FNCMX vs. CHAIX

Last updated Jun 25, 2026

FNCMX (Fidelity NASDAQ Composite Index Fund) and CHAIX (Chase Growth Fund Institutional Class) are both Large Cap Growth Equities funds. FNCMX is passively managed, while CHAIX is actively managed. Over the past 10 years, FNCMX returned 19.35%/yr vs 18.43%/yr for CHAIX. Their correlation of 0.90 suggests significant overlap in exposure. FNCMX charges 0.29%/yr vs 1.00%/yr for CHAIX.

Performance

FNCMX vs. CHAIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity NASDAQ Composite Index Fund (FNCMX) and Chase Growth Fund Institutional Class (CHAIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FNCMX achieves a 10.44% return, which is significantly lower than CHAIX's 24.13% return. Both investments have delivered pretty close results over the past 10 years, with FNCMX having a 19.35% annualized return and CHAIX not far behind at 18.43%.

FNCMX

• 1D: -2.22%
• 1M: -2.76%
• YTD: 10.44%
• 6M: 8.70%
• 1Y: 29.32%
• 3Y*: 24.73%
• 5Y*: 13.17%
• 10Y*: 19.35%

CHAIX

• 1D: -1.93%
• 1M: 2.68%
• YTD: 24.13%
• 6M: 21.91%
• 1Y: 45.63%
• 3Y*: 32.95%
• 5Y*: 17.92%
• 10Y*: 18.43%

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

FNCMX vs. CHAIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FNCMX Fidelity NASDAQ Composite Index Fund	10.44%	21.11%	29.48%	45.13%	-32.40%	22.21%	44.57%	36.63%	-3.07%	28.35%
CHAIX Chase Growth Fund Institutional Class	24.13%	20.67%	38.77%	26.00%	-20.32%	22.36%	18.41%	41.69%	-3.87%	24.73%

Correlation

The correlation between FNCMX and CHAIX 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	0.87
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (10Y) Calculated over the trailing 10-year period	0.89
Correlation (All Time) Calculated using the full available price history since Jan 29, 2007	0.90

The correlation between FNCMX and CHAIX has been stable across timeframes, ranging from 0.83 to 0.90 - a consistent structural relationship.

Return for Risk

FNCMX vs. CHAIX — Risk / Return Rank

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

FNCMX

FNCMX Risk / Return Rank: 42
FNCMX Sharpe Ratio Rank: 43
FNCMX Sortino Ratio Rank: 38
FNCMX Omega Ratio Rank: 40
FNCMX Calmar Ratio Rank: 44
FNCMX Martin Ratio Rank: 46

CHAIX

CHAIX Risk / Return Rank: 88
CHAIX Sharpe Ratio Rank: 90
CHAIX Sortino Ratio Rank: 82
CHAIX Omega Ratio Rank: 79
CHAIX Calmar Ratio Rank: 94
CHAIX 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.

FNCMX vs. CHAIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity NASDAQ Composite Index Fund (FNCMX) and Chase Growth Fund Institutional Class (CHAIX). 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.

	FNCMX	CHAIX	Difference
Sharpe ratio: Return per unit of total volatility	1.78	2.63	-0.84
Sortino ratio: Return per unit of downside risk	2.38	3.41	-1.03
Omega ratio: Gain probability vs. loss probability	1.31	1.44	-0.13
Calmar ratio: Return relative to maximum drawdown	2.41	4.87	-2.47
Martin ratio: Return relative to average drawdown	9.10	19.99	-10.88

FNCMX vs. CHAIX - Sharpe Ratio Comparison

The current FNCMX Sharpe Ratio is 1.78, which is lower than the CHAIX Sharpe Ratio of 2.63. The chart below compares the historical Sharpe Ratios of FNCMX and CHAIX, 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

FNCMX vs. CHAIX - Drawdown Comparison

The maximum FNCMX drawdown since its inception was -55.08%, which is greater than CHAIX's maximum drawdown of -50.61%. Use the drawdown chart below to compare losses from any high point for FNCMX and CHAIX.

Drawdown Indicators

	FNCMX	CHAIX	Difference
Max Drawdown Largest peak-to-trough decline	-55.08%	-50.61%	-4.47%
Max Drawdown (1Y) Largest decline over 1 year	-13.01%	-9.86%	-3.15%
Max Drawdown (3Y) Largest decline over 3 years	-24.20%	-23.40%	-0.80%
Max Drawdown (5Y) Largest decline over 5 years	-35.64%	-24.58%	-11.06%
Max Drawdown (10Y) Largest decline over 10 years	-35.64%	-30.36%	-5.28%
Current Drawdown Current decline from peak	-5.47%	-2.11%	-3.36%
Average Drawdown Average peak-to-trough decline	-7.85%	-10.37%	+2.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.43%	2.40%	+1.03%

Volatility

FNCMX vs. CHAIX - Volatility Comparison

Fidelity NASDAQ Composite Index Fund (FNCMX) has a higher volatility of 7.69% compared to Chase Growth Fund Institutional Class (CHAIX) at 6.91%. This indicates that FNCMX's price experiences larger fluctuations and is considered to be riskier than CHAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FNCMX	CHAIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.69%	6.91%	+0.78%
Volatility (6M) Calculated over the trailing 6-month period	13.87%	14.39%	-0.52%
Volatility (1Y) Calculated over the trailing 1-year period	17.60%	18.31%	-0.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.68%	18.72%	+3.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.12%	19.09%	+3.03%

FNCMX vs. CHAIX - Expense Ratio Comparison

FNCMX has a 0.29% expense ratio, which is lower than CHAIX's 1.00% expense ratio.

Dividends

FNCMX vs. CHAIX - Dividend Comparison

FNCMX's dividend yield for the trailing twelve months is around 0.47%, less than CHAIX's 6.61% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CHAIX Chase Growth Fund Institutional Class	6.61%	8.20%	18.32%	5.36%	5.09%	18.78%	7.39%	21.65%	12.33%	11.44%	8.83%	9.93%
FNCMX Fidelity NASDAQ Composite Index Fund	0.47%	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 FNCMX and CHAIX in my portfolio?

FNCMX and CHAIX 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, FNCMX or CHAIX?

FNCMX has higher volatility (7.69%) compared to CHAIX (6.91%). In terms of maximum drawdown, FNCMX dropped -55.08% vs CHAIX's -50.61%.

Which has better risk-adjusted returns?

CHAIX currently has the higher Sharpe Ratio (2.63 vs 1.78), 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.