FDGRX vs. FOCPX

Last updated Jun 23, 2026

FDGRX (Fidelity Growth Company Fund) and FOCPX (Fidelity OTC Portfolio) are both Large Cap Growth Equities funds from Fidelity. Both are actively managed. Over the past 10 years, FDGRX returned 23.19%/yr vs 23.16%/yr for FOCPX. Their correlation of 0.94 suggests significant overlap in exposure. FDGRX charges 0.52%/yr vs 0.73%/yr for FOCPX.

Performance

FDGRX vs. FOCPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Growth Company Fund (FDGRX) and Fidelity OTC Portfolio (FOCPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FDGRX achieves a 23.00% return, which is significantly lower than FOCPX's 29.53% return. Both investments have delivered pretty close results over the past 10 years, with FDGRX having a 23.19% annualized return and FOCPX not far behind at 23.16%.

FDGRX

• 1D: 1.85%
• 1M: 2.21%
• YTD: 23.00%
• 6M: 16.48%
• 1Y: 47.42%
• 3Y*: 30.07%
• 5Y*: 16.39%
• 10Y*: 23.19%

FOCPX

• 1D: 2.04%
• 1M: 5.89%
• YTD: 29.53%
• 6M: 29.90%
• 1Y: 60.78%
• 3Y*: 34.57%
• 5Y*: 18.97%
• 10Y*: 23.16%

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

FDGRX vs. FOCPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FDGRX Fidelity Growth Company Fund	23.00%	18.54%	37.18%	47.25%	-33.86%	22.57%	67.42%	38.40%	-4.14%	36.76%
FOCPX Fidelity OTC Portfolio	29.53%	22.21%	38.95%	42.64%	-32.08%	24.94%	46.75%	39.20%	-3.30%	38.61%

Correlation

The correlation between FDGRX and FOCPX is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (10Y) Calculated over the trailing 10-year period	0.96
Correlation (All Time) Calculated using the full available price history since Dec 31, 1984	0.94

The correlation between FDGRX and FOCPX has been stable across timeframes, ranging from 0.94 to 0.97 - a consistent structural relationship.

Return for Risk

FDGRX vs. FOCPX — Risk / Return Rank

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

FDGRX

FDGRX Risk / Return Rank: 74
FDGRX Sharpe Ratio Rank: 79
FDGRX Sortino Ratio Rank: 61
FDGRX Omega Ratio Rank: 65
FDGRX Calmar Ratio Rank: 84
FDGRX Martin Ratio Rank: 79

FOCPX

FOCPX Risk / Return Rank: 92
FOCPX Sharpe Ratio Rank: 96
FOCPX Sortino Ratio Rank: 87
FOCPX Omega Ratio Rank: 84
FOCPX Calmar Ratio Rank: 95
FOCPX Martin Ratio Rank: 96

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.

FDGRX vs. FOCPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Growth Company Fund (FDGRX) and Fidelity OTC Portfolio (FOCPX). 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.

	FDGRX	FOCPX	Difference
Sharpe ratio: Return per unit of total volatility	2.41	3.13	-0.72
Sortino ratio: Return per unit of downside risk	2.98	3.85	-0.87
Omega ratio: Gain probability vs. loss probability	1.41	1.53	-0.12
Calmar ratio: Return relative to maximum drawdown	3.74	5.36	-1.63
Martin ratio: Return relative to average drawdown	13.71	22.70	-8.99

FDGRX vs. FOCPX - Sharpe Ratio Comparison

The current FDGRX Sharpe Ratio is 2.41, which is comparable to the FOCPX Sharpe Ratio of 3.13. The chart below compares the historical Sharpe Ratios of FDGRX and FOCPX, 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

FDGRX vs. FOCPX - Drawdown Comparison

The maximum FDGRX drawdown since its inception was -71.62%, roughly equal to the maximum FOCPX drawdown of -70.25%. Use the drawdown chart below to compare losses from any high point for FDGRX and FOCPX.

Drawdown Indicators

	FDGRX	FOCPX	Difference
Max Drawdown Largest peak-to-trough decline	-71.62%	-70.25%	-1.37%
Max Drawdown (1Y) Largest decline over 1 year	-12.60%	-11.29%	-1.31%
Max Drawdown (3Y) Largest decline over 3 years	-26.19%	-24.82%	-1.37%
Max Drawdown (5Y) Largest decline over 5 years	-40.25%	-37.05%	-3.20%
Max Drawdown (10Y) Largest decline over 10 years	-40.25%	-37.05%	-3.20%
Current Drawdown Current decline from peak	-0.61%	-0.06%	-0.55%
Average Drawdown Average peak-to-trough decline	-15.89%	-16.99%	+1.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.42%	2.66%	+0.76%

Volatility

FDGRX vs. FOCPX - Volatility Comparison

The current volatility for Fidelity Growth Company Fund (FDGRX) is 7.50%, while Fidelity OTC Portfolio (FOCPX) has a volatility of 8.83%. This indicates that FDGRX experiences smaller price fluctuations and is considered to be less risky than FOCPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FDGRX	FOCPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.50%	8.83%	-1.33%
Volatility (6M) Calculated over the trailing 6-month period	15.80%	15.82%	-0.02%
Volatility (1Y) Calculated over the trailing 1-year period	19.54%	19.37%	+0.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.10%	22.92%	+1.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.47%	22.56%	+0.91%

FDGRX vs. FOCPX - Expense Ratio Comparison

FDGRX has a 0.52% expense ratio, which is lower than FOCPX's 0.73% expense ratio.

Dividends

FDGRX vs. FOCPX - Dividend Comparison

FDGRX has not paid dividends to shareholders, while FOCPX's dividend yield for the trailing twelve months is around 6.00%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDGRX Fidelity Growth Company Fund	0.00%	0.00%	8.86%	3.83%	7.20%	10.67%	8.86%	3.84%	6.38%	4.73%	6.16%	3.92%
FOCPX Fidelity OTC Portfolio	6.00%	7.78%	16.76%	0.05%	4.06%	11.53%	6.23%	7.58%	7.93%	4.86%	3.24%	5.41%

Frequently Asked Questions

Can I hold both FDGRX and FOCPX in my portfolio?

With a correlation of 0.95, FDGRX and FOCPX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, FDGRX or FOCPX?

FOCPX has higher volatility (8.83%) compared to FDGRX (7.50%). In terms of maximum drawdown, FDGRX dropped -71.62% vs FOCPX's -70.25%.

Which has better risk-adjusted returns?

FOCPX currently has the higher Sharpe Ratio (3.13 vs 2.41), 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.