FOCSX vs. TCMSX

Last updated Jun 4, 2026

FOCSX (Fidelity Small Cap Growth K6 Fund) and TCMSX (Voya Small Cap Growth Fund) are both Small Cap Growth Equities funds. Over the past 5 years, FOCSX returned 8.71%/yr vs 9.32%/yr for TCMSX. Their correlation of 0.94 suggests significant overlap in exposure. FOCSX charges 0.60%/yr vs 0.93%/yr for TCMSX.

Performance

FOCSX vs. TCMSX - Performance Comparison

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

Returns By Period

The year-to-date returns for both stocks are quite close, with FOCSX having a 18.94% return and TCMSX slightly lower at 18.13%.

FOCSX

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

TCMSX

• 1D: 1.16%
• 1M: 6.11%
• YTD: 18.13%
• 6M: 17.07%
• 1Y: 46.45%
• 3Y*: 21.24%
• 5Y*: 9.32%
• 10Y*: 14.85%

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

FOCSX vs. TCMSX - 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%
TCMSX Voya Small Cap Growth Fund	18.13%	14.32%	18.46%	20.32%	-23.60%	18.45%	27.99%	33.27%	-6.04%	12.92%

Correlation

The correlation between FOCSX and TCMSX is 0.87, 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	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (All Time) Calculated using the full available price history since May 26, 2017	0.94

The correlation between FOCSX and TCMSX has been stable across timeframes, ranging from 0.87 to 0.94 - a consistent structural relationship.

Return for Risk

FOCSX vs. TCMSX — 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

TCMSX

TCMSX Risk / Return Rank: 63
TCMSX Sharpe Ratio Rank: 68
TCMSX Sortino Ratio Rank: 54
TCMSX Omega Ratio Rank: 52
TCMSX Calmar Ratio Rank: 72
TCMSX Martin Ratio Rank: 66

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. TCMSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Small Cap Growth K6 Fund (FOCSX) and Voya Small Cap Growth Fund (TCMSX). 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	TCMSX	Difference
Sharpe ratio: Return per unit of total volatility	1.91	2.42	-0.51
Sortino ratio: Return per unit of downside risk	2.59	3.11	-0.53
Omega ratio: Gain probability vs. loss probability	1.32	1.40	-0.08
Calmar ratio: Return relative to maximum drawdown	3.13	3.30	-0.16
Martin ratio: Return relative to average drawdown	12.61	12.89	-0.28
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. TCMSX - Sharpe Ratio Comparison

The current FOCSX Sharpe Ratio is 1.91, which is comparable to the TCMSX Sharpe Ratio of 2.42. The chart below compares the historical Sharpe Ratios of FOCSX and TCMSX, 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	TCMSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.91	2.42	-0.51
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.37	0.39	-0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.64	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.60	0.49	+0.11

Drawdowns

FOCSX vs. TCMSX - Drawdown Comparison

The maximum FOCSX drawdown since its inception was -38.79%, smaller than the maximum TCMSX drawdown of -55.98%. Use the drawdown chart below to compare losses from any high point for FOCSX and TCMSX.

Drawdown Indicators

	FOCSX	TCMSX	Difference
Max Drawdown Largest peak-to-trough decline	-38.79%	-55.98%	+17.19%
Max Drawdown (1Y) Largest decline over 1 year	-12.98%	-16.86%	+3.88%
Max Drawdown (3Y) Largest decline over 3 years	-28.51%	-30.74%	+2.23%
Max Drawdown (5Y) Largest decline over 5 years	-38.79%	-34.60%	-4.19%
Max Drawdown (10Y) Largest decline over 10 years	—	-39.29%	—
Current Drawdown Current decline from peak	-0.39%	-0.45%	+0.06%
Average Drawdown Average peak-to-trough decline	-10.95%	-11.77%	+0.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.21%	4.12%	-0.91%

Volatility

FOCSX vs. TCMSX - Volatility Comparison

The current volatility for Fidelity Small Cap Growth K6 Fund (FOCSX) is 6.49%, while Voya Small Cap Growth Fund (TCMSX) has a volatility of 7.98%. This indicates that FOCSX experiences smaller price fluctuations and is considered to be less risky than TCMSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FOCSX	TCMSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.49%	7.98%	-1.49%
Volatility (6M) Calculated over the trailing 6-month period	16.40%	17.80%	-1.40%
Volatility (1Y) Calculated over the trailing 1-year period	21.35%	22.99%	-1.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.48%	24.35%	-0.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.58%	23.64%	-0.06%

FOCSX vs. TCMSX - Expense Ratio Comparison

FOCSX has a 0.60% expense ratio, which is lower than TCMSX's 0.93% expense ratio.

Dividends

FOCSX vs. TCMSX - Dividend Comparison

FOCSX's dividend yield for the trailing twelve months is around 2.31%, less than TCMSX's 4.72% 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%
TCMSX Voya Small Cap Growth Fund	4.72%	5.57%	10.53%	0.00%	0.00%	20.02%	6.69%	1.40%	14.82%	16.10%	0.00%	16.82%

Frequently Asked Questions

Can I hold both FOCSX and TCMSX in my portfolio?

FOCSX and TCMSX have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FOCSX or TCMSX?

TCMSX has higher volatility (7.98%) compared to FOCSX (6.49%). In terms of maximum drawdown, FOCSX dropped -38.79% vs TCMSX's -55.98%.

Which has better risk-adjusted returns?

TCMSX currently has the higher Sharpe Ratio (2.42 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.