FOCPX vs. IYW
FOCPX (Fidelity OTC Portfolio) and IYW (iShares U.S. Technology ETF) are both funds - FOCPX is a Large Cap Growth Equities fund actively managed by Fidelity, while IYW is a Technology Equities fund tracking the Russell 1000 Technology RIC 22.5/45 Capped Index. FOCPX is actively managed, while IYW is passively managed. Over the past 10 years, FOCPX returned 22.49%/yr vs 25.63%/yr for IYW. Their correlation of 0.93 suggests significant overlap in exposure. FOCPX charges 0.73%/yr vs 0.38%/yr for IYW.
Performance
FOCPX vs. IYW - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with FOCPX having a 22.78% return and IYW slightly lower at 22.66%. Over the past 10 years, FOCPX has underperformed IYW with an annualized return of 22.49%, while IYW has yielded a comparatively higher 25.63% annualized return.
FOCPX
- 1D
- 2.86%
- 1M
- -0.60%
- YTD
- 22.78%
- 6M
- 24.57%
- 1Y
- 51.96%
- 3Y*
- 32.72%
- 5Y*
- 17.85%
- 10Y*
- 22.49%
IYW
- 1D
- 0.61%
- 1M
- 1.73%
- YTD
- 22.66%
- 6M
- 23.40%
- 1Y
- 47.94%
- 3Y*
- 32.06%
- 5Y*
- 21.19%
- 10Y*
- 25.63%
FOCPX vs. IYW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FOCPX Fidelity OTC Portfolio | 22.78% | 22.21% | 38.95% | 42.64% | -32.08% | 24.94% | 46.75% | 39.20% | -3.30% | 38.61% |
IYW iShares U.S. Technology ETF | 22.66% | 25.38% | 30.25% | 65.44% | -34.83% | 35.44% | 47.45% | 46.64% | -0.93% | 36.60% |
Correlation
The correlation between FOCPX and IYW is 0.93, 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 | 0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.95 |
Correlation (All Time) Calculated using the full available price history since May 19, 2000 | 0.93 |
The correlation between FOCPX and IYW has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.
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Return for Risk
FOCPX vs. IYW — Risk / Return Rank
FOCPX
IYW
FOCPX vs. IYW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity OTC Portfolio (FOCPX) and iShares U.S. Technology ETF (IYW). 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.
| FOCPX | IYW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.56 | ||
| Sortino ratioReturn per unit of downside risk | +0.64 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.38 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 4.68 | 2.70 | +1.97 |
| Martin ratioReturn relative to average drawdown | 19.87 | 8.68 | +11.19 |
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Drawdowns
FOCPX vs. IYW - Drawdown Comparison
The maximum FOCPX drawdown since its inception was -70.25%, smaller than the maximum IYW drawdown of -81.90%. Use the drawdown chart below to compare losses from any high point for FOCPX and IYW.
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Drawdown Indicators
| FOCPX | IYW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.25% | -81.90% | +11.65% |
Max Drawdown (1Y)Largest decline over 1 year | -11.29% | -17.81% | +6.52% |
Max Drawdown (3Y)Largest decline over 3 years | -24.82% | -26.47% | +1.65% |
Max Drawdown (5Y)Largest decline over 5 years | -37.05% | -39.44% | +2.39% |
Max Drawdown (10Y)Largest decline over 10 years | -37.05% | -39.44% | +2.39% |
Current DrawdownCurrent decline from peak | -4.42% | -5.81% | +1.39% |
Average DrawdownAverage peak-to-trough decline | -17.00% | -34.62% | +17.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.65% | 5.54% | -2.89% |
Volatility
FOCPX vs. IYW - Volatility Comparison
The current volatility for Fidelity OTC Portfolio (FOCPX) is 8.13%, while iShares U.S. Technology ETF (IYW) has a volatility of 9.41%. This indicates that FOCPX experiences smaller price fluctuations and is considered to be less risky than IYW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FOCPX | IYW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.13% | 9.41% | -1.28% |
Volatility (6M)Calculated over the trailing 6-month period | 15.35% | 17.67% | -2.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.86% | 21.47% | -2.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.83% | 26.07% | -3.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.51% | 25.20% | -2.69% |
FOCPX vs. IYW - Expense Ratio Comparison
FOCPX has a 0.73% expense ratio, which is higher than IYW's 0.38% expense ratio.
Dividends
FOCPX vs. IYW - Dividend Comparison
FOCPX's dividend yield for the trailing twelve months is around 6.33%, more than IYW's 0.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FOCPX Fidelity OTC Portfolio | 6.33% | 7.78% | 16.76% | 0.05% | 4.06% | 11.53% | 6.23% | 7.58% | 7.93% | 4.86% | 3.24% | 5.41% |
IYW iShares U.S. Technology ETF | 0.11% | 0.14% | 0.21% | 0.34% | 0.50% | 0.31% | 0.56% | 0.72% | 0.92% | 0.82% | 1.14% | 1.12% |
Frequently Asked Questions
With a correlation of 0.93, FOCPX and IYW 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.
IYW has higher volatility (9.41%) compared to FOCPX (8.13%). In terms of maximum drawdown, FOCPX dropped -70.25% vs IYW's -81.90%.
FOCPX currently has the higher Sharpe Ratio (2.80 vs 2.24), 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.
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