FCPVX vs. FISVX

Last updated Aug 4, 2026

FCPVX (Fidelity Small Cap Value Fund) and FISVX (Fidelity Small Cap Value Index Fund) are both Small Cap Value Equities funds from Fidelity. FCPVX is actively managed, while FISVX is passively managed. Over the past 5 years, FCPVX returned 10.47%/yr vs 9.10%/yr for FISVX. Their 0.96 correlation means they have historically moved very closely together. FCPVX charges 0.91%/yr vs 0.05%/yr for FISVX.

Performance

FCPVX vs. FISVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Small Cap Value Fund (FCPVX) and Fidelity Small Cap Value Index Fund (FISVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FCPVX achieves a 25.30% return, which is significantly higher than FISVX's 22.94% return.

FCPVX

• 1D: -0.28%
• 1M: -1.14%
• 6M: 18.04%
• YTD: 25.30%
• 1Y: 38.55%
• 3Y*: 15.83%
• 5Y*: 10.47%
• 10Y*: 11.69%
• ALL TIME*: 11.01%

FISVX

• 1D: -0.29%
• 1M: 0.03%
• 6M: 13.82%
• YTD: 22.94%
• 1Y: 43.55%
• 3Y*: 16.07%
• 5Y*: 9.10%
• 10Y*: —
• ALL TIME*: 11.56%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FCPVX Fidelity Small Cap Value Fund	$0.00	$0.00	$0.00
FISVX Fidelity Small Cap Value Index Fund	$0.00	$0.00	$0.00

FCPVX vs. FISVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FCPVX Fidelity Small Cap Value Fund	25.30%	8.13%	9.41%	17.77%	-13.07%	38.08%	11.18%	6.80%
FISVX Fidelity Small Cap Value Index Fund	22.94%	12.70%	8.16%	14.72%	-14.42%	28.26%	4.49%	9.54%

Correlation

The correlation between FCPVX and FISVX is 0.93, 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.	0.93
Correlation (3Y) Balances recent behavior with more history.	0.95
Correlation (5Y) Shows whether the relationship held over a longer period.	0.96
Correlation (All Time) Calculated using the full available price history since Jul 17, 2019	0.96

The correlation between FCPVX and FISVX has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.

Return for Risk

FCPVX vs. FISVX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FCPVX

FCPVX Risk / Return Rank: 85
FCPVX Sharpe Ratio Rank: 83
FCPVX Sortino Ratio Rank: 84
FCPVX Omega Ratio Rank: 77
FCPVX Calmar Ratio Rank: 90
FCPVX Martin Ratio Rank: 90

FISVX

FISVX Risk / Return Rank: 91
FISVX Sharpe Ratio Rank: 91
FISVX Sortino Ratio Rank: 89
FISVX Omega Ratio Rank: 83
FISVX Calmar Ratio Rank: 96
FISVX Martin Ratio Rank: 96

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FCPVX vs. FISVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Small Cap Value Fund (FCPVX) and Fidelity Small Cap Value Index Fund (FISVX). 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.

	FCPVX	FISVX	Difference
Sharpe ratio: Return per unit of total volatility	2.04	2.32	-0.29
Sortino ratio: Return per unit of downside risk	3.03	3.31	-0.28
Omega ratio: Gain probability vs. loss probability	1.35	1.40	-0.05
Calmar ratio: Return relative to maximum drawdown	3.52	4.76	-1.24
Martin ratio: Return relative to average drawdown	12.59	17.26	-4.67

FCPVX vs. FISVX - Sharpe Ratio Comparison

The current FCPVX Sharpe Ratio is 2.04, which is comparable to the FISVX Sharpe Ratio of 2.32. The chart below compares the historical Sharpe Ratios of FCPVX and FISVX, 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

FCPVX vs. FISVX - Drawdown Comparison

The maximum FCPVX drawdown since its inception was -57.65%, which is greater than FISVX's maximum drawdown of -44.66%. Use the drawdown chart below to compare losses from any high point for FCPVX and FISVX.

Drawdown Indicators

	FCPVX	FISVX	Difference
Max Drawdown Largest peak-to-trough decline	-57.65%	-44.66%	-12.99%
Max Drawdown (1Y) Largest decline over 1 year	-10.31%	-8.54%	-1.77%
Max Drawdown (3Y) Largest decline over 3 years	-23.81%	-26.50%	+2.69%
Max Drawdown (5Y) Largest decline over 5 years	-23.81%	-26.50%	+2.69%
Max Drawdown (10Y) Largest decline over 10 years	-44.59%	—	—
Current Drawdown Current decline from peak	-2.64%	-1.25%	-1.39%
Average Drawdown Average peak-to-trough decline	-7.92%	-10.11%	+2.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.88%	2.36%	+0.52%

Volatility

FCPVX vs. FISVX - Volatility Comparison

Fidelity Small Cap Value Fund (FCPVX) has a higher volatility of 4.20% compared to Fidelity Small Cap Value Index Fund (FISVX) at 3.17%. This indicates that FCPVX's price experiences larger fluctuations and is considered to be riskier than FISVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCPVX	FISVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.20%	3.17%	+1.03%
Volatility (6M) Calculated over the trailing 6-month period	13.46%	11.99%	+1.47%
Volatility (1Y) Calculated over the trailing 1-year period	17.90%	17.56%	+0.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.88%	21.51%	-0.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.33%	26.51%	-4.18%

FCPVX vs. FISVX - Expense Ratio Comparison

FCPVX has a 0.91% expense ratio, which is higher than FISVX's 0.05% expense ratio.

Dividends

FCPVX vs. FISVX - Dividend Comparison

FCPVX's dividend yield for the trailing twelve months is around 8.10%, more than FISVX's 1.77% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FCPVX Fidelity Small Cap Value Fund	8.10%	10.15%	6.13%	5.20%	5.92%	7.95%	0.46%	3.49%	36.44%	3.64%	7.12%	11.09%
FISVX Fidelity Small Cap Value Index Fund	1.77%	2.18%	1.70%	2.06%	3.69%	9.55%	1.33%	0.62%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FCPVX and FISVX in my portfolio?

With a correlation of 0.93, FCPVX and FISVX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, FCPVX or FISVX?

FCPVX has higher volatility (4.20%) compared to FISVX (3.17%). In terms of maximum drawdown, FCPVX dropped -57.65% vs FISVX's -44.66%.

Which has better risk-adjusted returns?

FISVX currently has the higher Sharpe Ratio (2.32 vs 2.04), 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.