FOCSX vs. TPLGX

Last updated Jun 24, 2026

FOCSX (Fidelity Small Cap Growth K6 Fund) and TPLGX (T. Rowe Price Institutional Large Cap Core Growth Fund) are both mutual funds - FOCSX is a Small Cap Growth Equities fund managed by Fidelity, while TPLGX is a Large Cap Growth Equities fund managed by T. Rowe Price. Over the past 5 years, FOCSX returned 8.99%/yr vs 9.33%/yr for TPLGX. A 0.77 correlation means they provide meaningful diversification when combined. FOCSX charges 0.60%/yr vs 0.57%/yr for TPLGX.

Performance

FOCSX vs. TPLGX - Performance Comparison

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

Returns By Period

In the year-to-date period, FOCSX achieves a 25.57% return, which is significantly higher than TPLGX's 0.30% return.

FOCSX

• 1D: 1.17%
• 1M: 7.39%
• YTD: 25.57%
• 6M: 21.85%
• 1Y: 45.17%
• 3Y*: 23.32%
• 5Y*: 8.99%
• 10Y*: —

TPLGX

• 1D: -1.59%
• 1M: -3.18%
• YTD: 0.30%
• 6M: -0.83%
• 1Y: 15.07%
• 3Y*: 22.04%
• 5Y*: 9.33%
• 10Y*: 16.70%

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

FOCSX vs. TPLGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FOCSX Fidelity Small Cap Growth K6 Fund	25.57%	11.33%	21.04%	19.62%	-25.01%	10.50%	37.44%	36.25%	-4.60%	16.21%
TPLGX T. Rowe Price Institutional Large Cap Core Growth Fund	0.30%	18.66%	35.22%	49.63%	-38.49%	17.84%	34.70%	30.15%	2.18%	16.18%

Correlation

The correlation between FOCSX and TPLGX is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.62
Correlation (3Y) Calculated over the trailing 3-year period	0.64
Correlation (5Y) Calculated over the trailing 5-year period	0.74
Correlation (All Time) Calculated using the full available price history since May 25, 2017	0.77

The correlation between FOCSX and TPLGX shifts across timeframes, from 0.62 (1 year) to 0.77 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FOCSX vs. TPLGX — Risk / Return Rank

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

FOCSX

FOCSX Risk / Return Rank: 65
FOCSX Sharpe Ratio Rank: 59
FOCSX Sortino Ratio Rank: 51
FOCSX Omega Ratio Rank: 48
FOCSX Calmar Ratio Rank: 82
FOCSX Martin Ratio Rank: 83

TPLGX

TPLGX Risk / Return Rank: 13
TPLGX Sharpe Ratio Rank: 14
TPLGX Sortino Ratio Rank: 14
TPLGX Omega Ratio Rank: 13
TPLGX Calmar Ratio Rank: 11
TPLGX Martin Ratio Rank: 12

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. TPLGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Small Cap Growth K6 Fund (FOCSX) and T. Rowe Price Institutional Large Cap Core Growth Fund (TPLGX). 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.

	FOCSX	TPLGX	Difference
Sharpe ratio: Return per unit of total volatility	2.09	0.99	+1.09
Sortino ratio: Return per unit of downside risk	2.76	1.43	+1.33
Omega ratio: Gain probability vs. loss probability	1.35	1.18	+0.17
Calmar ratio: Return relative to maximum drawdown	3.59	0.96	+2.63
Martin ratio: Return relative to average drawdown	14.33	3.13	+11.21

FOCSX vs. TPLGX - Sharpe Ratio Comparison

The current FOCSX Sharpe Ratio is 2.09, which is higher than the TPLGX Sharpe Ratio of 0.99. The chart below compares the historical Sharpe Ratios of FOCSX and TPLGX, 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

FOCSX vs. TPLGX - Drawdown Comparison

The maximum FOCSX drawdown since its inception was -38.79%, smaller than the maximum TPLGX drawdown of -54.57%. Use the drawdown chart below to compare losses from any high point for FOCSX and TPLGX.

Drawdown Indicators

	FOCSX	TPLGX	Difference
Max Drawdown Largest peak-to-trough decline	-38.79%	-54.57%	+15.78%
Max Drawdown (1Y) Largest decline over 1 year	-12.98%	-17.15%	+4.17%
Max Drawdown (3Y) Largest decline over 3 years	-28.51%	-28.23%	-0.28%
Max Drawdown (5Y) Largest decline over 5 years	-38.79%	-43.45%	+4.66%
Max Drawdown (10Y) Largest decline over 10 years	—	-43.45%	—
Current Drawdown Current decline from peak	0.00%	-5.57%	+5.57%
Average Drawdown Average peak-to-trough decline	-10.89%	-8.66%	-2.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.24%	5.25%	-2.01%

Volatility

FOCSX vs. TPLGX - Volatility Comparison

Fidelity Small Cap Growth K6 Fund (FOCSX) has a higher volatility of 7.83% compared to T. Rowe Price Institutional Large Cap Core Growth Fund (TPLGX) at 6.44%. This indicates that FOCSX's price experiences larger fluctuations and is considered to be riskier than TPLGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FOCSX	TPLGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.83%	6.44%	+1.39%
Volatility (6M) Calculated over the trailing 6-month period	17.49%	13.18%	+4.31%
Volatility (1Y) Calculated over the trailing 1-year period	22.40%	16.59%	+5.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.68%	24.42%	-0.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.63%	22.98%	+0.65%

FOCSX vs. TPLGX - Expense Ratio Comparison

FOCSX has a 0.60% expense ratio, which is higher than TPLGX's 0.57% expense ratio.

Dividends

FOCSX vs. TPLGX - Dividend Comparison

FOCSX's dividend yield for the trailing twelve months is around 2.18%, less than TPLGX's 20.24% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FOCSX Fidelity Small Cap Growth K6 Fund	2.18%	2.74%	2.26%	0.23%	0.05%	31.03%	2.78%	0.00%	2.47%	0.09%	0.00%	0.00%
TPLGX T. Rowe Price Institutional Large Cap Core Growth Fund	20.24%	20.30%	12.87%	3.70%	4.39%	8.81%	0.59%	0.60%	1.65%	1.39%	0.25%	0.44%

Frequently Asked Questions

Can I hold both FOCSX and TPLGX in my portfolio?

FOCSX and TPLGX have a correlation of 0.62, 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 TPLGX?

FOCSX has higher volatility (7.83%) compared to TPLGX (6.44%). In terms of maximum drawdown, FOCSX dropped -38.79% vs TPLGX's -54.57%.

Which has better risk-adjusted returns?

FOCSX currently has the higher Sharpe Ratio (2.09 vs 0.99), 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.