GRPM vs. FAGIX

Last updated Jun 9, 2026

GRPM (Invesco S&P MidCap 400® GARP ETF) and FAGIX (Fidelity Capital & Income Fund) are both funds - GRPM is a Mid Cap Blend Equities fund tracking the S&P MidCap 400® GARP Index, while FAGIX is a High Yield Bonds fund actively managed by Fidelity. GRPM is passively managed, while FAGIX is actively managed. Over the past 10 years, GRPM returned 10.98%/yr vs 7.88%/yr for FAGIX. A 0.72 correlation means they provide meaningful diversification when combined. GRPM charges 0.35%/yr vs 0.67%/yr for FAGIX.

Performance

GRPM vs. FAGIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P MidCap 400® GARP ETF (GRPM) and Fidelity Capital & Income Fund (FAGIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with GRPM having a 7.01% return and FAGIX slightly lower at 6.93%. Over the past 10 years, GRPM has outperformed FAGIX with an annualized return of 10.98%, while FAGIX has yielded a comparatively lower 7.88% annualized return.

GRPM

• 1D: 0.52%
• 1M: 1.82%
• YTD: 7.01%
• 6M: 6.96%
• 1Y: 21.75%
• 3Y*: 14.21%
• 5Y*: 7.56%
• 10Y*: 10.98%

FAGIX

• 1D: -1.47%
• 1M: 0.16%
• YTD: 6.93%
• 6M: 7.48%
• 1Y: 16.45%
• 3Y*: 12.79%
• 5Y*: 6.79%
• 10Y*: 7.88%

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

GRPM vs. FAGIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GRPM Invesco S&P MidCap 400® GARP ETF	7.01%	7.81%	15.67%	18.79%	-11.63%	26.35%	15.60%	23.05%	-12.45%	13.05%
FAGIX Fidelity Capital & Income Fund	6.93%	12.38%	10.69%	13.02%	-11.50%	11.13%	9.95%	18.96%	-7.17%	11.66%

Correlation

The correlation between GRPM and FAGIX is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.62
Correlation (3Y) Calculated over the trailing 3-year period	0.70
Correlation (5Y) Calculated over the trailing 5-year period	0.73
Correlation (10Y) Calculated over the trailing 10-year period	0.72
Correlation (All Time) Calculated using the full available price history since Dec 9, 2010	0.72

The correlation between GRPM and FAGIX shifts across timeframes, from 0.62 (1 year) to 0.73 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

GRPM vs. FAGIX — Risk / Return Rank

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

GRPM

GRPM Risk / Return Rank: 49
GRPM Sharpe Ratio Rank: 42
GRPM Sortino Ratio Rank: 45
GRPM Omega Ratio Rank: 40
GRPM Calmar Ratio Rank: 64
GRPM Martin Ratio Rank: 53

FAGIX

FAGIX Risk / Return Rank: 87
FAGIX Sharpe Ratio Rank: 84
FAGIX Sortino Ratio Rank: 82
FAGIX Omega Ratio Rank: 82
FAGIX Calmar Ratio Rank: 92
FAGIX Martin Ratio Rank: 94

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.

GRPM vs. FAGIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P MidCap 400® GARP ETF (GRPM) and Fidelity Capital & Income Fund (FAGIX). 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.

	GRPM	FAGIX	Difference
Sharpe ratio: Return per unit of total volatility	1.36	2.68	-1.32
Sortino ratio: Return per unit of downside risk	2.01	3.80	-1.79
Omega ratio: Gain probability vs. loss probability	1.24	1.53	-0.29
Calmar ratio: Return relative to maximum drawdown	2.87	4.80	-1.93
Martin ratio: Return relative to average drawdown	8.47	20.14	-11.67
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GRPM vs. FAGIX - Sharpe Ratio Comparison

The current GRPM Sharpe Ratio is 1.36, which is lower than the FAGIX Sharpe Ratio of 2.68. The chart below compares the historical Sharpe Ratios of GRPM and FAGIX, 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

	GRPM	FAGIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.36	2.68	-1.32
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.36	1.03	-0.67
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.50	1.01	-0.51
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	0.87	-0.33

Drawdowns

GRPM vs. FAGIX - Drawdown Comparison

The maximum GRPM drawdown since its inception was -43.12%, which is greater than FAGIX's maximum drawdown of -37.97%. Use the drawdown chart below to compare losses from any high point for GRPM and FAGIX.

Drawdown Indicators

	GRPM	FAGIX	Difference
Max Drawdown Largest peak-to-trough decline	-43.12%	-37.97%	-5.15%
Max Drawdown (1Y) Largest decline over 1 year	-7.62%	-3.49%	-4.13%
Max Drawdown (3Y) Largest decline over 3 years	-28.09%	-7.26%	-20.83%
Max Drawdown (5Y) Largest decline over 5 years	-28.09%	-15.42%	-12.67%
Max Drawdown (10Y) Largest decline over 10 years	-43.12%	-28.45%	-14.67%
Current Drawdown Current decline from peak	-1.17%	-1.47%	+0.30%
Average Drawdown Average peak-to-trough decline	-5.71%	-6.98%	+1.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.57%	0.83%	+1.74%

Volatility

GRPM vs. FAGIX - Volatility Comparison

Invesco S&P MidCap 400® GARP ETF (GRPM) has a higher volatility of 3.79% compared to Fidelity Capital & Income Fund (FAGIX) at 2.35%. This indicates that GRPM's price experiences larger fluctuations and is considered to be riskier than FAGIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GRPM	FAGIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.79%	2.35%	+1.44%
Volatility (6M) Calculated over the trailing 6-month period	10.52%	5.09%	+5.43%
Volatility (1Y) Calculated over the trailing 1-year period	16.10%	6.25%	+9.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.91%	6.62%	+14.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.26%	7.83%	+14.43%

GRPM vs. FAGIX - Expense Ratio Comparison

GRPM has a 0.35% expense ratio, which is lower than FAGIX's 0.67% expense ratio.

Dividends

GRPM vs. FAGIX - Dividend Comparison

GRPM's dividend yield for the trailing twelve months is around 0.96%, less than FAGIX's 4.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FAGIX Fidelity Capital & Income Fund	4.49%	4.74%	5.02%	5.28%	10.25%	6.08%	4.59%	5.00%	5.67%	5.05%	4.57%	4.51%
GRPM Invesco S&P MidCap 400® GARP ETF	0.96%	1.19%	0.95%	0.96%	1.28%	0.92%	1.16%	1.25%	1.50%	1.14%	1.00%	1.43%

Frequently Asked Questions

Can I hold both GRPM and FAGIX in my portfolio?

GRPM and FAGIX have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GRPM or FAGIX?

GRPM has higher volatility (3.79%) compared to FAGIX (2.35%). In terms of maximum drawdown, GRPM dropped -43.12% vs FAGIX's -37.97%.

Which has better risk-adjusted returns?

FAGIX currently has the higher Sharpe Ratio (2.68 vs 1.36), 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.