FCPGX vs. WMICX

Last updated Jun 4, 2026

FCPGX (Fidelity Small Cap Growth Fund) and WMICX (Wasatch Micro Cap Fund) are both Small Cap Growth Equities funds. Over the past 10 years, FCPGX returned 14.82%/yr vs 14.39%/yr for WMICX. Their correlation of 0.92 suggests significant overlap in exposure. FCPGX charges 1.00%/yr vs 1.63%/yr for WMICX.

Performance

FCPGX vs. WMICX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Small Cap Growth Fund (FCPGX) and Wasatch Micro Cap Fund (WMICX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FCPGX achieves a 18.56% return, which is significantly higher than WMICX's 13.73% return. Both investments have delivered pretty close results over the past 10 years, with FCPGX having a 14.82% annualized return and WMICX not far behind at 14.39%.

FCPGX

• 1D: 0.80%
• 1M: 4.20%
• YTD: 18.56%
• 6M: 16.63%
• 1Y: 37.99%
• 3Y*: 20.82%
• 5Y*: 8.35%
• 10Y*: 14.82%

WMICX

• 1D: 0.31%
• 1M: 4.67%
• YTD: 13.73%
• 6M: 13.59%
• 1Y: 29.57%
• 3Y*: 16.04%
• 5Y*: -0.29%
• 10Y*: 14.39%

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

FCPGX vs. WMICX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FCPGX Fidelity Small Cap Growth Fund	18.56%	11.20%	20.56%	19.02%	-25.34%	10.50%	36.41%	36.31%	-4.57%	28.99%
WMICX Wasatch Micro Cap Fund	13.73%	4.84%	20.91%	22.58%	-40.64%	4.51%	64.84%	42.31%	1.73%	36.17%

Correlation

The correlation between FCPGX and WMICX is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (10Y) Calculated over the trailing 10-year period	0.91
Correlation (All Time) Calculated using the full available price history since Nov 5, 2004	0.92

The correlation between FCPGX and WMICX has been stable across timeframes, ranging from 0.82 to 0.92 - a consistent structural relationship.

Return for Risk

FCPGX vs. WMICX — Risk / Return Rank

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

FCPGX

FCPGX Risk / Return Rank: 48
FCPGX Sharpe Ratio Rank: 42
FCPGX Sortino Ratio Rank: 38
FCPGX Omega Ratio Rank: 36
FCPGX Calmar Ratio Rank: 63
FCPGX Martin Ratio Rank: 62

WMICX

WMICX Risk / Return Rank: 32
WMICX Sharpe Ratio Rank: 32
WMICX Sortino Ratio Rank: 33
WMICX Omega Ratio Rank: 27
WMICX Calmar Ratio Rank: 34
WMICX Martin Ratio Rank: 34

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.

FCPGX vs. WMICX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Small Cap Growth Fund (FCPGX) and Wasatch Micro Cap Fund (WMICX). 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.

	FCPGX	WMICX	Difference
Sharpe ratio: Return per unit of total volatility	1.89	1.63	+0.26
Sortino ratio: Return per unit of downside risk	2.58	2.39	+0.19
Omega ratio: Gain probability vs. loss probability	1.32	1.27	+0.05
Calmar ratio: Return relative to maximum drawdown	3.06	2.21	+0.85
Martin ratio: Return relative to average drawdown	12.29	7.63	+4.66
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FCPGX vs. WMICX - Sharpe Ratio Comparison

The current FCPGX Sharpe Ratio is 1.89, which is comparable to the WMICX Sharpe Ratio of 1.63. The chart below compares the historical Sharpe Ratios of FCPGX and WMICX, 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

	FCPGX	WMICX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.89	1.63	+0.26
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.36	-0.01	+0.37
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.65	0.59	+0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	0.66	-0.12

Drawdowns

FCPGX vs. WMICX - Drawdown Comparison

The maximum FCPGX drawdown since its inception was -59.11%, smaller than the maximum WMICX drawdown of -65.21%. Use the drawdown chart below to compare losses from any high point for FCPGX and WMICX.

Drawdown Indicators

	FCPGX	WMICX	Difference
Max Drawdown Largest peak-to-trough decline	-59.11%	-65.21%	+6.10%
Max Drawdown (1Y) Largest decline over 1 year	-13.12%	-14.32%	+1.20%
Max Drawdown (3Y) Largest decline over 3 years	-28.69%	-29.44%	+0.75%
Max Drawdown (5Y) Largest decline over 5 years	-39.04%	-48.70%	+9.66%
Max Drawdown (10Y) Largest decline over 10 years	-39.04%	-50.96%	+11.92%
Current Drawdown Current decline from peak	-0.38%	-10.45%	+10.07%
Average Drawdown Average peak-to-trough decline	-10.70%	-13.34%	+2.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.26%	4.13%	-0.87%

Volatility

FCPGX vs. WMICX - Volatility Comparison

Fidelity Small Cap Growth Fund (FCPGX) has a higher volatility of 6.50% compared to Wasatch Micro Cap Fund (WMICX) at 5.59%. This indicates that FCPGX's price experiences larger fluctuations and is considered to be riskier than WMICX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCPGX	WMICX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.50%	5.59%	+0.91%
Volatility (6M) Calculated over the trailing 6-month period	16.30%	13.74%	+2.56%
Volatility (1Y) Calculated over the trailing 1-year period	21.18%	19.39%	+1.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.48%	24.49%	-1.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.84%	24.37%	-1.53%

FCPGX vs. WMICX - Expense Ratio Comparison

FCPGX has a 1.00% expense ratio, which is lower than WMICX's 1.63% expense ratio.

Dividends

FCPGX vs. WMICX - Dividend Comparison

FCPGX's dividend yield for the trailing twelve months is around 5.38%, while WMICX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FCPGX Fidelity Small Cap Growth Fund	5.38%	6.38%	1.37%	0.00%	0.00%	19.27%	8.19%	5.31%	14.35%	6.88%	1.53%	4.32%
WMICX Wasatch Micro Cap Fund	0.00%	0.00%	0.00%	0.00%	0.00%	30.82%	5.68%	11.40%	29.75%	15.30%	9.30%	16.58%

Frequently Asked Questions

Can I hold both FCPGX and WMICX in my portfolio?

FCPGX and WMICX have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FCPGX or WMICX?

FCPGX has higher volatility (6.50%) compared to WMICX (5.59%). In terms of maximum drawdown, FCPGX dropped -59.11% vs WMICX's -65.21%.

Which has better risk-adjusted returns?

FCPGX currently has the higher Sharpe Ratio (1.89 vs 1.63), 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.