FCSSX vs. EIPCX

Last updated Aug 4, 2026

FCSSX (Fidelity Series Commodity Strategy Fund) and EIPCX (Parametric Commodity Strategy Fund Class I) are both Commodities funds. Over the past 10 years, FCSSX returned 6.72%/yr vs 10.88%/yr for EIPCX. Their correlation of 0.90 means they have usually moved in the same direction. FCSSX charges 0.00%/yr vs 0.66%/yr for EIPCX.

Performance

FCSSX vs. EIPCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Series Commodity Strategy Fund (FCSSX) and Parametric Commodity Strategy Fund Class I (EIPCX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FCSSX achieves a 16.89% return, which is significantly lower than EIPCX's 19.91% return. Over the past 10 years, FCSSX has underperformed EIPCX with an annualized return of 6.72%, while EIPCX has yielded a comparatively higher 10.88% annualized return.

FCSSX

• 1D: -0.04%
• 1M: 5.39%
• 6M: 11.87%
• YTD: 16.89%
• 1Y: 29.15%
• 3Y*: 10.30%
• 5Y*: 9.81%
• 10Y*: 6.72%
• ALL TIME*: 1.21%

EIPCX

• 1D: -0.13%
• 1M: 5.44%
• 6M: 14.88%
• YTD: 19.91%
• 1Y: 37.05%
• 3Y*: 15.10%
• 5Y*: 13.66%
• 10Y*: 10.88%
• ALL TIME*: 3.21%

*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)
EIPCX Parametric Commodity Strategy Fund Class I	$0.00	$0.00	$0.00
FCSSX Fidelity Series Commodity Strategy Fund	$0.00	$0.00	$0.00

FCSSX vs. EIPCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FCSSX Fidelity Series Commodity Strategy Fund	16.89%	15.43%	5.36%	-8.25%	18.11%	27.59%	-3.11%	7.41%	-12.10%	0.92%
EIPCX Parametric Commodity Strategy Fund Class I	19.91%	22.27%	9.97%	-4.70%	17.76%	30.13%	7.83%	9.58%	-9.45%	7.07%

Correlation

The correlation between FCSSX and EIPCX is 0.87, 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.	0.87
Correlation (3Y) Balances recent behavior with more history.	0.87
Correlation (5Y) Shows whether the relationship held over a longer period.	0.89
Correlation (10Y) Provides a long-term view across more market conditions.	0.89
Correlation (All Time) Calculated using the full available price history since May 26, 2011	0.90

The correlation between FCSSX and EIPCX has been stable across timeframes, ranging from 0.87 to 0.90 - a consistent structural relationship.

Return for Risk

FCSSX vs. EIPCX — Risk / Return Rank

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

FCSSX

FCSSX Risk / Return Rank: 70
FCSSX Sharpe Ratio Rank: 82
FCSSX Sortino Ratio Rank: 75
FCSSX Omega Ratio Rank: 76
FCSSX Calmar Ratio Rank: 66
FCSSX Martin Ratio Rank: 51

EIPCX

EIPCX Risk / Return Rank: 86
EIPCX Sharpe Ratio Rank: 95
EIPCX Sortino Ratio Rank: 89
EIPCX Omega Ratio Rank: 87
EIPCX Calmar Ratio Rank: 84
EIPCX Martin Ratio Rank: 75

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.

FCSSX vs. EIPCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Series Commodity Strategy Fund (FCSSX) and Parametric Commodity Strategy Fund Class I (EIPCX). 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.

	FCSSX	EIPCX	Difference
Sharpe ratio: Return per unit of total volatility	2.00	2.56	-0.56
Sortino ratio: Return per unit of downside risk	2.62	3.32	-0.69
Omega ratio: Gain probability vs. loss probability	1.35	1.44	-0.09
Calmar ratio: Return relative to maximum drawdown	2.31	2.99	-0.67
Martin ratio: Return relative to average drawdown	7.45	9.64	-2.18

FCSSX vs. EIPCX - Sharpe Ratio Comparison

The current FCSSX Sharpe Ratio is 2.00, which is comparable to the EIPCX Sharpe Ratio of 2.56. The chart below compares the historical Sharpe Ratios of FCSSX and EIPCX, 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

FCSSX vs. EIPCX - Drawdown Comparison

The maximum FCSSX drawdown since its inception was -66.04%, which is greater than EIPCX's maximum drawdown of -54.05%. Use the drawdown chart below to compare losses from any high point for FCSSX and EIPCX.

Drawdown Indicators

	FCSSX	EIPCX	Difference
Max Drawdown Largest peak-to-trough decline	-66.04%	-54.05%	-11.99%
Max Drawdown (1Y) Largest decline over 1 year	-12.43%	-12.19%	-0.24%
Max Drawdown (3Y) Largest decline over 3 years	-12.43%	-12.19%	-0.24%
Max Drawdown (5Y) Largest decline over 5 years	-24.07%	-18.00%	-6.07%
Max Drawdown (10Y) Largest decline over 10 years	-33.37%	-28.53%	-4.84%
Current Drawdown Current decline from peak	-12.54%	-5.92%	-6.62%
Average Drawdown Average peak-to-trough decline	-35.97%	-24.06%	-11.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.85%	3.77%	+0.08%

Volatility

FCSSX vs. EIPCX - Volatility Comparison

Fidelity Series Commodity Strategy Fund (FCSSX) has a higher volatility of 3.98% compared to Parametric Commodity Strategy Fund Class I (EIPCX) at 3.52%. This indicates that FCSSX's price experiences larger fluctuations and is considered to be riskier than EIPCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCSSX	EIPCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.98%	3.52%	+0.46%
Volatility (6M) Calculated over the trailing 6-month period	11.77%	11.26%	+0.51%
Volatility (1Y) Calculated over the trailing 1-year period	14.38%	14.35%	+0.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.91%	14.56%	+1.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.30%	13.28%	+1.02%

FCSSX vs. EIPCX - Expense Ratio Comparison

FCSSX has a 0.00% expense ratio, which is lower than EIPCX's 0.66% expense ratio.

Dividends

FCSSX vs. EIPCX - Dividend Comparison

FCSSX's dividend yield for the trailing twelve months is around 2.30%, less than EIPCX's 11.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
EIPCX Parametric Commodity Strategy Fund Class I	11.12%	13.33%	5.65%	3.69%	14.93%	13.83%	3.10%	1.54%	0.87%	5.14%	6.59%
FCSSX Fidelity Series Commodity Strategy Fund	2.30%	2.69%	12.74%	4.53%	128.24%	41.74%	0.44%	1.49%	6.76%	0.53%	0.00%

Frequently Asked Questions

Can I hold both FCSSX and EIPCX in my portfolio?

FCSSX and EIPCX have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FCSSX or EIPCX?

FCSSX has higher volatility (3.98%) compared to EIPCX (3.52%). In terms of maximum drawdown, FCSSX dropped -66.04% vs EIPCX's -54.05%.

Which has better risk-adjusted returns?

EIPCX currently has the higher Sharpe Ratio (2.56 vs 2.00), 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.