PRWCX vs. FGRIX

Last updated Jun 5, 2026

PRWCX (T. Rowe Price Capital Appreciation Fund) and FGRIX (Fidelity Growth & Income Portfolio) are both mutual funds - PRWCX is a Diversified Portfolio fund managed by T. Rowe Price, while FGRIX is a Large Cap Value Equities fund managed by Fidelity. Over the past 10 years, PRWCX returned 11.22%/yr vs 14.25%/yr for FGRIX. Their correlation of 0.83 suggests significant overlap in exposure. PRWCX charges 0.68%/yr vs 0.57%/yr for FGRIX.

Performance

PRWCX vs. FGRIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Capital Appreciation Fund (PRWCX) and Fidelity Growth & Income Portfolio (FGRIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PRWCX achieves a 5.48% return, which is significantly lower than FGRIX's 6.89% return. Over the past 10 years, PRWCX has underperformed FGRIX with an annualized return of 11.22%, while FGRIX has yielded a comparatively higher 14.25% annualized return.

PRWCX

• 1D: -0.26%
• 1M: 1.53%
• YTD: 5.48%
• 6M: 5.62%
• 1Y: 14.32%
• 3Y*: 13.38%
• 5Y*: 8.75%
• 10Y*: 11.22%

FGRIX

• 1D: -0.68%
• 1M: 1.07%
• YTD: 6.89%
• 6M: 8.28%
• 1Y: 22.61%
• 3Y*: 20.53%
• 5Y*: 13.29%
• 10Y*: 14.25%

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

PRWCX vs. FGRIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PRWCX T. Rowe Price Capital Appreciation Fund	5.48%	12.45%	12.50%	18.85%	-12.00%	18.45%	18.13%	24.62%	0.63%	15.34%
FGRIX Fidelity Growth & Income Portfolio	6.89%	21.59%	22.10%	18.63%	-4.98%	25.84%	7.98%	30.22%	-8.94%	16.88%

Correlation

The correlation between PRWCX and FGRIX is 0.76, 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	0.76
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (10Y) Calculated over the trailing 10-year period	0.83
Correlation (All Time) Calculated using the full available price history since Jan 5, 1987	0.83

The correlation between PRWCX and FGRIX has been stable across timeframes, ranging from 0.76 to 0.84 - a consistent structural relationship.

Return for Risk

PRWCX vs. FGRIX — Risk / Return Rank

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

PRWCX

PRWCX Risk / Return Rank: 44
PRWCX Sharpe Ratio Rank: 45
PRWCX Sortino Ratio Rank: 45
PRWCX Omega Ratio Rank: 46
PRWCX Calmar Ratio Rank: 37
PRWCX Martin Ratio Rank: 49

FGRIX

FGRIX Risk / Return Rank: 52
FGRIX Sharpe Ratio Rank: 51
FGRIX Sortino Ratio Rank: 50
FGRIX Omega Ratio Rank: 50
FGRIX Calmar Ratio Rank: 50
FGRIX Martin Ratio Rank: 56

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.

PRWCX vs. FGRIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Capital Appreciation Fund (PRWCX) and Fidelity Growth & Income Portfolio (FGRIX). 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.

	PRWCX	FGRIX	Difference
Sharpe ratio: Return per unit of total volatility	1.97	2.13	-0.15
Sortino ratio: Return per unit of downside risk	2.84	3.00	-0.16
Omega ratio: Gain probability vs. loss probability	1.37	1.39	-0.02
Calmar ratio: Return relative to maximum drawdown	2.33	2.72	-0.39
Martin ratio: Return relative to average drawdown	10.19	11.37	-1.18
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PRWCX vs. FGRIX - Sharpe Ratio Comparison

The current PRWCX Sharpe Ratio is 1.97, which is comparable to the FGRIX Sharpe Ratio of 2.13. The chart below compares the historical Sharpe Ratios of PRWCX and FGRIX, 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

	PRWCX	FGRIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.97	2.13	-0.15
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.69	0.86	-0.17
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.88	0.82	+0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.91	0.59	+0.32

Drawdowns

PRWCX vs. FGRIX - Drawdown Comparison

The maximum PRWCX drawdown since its inception was -41.77%, smaller than the maximum FGRIX drawdown of -67.10%. Use the drawdown chart below to compare losses from any high point for PRWCX and FGRIX.

Drawdown Indicators

	PRWCX	FGRIX	Difference
Max Drawdown Largest peak-to-trough decline	-41.77%	-67.10%	+25.33%
Max Drawdown (1Y) Largest decline over 1 year	-6.32%	-8.35%	+2.03%
Max Drawdown (3Y) Largest decline over 3 years	-15.96%	-16.42%	+0.46%
Max Drawdown (5Y) Largest decline over 5 years	-17.07%	-19.26%	+2.19%
Max Drawdown (10Y) Largest decline over 10 years	-26.86%	-35.63%	+8.77%
Current Drawdown Current decline from peak	-0.68%	-0.70%	+0.02%
Average Drawdown Average peak-to-trough decline	-3.33%	-10.12%	+6.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.44%	1.99%	-0.55%

Volatility

PRWCX vs. FGRIX - Volatility Comparison

The current volatility for T. Rowe Price Capital Appreciation Fund (PRWCX) is 1.95%, while Fidelity Growth & Income Portfolio (FGRIX) has a volatility of 2.33%. This indicates that PRWCX experiences smaller price fluctuations and is considered to be less risky than FGRIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PRWCX	FGRIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.95%	2.33%	-0.38%
Volatility (6M) Calculated over the trailing 6-month period	6.00%	7.97%	-1.97%
Volatility (1Y) Calculated over the trailing 1-year period	7.46%	10.66%	-3.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.74%	15.52%	-2.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.74%	17.45%	-4.71%

PRWCX vs. FGRIX - Expense Ratio Comparison

PRWCX has a 0.68% expense ratio, which is higher than FGRIX's 0.57% expense ratio.

Dividends

PRWCX vs. FGRIX - Dividend Comparison

PRWCX's dividend yield for the trailing twelve months is around 8.36%, less than FGRIX's 9.16% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FGRIX Fidelity Growth & Income Portfolio	9.16%	9.78%	6.80%	3.93%	3.43%	6.02%	3.61%	2.85%	3.39%	1.52%	1.80%	2.08%
PRWCX T. Rowe Price Capital Appreciation Fund	8.36%	8.81%	10.38%	4.15%	9.44%	9.23%	7.97%	5.83%	7.46%	6.82%	3.51%	9.86%

Frequently Asked Questions

Can I hold both PRWCX and FGRIX in my portfolio?

PRWCX and FGRIX have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PRWCX or FGRIX?

FGRIX has higher volatility (2.33%) compared to PRWCX (1.95%). In terms of maximum drawdown, PRWCX dropped -41.77% vs FGRIX's -67.10%.

Which has better risk-adjusted returns?

FGRIX currently has the higher Sharpe Ratio (2.13 vs 1.97), 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.