FOCSX vs. SCHA

Last updated Jun 4, 2026

FOCSX (Fidelity Small Cap Growth K6 Fund) and SCHA (Schwab U.S. Small-Cap ETF) are both funds - FOCSX is a Small Cap Growth Equities fund managed by Fidelity, while SCHA is a Small Cap Blend Equities fund tracking the Dow Jones U.S. Small-Cap Total Stock Market Index. Over the past 5 years, FOCSX returned 8.71%/yr vs 7.13%/yr for SCHA. Their correlation of 0.92 suggests significant overlap in exposure. FOCSX charges 0.60%/yr vs 0.04%/yr for SCHA.

Performance

FOCSX vs. SCHA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Small Cap Growth K6 Fund (FOCSX) and Schwab U.S. Small-Cap ETF (SCHA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with FOCSX having a 18.94% return and SCHA slightly higher at 19.79%.

FOCSX

• 1D: 0.83%
• 1M: 4.22%
• YTD: 18.94%
• 6M: 17.01%
• 1Y: 38.32%
• 3Y*: 21.29%
• 5Y*: 8.71%
• 10Y*: —

SCHA

• 1D: -0.58%
• 1M: 4.77%
• YTD: 19.79%
• 6M: 19.32%
• 1Y: 40.27%
• 3Y*: 18.92%
• 5Y*: 7.13%
• 10Y*: 11.13%

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

FOCSX vs. SCHA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FOCSX Fidelity Small Cap Growth K6 Fund	18.94%	11.33%	21.04%	19.62%	-25.01%	10.50%	37.44%	36.25%	-4.60%	16.21%
SCHA Schwab U.S. Small-Cap ETF	19.79%	11.60%	11.16%	18.46%	-19.81%	16.45%	19.34%	26.50%	-11.79%	12.08%

Correlation

The correlation between FOCSX and SCHA is 0.92, 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	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (All Time) Calculated using the full available price history since May 26, 2017	0.92

The correlation between FOCSX and SCHA has been stable across timeframes, ranging from 0.92 to 0.95 - a consistent structural relationship.

Return for Risk

FOCSX vs. SCHA — Risk / Return Rank

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

FOCSX

FOCSX Risk / Return Rank: 50
FOCSX Sharpe Ratio Rank: 43
FOCSX Sortino Ratio Rank: 38
FOCSX Omega Ratio Rank: 37
FOCSX Calmar Ratio Rank: 66
FOCSX Martin Ratio Rank: 64

SCHA

SCHA Risk / Return Rank: 71
SCHA Sharpe Ratio Rank: 66
SCHA Sortino Ratio Rank: 67
SCHA Omega Ratio Rank: 60
SCHA Calmar Ratio Rank: 81
SCHA Martin Ratio Rank: 79

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.

FOCSX vs. SCHA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Small Cap Growth K6 Fund (FOCSX) and Schwab U.S. Small-Cap ETF (SCHA). 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.

	FOCSX	SCHA	Difference
Sharpe ratio: Return per unit of total volatility	1.91	2.25	-0.35
Sortino ratio: Return per unit of downside risk	2.59	3.16	-0.57
Omega ratio: Gain probability vs. loss probability	1.32	1.38	-0.06
Calmar ratio: Return relative to maximum drawdown	3.13	4.26	-1.12
Martin ratio: Return relative to average drawdown	12.61	15.66	-3.05
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FOCSX vs. SCHA - Sharpe Ratio Comparison

The current FOCSX Sharpe Ratio is 1.91, which is comparable to the SCHA Sharpe Ratio of 2.25. The chart below compares the historical Sharpe Ratios of FOCSX and SCHA, 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

	FOCSX	SCHA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.91	2.25	-0.35
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.37	0.33	+0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.49	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.60	0.57	+0.03

Drawdowns

FOCSX vs. SCHA - Drawdown Comparison

The maximum FOCSX drawdown since its inception was -38.79%, smaller than the maximum SCHA drawdown of -42.41%. Use the drawdown chart below to compare losses from any high point for FOCSX and SCHA.

Drawdown Indicators

	FOCSX	SCHA	Difference
Max Drawdown Largest peak-to-trough decline	-38.79%	-42.41%	+3.62%
Max Drawdown (1Y) Largest decline over 1 year	-12.98%	-9.50%	-3.48%
Max Drawdown (3Y) Largest decline over 3 years	-28.51%	-27.29%	-1.22%
Max Drawdown (5Y) Largest decline over 5 years	-38.79%	-30.79%	-8.00%
Max Drawdown (10Y) Largest decline over 10 years	—	-42.41%	—
Current Drawdown Current decline from peak	-0.39%	-0.58%	+0.19%
Average Drawdown Average peak-to-trough decline	-10.95%	-7.58%	-3.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.21%	2.58%	+0.63%

Volatility

FOCSX vs. SCHA - Volatility Comparison

Fidelity Small Cap Growth K6 Fund (FOCSX) has a higher volatility of 6.49% compared to Schwab U.S. Small-Cap ETF (SCHA) at 5.08%. This indicates that FOCSX's price experiences larger fluctuations and is considered to be riskier than SCHA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FOCSX	SCHA	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.49%	5.08%	+1.41%
Volatility (6M) Calculated over the trailing 6-month period	16.40%	12.83%	+3.57%
Volatility (1Y) Calculated over the trailing 1-year period	21.35%	18.01%	+3.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.48%	21.93%	+1.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.58%	22.71%	+0.87%

FOCSX vs. SCHA - Expense Ratio Comparison

FOCSX has a 0.60% expense ratio, which is higher than SCHA's 0.04% expense ratio.

Dividends

FOCSX vs. SCHA - Dividend Comparison

FOCSX's dividend yield for the trailing twelve months is around 2.31%, more than SCHA's 1.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FOCSX Fidelity Small Cap Growth K6 Fund	2.31%	2.74%	2.26%	0.23%	0.05%	31.03%	2.78%	0.00%	2.47%	0.09%	0.00%	0.00%
SCHA Schwab U.S. Small-Cap ETF	1.00%	1.26%	1.51%	1.42%	1.37%	1.19%	1.05%	1.39%	1.58%	1.24%	1.50%	1.48%

Frequently Asked Questions

Can I hold both FOCSX and SCHA in my portfolio?

With a correlation of 0.92, FOCSX and SCHA 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, FOCSX or SCHA?

FOCSX has higher volatility (6.49%) compared to SCHA (5.08%). In terms of maximum drawdown, FOCSX dropped -38.79% vs SCHA's -42.41%.

Which has better risk-adjusted returns?

SCHA currently has the higher Sharpe Ratio (2.25 vs 1.91), 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.