FDCAX vs. FLPSX

Last updated Jul 18, 2026

FDCAX (Fidelity Capital Appreciation Fund) and FLPSX (Fidelity Low-Priced Stock Fund) are both mutual funds - FDCAX is a Large Cap Growth Equities fund managed by Fidelity, while FLPSX is a Mid Cap Value Equities fund actively managed by Fidelity. Over the past 10 years, FDCAX returned 16.17%/yr vs 11.27%/yr for FLPSX. Their correlation of 0.81 suggests significant overlap in exposure. FDCAX charges 0.84%/yr vs 0.87%/yr for FLPSX.

Performance

FDCAX vs. FLPSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Capital Appreciation Fund (FDCAX) and Fidelity Low-Priced Stock Fund (FLPSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with FDCAX having a 14.39% return and FLPSX slightly lower at 14.09%. Over the past 10 years, FDCAX has outperformed FLPSX with an annualized return of 16.17%, while FLPSX has yielded a comparatively lower 11.27% annualized return.

FDCAX

• 1D: -1.12%
• 1M: -0.85%
• 6M: 9.98%
• YTD: 14.39%
• 1Y: 25.37%
• 3Y*: 21.67%
• 5Y*: 13.37%
• 10Y*: 16.17%

FLPSX

• 1D: 0.75%
• 1M: 3.36%
• 6M: 9.80%
• YTD: 14.09%
• 1Y: 20.53%
• 3Y*: 14.81%
• 5Y*: 9.97%
• 10Y*: 11.27%

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

FDCAX vs. FLPSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FDCAX Fidelity Capital Appreciation Fund	14.39%	18.05%	25.11%	28.81%	-21.23%	23.85%	33.92%	30.15%	-5.23%	22.83%
FLPSX Fidelity Low-Priced Stock Fund	14.09%	14.69%	7.23%	14.41%	-5.69%	24.46%	9.34%	25.75%	-10.80%	18.88%

Correlation

The correlation between FDCAX and FLPSX is 0.66, 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	0.66
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (5Y) Calculated over the trailing 5-year period	0.76
Correlation (10Y) Calculated over the trailing 10-year period	0.76
Correlation (All Time) Calculated using the full available price history since Dec 27, 1989	0.81

The correlation between FDCAX and FLPSX shifts across timeframes, from 0.66 (1 year) to 0.81 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FDCAX vs. FLPSX — Risk / Return Rank

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

FDCAX

FDCAX Risk / Return Rank: 49
FDCAX Sharpe Ratio Rank: 48
FDCAX Sortino Ratio Rank: 43
FDCAX Omega Ratio Rank: 44
FDCAX Calmar Ratio Rank: 53
FDCAX Martin Ratio Rank: 59

FLPSX

FLPSX Risk / Return Rank: 54
FLPSX Sharpe Ratio Rank: 55
FLPSX Sortino Ratio Rank: 61
FLPSX Omega Ratio Rank: 52
FLPSX Calmar Ratio Rank: 57
FLPSX Martin Ratio Rank: 47

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.

FDCAX vs. FLPSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Capital Appreciation Fund (FDCAX) and Fidelity Low-Priced Stock Fund (FLPSX). 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	FLPSX	Difference
Sharpe ratio: Return per unit of total volatility	1.64	1.73	-0.09
Sortino ratio: Return per unit of downside risk	2.21	2.57	-0.36
Omega ratio: Gain probability vs. loss probability	1.29	1.31	-0.02
Calmar ratio: Return relative to maximum drawdown	2.37	2.45	-0.08
Martin ratio: Return relative to average drawdown	9.61	8.33	+1.28

FDCAX vs. FLPSX - Sharpe Ratio Comparison

The current FDCAX Sharpe Ratio is 1.64, which is comparable to the FLPSX Sharpe Ratio of 1.73. The chart below compares the historical Sharpe Ratios of FDCAX and FLPSX, 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

FDCAX vs. FLPSX - Drawdown Comparison

The maximum FDCAX drawdown since its inception was -58.53%, which is greater than FLPSX's maximum drawdown of -54.81%. Use the drawdown chart below to compare losses from any high point for FDCAX and FLPSX.

Drawdown Indicators

	FDCAX	FLPSX	Difference
Max Drawdown Largest peak-to-trough decline	-58.53%	-54.81%	-3.72%
Max Drawdown (1Y) Largest decline over 1 year	-11.06%	-8.87%	-2.19%
Max Drawdown (3Y) Largest decline over 3 years	-29.68%	-17.66%	-12.02%
Max Drawdown (5Y) Largest decline over 5 years	-29.68%	-18.76%	-10.92%
Max Drawdown (10Y) Largest decline over 10 years	-33.06%	-38.16%	+5.10%
Current Drawdown Current decline from peak	-2.85%	0.00%	-2.85%
Average Drawdown Average peak-to-trough decline	-9.89%	-5.64%	-4.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.72%	2.60%	+0.12%

Volatility

FDCAX vs. FLPSX - Volatility Comparison

Fidelity Capital Appreciation Fund (FDCAX) has a higher volatility of 4.75% compared to Fidelity Low-Priced Stock Fund (FLPSX) at 2.54%. This indicates that FDCAX's price experiences larger fluctuations and is considered to be riskier than FLPSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FDCAX	FLPSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.75%	2.54%	+2.21%
Volatility (6M) Calculated over the trailing 6-month period	13.06%	9.11%	+3.95%
Volatility (1Y) Calculated over the trailing 1-year period	15.99%	12.53%	+3.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.15%	17.16%	+3.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.61%	17.25%	+3.36%

FDCAX vs. FLPSX - Expense Ratio Comparison

FDCAX has a 0.84% expense ratio, which is lower than FLPSX's 0.87% expense ratio.

Dividends

FDCAX vs. FLPSX - Dividend Comparison

FDCAX's dividend yield for the trailing twelve months is around 6.96%, less than FLPSX's 11.64% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDCAX Fidelity Capital Appreciation Fund	6.96%	7.96%	18.33%	3.33%	9.32%	16.76%	8.38%	13.50%	13.29%	10.43%	5.62%	12.38%
FLPSX Fidelity Low-Priced Stock Fund	11.64%	13.28%	16.24%	18.29%	9.45%	12.11%	11.14%	8.14%	13.45%	7.45%	4.85%	4.04%

Frequently Asked Questions

Can I hold both FDCAX and FLPSX in my portfolio?

FDCAX and FLPSX have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FDCAX or FLPSX?

FDCAX has higher volatility (4.75%) compared to FLPSX (2.54%). In terms of maximum drawdown, FDCAX dropped -58.53% vs FLPSX's -54.81%.

Which has better risk-adjusted returns?

FLPSX currently has the higher Sharpe Ratio (1.73 vs 1.64), 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.