FDCAX vs. PROVX

Last updated Aug 4, 2026

FDCAX (Fidelity Capital Appreciation Fund) and PROVX (Provident Trust Strategy Fund) are both Large Cap Growth Equities funds. Over the past 10 years, FDCAX returned 16.11%/yr vs 13.32%/yr for PROVX. Their 0.79 correlation means they have sometimes moved together and sometimes differently. FDCAX charges 0.84%/yr vs 0.93%/yr for PROVX.

Performance

FDCAX vs. PROVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Capital Appreciation Fund (FDCAX) and Provident Trust Strategy Fund (PROVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FDCAX achieves a 15.12% return, which is significantly higher than PROVX's 6.09% return. Over the past 10 years, FDCAX has outperformed PROVX with an annualized return of 16.11%, while PROVX has yielded a comparatively lower 13.32% annualized return.

FDCAX

• 1D: 1.49%
• 1M: 0.53%
• 6M: 10.21%
• YTD: 15.12%
• 1Y: 27.02%
• 3Y*: 21.65%
• 5Y*: 13.07%
• 10Y*: 16.11%
• ALL TIME*: 11.92%

PROVX

• 1D: 1.52%
• 1M: 0.50%
• 6M: 0.86%
• YTD: 6.09%
• 1Y: 21.67%
• 3Y*: 15.00%
• 5Y*: 7.06%
• 10Y*: 13.32%
• ALL TIME*: 8.26%

*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)
FDCAX Fidelity Capital Appreciation Fund	$0.00	$0.00	$0.00
PROVX Provident Trust Strategy Fund	$0.00	$0.00	$0.00

FDCAX vs. PROVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FDCAX Fidelity Capital Appreciation Fund	15.12%	18.05%	25.11%	28.81%	-21.23%	23.85%	33.92%	30.15%	-5.23%	22.83%
PROVX Provident Trust Strategy Fund	6.09%	13.10%	19.73%	17.59%	-22.62%	31.96%	19.47%	25.71%	-1.31%	29.40%

Correlation

The correlation between FDCAX and PROVX is 0.56, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.56
Correlation (3Y) Balances recent behavior with more history.	0.69
Correlation (5Y) Shows whether the relationship held over a longer period.	0.80
Correlation (10Y) Provides a long-term view across more market conditions.	0.83
Correlation (All Time) Calculated using the full available price history since Dec 23, 1986	0.79

Over the past year, the correlation between FDCAX and PROVX has dropped to 0.56 - well below their long-term average of 0.79, suggesting their price drivers have been diverging.

Return for Risk

FDCAX vs. PROVX — Risk / Return Rank

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

FDCAX

FDCAX Risk / Return Rank: 55
FDCAX Sharpe Ratio Rank: 54
FDCAX Sortino Ratio Rank: 49
FDCAX Omega Ratio Rank: 48
FDCAX Calmar Ratio Rank: 62
FDCAX Martin Ratio Rank: 64

PROVX

PROVX Risk / Return Rank: 51
PROVX Sharpe Ratio Rank: 59
PROVX Sortino Ratio Rank: 69
PROVX Omega Ratio Rank: 56
PROVX Calmar Ratio Rank: 36
PROVX Martin Ratio Rank: 37

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.

FDCAX vs. PROVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Capital Appreciation Fund (FDCAX) and Provident Trust Strategy Fund (PROVX). 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	PROVX	Difference
Sharpe ratio: Return per unit of total volatility	1.50	1.58	-0.08
Sortino ratio: Return per unit of downside risk	2.06	2.47	-0.41
Omega ratio: Gain probability vs. loss probability	1.26	1.29	-0.02
Calmar ratio: Return relative to maximum drawdown	2.23	1.65	+0.57
Martin ratio: Return relative to average drawdown	8.68	5.76	+2.93

FDCAX vs. PROVX - Sharpe Ratio Comparison

The current FDCAX Sharpe Ratio is 1.50, which is comparable to the PROVX Sharpe Ratio of 1.58. The chart below compares the historical Sharpe Ratios of FDCAX and PROVX, 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. PROVX - Drawdown Comparison

The maximum FDCAX drawdown since its inception was -58.53%, roughly equal to the maximum PROVX drawdown of -57.65%. Use the drawdown chart below to compare losses from any high point for FDCAX and PROVX.

Drawdown Indicators

	FDCAX	PROVX	Difference
Max Drawdown Largest peak-to-trough decline	-58.53%	-57.65%	-0.88%
Max Drawdown (1Y) Largest decline over 1 year	-11.06%	-12.54%	+1.48%
Max Drawdown (3Y) Largest decline over 3 years	-29.68%	-15.92%	-13.76%
Max Drawdown (5Y) Largest decline over 5 years	-29.68%	-27.48%	-2.20%
Max Drawdown (10Y) Largest decline over 10 years	-33.06%	-27.48%	-5.58%
Current Drawdown Current decline from peak	-2.23%	-0.10%	-2.13%
Average Drawdown Average peak-to-trough decline	-9.88%	-13.14%	+3.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.83%	3.59%	-0.76%

Volatility

FDCAX vs. PROVX - Volatility Comparison

Fidelity Capital Appreciation Fund (FDCAX) and Provident Trust Strategy Fund (PROVX) have volatilities of 4.81% and 4.67%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FDCAX	PROVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.81%	4.67%	+0.14%
Volatility (6M) Calculated over the trailing 6-month period	13.35%	10.55%	+2.80%
Volatility (1Y) Calculated over the trailing 1-year period	16.39%	13.17%	+3.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.17%	15.78%	+5.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.64%	16.19%	+4.45%

FDCAX vs. PROVX - Expense Ratio Comparison

FDCAX has a 0.84% expense ratio, which is lower than PROVX's 0.93% expense ratio.

Dividends

FDCAX vs. PROVX - Dividend Comparison

FDCAX's dividend yield for the trailing twelve months is around 6.92%, less than PROVX's 15.83% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDCAX Fidelity Capital Appreciation Fund	6.92%	7.96%	18.33%	3.33%	9.32%	16.76%	8.38%	13.50%	13.29%	10.43%	5.62%	12.38%
PROVX Provident Trust Strategy Fund	15.83%	16.80%	6.94%	4.61%	19.17%	0.35%	9.04%	4.40%	5.80%	1.54%	1.92%	7.73%

Frequently Asked Questions

Can I hold both FDCAX and PROVX in my portfolio?

FDCAX and PROVX have a correlation of 0.56, 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 PROVX?

FDCAX has higher volatility (4.81%) compared to PROVX (4.67%). In terms of maximum drawdown, FDCAX dropped -58.53% vs PROVX's -57.65%.

Which has better risk-adjusted returns?

PROVX currently has the higher Sharpe Ratio (1.58 vs 1.50), 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.