FCPIX vs. ^GSPC

Last updated Apr 1, 2026

Compare and contrast key facts about Fidelity Advisor International Capital Appreciation Fund Class I (FCPIX) and S&P 500 Index (^GSPC).

FCPIX is managed by Fidelity. It was launched on Nov 3, 1997.

Performance

FCPIX vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor International Capital Appreciation Fund Class I (FCPIX) and S&P 500 Index (^GSPC). The values are adjusted to include any dividend payments, if applicable.

FCPIX vs. ^GSPC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FCPIX Fidelity Advisor International Capital Appreciation Fund Class I	-8.16%	18.68%	8.02%	27.64%	-26.55%	12.26%	22.23%	32.75%	-12.79%	35.88%
^GSPC S&P 500 Index	-4.63%	16.39%	23.31%	24.23%	-19.44%	26.89%	16.26%	28.88%	-6.24%	19.42%

Returns By Period

In the year-to-date period, FCPIX achieves a -8.16% return, which is significantly lower than ^GSPC's -4.63% return. Over the past 10 years, FCPIX has underperformed ^GSPC with an annualized return of 8.73%, while ^GSPC has yielded a comparatively higher 12.16% annualized return.

FCPIX

• 1D: -0.51%
• 1M: -13.01%
• YTD: -8.16%
• 6M: -8.47%
• 1Y: 6.49%
• 3Y*: 9.73%
• 5Y*: 4.42%
• 10Y*: 8.73%

^GSPC

• 1D: 2.91%
• 1M: -5.09%
• YTD: -4.63%
• 6M: -2.39%
• 1Y: 16.33%
• 3Y*: 16.69%
• 5Y*: 10.18%
• 10Y*: 12.16%

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

Return for Risk

FCPIX vs. ^GSPC — Risk / Return Rank

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

FCPIX

FCPIX Risk / Return Rank: 12
FCPIX Sharpe Ratio Rank: 12
FCPIX Sortino Ratio Rank: 12
FCPIX Omega Ratio Rank: 12
FCPIX Calmar Ratio Rank: 12
FCPIX Martin Ratio Rank: 13

^GSPC

^GSPC Risk / Return Rank: 74
^GSPC Sharpe Ratio Rank: 69
^GSPC Sortino Ratio Rank: 68
^GSPC Omega Ratio Rank: 76
^GSPC Calmar Ratio Rank: 73
^GSPC Martin Ratio Rank: 85

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.

FCPIX vs. ^GSPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor International Capital Appreciation Fund Class I (FCPIX) and S&P 500 Index (^GSPC). 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.

	FCPIX	^GSPC	Difference
Sharpe ratio Return per unit of total volatility	0.29	0.90	-0.61
Sortino ratio Return per unit of downside risk	0.54	1.39	-0.84
Omega ratio Gain probability vs. loss probability	1.07	1.21	-0.14
Calmar ratio Return relative to maximum drawdown	0.29	1.40	-1.11
Martin ratio Return relative to average drawdown	1.15	6.61	-5.46
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FCPIX vs. ^GSPC - Sharpe Ratio Comparison

The current FCPIX Sharpe Ratio is 0.29, which is lower than the ^GSPC Sharpe Ratio of 0.90. The chart below compares the historical Sharpe Ratios of FCPIX and ^GSPC, 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

	FCPIX	^GSPC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.29	0.90	-0.61
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.24	0.61	-0.37
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.49	0.68	-0.18
Sharpe Ratio (All Time) Calculated using the full available price history	0.36	0.46	-0.10

Correlation

The correlation between FCPIX and ^GSPC is 0.71, 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.

Drawdowns

FCPIX vs. ^GSPC - Drawdown Comparison

The maximum FCPIX drawdown since its inception was -67.79%, which is greater than ^GSPC's maximum drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for FCPIX and ^GSPC.

Drawdown Indicators

	FCPIX	^GSPC	Difference
Max Drawdown Largest peak-to-trough decline	-67.79%	-56.78%	-11.01%
Max Drawdown (1Y) Largest decline over 1 year	-14.45%	-12.14%	-2.31%
Max Drawdown (5Y) Largest decline over 5 years	-37.24%	-25.43%	-11.81%
Max Drawdown (10Y) Largest decline over 10 years	-37.24%	-33.92%	-3.32%
Current Drawdown Current decline from peak	-14.45%	-6.45%	-8.00%
Average Drawdown Average peak-to-trough decline	-15.84%	-10.75%	-5.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.60%	2.57%	+1.03%

Volatility

FCPIX vs. ^GSPC - Volatility Comparison

Fidelity Advisor International Capital Appreciation Fund Class I (FCPIX) has a higher volatility of 7.72% compared to S&P 500 Index (^GSPC) at 5.34%. This indicates that FCPIX's price experiences larger fluctuations and is considered to be riskier than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCPIX	^GSPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.72%	5.34%	+2.38%
Volatility (6M) Calculated over the trailing 6-month period	12.32%	9.54%	+2.78%
Volatility (1Y) Calculated over the trailing 1-year period	19.46%	18.33%	+1.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.45%	16.91%	+1.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.81%	18.05%	-0.24%