FDCAX vs. FCPGX
FDCAX (Fidelity Capital Appreciation Fund) and FCPGX (Fidelity Small Cap Growth Fund) are both mutual funds - FDCAX is a Large Cap Growth Equities fund managed by Fidelity, while FCPGX is a Small Cap Growth Equities fund managed by Fidelity. Over the past 10 years, FDCAX returned 16.81%/yr vs 15.63%/yr for FCPGX. Their correlation of 0.88 suggests significant overlap in exposure. FDCAX charges 0.84%/yr vs 1.00%/yr for FCPGX.
Performance
FDCAX vs. FCPGX - Performance Comparison
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Returns By Period
In the year-to-date period, FDCAX achieves a 13.82% return, which is significantly lower than FCPGX's 23.66% return. Over the past 10 years, FDCAX has outperformed FCPGX with an annualized return of 16.81%, while FCPGX has yielded a comparatively lower 15.63% annualized return.
FDCAX
- 1D
- -0.11%
- 1M
- -1.22%
- YTD
- 13.82%
- 6M
- 12.58%
- 1Y
- 28.67%
- 3Y*
- 23.35%
- 5Y*
- 13.15%
- 10Y*
- 16.81%
FCPGX
- 1D
- 0.32%
- 1M
- 4.02%
- YTD
- 23.66%
- 6M
- 19.72%
- 1Y
- 42.05%
- 3Y*
- 22.35%
- 5Y*
- 8.05%
- 10Y*
- 15.63%
FDCAX vs. FCPGX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FDCAX Fidelity Capital Appreciation Fund | 13.82% | 18.05% | 25.11% | 28.81% | -21.23% | 23.85% | 33.92% | 30.15% | -5.23% | 22.83% |
FCPGX Fidelity Small Cap Growth Fund | 23.66% | 11.20% | 20.56% | 19.02% | -25.34% | 10.50% | 36.41% | 36.31% | -4.57% | 28.99% |
Correlation
The correlation between FDCAX and FCPGX is 0.83, 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 | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.83 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.87 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Nov 4, 2004 | 0.88 |
The correlation between FDCAX and FCPGX has been stable across timeframes, ranging from 0.83 to 0.88 - a consistent structural relationship.
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Return for Risk
FDCAX vs. FCPGX — Risk / Return Rank
FDCAX
FCPGX
FDCAX vs. FCPGX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Capital Appreciation Fund (FDCAX) and Fidelity Small Cap Growth Fund (FCPGX). 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.
| FDCAX | FCPGX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.03 | ||
| Sortino ratioReturn per unit of downside risk | -0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.31 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.58 | 3.12 | -0.54 |
| Martin ratioReturn relative to average drawdown | 10.73 | 12.42 | -1.69 |
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Drawdowns
FDCAX vs. FCPGX - Drawdown Comparison
The maximum FDCAX drawdown since its inception was -58.53%, roughly equal to the maximum FCPGX drawdown of -59.11%. Use the drawdown chart below to compare losses from any high point for FDCAX and FCPGX.
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Drawdown Indicators
| FDCAX | FCPGX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.53% | -59.11% | +0.58% |
Max Drawdown (1Y)Largest decline over 1 year | -11.06% | -13.12% | +2.06% |
Max Drawdown (3Y)Largest decline over 3 years | -29.68% | -28.69% | -0.99% |
Max Drawdown (5Y)Largest decline over 5 years | -29.68% | -39.04% | +9.36% |
Max Drawdown (10Y)Largest decline over 10 years | -33.06% | -39.04% | +5.98% |
Current DrawdownCurrent decline from peak | -3.33% | -1.28% | -2.05% |
Average DrawdownAverage peak-to-trough decline | -9.90% | -10.67% | +0.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.65% | 3.29% | -0.64% |
Volatility
FDCAX vs. FCPGX - Volatility Comparison
The current volatility for Fidelity Capital Appreciation Fund (FDCAX) is 7.25%, while Fidelity Small Cap Growth Fund (FCPGX) has a volatility of 8.05%. This indicates that FDCAX experiences smaller price fluctuations and is considered to be less risky than FCPGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FDCAX | FCPGX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.25% | 8.05% | -0.80% |
Volatility (6M)Calculated over the trailing 6-month period | 12.87% | 17.32% | -4.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.84% | 22.26% | -6.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.13% | 23.69% | -2.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.65% | 22.92% | -2.27% |
FDCAX vs. FCPGX - Expense Ratio Comparison
FDCAX has a 0.84% expense ratio, which is lower than FCPGX's 1.00% expense ratio.
Dividends
FDCAX vs. FCPGX - Dividend Comparison
FDCAX's dividend yield for the trailing twelve months is around 7.00%, more than FCPGX's 5.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FCPGX Fidelity Small Cap Growth Fund | 5.16% | 6.38% | 1.37% | 0.00% | 0.00% | 19.27% | 8.19% | 5.31% | 14.35% | 6.88% | 1.53% | 4.32% |
FDCAX Fidelity Capital Appreciation Fund | 7.00% | 7.96% | 18.33% | 3.33% | 9.32% | 16.76% | 8.38% | 13.50% | 13.29% | 10.43% | 5.62% | 12.38% |
Frequently Asked Questions
FDCAX and FCPGX have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FCPGX has higher volatility (8.05%) compared to FDCAX (7.25%). In terms of maximum drawdown, FDCAX dropped -58.53% vs FCPGX's -59.11%.
FCPGX currently has the higher Sharpe Ratio (1.84 vs 1.81), 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.
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