FRAAX vs. FOCKX

Last updated Jun 5, 2026

FRAAX (Franklin Growth Opportunities Fund) and FOCKX (Fidelity OTC Portfolio Class K) are both Large Cap Growth Equities funds. Over the past 10 years, FRAAX returned 14.89%/yr vs 22.80%/yr for FOCKX. Their correlation of 0.93 suggests significant overlap in exposure. FRAAX charges 0.65%/yr vs 0.73%/yr for FOCKX.

Performance

FRAAX vs. FOCKX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Growth Opportunities Fund (FRAAX) and Fidelity OTC Portfolio Class K (FOCKX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FRAAX achieves a 10.86% return, which is significantly lower than FOCKX's 28.33% return. Over the past 10 years, FRAAX has underperformed FOCKX with an annualized return of 14.89%, while FOCKX has yielded a comparatively higher 22.80% annualized return.

FRAAX

• 1D: -0.50%
• 1M: 6.39%
• YTD: 10.86%
• 6M: 10.17%
• 1Y: 17.78%
• 3Y*: 20.78%
• 5Y*: 7.13%
• 10Y*: 14.89%

FOCKX

• 1D: 0.53%
• 1M: 9.68%
• YTD: 28.33%
• 6M: 29.20%
• 1Y: 61.84%
• 3Y*: 35.16%
• 5Y*: 19.37%
• 10Y*: 22.80%

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

FRAAX vs. FOCKX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FRAAX Franklin Growth Opportunities Fund	10.86%	8.35%	26.35%	39.92%	-36.97%	9.71%	45.79%	46.13%	-1.10%	29.12%
FOCKX Fidelity OTC Portfolio Class K	28.33%	22.28%	38.91%	42.92%	-32.07%	25.06%	46.83%	39.36%	-3.18%	38.78%

Correlation

The correlation between FRAAX and FOCKX is 0.91, 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	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (10Y) Calculated over the trailing 10-year period	0.93
Correlation (All Time) Calculated using the full available price history since May 12, 2008	0.93

The correlation between FRAAX and FOCKX has been stable across timeframes, ranging from 0.91 to 0.93 - a consistent structural relationship.

Return for Risk

FRAAX vs. FOCKX — Risk / Return Rank

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

FRAAX

FRAAX Risk / Return Rank: 16
FRAAX Sharpe Ratio Rank: 18
FRAAX Sortino Ratio Rank: 17
FRAAX Omega Ratio Rank: 17
FRAAX Calmar Ratio Rank: 13
FRAAX Martin Ratio Rank: 15

FOCKX

FOCKX Risk / Return Rank: 92
FOCKX Sharpe Ratio Rank: 96
FOCKX Sortino Ratio Rank: 89
FOCKX Omega Ratio Rank: 85
FOCKX Calmar Ratio Rank: 94
FOCKX 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.

FRAAX vs. FOCKX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Growth Opportunities Fund (FRAAX) and Fidelity OTC Portfolio Class K (FOCKX). 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.

	FRAAX	FOCKX	Difference
Sharpe ratio: Return per unit of total volatility	1.18	3.57	-2.40
Sortino ratio: Return per unit of downside risk	1.68	4.42	-2.74
Omega ratio: Gain probability vs. loss probability	1.21	1.59	-0.38
Calmar ratio: Return relative to maximum drawdown	1.19	5.63	-4.45
Martin ratio: Return relative to average drawdown	3.96	24.93	-20.97
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FRAAX vs. FOCKX - Sharpe Ratio Comparison

The current FRAAX Sharpe Ratio is 1.18, which is lower than the FOCKX Sharpe Ratio of 3.57. The chart below compares the historical Sharpe Ratios of FRAAX and FOCKX, 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

	FRAAX	FOCKX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.18	3.57	-2.40
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.31	0.86	-0.55
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.66	1.02	-0.36
Sharpe Ratio (All Time) Calculated using the full available price history	0.42	0.74	-0.32

Drawdowns

FRAAX vs. FOCKX - Drawdown Comparison

The maximum FRAAX drawdown since its inception was -78.63%, which is greater than FOCKX's maximum drawdown of -53.33%. Use the drawdown chart below to compare losses from any high point for FRAAX and FOCKX.

Drawdown Indicators

	FRAAX	FOCKX	Difference
Max Drawdown Largest peak-to-trough decline	-78.63%	-53.33%	-25.30%
Max Drawdown (1Y) Largest decline over 1 year	-15.75%	-11.28%	-4.47%
Max Drawdown (3Y) Largest decline over 3 years	-25.26%	-24.83%	-0.43%
Max Drawdown (5Y) Largest decline over 5 years	-47.54%	-36.97%	-10.57%
Max Drawdown (10Y) Largest decline over 10 years	-47.54%	-36.97%	-10.57%
Current Drawdown Current decline from peak	-0.50%	0.00%	-0.50%
Average Drawdown Average peak-to-trough decline	-29.10%	-8.38%	-20.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.71%	2.54%	+2.17%

Volatility

FRAAX vs. FOCKX - Volatility Comparison

The current volatility for Franklin Growth Opportunities Fund (FRAAX) is 3.89%, while Fidelity OTC Portfolio Class K (FOCKX) has a volatility of 5.38%. This indicates that FRAAX experiences smaller price fluctuations and is considered to be less risky than FOCKX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FRAAX	FOCKX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.89%	5.38%	-1.49%
Volatility (6M) Calculated over the trailing 6-month period	12.32%	13.94%	-1.62%
Volatility (1Y) Calculated over the trailing 1-year period	15.90%	17.78%	-1.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.20%	22.68%	+0.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.50%	22.45%	+0.05%

FRAAX vs. FOCKX - Expense Ratio Comparison

FRAAX has a 0.65% expense ratio, which is lower than FOCKX's 0.73% expense ratio.

Dividends

FRAAX vs. FOCKX - Dividend Comparison

FRAAX's dividend yield for the trailing twelve months is around 14.90%, more than FOCKX's 5.89% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FOCKX Fidelity OTC Portfolio Class K	5.89%	7.56%	16.42%	0.09%	3.97%	11.34%	6.18%	7.49%	7.81%	4.85%	3.25%	5.42%
FRAAX Franklin Growth Opportunities Fund	14.90%	16.52%	9.57%	11.80%	4.31%	0.48%	5.29%	16.03%	12.10%	8.13%	1.97%	1.93%

Frequently Asked Questions

Can I hold both FRAAX and FOCKX in my portfolio?

With a correlation of 0.91, FRAAX and FOCKX 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, FRAAX or FOCKX?

FOCKX has higher volatility (5.38%) compared to FRAAX (3.89%). In terms of maximum drawdown, FRAAX dropped -78.63% vs FOCKX's -53.33%.

Which has better risk-adjusted returns?

FOCKX currently has the higher Sharpe Ratio (3.57 vs 1.18), 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.