FDSSX vs. FNCMX

Last updated Jun 4, 2026

FDSSX (Fidelity Stock Selector All Cap Fund) and FNCMX (Fidelity NASDAQ Composite Index Fund) are both Large Cap Growth Equities funds from Fidelity. Over the past 10 years, FDSSX returned 15.36%/yr vs 19.45%/yr for FNCMX. Their correlation of 0.92 suggests significant overlap in exposure. FDSSX charges 0.68%/yr vs 0.29%/yr for FNCMX.

Performance

FDSSX vs. FNCMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Stock Selector All Cap Fund (FDSSX) and Fidelity NASDAQ Composite Index Fund (FNCMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FDSSX achieves a 15.83% return, which is significantly lower than FNCMX's 16.82% return. Over the past 10 years, FDSSX has underperformed FNCMX with an annualized return of 15.36%, while FNCMX has yielded a comparatively higher 19.45% annualized return.

FDSSX

• 1D: 0.34%
• 1M: 5.88%
• YTD: 15.83%
• 6M: 16.38%
• 1Y: 37.40%
• 3Y*: 22.85%
• 5Y*: 13.15%
• 10Y*: 15.36%

FNCMX

• 1D: 0.03%
• 1M: 8.17%
• YTD: 16.82%
• 6M: 15.82%
• 1Y: 40.51%
• 3Y*: 27.91%
• 5Y*: 15.70%
• 10Y*: 19.45%

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

FDSSX vs. FNCMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FDSSX Fidelity Stock Selector All Cap Fund	15.83%	18.89%	19.79%	26.94%	-19.55%	23.14%	24.90%	32.21%	-8.61%	24.42%
FNCMX Fidelity NASDAQ Composite Index Fund	16.82%	21.11%	29.48%	45.13%	-32.40%	22.21%	44.57%	36.63%	-3.07%	28.35%

Correlation

The correlation between FDSSX and FNCMX is 0.96 - 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	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (10Y) Calculated over the trailing 10-year period	0.94
Correlation (All Time) Calculated using the full available price history since Jan 9, 2003	0.92

The correlation between FDSSX and FNCMX has been stable across timeframes, ranging from 0.92 to 0.96 - a consistent structural relationship.

Return for Risk

FDSSX vs. FNCMX — Risk / Return Rank

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

FDSSX

FDSSX Risk / Return Rank: 87
FDSSX Sharpe Ratio Rank: 89
FDSSX Sortino Ratio Rank: 84
FDSSX Omega Ratio Rank: 81
FDSSX Calmar Ratio Rank: 87
FDSSX Martin Ratio Rank: 93

FNCMX

FNCMX Risk / Return Rank: 68
FNCMX Sharpe Ratio Rank: 79
FNCMX Sortino Ratio Rank: 64
FNCMX Omega Ratio Rank: 63
FNCMX Calmar Ratio Rank: 69
FNCMX Martin Ratio Rank: 65

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.

FDSSX vs. FNCMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Stock Selector All Cap Fund (FDSSX) and Fidelity NASDAQ Composite Index Fund (FNCMX). 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.

	FDSSX	FNCMX	Difference
Sharpe ratio: Return per unit of total volatility	2.95	2.58	+0.37
Sortino ratio: Return per unit of downside risk	3.95	3.36	+0.59
Omega ratio: Gain probability vs. loss probability	1.53	1.44	+0.09
Calmar ratio: Return relative to maximum drawdown	4.17	3.22	+0.95
Martin ratio: Return relative to average drawdown	20.16	12.65	+7.51
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FDSSX vs. FNCMX - Sharpe Ratio Comparison

The current FDSSX Sharpe Ratio is 2.95, which is comparable to the FNCMX Sharpe Ratio of 2.58. The chart below compares the historical Sharpe Ratios of FDSSX and FNCMX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FDSSX	FNCMX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.95	2.58	+0.37
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.74	0.70	+0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.83	0.89	-0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.63	0.58	+0.05

Drawdowns

FDSSX vs. FNCMX - Drawdown Comparison

The maximum FDSSX drawdown since its inception was -56.77%, roughly equal to the maximum FNCMX drawdown of -55.08%. Use the drawdown chart below to compare losses from any high point for FDSSX and FNCMX.

Drawdown Indicators

	FDSSX	FNCMX	Difference
Max Drawdown Largest peak-to-trough decline	-56.77%	-55.08%	-1.69%
Max Drawdown (1Y) Largest decline over 1 year	-9.19%	-13.01%	+3.82%
Max Drawdown (3Y) Largest decline over 3 years	-20.86%	-24.20%	+3.34%
Max Drawdown (5Y) Largest decline over 5 years	-25.22%	-35.64%	+10.42%
Max Drawdown (10Y) Largest decline over 10 years	-34.37%	-35.64%	+1.27%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-9.88%	-7.86%	-2.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.90%	3.30%	-1.40%

Volatility

FDSSX vs. FNCMX - Volatility Comparison

The current volatility for Fidelity Stock Selector All Cap Fund (FDSSX) is 3.37%, while Fidelity NASDAQ Composite Index Fund (FNCMX) has a volatility of 4.12%. This indicates that FDSSX experiences smaller price fluctuations and is considered to be less risky than FNCMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FDSSX	FNCMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.37%	4.12%	-0.75%
Volatility (6M) Calculated over the trailing 6-month period	10.00%	12.10%	-2.10%
Volatility (1Y) Calculated over the trailing 1-year period	12.99%	16.23%	-3.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.75%	22.46%	-4.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.57%	22.05%	-3.48%

FDSSX vs. FNCMX - Expense Ratio Comparison

FDSSX has a 0.68% expense ratio, which is higher than FNCMX's 0.29% expense ratio.

Dividends

FDSSX vs. FNCMX - Dividend Comparison

FDSSX's dividend yield for the trailing twelve months is around 4.13%, more than FNCMX's 0.44% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDSSX Fidelity Stock Selector All Cap Fund	4.13%	4.79%	4.83%	2.03%	0.36%	0.84%	5.22%	6.09%	4.46%	3.07%	1.04%	5.16%
FNCMX Fidelity NASDAQ Composite Index Fund	0.44%	0.51%	0.61%	0.67%	0.88%	0.47%	0.67%	4.41%	1.93%	0.03%	1.01%	1.50%

Frequently Asked Questions

Can I hold both FDSSX and FNCMX in my portfolio?

With a correlation of 0.96, FDSSX and FNCMX 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, FDSSX or FNCMX?

FNCMX has higher volatility (4.12%) compared to FDSSX (3.37%). In terms of maximum drawdown, FDSSX dropped -56.77% vs FNCMX's -55.08%.

Which has better risk-adjusted returns?

FDSSX currently has the higher Sharpe Ratio (2.95 vs 2.58), 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.