PSCI vs. FSLCX

Last updated Jun 23, 2026

PSCI (Invesco S&P SmallCap Industrials ETF) and FSLCX (Fidelity Small Cap Stock Fund) are both funds - PSCI is a Industrials Equities fund tracking the S&P SmallCap 600 Industrials Index, while FSLCX is a Small Cap Blend Equities fund managed by Fidelity. Over the past 10 years, PSCI returned 16.02%/yr vs 10.72%/yr for FSLCX. Their correlation of 0.86 suggests significant overlap in exposure. PSCI charges 0.29%/yr vs 0.90%/yr for FSLCX.

Performance

PSCI vs. FSLCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P SmallCap Industrials ETF (PSCI) and Fidelity Small Cap Stock Fund (FSLCX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with PSCI having a 20.86% return and FSLCX slightly higher at 21.53%. Over the past 10 years, PSCI has outperformed FSLCX with an annualized return of 16.02%, while FSLCX has yielded a comparatively lower 10.72% annualized return.

PSCI

• 1D: 0.55%
• 1M: 7.77%
• YTD: 20.86%
• 6M: 17.66%
• 1Y: 45.26%
• 3Y*: 23.19%
• 5Y*: 15.51%
• 10Y*: 16.02%

FSLCX

• 1D: 2.58%
• 1M: 6.82%
• YTD: 21.53%
• 6M: 18.82%
• 1Y: 40.35%
• 3Y*: 19.78%
• 5Y*: 8.50%
• 10Y*: 10.72%

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

PSCI vs. FSLCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PSCI Invesco S&P SmallCap Industrials ETF	20.86%	13.50%	16.68%	31.64%	-9.02%	24.44%	12.02%	29.80%	-13.20%	17.52%
FSLCX Fidelity Small Cap Stock Fund	21.53%	14.95%	9.27%	19.70%	-22.71%	20.26%	13.80%	29.46%	-11.70%	13.78%

Correlation

The correlation between PSCI and FSLCX is 0.88, 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	0.88
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (10Y) Calculated over the trailing 10-year period	0.86
Correlation (All Time) Calculated using the full available price history since Apr 7, 2010	0.86

The correlation between PSCI and FSLCX has been stable across timeframes, ranging from 0.86 to 0.90 - a consistent structural relationship.

Return for Risk

PSCI vs. FSLCX — Risk / Return Rank

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

PSCI

PSCI Risk / Return Rank: 64
PSCI Sharpe Ratio Rank: 68
PSCI Sortino Ratio Rank: 69
PSCI Omega Ratio Rank: 60
PSCI Calmar Ratio Rank: 63
PSCI Martin Ratio Rank: 60

FSLCX

FSLCX Risk / Return Rank: 61
FSLCX Sharpe Ratio Rank: 59
FSLCX Sortino Ratio Rank: 61
FSLCX Omega Ratio Rank: 50
FSLCX Calmar Ratio Rank: 74
FSLCX Martin Ratio Rank: 60

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.

PSCI vs. FSLCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P SmallCap Industrials ETF (PSCI) and Fidelity Small Cap Stock Fund (FSLCX). 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.

	PSCI	FSLCX	Difference
Sharpe ratio: Return per unit of total volatility	2.13	2.08	+0.05
Sortino ratio: Return per unit of downside risk	3.03	2.97	+0.06
Omega ratio: Gain probability vs. loss probability	1.36	1.35	0.00
Calmar ratio: Return relative to maximum drawdown	3.06	3.21	-0.15
Martin ratio: Return relative to average drawdown	10.40	11.28	-0.89

PSCI vs. FSLCX - Sharpe Ratio Comparison

The current PSCI Sharpe Ratio is 2.13, which is comparable to the FSLCX Sharpe Ratio of 2.08. The chart below compares the historical Sharpe Ratios of PSCI and FSLCX, 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

PSCI vs. FSLCX - Drawdown Comparison

The maximum PSCI drawdown since its inception was -45.55%, smaller than the maximum FSLCX drawdown of -61.22%. Use the drawdown chart below to compare losses from any high point for PSCI and FSLCX.

Drawdown Indicators

	PSCI	FSLCX	Difference
Max Drawdown Largest peak-to-trough decline	-45.55%	-61.22%	+15.67%
Max Drawdown (1Y) Largest decline over 1 year	-14.88%	-12.51%	-2.37%
Max Drawdown (3Y) Largest decline over 3 years	-29.36%	-22.01%	-7.35%
Max Drawdown (5Y) Largest decline over 5 years	-29.36%	-30.04%	+0.68%
Max Drawdown (10Y) Largest decline over 10 years	-45.55%	-45.42%	-0.13%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-6.89%	-9.81%	+2.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.37%	3.55%	+0.82%

Volatility

PSCI vs. FSLCX - Volatility Comparison

The current volatility for Invesco S&P SmallCap Industrials ETF (PSCI) is 5.39%, while Fidelity Small Cap Stock Fund (FSLCX) has a volatility of 7.45%. This indicates that PSCI experiences smaller price fluctuations and is considered to be less risky than FSLCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PSCI	FSLCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.39%	7.45%	-2.06%
Volatility (6M) Calculated over the trailing 6-month period	15.69%	14.95%	+0.74%
Volatility (1Y) Calculated over the trailing 1-year period	21.40%	19.27%	+2.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.99%	21.15%	+1.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.29%	21.31%	+3.98%

PSCI vs. FSLCX - Expense Ratio Comparison

PSCI has a 0.29% expense ratio, which is lower than FSLCX's 0.90% expense ratio.

Dividends

PSCI vs. FSLCX - Dividend Comparison

PSCI's dividend yield for the trailing twelve months is around 1.42%, less than FSLCX's 13.25% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSLCX Fidelity Small Cap Stock Fund	13.25%	14.91%	1.86%	0.02%	7.91%	22.97%	0.00%	0.31%	26.25%	8.92%	3.85%	10.97%
PSCI Invesco S&P SmallCap Industrials ETF	1.31%	1.56%	0.65%	0.72%	0.87%	0.69%	0.59%	0.64%	0.67%	0.71%	0.74%	1.02%

Frequently Asked Questions

Can I hold both PSCI and FSLCX in my portfolio?

PSCI and FSLCX have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PSCI or FSLCX?

FSLCX has higher volatility (7.45%) compared to PSCI (5.39%). In terms of maximum drawdown, PSCI dropped -45.55% vs FSLCX's -61.22%.

Which has better risk-adjusted returns?

PSCI currently has the higher Sharpe Ratio (2.13 vs 2.08), 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.