VENAX vs. FOCPX

Last updated Jul 14, 2026

VENAX (Vanguard Energy Index Fund Admiral Shares) and FOCPX (Fidelity OTC Portfolio) are both mutual funds - VENAX is a Energy Equities fund managed by Vanguard, while FOCPX is a Large Cap Growth Equities fund actively managed by Fidelity. Over the past 10 years, VENAX returned 8.48%/yr vs 22.26%/yr for FOCPX. At a 0.47 correlation, their price movements are largely independent. VENAX charges 0.10%/yr vs 0.73%/yr for FOCPX.

Performance

VENAX vs. FOCPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Energy Index Fund Admiral Shares (VENAX) and Fidelity OTC Portfolio (FOCPX). 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 VENAX having a 25.09% return and FOCPX slightly higher at 26.07%. Over the past 10 years, VENAX has underperformed FOCPX with an annualized return of 8.48%, while FOCPX has yielded a comparatively higher 22.26% annualized return.

VENAX

• 1D: 0.52%
• 1M: -3.56%
• 6M: 20.73%
• YTD: 25.09%
• 1Y: 27.93%
• 3Y*: 13.69%
• 5Y*: 19.92%
• 10Y*: 8.48%

FOCPX

• 1D: -0.26%
• 1M: 1.29%
• 6M: 23.83%
• YTD: 26.07%
• 1Y: 47.75%
• 3Y*: 33.17%
• 5Y*: 17.19%
• 10Y*: 22.26%

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

VENAX vs. FOCPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VENAX Vanguard Energy Index Fund Admiral Shares	25.09%	7.29%	6.57%	0.05%	62.94%	55.57%	-33.27%	9.36%	-19.90%	-2.39%
FOCPX Fidelity OTC Portfolio	26.07%	22.21%	38.95%	42.64%	-32.08%	24.94%	46.75%	39.20%	-3.30%	38.61%

Correlation

The correlation between VENAX and FOCPX is -0.16, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.16
Correlation (3Y) Calculated over the trailing 3-year period	0.04
Correlation (5Y) Calculated over the trailing 5-year period	0.18
Correlation (10Y) Calculated over the trailing 10-year period	0.29
Correlation (All Time) Calculated using the full available price history since Sep 29, 2004	0.47

The correlation between VENAX and FOCPX shifts across timeframes, from -0.16 (1 year) to 0.47 (all time), reflecting how their relationship changes across market environments.

Return for Risk

VENAX vs. FOCPX — Risk / Return Rank

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

VENAX

VENAX Risk / Return Rank: 35
VENAX Sharpe Ratio Rank: 39
VENAX Sortino Ratio Rank: 35
VENAX Omega Ratio Rank: 33
VENAX Calmar Ratio Rank: 40
VENAX Martin Ratio Rank: 30

FOCPX

FOCPX Risk / Return Rank: 88
FOCPX Sharpe Ratio Rank: 88
FOCPX Sortino Ratio Rank: 81
FOCPX Omega Ratio Rank: 80
FOCPX Calmar Ratio Rank: 94
FOCPX Martin Ratio Rank: 95

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.

VENAX vs. FOCPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Energy Index Fund Admiral Shares (VENAX) 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.

	VENAX	FOCPX	Difference
Sharpe ratio: Return per unit of total volatility	1.39	2.37	-0.98
Sortino ratio: Return per unit of downside risk	1.89	3.05	-1.16
Omega ratio: Gain probability vs. loss probability	1.23	1.40	-0.17
Calmar ratio: Return relative to maximum drawdown	1.91	4.23	-2.31
Martin ratio: Return relative to average drawdown	5.26	16.93	-11.67

VENAX vs. FOCPX - Sharpe Ratio Comparison

The current VENAX Sharpe Ratio is 1.39, which is lower than the FOCPX Sharpe Ratio of 2.37. The chart below compares the historical Sharpe Ratios of VENAX 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

VENAX vs. FOCPX - Drawdown Comparison

The maximum VENAX drawdown since its inception was -74.42%, which is greater than FOCPX's maximum drawdown of -70.25%. Use the drawdown chart below to compare losses from any high point for VENAX and FOCPX.

Drawdown Indicators

	VENAX	FOCPX	Difference
Max Drawdown Largest peak-to-trough decline	-74.42%	-70.25%	-4.17%
Max Drawdown (1Y) Largest decline over 1 year	-15.05%	-11.29%	-3.76%
Max Drawdown (3Y) Largest decline over 3 years	-21.44%	-24.82%	+3.38%
Max Drawdown (5Y) Largest decline over 5 years	-26.59%	-37.05%	+10.46%
Max Drawdown (10Y) Largest decline over 10 years	-69.58%	-37.05%	-32.53%
Current Drawdown Current decline from peak	-11.50%	-2.73%	-8.77%
Average Drawdown Average peak-to-trough decline	-19.94%	-16.97%	-2.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.45%	2.81%	+2.64%

Volatility

VENAX vs. FOCPX - Volatility Comparison

The current volatility for Vanguard Energy Index Fund Admiral Shares (VENAX) is 6.79%, while Fidelity OTC Portfolio (FOCPX) has a volatility of 8.73%. This indicates that VENAX experiences smaller price fluctuations and is considered to be less risky than FOCPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VENAX	FOCPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.79%	8.73%	-1.94%
Volatility (6M) Calculated over the trailing 6-month period	16.59%	16.64%	-0.05%
Volatility (1Y) Calculated over the trailing 1-year period	20.73%	20.13%	+0.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.32%	23.05%	+3.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.21%	22.54%	+7.67%

VENAX vs. FOCPX - Expense Ratio Comparison

VENAX has a 0.10% expense ratio, which is lower than FOCPX's 0.73% expense ratio.

Dividends

VENAX vs. FOCPX - Dividend Comparison

VENAX's dividend yield for the trailing twelve months is around 2.59%, less than FOCPX's 6.17% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FOCPX Fidelity OTC Portfolio	6.17%	7.78%	16.76%	0.05%	4.06%	11.53%	6.23%	7.58%	7.93%	4.86%	3.24%	5.41%
VENAX Vanguard Energy Index Fund Admiral Shares	2.59%	3.10%	3.24%	3.34%	3.65%	3.80%	4.76%	3.41%	3.35%	2.90%	2.31%	3.17%

Frequently Asked Questions

Can I hold both VENAX and FOCPX in my portfolio?

VENAX and FOCPX have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VENAX or FOCPX?

FOCPX has higher volatility (8.73%) compared to VENAX (6.79%). In terms of maximum drawdown, VENAX dropped -74.42% vs FOCPX's -70.25%.

Which has better risk-adjusted returns?

FOCPX currently has the higher Sharpe Ratio (2.37 vs 1.39), 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.