FDYNX vs. SHAPX

Last updated Jun 4, 2026

FDYNX (Franklin DynaTech Fund Class C) and SHAPX (ClearBridge Appreciation Fund) are both mutual funds - FDYNX is a Large Cap Growth Equities fund actively managed by Franklin Templeton, while SHAPX is a Large Cap Blend Equities fund managed by Franklin Templeton. Over the past 10 years, FDYNX returned 17.50%/yr vs 13.25%/yr for SHAPX. Their correlation of 0.82 suggests significant overlap in exposure. FDYNX charges 1.52%/yr vs 0.93%/yr for SHAPX.

Performance

FDYNX vs. SHAPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin DynaTech Fund Class C (FDYNX) and ClearBridge Appreciation Fund (SHAPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FDYNX achieves a 13.14% return, which is significantly higher than SHAPX's 6.04% return. Over the past 10 years, FDYNX has outperformed SHAPX with an annualized return of 17.50%, while SHAPX has yielded a comparatively lower 13.25% annualized return.

FDYNX

• 1D: 0.42%
• 1M: 7.20%
• YTD: 13.14%
• 6M: 12.11%
• 1Y: 29.80%
• 3Y*: 24.92%
• 5Y*: 10.53%
• 10Y*: 17.50%

SHAPX

• 1D: -0.05%
• 1M: 2.33%
• YTD: 6.04%
• 6M: 5.66%
• 1Y: 17.56%
• 3Y*: 17.64%
• 5Y*: 11.44%
• 10Y*: 13.25%

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

FDYNX vs. SHAPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FDYNX Franklin DynaTech Fund Class C	13.14%	17.74%	29.60%	43.35%	-40.76%	11.67%	56.51%	35.33%	2.09%	38.25%
SHAPX ClearBridge Appreciation Fund	6.04%	14.32%	22.37%	19.50%	-12.56%	23.52%	14.53%	29.84%	-2.19%	18.31%

Correlation

The correlation between FDYNX and SHAPX 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	0.84
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (10Y) Calculated over the trailing 10-year period	0.80
Correlation (All Time) Calculated using the full available price history since Sep 17, 1996	0.82

The correlation between FDYNX and SHAPX has been stable across timeframes, ranging from 0.80 to 0.84 - a consistent structural relationship.

Return for Risk

FDYNX vs. SHAPX — Risk / Return Rank

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

FDYNX

FDYNX Risk / Return Rank: 22
FDYNX Sharpe Ratio Rank: 27
FDYNX Sortino Ratio Rank: 23
FDYNX Omega Ratio Rank: 25
FDYNX Calmar Ratio Rank: 17
FDYNX Martin Ratio Rank: 17

SHAPX

SHAPX Risk / Return Rank: 37
SHAPX Sharpe Ratio Rank: 36
SHAPX Sortino Ratio Rank: 36
SHAPX Omega Ratio Rank: 36
SHAPX Calmar Ratio Rank: 31
SHAPX Martin Ratio Rank: 45

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.

FDYNX vs. SHAPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin DynaTech Fund Class C (FDYNX) and ClearBridge Appreciation Fund (SHAPX). 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.

	FDYNX	SHAPX	Difference
Sharpe ratio: Return per unit of total volatility	1.50	1.73	-0.23
Sortino ratio: Return per unit of downside risk	2.02	2.50	-0.48
Omega ratio: Gain probability vs. loss probability	1.26	1.32	-0.05
Calmar ratio: Return relative to maximum drawdown	1.48	2.07	-0.60
Martin ratio: Return relative to average drawdown	4.57	9.48	-4.91
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FDYNX vs. SHAPX - Sharpe Ratio Comparison

The current FDYNX Sharpe Ratio is 1.50, which is comparable to the SHAPX Sharpe Ratio of 1.73. The chart below compares the historical Sharpe Ratios of FDYNX and SHAPX, 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

	FDYNX	SHAPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.50	1.73	-0.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.40	0.77	-0.37
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.71	0.79	-0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	0.79	-0.28

Drawdowns

FDYNX vs. SHAPX - Drawdown Comparison

The maximum FDYNX drawdown since its inception was -52.51%, which is greater than SHAPX's maximum drawdown of -46.19%. Use the drawdown chart below to compare losses from any high point for FDYNX and SHAPX.

Drawdown Indicators

	FDYNX	SHAPX	Difference
Max Drawdown Largest peak-to-trough decline	-52.51%	-46.19%	-6.32%
Max Drawdown (1Y) Largest decline over 1 year	-20.72%	-8.74%	-11.98%
Max Drawdown (3Y) Largest decline over 3 years	-26.35%	-16.15%	-10.20%
Max Drawdown (5Y) Largest decline over 5 years	-48.64%	-20.53%	-28.11%
Max Drawdown (10Y) Largest decline over 10 years	-48.64%	-32.21%	-16.43%
Current Drawdown Current decline from peak	0.00%	-0.49%	+0.49%
Average Drawdown Average peak-to-trough decline	-14.30%	-4.78%	-9.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.68%	1.91%	+4.77%

Volatility

FDYNX vs. SHAPX - Volatility Comparison

Franklin DynaTech Fund Class C (FDYNX) has a higher volatility of 4.76% compared to ClearBridge Appreciation Fund (SHAPX) at 2.46%. This indicates that FDYNX's price experiences larger fluctuations and is considered to be riskier than SHAPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FDYNX	SHAPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.76%	2.46%	+2.30%
Volatility (6M) Calculated over the trailing 6-month period	15.85%	7.90%	+7.95%
Volatility (1Y) Calculated over the trailing 1-year period	20.39%	10.46%	+9.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.22%	14.86%	+11.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.62%	16.73%	+7.89%

FDYNX vs. SHAPX - Expense Ratio Comparison

FDYNX has a 1.52% expense ratio, which is higher than SHAPX's 0.93% expense ratio.

Dividends

FDYNX vs. SHAPX - Dividend Comparison

FDYNX's dividend yield for the trailing twelve months is around 12.94%, less than SHAPX's 13.27% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDYNX Franklin DynaTech Fund Class C	12.94%	14.64%	0.00%	0.00%	0.00%	1.76%	0.00%	0.90%	3.51%	2.10%	4.16%	2.85%
SHAPX ClearBridge Appreciation Fund	13.27%	14.08%	9.00%	4.17%	8.85%	6.54%	4.13%	7.09%	6.71%	5.10%	3.29%	4.76%

Frequently Asked Questions

Can I hold both FDYNX and SHAPX in my portfolio?

FDYNX and SHAPX 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.

Which is riskier, FDYNX or SHAPX?

FDYNX has higher volatility (4.76%) compared to SHAPX (2.46%). In terms of maximum drawdown, FDYNX dropped -52.51% vs SHAPX's -46.19%.

Which has better risk-adjusted returns?

SHAPX currently has the higher Sharpe Ratio (1.73 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.