%

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

FCNTX vs. BRK-B - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FCNTX Fidelity Contrafund	6.03%	21.76%	36.00%	38.67%	-28.31%	24.52%	32.48%	30.00%	-3.81%	32.18%
BRK-B Berkshire Hathaway Inc.	-3.11%	10.89%	27.09%	15.46%	3.31%	28.95%	2.37%	10.93%	3.01%	21.62%

Correlation

The correlation between FCNTX and BRK-B is 0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.07
Correlation (3Y) Calculated over the trailing 3-year period	0.26
Correlation (5Y) Calculated over the trailing 5-year period	0.44
Correlation (10Y) Calculated over the trailing 10-year period	0.49
Correlation (All Time) Calculated using the full available price history since May 10, 1996	0.47

Over the past year, the correlation between FCNTX and BRK-B has dropped to 0.07 - well below their long-term average of 0.47, suggesting their price drivers have been diverging.

Return for Risk

FCNTX vs. BRK-B — Risk / Return Rank

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

FCNTX

FCNTX Risk / Return Rank: 30
FCNTX Sharpe Ratio Rank: 30
FCNTX Sortino Ratio Rank: 27
FCNTX Omega Ratio Rank: 28
FCNTX Calmar Ratio Rank: 29
FCNTX Martin Ratio Rank: 38

BRK-B

BRK-B Risk / Return Rank: 35
BRK-B Sharpe Ratio Rank: 38
BRK-B Sortino Ratio Rank: 30
BRK-B Omega Ratio Rank: 30
BRK-B Calmar Ratio Rank: 38
BRK-B Martin Ratio Rank: 37

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.

FCNTX vs. BRK-B - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Contrafund (FCNTX) and Berkshire Hathaway Inc. (BRK-B). 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.

	FCNTX	BRK-B	Difference
Sharpe ratio: Return per unit of total volatility	1.49	-0.09	+1.58
Sortino ratio: Return per unit of downside risk	2.06	-0.03	+2.09
Omega ratio: Gain probability vs. loss probability	1.27	1.00	+0.27
Calmar ratio: Return relative to maximum drawdown	1.89	-0.14	+2.03
Martin ratio: Return relative to average drawdown	8.00	-0.30	+8.29
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FCNTX vs. BRK-B - Sharpe Ratio Comparison

The current FCNTX Sharpe Ratio is 1.49, which is higher than the BRK-B Sharpe Ratio of -0.09. The chart below compares the historical Sharpe Ratios of FCNTX and BRK-B, 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

	FCNTX	BRK-B	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.49	-0.09	+1.58
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.76	0.65	+0.11
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.88	0.68	+0.20
Sharpe Ratio (All Time) Calculated using the full available price history	0.77	0.48	+0.29

Drawdowns

FCNTX vs. BRK-B - Drawdown Comparison

The maximum FCNTX drawdown since its inception was -49.19%, smaller than the maximum BRK-B drawdown of -53.86%. Use the drawdown chart below to compare losses from any high point for FCNTX and BRK-B.

Drawdown Indicators

	FCNTX	BRK-B	Difference
Max Drawdown Largest peak-to-trough decline	-49.19%	-53.86%	+4.67%
Max Drawdown (1Y) Largest decline over 1 year	-11.30%	-9.42%	-1.88%
Max Drawdown (3Y) Largest decline over 3 years	-19.75%	-14.95%	-4.80%
Max Drawdown (5Y) Largest decline over 5 years	-32.59%	-26.58%	-6.01%
Max Drawdown (10Y) Largest decline over 10 years	-32.59%	-29.57%	-3.02%
Current Drawdown Current decline from peak	-2.98%	-9.78%	+6.80%
Average Drawdown Average peak-to-trough decline	-8.16%	-11.07%	+2.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.66%	4.49%	-1.83%

Volatility

FCNTX vs. BRK-B - Volatility Comparison

Fidelity Contrafund (FCNTX) has a higher volatility of 4.35% compared to Berkshire Hathaway Inc. (BRK-B) at 3.98%. This indicates that FCNTX's price experiences larger fluctuations and is considered to be riskier than BRK-B based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCNTX	BRK-B	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.35%	3.98%	+0.37%
Volatility (6M) Calculated over the trailing 6-month period	10.93%	10.87%	+0.06%
Volatility (1Y) Calculated over the trailing 1-year period	14.35%	14.38%	-0.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.19%	17.13%	+2.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.70%	19.44%	+0.26%

Dividends

FCNTX vs. BRK-B - Dividend Comparison

FCNTX's dividend yield for the trailing twelve months is around 4.40%, while BRK-B has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BRK-B Berkshire Hathaway Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FCNTX Fidelity Contrafund	4.40%	5.21%	4.19%	3.78%	11.87%	10.80%	8.01%	4.16%	7.46%	6.08%	3.81%	5.33%

Frequently Asked Questions

Can I hold both FCNTX and BRK-B in my portfolio?

FCNTX and BRK-B have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FCNTX or BRK-B?

FCNTX has higher volatility (4.35%) compared to BRK-B (3.98%). In terms of maximum drawdown, FCNTX dropped -49.19% vs BRK-B's -53.86%.

Which has better risk-adjusted returns?

FCNTX currently has the higher Sharpe Ratio (1.49 vs -0.09), 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.