FSOPX vs. ASQIX

Last updated Jun 4, 2026

FSOPX (Fidelity Series Small Cap Opportunities Fund) and ASQIX (American Century Small Company Fund) are both Small Cap Blend Equities funds. Over the past 10 years, FSOPX returned 12.77%/yr vs 9.67%/yr for ASQIX. With a 0.97 correlation, they move nearly in lockstep. FSOPX charges 0.00%/yr vs 0.85%/yr for ASQIX.

Performance

FSOPX vs. ASQIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Series Small Cap Opportunities Fund (FSOPX) and American Century Small Company Fund (ASQIX). 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 lower than ASQIX's 20.09% return. Over the past 10 years, FSOPX has outperformed ASQIX with an annualized return of 12.77%, while ASQIX has yielded a comparatively lower 9.67% 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%

ASQIX

• 1D: 0.76%
• 1M: 5.38%
• YTD: 20.09%
• 6M: 20.98%
• 1Y: 39.89%
• 3Y*: 17.99%
• 5Y*: 6.75%
• 10Y*: 9.67%

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

FSOPX vs. ASQIX - 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%
ASQIX American Century Small Company Fund	20.09%	12.93%	4.44%	21.29%	-21.34%	21.65%	16.42%	19.71%	-14.39%	10.58%

Correlation

The correlation between FSOPX and ASQIX is 0.93, 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	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (10Y) Calculated over the trailing 10-year period	0.97
Correlation (All Time) Calculated using the full available price history since Mar 26, 2007	0.97

The correlation between FSOPX and ASQIX has been stable across timeframes, ranging from 0.93 to 0.97 - a consistent structural relationship.

Return for Risk

FSOPX vs. ASQIX — 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

ASQIX

ASQIX Risk / Return Rank: 67
ASQIX Sharpe Ratio Rank: 60
ASQIX Sortino Ratio Rank: 58
ASQIX Omega Ratio Rank: 49
ASQIX Calmar Ratio Rank: 90
ASQIX Martin Ratio Rank: 80

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. ASQIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Series Small Cap Opportunities Fund (FSOPX) and American Century Small Company Fund (ASQIX). 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	ASQIX	Difference
Sharpe ratio: Return per unit of total volatility	2.42	2.27	+0.15
Sortino ratio: Return per unit of downside risk	3.41	3.21	+0.20
Omega ratio: Gain probability vs. loss probability	1.41	1.38	+0.03
Calmar ratio: Return relative to maximum drawdown	4.35	4.69	-0.34
Martin ratio: Return relative to average drawdown	17.03	14.99	+2.04
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. ASQIX - Sharpe Ratio Comparison

The current FSOPX Sharpe Ratio is 2.42, which is comparable to the ASQIX Sharpe Ratio of 2.27. The chart below compares the historical Sharpe Ratios of FSOPX and ASQIX, 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	ASQIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.42	2.27	+0.15
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.51	0.32	+0.19
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	0.38	+0.01

Drawdowns

FSOPX vs. ASQIX - Drawdown Comparison

The maximum FSOPX drawdown since its inception was -61.75%, roughly equal to the maximum ASQIX drawdown of -63.58%. Use the drawdown chart below to compare losses from any high point for FSOPX and ASQIX.

Drawdown Indicators

	FSOPX	ASQIX	Difference
Max Drawdown Largest peak-to-trough decline	-61.75%	-63.58%	+1.83%
Max Drawdown (1Y) Largest decline over 1 year	-9.99%	-8.94%	-1.05%
Max Drawdown (3Y) Largest decline over 3 years	-27.17%	-25.78%	-1.39%
Max Drawdown (5Y) Largest decline over 5 years	-30.06%	-31.29%	+1.23%
Max Drawdown (10Y) Largest decline over 10 years	-39.15%	-45.59%	+6.44%
Current Drawdown Current decline from peak	-1.66%	0.00%	-1.66%
Average Drawdown Average peak-to-trough decline	-10.37%	-11.68%	+1.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.54%	2.79%	-0.25%

Volatility

FSOPX vs. ASQIX - Volatility Comparison

Fidelity Series Small Cap Opportunities Fund (FSOPX) and American Century Small Company Fund (ASQIX) have volatilities of 5.26% and 5.32%, 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	ASQIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.26%	5.32%	-0.06%
Volatility (6M) Calculated over the trailing 6-month period	13.46%	13.14%	+0.32%
Volatility (1Y) Calculated over the trailing 1-year period	17.92%	18.44%	-0.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.70%	21.43%	+0.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.99%	22.53%	-0.54%

FSOPX vs. ASQIX - Expense Ratio Comparison

FSOPX has a 0.00% expense ratio, which is lower than ASQIX's 0.85% expense ratio.

Dividends

FSOPX vs. ASQIX - Dividend Comparison

FSOPX's dividend yield for the trailing twelve months is around 3.78%, more than ASQIX's 2.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ASQIX American Century Small Company Fund	2.07%	2.57%	0.30%	0.49%	0.55%	18.62%	0.51%	0.34%	13.12%	5.19%	0.37%	0.31%
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 ASQIX in my portfolio?

With a correlation of 0.93, FSOPX and ASQIX 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, FSOPX or ASQIX?

ASQIX has higher volatility (5.32%) compared to FSOPX (5.26%). In terms of maximum drawdown, FSOPX dropped -61.75% vs ASQIX's -63.58%.

Which has better risk-adjusted returns?

FSOPX currently has the higher Sharpe Ratio (2.42 vs 2.27), 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.