FWMNX vs. FCNTX

Last updated Aug 1, 2026

FWMNX (Fidelity Advisor Women's Leadership Fund Class I) and FCNTX (Fidelity Contrafund) are both mutual funds - FWMNX is a Large Cap Blend Equities fund managed by Fidelity, while FCNTX is a Large Cap Growth Equities fund managed by Fidelity. Over the past 5 years, FWMNX returned 8.47%/yr vs 13.11%/yr for FCNTX. Their correlation of 0.88 means they have usually moved in the same direction. FWMNX charges 0.81%/yr vs 0.39%/yr for FCNTX.

Performance

FWMNX vs. FCNTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Women's Leadership Fund Class I (FWMNX) and Fidelity Contrafund (FCNTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FWMNX achieves a 12.87% return, which is significantly higher than FCNTX's 5.62% return.

FWMNX

• 1D: 2.10%
• 1M: -1.27%
• 6M: 11.00%
• YTD: 12.87%
• 1Y: 27.05%
• 3Y*: 16.16%
• 5Y*: 8.47%
• 10Y*: —
• ALL TIME*: 13.16%

FCNTX

• 1D: 0.95%
• 1M: -3.83%
• 6M: 3.61%
• YTD: 5.62%
• 1Y: 13.75%
• 3Y*: 22.98%
• 5Y*: 13.11%
• 10Y*: 16.85%
• ALL TIME*: 13.46%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FCNTX Fidelity Contrafund	$0.00	$0.00	$0.00
FWMNX Fidelity Advisor Women's Leadership Fund Class I	$0.00	$0.00	$0.00

FWMNX vs. FCNTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FWMNX Fidelity Advisor Women's Leadership Fund Class I	12.87%	19.13%	11.74%	21.18%	-19.76%	19.59%	25.28%	11.17%
FCNTX Fidelity Contrafund	5.62%	21.76%	36.00%	38.67%	-28.31%	24.52%	32.48%	12.06%

Correlation

The correlation between FWMNX and FCNTX is 0.85, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.85
Correlation (3Y) Balances recent behavior with more history.	0.83
Correlation (5Y) Shows whether the relationship held over a longer period.	0.89
Correlation (All Time) Calculated using the full available price history since May 21, 2019	0.88

The correlation between FWMNX and FCNTX has been stable across timeframes, ranging from 0.83 to 0.89 - a consistent structural relationship.

Return for Risk

FWMNX vs. FCNTX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FWMNX

FWMNX Risk / Return Rank: 71
FWMNX Sharpe Ratio Rank: 70
FWMNX Sortino Ratio Rank: 67
FWMNX Omega Ratio Rank: 65
FWMNX Calmar Ratio Rank: 70
FWMNX Martin Ratio Rank: 84

FCNTX

FCNTX Risk / Return Rank: 28
FCNTX Sharpe Ratio Rank: 27
FCNTX Sortino Ratio Rank: 26
FCNTX Omega Ratio Rank: 26
FCNTX Calmar Ratio Rank: 27
FCNTX Martin Ratio Rank: 33

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FWMNX vs. FCNTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Women's Leadership Fund Class I (FWMNX) and Fidelity Contrafund (FCNTX). 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.

	FWMNX	FCNTX	Difference
Sharpe ratio: Return per unit of total volatility	1.70	0.87	+0.82
Sortino ratio: Return per unit of downside risk	2.39	1.29	+1.10
Omega ratio: Gain probability vs. loss probability	1.30	1.16	+0.14
Calmar ratio: Return relative to maximum drawdown	2.37	1.19	+1.18
Martin ratio: Return relative to average drawdown	10.85	4.65	+6.21

FWMNX vs. FCNTX - Sharpe Ratio Comparison

The current FWMNX Sharpe Ratio is 1.70, which is higher than the FCNTX Sharpe Ratio of 0.87. The chart below compares the historical Sharpe Ratios of FWMNX and FCNTX, 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

FWMNX vs. FCNTX - Drawdown Comparison

The maximum FWMNX drawdown since its inception was -36.47%, smaller than the maximum FCNTX drawdown of -49.19%. Use the drawdown chart below to compare losses from any high point for FWMNX and FCNTX.

Drawdown Indicators

	FWMNX	FCNTX	Difference
Max Drawdown Largest peak-to-trough decline	-36.47%	-49.19%	+12.72%
Max Drawdown (1Y) Largest decline over 1 year	-10.30%	-11.30%	+1.00%
Max Drawdown (3Y) Largest decline over 3 years	-22.88%	-19.75%	-3.13%
Max Drawdown (5Y) Largest decline over 5 years	-29.96%	-32.59%	+2.63%
Max Drawdown (10Y) Largest decline over 10 years	—	-32.59%	—
Current Drawdown Current decline from peak	-2.77%	-5.29%	+2.52%
Average Drawdown Average peak-to-trough decline	-7.32%	-8.14%	+0.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.25%	2.89%	-0.64%

Volatility

FWMNX vs. FCNTX - Volatility Comparison

Fidelity Advisor Women's Leadership Fund Class I (FWMNX) and Fidelity Contrafund (FCNTX) have volatilities of 3.86% and 3.84%, 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

	FWMNX	FCNTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.86%	3.84%	+0.02%
Volatility (6M) Calculated over the trailing 6-month period	11.75%	12.26%	-0.51%
Volatility (1Y) Calculated over the trailing 1-year period	14.41%	15.46%	-1.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.94%	19.37%	-1.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.45%	19.73%	+0.72%

FWMNX vs. FCNTX - Expense Ratio Comparison

FWMNX has a 0.81% expense ratio, which is higher than FCNTX's 0.39% expense ratio.

Dividends

FWMNX vs. FCNTX - Dividend Comparison

FWMNX's dividend yield for the trailing twelve months is around 4.94%, more than FCNTX's 4.42% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FCNTX Fidelity Contrafund	4.42%	5.21%	4.19%	3.78%	11.87%	10.80%	8.01%	4.16%	7.46%	6.08%	3.81%	5.33%
FWMNX Fidelity Advisor Women's Leadership Fund Class I	4.94%	5.73%	0.08%	0.66%	0.70%	2.78%	0.26%	0.27%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FWMNX and FCNTX in my portfolio?

FWMNX and FCNTX have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FWMNX or FCNTX?

FWMNX has higher volatility (3.86%) compared to FCNTX (3.84%). In terms of maximum drawdown, FWMNX dropped -36.47% vs FCNTX's -49.19%.

Which has better risk-adjusted returns?

FWMNX currently has the higher Sharpe Ratio (1.70 vs 0.87), 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.