TOWFX vs. FDETX

Last updated Aug 1, 2026

TOWFX (Towpath Focus Fund) and FDETX (Fidelity Advisor Capital Development Fund Class O) are both Large Cap Value Equities funds. Over the past 5 years, TOWFX returned 12.82%/yr vs 16.56%/yr for FDETX. Their correlation of 0.85 means they have usually moved in the same direction. TOWFX charges 1.11%/yr vs 0.56%/yr for FDETX.

Performance

TOWFX vs. FDETX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Towpath Focus Fund (TOWFX) and Fidelity Advisor Capital Development Fund Class O (FDETX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TOWFX achieves a 13.66% return, which is significantly higher than FDETX's 10.79% return.

TOWFX

• 1D: -0.32%
• 1M: 3.49%
• 6M: 10.02%
• YTD: 13.66%
• 1Y: 28.88%
• 3Y*: 18.70%
• 5Y*: 12.82%
• 10Y*: —
• ALL TIME*: 15.92%

FDETX

• 1D: 1.83%
• 1M: -0.03%
• 6M: 7.37%
• YTD: 10.79%
• 1Y: 23.78%
• 3Y*: 23.22%
• 5Y*: 16.56%
• 10Y*: 15.67%
• ALL TIME*: 15.32%

*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)
FDETX Fidelity Advisor Capital Development Fund Class O	$0.00	$0.00	$0.00
TOWFX Towpath Focus Fund	$0.00	$0.00	$0.00

TOWFX vs. FDETX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
TOWFX Towpath Focus Fund	13.66%	23.51%	13.22%	12.33%	-2.06%	26.52%	19.46%	0.00%
FDETX Fidelity Advisor Capital Development Fund Class O	10.79%	27.60%	27.07%	24.20%	-8.00%	25.32%	9.12%	0.31%

Correlation

The correlation between TOWFX and FDETX is 0.61, 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.	0.61
Correlation (3Y) Balances recent behavior with more history.	0.70
Correlation (5Y) Shows whether the relationship held over a longer period.	0.82
Correlation (All Time) Calculated using the full available price history since Dec 31, 2019	0.85

Over the past year, the correlation between TOWFX and FDETX has dropped to 0.61 - well below their long-term average of 0.85, suggesting their price drivers have been diverging.

Return for Risk

TOWFX vs. FDETX — Risk / Return Rank

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

TOWFX

TOWFX Risk / Return Rank: 96
TOWFX Sharpe Ratio Rank: 97
TOWFX Sortino Ratio Rank: 97
TOWFX Omega Ratio Rank: 92
TOWFX Calmar Ratio Rank: 98
TOWFX Martin Ratio Rank: 98

FDETX

FDETX Risk / Return Rank: 72
FDETX Sharpe Ratio Rank: 71
FDETX Sortino Ratio Rank: 70
FDETX Omega Ratio Rank: 68
FDETX Calmar Ratio Rank: 70
FDETX Martin Ratio Rank: 82

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.

TOWFX vs. FDETX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Towpath Focus Fund (TOWFX) and Fidelity Advisor Capital Development Fund Class O (FDETX). 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.

	TOWFX	FDETX	Difference
Sharpe ratio: Return per unit of total volatility	2.90	1.64	+1.26
Sortino ratio: Return per unit of downside risk	4.35	2.32	+2.03
Omega ratio: Gain probability vs. loss probability	1.52	1.29	+0.23
Calmar ratio: Return relative to maximum drawdown	5.80	2.24	+3.57
Martin ratio: Return relative to average drawdown	21.97	9.93	+12.03

TOWFX vs. FDETX - Sharpe Ratio Comparison

The current TOWFX Sharpe Ratio is 2.90, which is higher than the FDETX Sharpe Ratio of 1.64. The chart below compares the historical Sharpe Ratios of TOWFX and FDETX, 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

TOWFX vs. FDETX - Drawdown Comparison

The maximum TOWFX drawdown since its inception was -96.18%, which is greater than FDETX's maximum drawdown of -66.86%. Use the drawdown chart below to compare losses from any high point for TOWFX and FDETX.

Drawdown Indicators

	TOWFX	FDETX	Difference
Max Drawdown Largest peak-to-trough decline	-96.18%	-66.86%	-29.32%
Max Drawdown (1Y) Largest decline over 1 year	-4.72%	-9.64%	+4.92%
Max Drawdown (3Y) Largest decline over 3 years	-96.18%	-19.76%	-76.42%
Max Drawdown (5Y) Largest decline over 5 years	-96.18%	-21.72%	-74.46%
Max Drawdown (10Y) Largest decline over 10 years	—	-36.61%	—
Current Drawdown Current decline from peak	-94.38%	-1.10%	-93.28%
Average Drawdown Average peak-to-trough decline	-24.74%	-11.18%	-13.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.25%	2.17%	-0.92%

Volatility

TOWFX vs. FDETX - Volatility Comparison

The current volatility for Towpath Focus Fund (TOWFX) is 3.24%, while Fidelity Advisor Capital Development Fund Class O (FDETX) has a volatility of 3.43%. This indicates that TOWFX experiences smaller price fluctuations and is considered to be less risky than FDETX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TOWFX	FDETX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.24%	3.43%	-0.19%
Volatility (6M) Calculated over the trailing 6-month period	7.28%	10.15%	-2.87%
Volatility (1Y) Calculated over the trailing 1-year period	9.45%	13.12%	-3.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1,041.96%	17.58%	+1,024.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	908.81%	18.75%	+890.06%

TOWFX vs. FDETX - Expense Ratio Comparison

TOWFX has a 1.11% expense ratio, which is higher than FDETX's 0.56% expense ratio.

Dividends

TOWFX vs. FDETX - Dividend Comparison

TOWFX's dividend yield for the trailing twelve months is around 1.60%, less than FDETX's 9.33% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDETX Fidelity Advisor Capital Development Fund Class O	9.33%	10.34%	8.95%	4.39%	5.66%	5.63%	4.47%	7.46%	15.81%	5.34%	2.92%	5.97%
TOWFX Towpath Focus Fund	1.60%	1.82%	1.49%	2.81%	2.05%	5.69%	5.94%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TOWFX and FDETX in my portfolio?

TOWFX and FDETX have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TOWFX or FDETX?

FDETX has higher volatility (3.43%) compared to TOWFX (3.24%). In terms of maximum drawdown, TOWFX dropped -96.18% vs FDETX's -66.86%.

Which has better risk-adjusted returns?

TOWFX currently has the higher Sharpe Ratio (2.90 vs 1.64), 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.