THCGX vs. FOCPX

Last updated Aug 4, 2026

THCGX (Thornburg Small/Mid Cap Growth Fund) and FOCPX (Fidelity OTC Portfolio) are both Large Cap Growth Equities funds. Over the past 10 years, THCGX returned 8.52%/yr vs 21.22%/yr for FOCPX. Their correlation of 0.88 means they have usually moved in the same direction. THCGX charges 1.31%/yr vs 0.73%/yr for FOCPX.

Performance

THCGX vs. FOCPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Thornburg Small/Mid Cap Growth Fund (THCGX) and Fidelity OTC Portfolio (FOCPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, THCGX achieves a 8.97% return, which is significantly lower than FOCPX's 19.65% return. Over the past 10 years, THCGX has underperformed FOCPX with an annualized return of 8.52%, while FOCPX has yielded a comparatively higher 21.22% annualized return.

THCGX

• 1D: 0.63%
• 1M: -2.00%
• 6M: 10.09%
• YTD: 8.97%
• 1Y: 18.63%
• 3Y*: 10.91%
• 5Y*: -0.32%
• 10Y*: 8.52%
• ALL TIME*: 7.10%

FOCPX

• 1D: 1.25%
• 1M: -4.03%
• 6M: 16.48%
• YTD: 19.65%
• 1Y: 37.82%
• 3Y*: 29.20%
• 5Y*: 15.83%
• 10Y*: 21.22%
• ALL TIME*: 14.82%

*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)
FOCPX Fidelity OTC Portfolio	$0.00	$0.00	$0.00
THCGX Thornburg Small/Mid Cap Growth Fund	$0.00	$0.00	$0.00

THCGX vs. FOCPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
THCGX Thornburg Small/Mid Cap Growth Fund	8.97%	4.31%	19.67%	19.56%	-34.19%	-4.97%	41.70%	28.95%	-2.56%	23.91%
FOCPX Fidelity OTC Portfolio	19.65%	22.21%	38.95%	42.64%	-32.08%	24.94%	46.75%	39.20%	-3.30%	38.61%

Correlation

The correlation between THCGX and FOCPX is 0.73, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.73
Correlation (3Y) Balances recent behavior with more history.	0.73
Correlation (5Y) Shows whether the relationship held over a longer period.	0.79
Correlation (10Y) Provides a long-term view across more market conditions.	0.83
Correlation (All Time) Calculated using the full available price history since Jan 2, 2001	0.88

The correlation between THCGX and FOCPX shifts across timeframes, from 0.73 (3 years) to 0.88 (all time), reflecting how their relationship changes across market environments.

Return for Risk

THCGX vs. FOCPX — Risk / Return Rank

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

THCGX

THCGX Risk / Return Rank: 20
THCGX Sharpe Ratio Rank: 19
THCGX Sortino Ratio Rank: 20
THCGX Omega Ratio Rank: 19
THCGX Calmar Ratio Rank: 20
THCGX Martin Ratio Rank: 21

FOCPX

FOCPX Risk / Return Rank: 72
FOCPX Sharpe Ratio Rank: 69
FOCPX Sortino Ratio Rank: 62
FOCPX Omega Ratio Rank: 58
FOCPX Calmar Ratio Rank: 86
FOCPX Martin Ratio Rank: 83

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.

THCGX vs. FOCPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Thornburg Small/Mid Cap Growth Fund (THCGX) 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.

	THCGX	FOCPX	Difference
Sharpe ratio: Return per unit of total volatility	0.77	1.69	-0.92
Sortino ratio: Return per unit of downside risk	1.19	2.28	-1.09
Omega ratio: Gain probability vs. loss probability	1.14	1.29	-0.15
Calmar ratio: Return relative to maximum drawdown	1.02	3.12	-2.10
Martin ratio: Return relative to average drawdown	3.26	10.63	-7.37

THCGX vs. FOCPX - Sharpe Ratio Comparison

The current THCGX Sharpe Ratio is 0.77, which is lower than the FOCPX Sharpe Ratio of 1.69. The chart below compares the historical Sharpe Ratios of THCGX and FOCPX, 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

THCGX vs. FOCPX - Drawdown Comparison

The maximum THCGX drawdown since its inception was -63.67%, smaller than the maximum FOCPX drawdown of -70.25%. Use the drawdown chart below to compare losses from any high point for THCGX and FOCPX.

Drawdown Indicators

	THCGX	FOCPX	Difference
Max Drawdown Largest peak-to-trough decline	-63.67%	-70.25%	+6.58%
Max Drawdown (1Y) Largest decline over 1 year	-15.53%	-11.29%	-4.24%
Max Drawdown (3Y) Largest decline over 3 years	-30.25%	-24.82%	-5.43%
Max Drawdown (5Y) Largest decline over 5 years	-63.67%	-37.05%	-26.62%
Max Drawdown (10Y) Largest decline over 10 years	-63.67%	-37.05%	-26.62%
Current Drawdown Current decline from peak	-35.48%	-7.69%	-27.79%
Average Drawdown Average peak-to-trough decline	-21.31%	-16.96%	-4.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.86%	3.31%	+1.55%

Volatility

THCGX vs. FOCPX - Volatility Comparison

Thornburg Small/Mid Cap Growth Fund (THCGX) and Fidelity OTC Portfolio (FOCPX) have volatilities of 6.51% and 6.29%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	THCGX	FOCPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.51%	6.29%	+0.22%
Volatility (6M) Calculated over the trailing 6-month period	15.38%	17.28%	-1.90%
Volatility (1Y) Calculated over the trailing 1-year period	20.75%	20.92%	-0.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	37.03%	23.14%	+13.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.16%	22.59%	+7.57%

THCGX vs. FOCPX - Expense Ratio Comparison

THCGX has a 1.31% expense ratio, which is higher than FOCPX's 0.73% expense ratio.

Dividends

THCGX vs. FOCPX - Dividend Comparison

THCGX has not paid dividends to shareholders, while FOCPX's dividend yield for the trailing twelve months is around 6.50%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FOCPX Fidelity OTC Portfolio	6.50%	7.78%	16.76%	0.05%	4.06%	11.53%	6.23%	7.58%	7.93%	4.86%	3.24%	5.41%
THCGX Thornburg Small/Mid Cap Growth Fund	0.00%	0.00%	0.00%	0.00%	0.00%	54.25%	6.23%	9.32%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both THCGX and FOCPX in my portfolio?

THCGX and FOCPX have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, THCGX or FOCPX?

THCGX has higher volatility (6.51%) compared to FOCPX (6.29%). In terms of maximum drawdown, THCGX dropped -63.67% vs FOCPX's -70.25%.

Which has better risk-adjusted returns?

FOCPX currently has the higher Sharpe Ratio (1.69 vs 0.77), 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.