FCPGX vs. FZROX
FCPGX (Fidelity Small Cap Growth Fund) and FZROX (Fidelity ZERO Total Market Index Fund) are both mutual funds - FCPGX is a Small Cap Growth Equities fund managed by Fidelity, while FZROX is a Large Cap Blend Equities fund managed by Fidelity. Over the past 5 years, FCPGX returned 7.76%/yr vs 11.97%/yr for FZROX. Their correlation of 0.87 means they have usually moved in the same direction. FCPGX charges 0.88%/yr vs 0.00%/yr for FZROX.
Performance
FCPGX vs. FZROX - Performance Comparison
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Returns By Period
In the year-to-date period, FCPGX achieves a 20.02% return, which is significantly higher than FZROX's 10.58% return.
FCPGX
- 1D
- -0.76%
- 1M
- -3.81%
- 6M
- 14.24%
- YTD
- 20.02%
- 1Y
- 35.61%
- 3Y*
- 18.63%
- 5Y*
- 7.76%
- 10Y*
- 14.44%
- ALL TIME*
- 12.12%
FZROX
- 1D
- 0.58%
- 1M
- -0.15%
- 6M
- 8.29%
- YTD
- 10.58%
- 1Y
- 21.91%
- 3Y*
- 19.06%
- 5Y*
- 11.97%
- 10Y*
- —
- ALL TIME*
- 14.05%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
FCPGX vs. FZROX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FCPGX Fidelity Small Cap Growth Fund | 20.02% | 11.20% | 20.56% | 19.02% | -25.34% | 10.50% | 36.41% | 36.31% | -19.29% |
FZROX Fidelity ZERO Total Market Index Fund | 10.58% | 17.23% | 23.94% | 26.20% | -19.21% | 26.00% | 20.51% | 31.15% | -12.72% |
Correlation
The correlation between FCPGX and FZROX is 0.84, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.84 |
Correlation (3Y) Balances recent behavior with more history. | 0.85 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.88 |
Correlation (All Time) Calculated using the full available price history since Aug 16, 2018 | 0.87 |
The correlation between FCPGX and FZROX has been stable across timeframes, ranging from 0.84 to 0.88 - a consistent structural relationship.
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Return for Risk
FCPGX vs. FZROX — Risk / Return Rank
FCPGX
FZROX
FCPGX vs. FZROX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Small Cap Growth Fund (FCPGX) and Fidelity ZERO Total Market Index Fund (FZROX). 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.
| FCPGX | FZROX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.05 | ||
| Sortino ratioReturn per unit of downside risk | -0.03 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.27 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.53 | 2.24 | +0.29 |
| Martin ratioReturn relative to average drawdown | 9.44 | 9.70 | -0.25 |
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Drawdowns
FCPGX vs. FZROX - Drawdown Comparison
The maximum FCPGX drawdown since its inception was -59.11%, which is greater than FZROX's maximum drawdown of -34.96%. Use the drawdown chart below to compare losses from any high point for FCPGX and FZROX.
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Drawdown Indicators
| FCPGX | FZROX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.11% | -34.96% | -24.15% |
Max Drawdown (1Y)Largest decline over 1 year | -13.12% | -8.89% | -4.23% |
Max Drawdown (3Y)Largest decline over 3 years | -28.69% | -19.38% | -9.31% |
Max Drawdown (5Y)Largest decline over 5 years | -39.04% | -25.12% | -13.92% |
Max Drawdown (10Y)Largest decline over 10 years | -39.04% | — | — |
Current DrawdownCurrent decline from peak | -5.96% | -1.28% | -4.68% |
Average DrawdownAverage peak-to-trough decline | -10.64% | -5.43% | -5.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.52% | 2.06% | +1.46% |
Volatility
FCPGX vs. FZROX - Volatility Comparison
Fidelity Small Cap Growth Fund (FCPGX) has a higher volatility of 5.98% compared to Fidelity ZERO Total Market Index Fund (FZROX) at 3.48%. This indicates that FCPGX's price experiences larger fluctuations and is considered to be riskier than FZROX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FCPGX | FZROX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.98% | 3.48% | +2.50% |
Volatility (6M)Calculated over the trailing 6-month period | 17.96% | 10.35% | +7.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.71% | 13.20% | +9.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.72% | 17.54% | +6.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.94% | 20.03% | +2.91% |
FCPGX vs. FZROX - Expense Ratio Comparison
FCPGX has a 0.88% expense ratio, which is higher than FZROX's 0.00% expense ratio.
Dividends
FCPGX vs. FZROX - Dividend Comparison
FCPGX's dividend yield for the trailing twelve months is around 5.32%, more than FZROX's 0.93% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FCPGX Fidelity Small Cap Growth Fund | 5.32% | 6.38% | 1.37% | 0.00% | 0.00% | 19.27% | 8.19% | 5.31% | 14.35% | 6.88% | 1.53% | 4.32% |
FZROX Fidelity ZERO Total Market Index Fund | 0.93% | 1.02% | 1.16% | 1.36% | 1.57% | 1.25% | 1.27% | 1.51% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FCPGX and FZROX have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FCPGX has higher volatility (5.98%) compared to FZROX (3.48%). In terms of maximum drawdown, FCPGX dropped -59.11% vs FZROX's -34.96%.
FZROX currently has the higher Sharpe Ratio (1.51 vs 1.47), 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.
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