FSOPX vs. AATIX

Last updated Jun 4, 2026

FSOPX (Fidelity Series Small Cap Opportunities Fund) and AATIX (Ancora/Thelen Small-Mid Cap Fund) are both Small Cap Blend Equities funds. Over the past 10 years, FSOPX returned 12.77%/yr vs 8.94%/yr for AATIX. Their correlation of 0.92 suggests significant overlap in exposure. FSOPX charges 0.00%/yr vs 1.22%/yr for AATIX.

Performance

FSOPX vs. AATIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Series Small Cap Opportunities Fund (FSOPX) and Ancora/Thelen Small-Mid Cap Fund (AATIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FSOPX achieves a 16.83% return, which is significantly higher than AATIX's 4.10% return. Over the past 10 years, FSOPX has outperformed AATIX with an annualized return of 12.77%, while AATIX has yielded a comparatively lower 8.94% annualized return.

FSOPX

• 1D: 0.85%
• 1M: 1.12%
• YTD: 16.83%
• 6M: 15.66%
• 1Y: 40.89%
• 3Y*: 21.01%
• 5Y*: 11.01%
• 10Y*: 12.77%

AATIX

• 1D: 0.37%
• 1M: 1.62%
• YTD: 4.10%
• 6M: 5.98%
• 1Y: 12.84%
• 3Y*: 11.58%
• 5Y*: 3.68%
• 10Y*: 8.94%

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

FSOPX vs. AATIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FSOPX Fidelity Series Small Cap Opportunities Fund	16.83%	15.81%	15.31%	20.38%	-17.82%	23.39%	17.03%	29.92%	-8.12%	11.10%
AATIX Ancora/Thelen Small-Mid Cap Fund	4.10%	4.07%	10.12%	21.23%	-17.34%	24.46%	12.14%	24.90%	-12.42%	19.06%

Correlation

The correlation between FSOPX and AATIX is 0.89, 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	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.92
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 Jan 8, 2013	0.92

The correlation between FSOPX and AATIX has been stable across timeframes, ranging from 0.89 to 0.93 - a consistent structural relationship.

Return for Risk

FSOPX vs. AATIX — Risk / Return Rank

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

FSOPX

FSOPX Risk / Return Rank: 73
FSOPX Sharpe Ratio Rank: 69
FSOPX Sortino Ratio Rank: 66
FSOPX Omega Ratio Rank: 55
FSOPX Calmar Ratio Rank: 88
FSOPX Martin Ratio Rank: 87

AATIX

AATIX Risk / Return Rank: 11
AATIX Sharpe Ratio Rank: 11
AATIX Sortino Ratio Rank: 11
AATIX Omega Ratio Rank: 10
AATIX Calmar Ratio Rank: 11
AATIX Martin Ratio Rank: 11

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.

FSOPX vs. AATIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Series Small Cap Opportunities Fund (FSOPX) and Ancora/Thelen Small-Mid Cap Fund (AATIX). 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.

	FSOPX	AATIX	Difference
Sharpe ratio: Return per unit of total volatility	2.42	0.84	+1.58
Sortino ratio: Return per unit of downside risk	3.41	1.32	+2.09
Omega ratio: Gain probability vs. loss probability	1.41	1.15	+0.26
Calmar ratio: Return relative to maximum drawdown	4.35	1.11	+3.24
Martin ratio: Return relative to average drawdown	17.03	3.24	+13.80
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FSOPX vs. AATIX - Sharpe Ratio Comparison

The current FSOPX Sharpe Ratio is 2.42, which is higher than the AATIX Sharpe Ratio of 0.84. The chart below compares the historical Sharpe Ratios of FSOPX and AATIX, 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

	FSOPX	AATIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.42	0.84	+1.58
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.51	0.19	+0.32
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.58	0.43	+0.15
Sharpe Ratio (All Time) Calculated using the full available price history	0.39	0.48	-0.09

Drawdowns

FSOPX vs. AATIX - Drawdown Comparison

The maximum FSOPX drawdown since its inception was -61.75%, which is greater than AATIX's maximum drawdown of -43.17%. Use the drawdown chart below to compare losses from any high point for FSOPX and AATIX.

Drawdown Indicators

	FSOPX	AATIX	Difference
Max Drawdown Largest peak-to-trough decline	-61.75%	-43.17%	-18.58%
Max Drawdown (1Y) Largest decline over 1 year	-9.99%	-13.22%	+3.23%
Max Drawdown (3Y) Largest decline over 3 years	-27.17%	-29.94%	+2.77%
Max Drawdown (5Y) Largest decline over 5 years	-30.06%	-29.94%	-0.12%
Max Drawdown (10Y) Largest decline over 10 years	-39.15%	-43.17%	+4.02%
Current Drawdown Current decline from peak	-1.66%	-7.31%	+5.65%
Average Drawdown Average peak-to-trough decline	-10.37%	-7.38%	-2.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.54%	4.51%	-1.97%

Volatility

FSOPX vs. AATIX - Volatility Comparison

Fidelity Series Small Cap Opportunities Fund (FSOPX) and Ancora/Thelen Small-Mid Cap Fund (AATIX) have volatilities of 5.26% and 5.05%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSOPX	AATIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.26%	5.05%	+0.21%
Volatility (6M) Calculated over the trailing 6-month period	13.46%	12.61%	+0.85%
Volatility (1Y) Calculated over the trailing 1-year period	17.92%	17.35%	+0.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.70%	19.77%	+1.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.99%	20.89%	+1.10%

FSOPX vs. AATIX - Expense Ratio Comparison

FSOPX has a 0.00% expense ratio, which is lower than AATIX's 1.22% expense ratio.

Dividends

FSOPX vs. AATIX - Dividend Comparison

FSOPX's dividend yield for the trailing twelve months is around 3.78%, less than AATIX's 8.43% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AATIX Ancora/Thelen Small-Mid Cap Fund	8.43%	8.77%	0.00%	1.88%	2.21%	23.11%	0.28%	0.05%	7.60%	7.54%	0.14%	1.01%
FSOPX Fidelity Series Small Cap Opportunities Fund	3.78%	4.41%	9.41%	0.98%	5.16%	30.85%	2.01%	6.67%	13.99%	10.31%	0.69%	5.93%

Frequently Asked Questions

Can I hold both FSOPX and AATIX in my portfolio?

FSOPX and AATIX have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FSOPX or AATIX?

FSOPX has higher volatility (5.26%) compared to AATIX (5.05%). In terms of maximum drawdown, FSOPX dropped -61.75% vs AATIX's -43.17%.

Which has better risk-adjusted returns?

FSOPX currently has the higher Sharpe Ratio (2.42 vs 0.84), 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.