FCVIX vs. FCNTX

Last updated Jun 25, 2026

FCVIX (Fidelity Advisor Small Cap Value Fund Class I) and FCNTX (Fidelity Contrafund) are both mutual funds - FCVIX is a Small Cap Value Equities fund managed by Fidelity, while FCNTX is a Large Cap Growth Equities fund managed by Fidelity. Over the past 10 years, FCVIX returned 11.94%/yr vs 17.85%/yr for FCNTX. A 0.75 correlation means they provide meaningful diversification when combined. FCVIX charges 0.99%/yr vs 0.39%/yr for FCNTX.

Performance

FCVIX vs. FCNTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Small Cap Value Fund Class I (FCVIX) and Fidelity Contrafund (FCNTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FCVIX achieves a 23.25% return, which is significantly higher than FCNTX's 7.14% return. Over the past 10 years, FCVIX has underperformed FCNTX with an annualized return of 11.94%, while FCNTX has yielded a comparatively higher 17.85% annualized return.

FCVIX

• 1D: -0.44%
• 1M: 4.94%
• YTD: 23.25%
• 6M: 20.48%
• 1Y: 36.35%
• 3Y*: 19.11%
• 5Y*: 9.65%
• 10Y*: 11.94%

FCNTX

• 1D: -1.37%
• 1M: 0.58%
• YTD: 7.14%
• 6M: 6.01%
• 1Y: 19.55%
• 3Y*: 25.94%
• 5Y*: 14.13%
• 10Y*: 17.85%

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

FCVIX vs. FCNTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FCVIX Fidelity Advisor Small Cap Value Fund Class I	23.25%	8.02%	9.36%	17.82%	-13.07%	38.10%	11.21%	20.76%	-15.42%	12.27%
FCNTX Fidelity Contrafund	7.14%	21.76%	36.00%	38.67%	-28.31%	24.52%	32.48%	30.00%	-3.81%	32.18%

Correlation

The correlation between FCVIX and FCNTX is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.54
Correlation (3Y) Calculated over the trailing 3-year period	0.57
Correlation (5Y) Calculated over the trailing 5-year period	0.67
Correlation (10Y) Calculated over the trailing 10-year period	0.62
Correlation (All Time) Calculated using the full available price history since Nov 4, 2004	0.75

Over the past year, the correlation between FCVIX and FCNTX has dropped to 0.54 - well below their long-term average of 0.75, suggesting their price drivers have been diverging.

FCVIX vs. FCNTX - Sectors Allocation Comparison

Sectors	FCVIX	FCNTX
Financial Services	21.7%	15.5%
Industrials	12.7%	5.8%
Healthcare	11.1%	7.4%
Consumer Cyclical	11.1%	10.3%
Technology	9.8%	25.5%
Real Estate	8.1%	0.3%
Energy	7.6%	1.6%
Consumer Defensive	6.7%	3.0%
Basic Materials	6.1%	1.7%
Utilities	4.8%	1.8%
Communication Services	0.3%	20.8%

Return for Risk

FCVIX vs. FCNTX — Risk / Return Rank

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

FCVIX

FCVIX Risk / Return Rank: 72
FCVIX Sharpe Ratio Rank: 68
FCVIX Sortino Ratio Rank: 73
FCVIX Omega Ratio Rank: 57
FCVIX Calmar Ratio Rank: 85
FCVIX Martin Ratio Rank: 78

FCNTX

FCNTX Risk / Return Rank: 30
FCNTX Sharpe Ratio Rank: 29
FCNTX Sortino Ratio Rank: 27
FCNTX Omega Ratio Rank: 28
FCNTX Calmar Ratio Rank: 29
FCNTX Martin Ratio Rank: 38

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.

FCVIX vs. FCNTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Small Cap Value Fund Class I (FCVIX) and Fidelity Contrafund (FCNTX). 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.

	FCVIX	FCNTX	Difference
Sharpe ratio: Return per unit of total volatility	2.12	1.41	+0.71
Sortino ratio: Return per unit of downside risk	3.12	1.97	+1.15
Omega ratio: Gain probability vs. loss probability	1.36	1.25	+0.11
Calmar ratio: Return relative to maximum drawdown	3.70	1.88	+1.82
Martin ratio: Return relative to average drawdown	12.93	7.84	+5.09

FCVIX vs. FCNTX - Sharpe Ratio Comparison

The current FCVIX Sharpe Ratio is 2.12, which is higher than the FCNTX Sharpe Ratio of 1.41. The chart below compares the historical Sharpe Ratios of FCVIX and FCNTX, 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

FCVIX vs. FCNTX - Drawdown Comparison

The maximum FCVIX drawdown since its inception was -57.61%, which is greater than FCNTX's maximum drawdown of -49.19%. Use the drawdown chart below to compare losses from any high point for FCVIX and FCNTX.

Drawdown Indicators

	FCVIX	FCNTX	Difference
Max Drawdown Largest peak-to-trough decline	-57.61%	-49.19%	-8.42%
Max Drawdown (1Y) Largest decline over 1 year	-10.35%	-11.30%	+0.95%
Max Drawdown (3Y) Largest decline over 3 years	-23.82%	-19.75%	-4.07%
Max Drawdown (5Y) Largest decline over 5 years	-23.82%	-32.59%	+8.77%
Max Drawdown (10Y) Largest decline over 10 years	-44.61%	-32.59%	-12.02%
Current Drawdown Current decline from peak	-0.44%	-3.92%	+3.48%
Average Drawdown Average peak-to-trough decline	-7.95%	-8.15%	+0.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.95%	2.70%	+0.25%

Volatility

FCVIX vs. FCNTX - Volatility Comparison

The current volatility for Fidelity Advisor Small Cap Value Fund Class I (FCVIX) is 5.83%, while Fidelity Contrafund (FCNTX) has a volatility of 6.50%. This indicates that FCVIX experiences smaller price fluctuations and is considered to be less risky than FCNTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCVIX	FCNTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.83%	6.50%	-0.67%
Volatility (6M) Calculated over the trailing 6-month period	13.40%	11.91%	+1.49%
Volatility (1Y) Calculated over the trailing 1-year period	18.14%	15.14%	+3.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.95%	19.33%	+1.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.35%	19.73%	+2.62%

FCVIX vs. FCNTX - Expense Ratio Comparison

FCVIX has a 0.99% expense ratio, which is higher than FCNTX's 0.39% expense ratio.

Dividends

FCVIX vs. FCNTX - Dividend Comparison

FCVIX's dividend yield for the trailing twelve months is around 8.19%, more than FCNTX's 4.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FCNTX Fidelity Contrafund	4.36%	5.21%	4.19%	3.78%	11.87%	10.80%	8.01%	4.16%	7.46%	6.08%	3.81%	5.33%
FCVIX Fidelity Advisor Small Cap Value Fund Class I	8.19%	10.10%	6.09%	5.19%	5.92%	7.96%	0.48%	3.49%	36.40%	3.65%	7.15%	11.09%

Frequently Asked Questions

Can I hold both FCVIX and FCNTX in my portfolio?

FCVIX and FCNTX have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FCVIX or FCNTX?

FCNTX has higher volatility (6.50%) compared to FCVIX (5.83%). In terms of maximum drawdown, FCVIX dropped -57.61% vs FCNTX's -49.19%.

Which has better risk-adjusted returns?

FCVIX currently has the higher Sharpe Ratio (2.12 vs 1.41), 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.