IVCSX vs. FSOPX

Last updated Aug 1, 2026

IVCSX (Voya Small Company Portfolio) and FSOPX (Fidelity Series Small Cap Opportunities Fund) are both Small Cap Blend Equities funds. Over the past 10 years, IVCSX returned 8.93%/yr vs 12.83%/yr for FSOPX. Their 0.96 correlation means they have historically moved very closely together. IVCSX charges 0.90%/yr vs 0.00%/yr for FSOPX.

Performance

IVCSX vs. FSOPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Voya Small Company Portfolio (IVCSX) and Fidelity Series Small Cap Opportunities Fund (FSOPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IVCSX achieves a 16.14% return, which is significantly lower than FSOPX's 21.27% return. Over the past 10 years, IVCSX has underperformed FSOPX with an annualized return of 8.93%, while FSOPX has yielded a comparatively higher 12.83% annualized return.

IVCSX

• 1D: 0.76%
• 1M: -0.87%
• 6M: 12.62%
• YTD: 16.14%
• 1Y: 27.04%
• 3Y*: 12.87%
• 5Y*: 7.06%
• 10Y*: 8.93%
• ALL TIME*: 9.29%

FSOPX

• 1D: 1.81%
• 1M: -0.30%
• 6M: 14.63%
• YTD: 21.27%
• 1Y: 39.87%
• 3Y*: 19.09%
• 5Y*: 11.88%
• 10Y*: 12.83%
• ALL TIME*: 9.29%

*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)
FSOPX Fidelity Series Small Cap Opportunities Fund	$0.00	$0.00	$0.00
IVCSX Voya Small Company Portfolio	$0.00	$0.00	$0.00

IVCSX vs. FSOPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IVCSX Voya Small Company Portfolio	16.14%	8.94%	10.56%	18.00%	-16.42%	14.74%	12.14%	25.57%	-15.83%	11.37%
FSOPX Fidelity Series Small Cap Opportunities Fund	21.27%	15.81%	15.31%	20.38%	-17.82%	23.39%	17.03%	29.92%	-8.12%	11.10%

Correlation

The correlation between IVCSX and FSOPX is 0.81, 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.	0.81
Correlation (3Y) Balances recent behavior with more history.	0.88
Correlation (5Y) Shows whether the relationship held over a longer period.	0.91
Correlation (10Y) Provides a long-term view across more market conditions.	0.94
Correlation (All Time) Calculated using the full available price history since Mar 23, 2007	0.96

The correlation between IVCSX and FSOPX shifts across timeframes, from 0.81 (1 year) to 0.96 (all time), reflecting how their relationship changes across market environments.

Return for Risk

IVCSX vs. FSOPX — Risk / Return Rank

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

IVCSX

IVCSX Risk / Return Rank: 58
IVCSX Sharpe Ratio Rank: 59
IVCSX Sortino Ratio Rank: 61
IVCSX Omega Ratio Rank: 51
IVCSX Calmar Ratio Rank: 64
IVCSX Martin Ratio Rank: 56

FSOPX

FSOPX Risk / Return Rank: 85
FSOPX Sharpe Ratio Rank: 82
FSOPX Sortino Ratio Rank: 81
FSOPX Omega Ratio Rank: 75
FSOPX Calmar Ratio Rank: 92
FSOPX Martin Ratio Rank: 93

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.

IVCSX vs. FSOPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Voya Small Company Portfolio (IVCSX) and Fidelity Series Small Cap Opportunities Fund (FSOPX). 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.

	IVCSX	FSOPX	Difference
Sharpe ratio: Return per unit of total volatility	1.56	1.95	-0.39
Sortino ratio: Return per unit of downside risk	2.26	2.82	-0.56
Omega ratio: Gain probability vs. loss probability	1.27	1.33	-0.07
Calmar ratio: Return relative to maximum drawdown	2.25	3.64	-1.38
Martin ratio: Return relative to average drawdown	7.93	13.81	-5.89

IVCSX vs. FSOPX - Sharpe Ratio Comparison

The current IVCSX Sharpe Ratio is 1.56, which is comparable to the FSOPX Sharpe Ratio of 1.95. The chart below compares the historical Sharpe Ratios of IVCSX and FSOPX, 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

IVCSX vs. FSOPX - Drawdown Comparison

The maximum IVCSX drawdown since its inception was -54.59%, smaller than the maximum FSOPX drawdown of -61.75%. Use the drawdown chart below to compare losses from any high point for IVCSX and FSOPX.

Drawdown Indicators

	IVCSX	FSOPX	Difference
Max Drawdown Largest peak-to-trough decline	-54.59%	-61.75%	+7.16%
Max Drawdown (1Y) Largest decline over 1 year	-12.52%	-9.99%	-2.53%
Max Drawdown (3Y) Largest decline over 3 years	-24.45%	-27.17%	+2.72%
Max Drawdown (5Y) Largest decline over 5 years	-28.47%	-30.06%	+1.59%
Max Drawdown (10Y) Largest decline over 10 years	-43.15%	-39.15%	-4.00%
Current Drawdown Current decline from peak	-2.08%	-2.67%	+0.59%
Average Drawdown Average peak-to-trough decline	-11.31%	-10.30%	-1.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.46%	2.63%	+0.83%

Volatility

IVCSX vs. FSOPX - Volatility Comparison

The current volatility for Voya Small Company Portfolio (IVCSX) is 3.52%, while Fidelity Series Small Cap Opportunities Fund (FSOPX) has a volatility of 4.54%. This indicates that IVCSX experiences smaller price fluctuations and is considered to be less risky than FSOPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IVCSX	FSOPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.52%	4.54%	-1.02%
Volatility (6M) Calculated over the trailing 6-month period	13.50%	14.38%	-0.88%
Volatility (1Y) Calculated over the trailing 1-year period	18.10%	18.67%	-0.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.45%	21.74%	+0.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.13%	21.99%	+1.14%

IVCSX vs. FSOPX - Expense Ratio Comparison

IVCSX has a 0.90% expense ratio, which is higher than FSOPX's 0.00% expense ratio.

Dividends

IVCSX vs. FSOPX - Dividend Comparison

IVCSX's dividend yield for the trailing twelve months is around 6.38%, more than FSOPX's 3.64% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSOPX Fidelity Series Small Cap Opportunities Fund	3.64%	4.41%	9.41%	0.98%	5.16%	30.85%	2.01%	6.67%	13.99%	10.31%	0.69%	5.93%
IVCSX Voya Small Company Portfolio	6.38%	15.99%	3.68%	0.41%	37.13%	0.52%	1.91%	15.01%	21.50%	11.07%	9.01%	17.60%

Frequently Asked Questions

Can I hold both IVCSX and FSOPX in my portfolio?

IVCSX and FSOPX have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IVCSX or FSOPX?

FSOPX has higher volatility (4.54%) compared to IVCSX (3.52%). In terms of maximum drawdown, IVCSX dropped -54.59% vs FSOPX's -61.75%.

Which has better risk-adjusted returns?

FSOPX currently has the higher Sharpe Ratio (1.95 vs 1.56), 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.