FEQIX vs. FAGIX

Last updated Aug 1, 2026

FEQIX (Fidelity Equity-Income Fund) and FAGIX (Fidelity Capital & Income Fund) are both mutual funds - FEQIX is a Large Cap Value Equities fund actively managed by Fidelity, while FAGIX is a High Yield Bonds fund actively managed by Fidelity. Both are actively managed. Over the past 10 years, FEQIX returned 11.96%/yr vs 7.47%/yr for FAGIX. Their 0.49 correlation means their historical movements had little consistent relationship. FEQIX charges 0.57%/yr vs 0.67%/yr for FAGIX.

Performance

FEQIX vs. FAGIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Equity-Income Fund (FEQIX) and Fidelity Capital & Income Fund (FAGIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FEQIX achieves a 13.03% return, which is significantly higher than FAGIX's 5.47% return. Over the past 10 years, FEQIX has outperformed FAGIX with an annualized return of 11.96%, while FAGIX has yielded a comparatively lower 7.47% annualized return.

FEQIX

• 1D: 0.88%
• 1M: 1.19%
• 6M: 9.01%
• YTD: 13.03%
• 1Y: 23.68%
• 3Y*: 17.05%
• 5Y*: 11.59%
• 10Y*: 11.96%
• ALL TIME*: 8.41%

FAGIX

• 1D: 1.00%
• 1M: -1.59%
• 6M: 3.79%
• YTD: 5.47%
• 1Y: 11.22%
• 3Y*: 11.21%
• 5Y*: 6.17%
• 10Y*: 7.47%
• ALL TIME*: 6.07%

*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)
FAGIX Fidelity Capital & Income Fund	$0.00	$0.00	$0.00
FEQIX Fidelity Equity-Income Fund	$0.00	$0.00	$0.00

FEQIX vs. FAGIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FEQIX Fidelity Equity-Income Fund	13.03%	18.96%	15.34%	10.62%	-5.10%	24.49%	6.77%	27.90%	-8.46%	12.80%
FAGIX Fidelity Capital & Income Fund	5.47%	12.38%	10.69%	13.02%	-11.50%	11.13%	9.95%	18.96%	-7.17%	11.66%

Correlation

The correlation between FEQIX and FAGIX is 0.52, 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.	0.52
Correlation (3Y) Balances recent behavior with more history.	0.62
Correlation (5Y) Shows whether the relationship held over a longer period.	0.65
Correlation (10Y) Provides a long-term view across more market conditions.	0.69
Correlation (All Time) Calculated using the full available price history since Jan 2, 1980	0.49

The correlation between FEQIX and FAGIX shifts across timeframes, from 0.49 (all time) to 0.69 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

FEQIX vs. FAGIX — Risk / Return Rank

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

FEQIX

FEQIX Risk / Return Rank: 90
FEQIX Sharpe Ratio Rank: 90
FEQIX Sortino Ratio Rank: 89
FEQIX Omega Ratio Rank: 85
FEQIX Calmar Ratio Rank: 90
FEQIX Martin Ratio Rank: 93

FAGIX

FAGIX Risk / Return Rank: 74
FAGIX Sharpe Ratio Rank: 69
FAGIX Sortino Ratio Rank: 66
FAGIX Omega Ratio Rank: 67
FAGIX Calmar Ratio Rank: 83
FAGIX Martin Ratio Rank: 84

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.

FEQIX vs. FAGIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Equity-Income Fund (FEQIX) and Fidelity Capital & Income Fund (FAGIX). 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.

	FEQIX	FAGIX	Difference
Sharpe ratio: Return per unit of total volatility	2.27	1.55	+0.71
Sortino ratio: Return per unit of downside risk	3.27	2.20	+1.06
Omega ratio: Gain probability vs. loss probability	1.41	1.28	+0.13
Calmar ratio: Return relative to maximum drawdown	3.37	2.72	+0.66
Martin ratio: Return relative to average drawdown	13.83	10.26	+3.57

FEQIX vs. FAGIX - Sharpe Ratio Comparison

The current FEQIX Sharpe Ratio is 2.27, which is higher than the FAGIX Sharpe Ratio of 1.55. The chart below compares the historical Sharpe Ratios of FEQIX and FAGIX, 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

FEQIX vs. FAGIX - Drawdown Comparison

The maximum FEQIX drawdown since its inception was -62.38%, which is greater than FAGIX's maximum drawdown of -37.97%. Use the drawdown chart below to compare losses from any high point for FEQIX and FAGIX.

Drawdown Indicators

	FEQIX	FAGIX	Difference
Max Drawdown Largest peak-to-trough decline	-62.38%	-37.97%	-24.41%
Max Drawdown (1Y) Largest decline over 1 year	-6.48%	-4.02%	-2.46%
Max Drawdown (3Y) Largest decline over 3 years	-13.18%	-7.26%	-5.92%
Max Drawdown (5Y) Largest decline over 5 years	-17.20%	-15.42%	-1.78%
Max Drawdown (10Y) Largest decline over 10 years	-33.12%	-28.45%	-4.67%
Current Drawdown Current decline from peak	-0.21%	-3.07%	+2.86%
Average Drawdown Average peak-to-trough decline	-7.98%	-6.97%	-1.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.58%	1.06%	+0.52%

Volatility

FEQIX vs. FAGIX - Volatility Comparison

Fidelity Equity-Income Fund (FEQIX) has a higher volatility of 2.67% compared to Fidelity Capital & Income Fund (FAGIX) at 2.24%. This indicates that FEQIX's price experiences larger fluctuations and is considered to be riskier than FAGIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FEQIX	FAGIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.67%	2.24%	+0.43%
Volatility (6M) Calculated over the trailing 6-month period	7.36%	5.94%	+1.42%
Volatility (1Y) Calculated over the trailing 1-year period	9.66%	7.04%	+2.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.39%	6.79%	+6.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.41%	7.84%	+7.57%

FEQIX vs. FAGIX - Expense Ratio Comparison

FEQIX has a 0.57% expense ratio, which is lower than FAGIX's 0.67% expense ratio.

Dividends

FEQIX vs. FAGIX - Dividend Comparison

FEQIX's dividend yield for the trailing twelve months is around 4.45%, less than FAGIX's 5.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FAGIX Fidelity Capital & Income Fund	5.05%	4.74%	5.02%	5.28%	10.25%	6.08%	4.59%	5.00%	5.67%	5.05%	4.57%	4.51%
FEQIX Fidelity Equity-Income Fund	4.45%	4.67%	5.51%	4.26%	4.56%	9.90%	3.38%	7.16%	9.76%	6.29%	4.28%	12.17%

Frequently Asked Questions

Can I hold both FEQIX and FAGIX in my portfolio?

FEQIX and FAGIX have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FEQIX or FAGIX?

FEQIX has higher volatility (2.67%) compared to FAGIX (2.24%). In terms of maximum drawdown, FEQIX dropped -62.38% vs FAGIX's -37.97%.

Which has better risk-adjusted returns?

FEQIX currently has the higher Sharpe Ratio (2.27 vs 1.55), 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.