FCNTX vs. MSFU

Last updated Jun 16, 2026

FCNTX (Fidelity Contrafund) and MSFU (Direxion Daily MSFT Bull 2X Shares) are both funds - FCNTX is a Large Cap Growth Equities fund managed by Fidelity, while MSFU is a Leveraged Equities fund tracking the Microsoft Corporation (150%). Over the past 3 years, FCNTX returned 26.44%/yr vs -5.80%/yr for MSFU. A 0.69 correlation means they provide meaningful diversification when combined. FCNTX charges 0.39%/yr vs 1.04%/yr for MSFU.

Performance

FCNTX vs. MSFU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Contrafund (FCNTX) and Direxion Daily MSFT Bull 2X Shares (MSFU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FCNTX achieves a 8.05% return, which is significantly higher than MSFU's -37.11% return.

FCNTX

• 1D: 1.31%
• 1M: 1.79%
• YTD: 8.05%
• 6M: 9.44%
• 1Y: 23.55%
• 3Y*: 26.44%
• 5Y*: 14.71%
• 10Y*: 17.64%

MSFU

• 1D: 4.68%
• 1M: -11.32%
• YTD: -37.11%
• 6M: -35.10%
• 1Y: -39.10%
• 3Y*: -5.80%
• 5Y*: —
• 10Y*: —

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

FCNTX vs. MSFU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FCNTX Fidelity Contrafund	8.05%	21.76%	36.00%	38.67%	-3.31%
MSFU Direxion Daily MSFT Bull 2X Shares	-37.11%	13.36%	5.80%	83.04%	-13.28%

Correlation

The correlation between FCNTX and MSFU is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (3Y) Calculated over the trailing 3-year period	0.66
Correlation (All Time) Calculated using the full available price history since Sep 7, 2022	0.69

Over the past year, the correlation between FCNTX and MSFU has dropped to 0.47 - well below their long-term average of 0.69, suggesting their price drivers have been diverging.

FCNTX vs. MSFU - Sectors Allocation Comparison

Sectors	FCNTX	MSFU
Technology	25.5%	100.0%
Communication Services	20.8%	-
Financial Services	15.5%	-
Consumer Cyclical	10.3%	-
Healthcare	7.4%	-
Industrials	5.8%	-
Consumer Defensive	3.0%	-
Utilities	1.8%	-
Basic Materials	1.7%	-
Energy	1.6%	-
Real Estate	0.3%	-

Return for Risk

FCNTX vs. MSFU — Risk / Return Rank

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

FCNTX

FCNTX Risk / Return Rank: 37
FCNTX Sharpe Ratio Rank: 38
FCNTX Sortino Ratio Rank: 34
FCNTX Omega Ratio Rank: 36
FCNTX Calmar Ratio Rank: 34
FCNTX Martin Ratio Rank: 44

MSFU

MSFU Risk / Return Rank: 3
MSFU Sharpe Ratio Rank: 3
MSFU Sortino Ratio Rank: 4
MSFU Omega Ratio Rank: 3
MSFU Calmar Ratio Rank: 4
MSFU 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.

FCNTX vs. MSFU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Contrafund (FCNTX) and Direxion Daily MSFT Bull 2X Shares (MSFU). 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.

	FCNTX	MSFU	Difference
Sharpe ratio: Return per unit of total volatility	1.53	-0.77	+2.30
Sortino ratio: Return per unit of downside risk	2.11	-0.93	+3.04
Omega ratio: Gain probability vs. loss probability	1.27	0.88	+0.39
Calmar ratio: Return relative to maximum drawdown	1.97	-0.66	+2.63
Martin ratio: Return relative to average drawdown	8.27	-1.22	+9.49

FCNTX vs. MSFU - Sharpe Ratio Comparison

The current FCNTX Sharpe Ratio is 1.53, which is higher than the MSFU Sharpe Ratio of -0.77. The chart below compares the historical Sharpe Ratios of FCNTX and MSFU, 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

FCNTX vs. MSFU - Drawdown Comparison

The maximum FCNTX drawdown since its inception was -49.19%, smaller than the maximum MSFU drawdown of -59.83%. Use the drawdown chart below to compare losses from any high point for FCNTX and MSFU.

Drawdown Indicators

	FCNTX	MSFU	Difference
Max Drawdown Largest peak-to-trough decline	-49.19%	-59.83%	+10.64%
Max Drawdown (1Y) Largest decline over 1 year	-11.30%	-59.83%	+48.53%
Max Drawdown (3Y) Largest decline over 3 years	-19.75%	-59.83%	+40.08%
Max Drawdown (5Y) Largest decline over 5 years	-32.59%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-32.59%	—	—
Current Drawdown Current decline from peak	-1.13%	-51.32%	+50.19%
Average Drawdown Average peak-to-trough decline	-8.15%	-16.78%	+8.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.69%	32.21%	-29.52%

Volatility

FCNTX vs. MSFU - Volatility Comparison

The current volatility for Fidelity Contrafund (FCNTX) is 5.14%, while Direxion Daily MSFT Bull 2X Shares (MSFU) has a volatility of 21.34%. This indicates that FCNTX experiences smaller price fluctuations and is considered to be less risky than MSFU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCNTX	MSFU	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.14%	21.34%	-16.20%
Volatility (6M) Calculated over the trailing 6-month period	11.22%	45.46%	-34.24%
Volatility (1Y) Calculated over the trailing 1-year period	14.58%	51.01%	-36.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.23%	46.39%	-27.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.71%	46.39%	-26.68%

FCNTX vs. MSFU - Expense Ratio Comparison

FCNTX has a 0.39% expense ratio, which is lower than MSFU's 1.04% expense ratio.

Dividends

FCNTX vs. MSFU - Dividend Comparison

FCNTX's dividend yield for the trailing twelve months is around 4.32%, less than MSFU's 12.58% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FCNTX Fidelity Contrafund	4.32%	5.21%	4.19%	3.78%	11.87%	10.80%	8.01%	4.16%	7.46%	6.08%	3.81%	5.33%
MSFU Direxion Daily MSFT Bull 2X Shares	12.58%	8.15%	7.00%	2.11%	0.54%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FCNTX and MSFU in my portfolio?

FCNTX and MSFU have a correlation of 0.47, 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 MSFU?

MSFU has higher volatility (21.34%) compared to FCNTX (5.14%). In terms of maximum drawdown, FCNTX dropped -49.19% vs MSFU's -59.83%.

Which has better risk-adjusted returns?

FCNTX currently has the higher Sharpe Ratio (1.53 vs -0.77), 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.