FSOPX vs. VIOO
FSOPX (Fidelity Series Small Cap Opportunities Fund) and VIOO (Vanguard S&P Small-Cap 600 ETF) are both Small Cap Blend Equities funds. Over the past 10 years, FSOPX returned 13.57%/yr vs 11.43%/yr for VIOO. Their correlation of 0.93 suggests significant overlap in exposure. FSOPX charges 0.00%/yr vs 0.07%/yr for VIOO.
Performance
FSOPX vs. VIOO - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with FSOPX having a 20.65% return and VIOO slightly higher at 20.67%. Over the past 10 years, FSOPX has outperformed VIOO with an annualized return of 13.57%, while VIOO has yielded a comparatively lower 11.43% annualized return.
FSOPX
- 1D
- -1.36%
- 1M
- 3.82%
- YTD
- 20.65%
- 6M
- 17.68%
- 1Y
- 40.79%
- 3Y*
- 22.21%
- 5Y*
- 11.37%
- 10Y*
- 13.57%
VIOO
- 1D
- 1.13%
- 1M
- 5.41%
- YTD
- 20.67%
- 6M
- 17.67%
- 1Y
- 34.90%
- 3Y*
- 16.63%
- 5Y*
- 6.51%
- 10Y*
- 11.43%
FSOPX vs. VIOO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FSOPX Fidelity Series Small Cap Opportunities Fund | 20.65% | 15.81% | 15.31% | 20.38% | -17.82% | 23.39% | 17.03% | 29.92% | -8.12% | 11.10% |
VIOO Vanguard S&P Small-Cap 600 ETF | 20.67% | 6.04% | 8.48% | 16.16% | -16.26% | 26.79% | 11.47% | 22.68% | -8.65% | 13.16% |
Correlation
The correlation between FSOPX and VIOO is 0.92, 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 | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.95 |
Correlation (All Time) Calculated using the full available price history since Sep 9, 2010 | 0.93 |
The correlation between FSOPX and VIOO has been stable across timeframes, ranging from 0.92 to 0.96 - a consistent structural relationship.
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Return for Risk
FSOPX vs. VIOO — Risk / Return Rank
FSOPX
VIOO
FSOPX vs. VIOO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Series Small Cap Opportunities Fund (FSOPX) and Vanguard S&P Small-Cap 600 ETF (VIOO). 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.
| FSOPX | VIOO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.33 | ||
| Sortino ratioReturn per unit of downside risk | +0.38 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.34 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 4.29 | 4.00 | +0.29 |
| Martin ratioReturn relative to average drawdown | 16.62 | 13.50 | +3.12 |
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Drawdowns
FSOPX vs. VIOO - Drawdown Comparison
The maximum FSOPX drawdown since its inception was -61.75%, which is greater than VIOO's maximum drawdown of -44.15%. Use the drawdown chart below to compare losses from any high point for FSOPX and VIOO.
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Drawdown Indicators
| FSOPX | VIOO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.75% | -44.15% | -17.60% |
Max Drawdown (1Y)Largest decline over 1 year | -9.99% | -8.77% | -1.22% |
Max Drawdown (3Y)Largest decline over 3 years | -27.17% | -27.93% | +0.76% |
Max Drawdown (5Y)Largest decline over 5 years | -30.06% | -27.93% | -2.13% |
Max Drawdown (10Y)Largest decline over 10 years | -39.15% | -44.15% | +5.00% |
Current DrawdownCurrent decline from peak | -1.36% | 0.00% | -1.36% |
Average DrawdownAverage peak-to-trough decline | -10.35% | -7.31% | -3.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.57% | 2.59% | -0.02% |
Volatility
FSOPX vs. VIOO - Volatility Comparison
Fidelity Series Small Cap Opportunities Fund (FSOPX) has a higher volatility of 6.47% compared to Vanguard S&P Small-Cap 600 ETF (VIOO) at 5.01%. This indicates that FSOPX's price experiences larger fluctuations and is considered to be riskier than VIOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FSOPX | VIOO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.47% | 5.01% | +1.46% |
Volatility (6M)Calculated over the trailing 6-month period | 14.18% | 12.15% | +2.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.60% | 17.76% | +0.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.79% | 21.40% | +0.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.01% | 22.98% | -0.97% |
FSOPX vs. VIOO - Expense Ratio Comparison
FSOPX has a 0.00% expense ratio, which is lower than VIOO's 0.07% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
FSOPX vs. VIOO - Dividend Comparison
FSOPX's dividend yield for the trailing twelve months is around 3.66%, more than VIOO's 1.13% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSOPX Fidelity Series Small Cap Opportunities Fund | 3.66% | 4.41% | 9.41% | 0.98% | 5.16% | 30.85% | 2.01% | 6.67% | 13.99% | 10.31% | 0.69% | 5.93% |
VIOO Vanguard S&P Small-Cap 600 ETF | 1.13% | 1.36% | 1.48% | 1.47% | 1.51% | 1.16% | 1.09% | 1.37% | 1.32% | 1.11% | 1.06% | 1.26% |
Frequently Asked Questions
With a correlation of 0.92, FSOPX and VIOO 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.
FSOPX has higher volatility (6.47%) compared to VIOO (5.01%). In terms of maximum drawdown, FSOPX dropped -61.75% vs VIOO's -44.15%.
FSOPX currently has the higher Sharpe Ratio (2.31 vs 1.98), 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.
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