IYW vs. FOCPX
IYW (iShares U.S. Technology ETF) and FOCPX (Fidelity OTC Portfolio) are both funds - IYW is a Technology Equities fund tracking the Russell 1000 Technology RIC 22.5/45 Capped Index, while FOCPX is a Large Cap Growth Equities fund actively managed by Fidelity. IYW is passively managed, while FOCPX is actively managed. Over the past 10 years, IYW returned 25.63%/yr vs 22.49%/yr for FOCPX. Their correlation of 0.93 suggests significant overlap in exposure. IYW charges 0.38%/yr vs 0.73%/yr for FOCPX.
Performance
IYW vs. FOCPX - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with IYW having a 22.66% return and FOCPX slightly higher at 22.78%. Over the past 10 years, IYW has outperformed FOCPX with an annualized return of 25.63%, while FOCPX has yielded a comparatively lower 22.49% annualized return.
IYW
- 1D
- 0.61%
- 1M
- 1.73%
- YTD
- 22.66%
- 6M
- 23.40%
- 1Y
- 47.94%
- 3Y*
- 32.06%
- 5Y*
- 21.19%
- 10Y*
- 25.63%
FOCPX
- 1D
- 2.86%
- 1M
- -0.60%
- YTD
- 22.78%
- 6M
- 24.57%
- 1Y
- 51.96%
- 3Y*
- 32.72%
- 5Y*
- 17.85%
- 10Y*
- 22.49%
IYW vs. FOCPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IYW iShares U.S. Technology ETF | 22.66% | 25.38% | 30.25% | 65.44% | -34.83% | 35.44% | 47.45% | 46.64% | -0.93% | 36.60% |
FOCPX Fidelity OTC Portfolio | 22.78% | 22.21% | 38.95% | 42.64% | -32.08% | 24.94% | 46.75% | 39.20% | -3.30% | 38.61% |
Correlation
The correlation between IYW and FOCPX 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 | 0.95 |
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 May 19, 2000 | 0.93 |
The correlation between IYW and FOCPX has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.
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Return for Risk
IYW vs. FOCPX — Risk / Return Rank
IYW
FOCPX
IYW vs. FOCPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Technology ETF (IYW) and Fidelity OTC Portfolio (FOCPX). 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.
| IYW | FOCPX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.56 | ||
| Sortino ratioReturn per unit of downside risk | -0.64 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.47 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 2.70 | 4.68 | -1.97 |
| Martin ratioReturn relative to average drawdown | 8.68 | 19.87 | -11.19 |
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Drawdowns
IYW vs. FOCPX - Drawdown Comparison
The maximum IYW drawdown since its inception was -81.90%, which is greater than FOCPX's maximum drawdown of -70.25%. Use the drawdown chart below to compare losses from any high point for IYW and FOCPX.
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Drawdown Indicators
| IYW | FOCPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -81.90% | -70.25% | -11.65% |
Max Drawdown (1Y)Largest decline over 1 year | -17.81% | -11.29% | -6.52% |
Max Drawdown (3Y)Largest decline over 3 years | -26.47% | -24.82% | -1.65% |
Max Drawdown (5Y)Largest decline over 5 years | -39.44% | -37.05% | -2.39% |
Max Drawdown (10Y)Largest decline over 10 years | -39.44% | -37.05% | -2.39% |
Current DrawdownCurrent decline from peak | -5.81% | -4.42% | -1.39% |
Average DrawdownAverage peak-to-trough decline | -34.62% | -17.00% | -17.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.54% | 2.65% | +2.89% |
Volatility
IYW vs. FOCPX - Volatility Comparison
iShares U.S. Technology ETF (IYW) has a higher volatility of 9.41% compared to Fidelity OTC Portfolio (FOCPX) at 8.13%. This indicates that IYW's price experiences larger fluctuations and is considered to be riskier than FOCPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IYW | FOCPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.41% | 8.13% | +1.28% |
Volatility (6M)Calculated over the trailing 6-month period | 17.67% | 15.35% | +2.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.47% | 18.86% | +2.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.07% | 22.83% | +3.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.20% | 22.51% | +2.69% |
IYW vs. FOCPX - Expense Ratio Comparison
IYW has a 0.38% expense ratio, which is lower than FOCPX's 0.73% expense ratio.
Dividends
IYW vs. FOCPX - Dividend Comparison
IYW's dividend yield for the trailing twelve months is around 0.11%, less than FOCPX's 6.33% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FOCPX Fidelity OTC Portfolio | 6.33% | 7.78% | 16.76% | 0.05% | 4.06% | 11.53% | 6.23% | 7.58% | 7.93% | 4.86% | 3.24% | 5.41% |
IYW iShares U.S. Technology ETF | 0.11% | 0.14% | 0.21% | 0.34% | 0.50% | 0.31% | 0.56% | 0.72% | 0.92% | 0.82% | 1.14% | 1.12% |
Frequently Asked Questions
With a correlation of 0.93, IYW and FOCPX 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.
IYW has higher volatility (9.41%) compared to FOCPX (8.13%). In terms of maximum drawdown, IYW dropped -81.90% vs FOCPX's -70.25%.
FOCPX currently has the higher Sharpe Ratio (2.80 vs 2.24), 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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