WFDDX vs. FSCRX

Last updated Jun 6, 2026

WFDDX (Allspring Discovery SMID Cap Growth Fund) and FSCRX (Fidelity Small Cap Discovery Fund) are both mutual funds - WFDDX is a Mid Cap Growth Equities fund managed by Allspring Global Investments, while FSCRX is a Small Cap Blend Equities fund managed by Fidelity. Over the past 10 years, WFDDX returned 12.81%/yr vs 9.71%/yr for FSCRX. Their correlation of 0.82 suggests significant overlap in exposure. WFDDX charges 1.11%/yr vs 0.98%/yr for FSCRX.

Performance

WFDDX vs. FSCRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Allspring Discovery SMID Cap Growth Fund (WFDDX) and Fidelity Small Cap Discovery Fund (FSCRX). 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 WFDDX having a 15.44% return and FSCRX slightly higher at 15.84%. Over the past 10 years, WFDDX has outperformed FSCRX with an annualized return of 12.81%, while FSCRX has yielded a comparatively lower 9.71% annualized return.

WFDDX

• 1D: 1.05%
• 1M: 3.18%
• YTD: 15.44%
• 6M: 13.68%
• 1Y: 20.79%
• 3Y*: 14.90%
• 5Y*: 1.63%
• 10Y*: 12.81%

FSCRX

• 1D: 0.94%
• 1M: 3.57%
• YTD: 15.84%
• 6M: 15.44%
• 1Y: 30.51%
• 3Y*: 15.68%
• 5Y*: 7.59%
• 10Y*: 9.71%

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

WFDDX vs. FSCRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
WFDDX Allspring Discovery SMID Cap Growth Fund	15.44%	5.51%	18.05%	20.25%	-37.83%	-6.10%	61.81%	61.34%	-6.95%	29.27%
FSCRX Fidelity Small Cap Discovery Fund	15.84%	10.89%	2.75%	21.28%	-16.68%	35.66%	6.87%	27.31%	-14.06%	7.71%

Correlation

The correlation between WFDDX and FSCRX is 0.83, 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	0.83
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.80
Correlation (10Y) Calculated over the trailing 10-year period	0.75
Correlation (All Time) Calculated using the full available price history since Apr 11, 2005	0.82

The correlation between WFDDX and FSCRX has been stable across timeframes, ranging from 0.75 to 0.83 - a consistent structural relationship.

Return for Risk

WFDDX vs. FSCRX — Risk / Return Rank

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

WFDDX

WFDDX Risk / Return Rank: 17
WFDDX Sharpe Ratio Rank: 16
WFDDX Sortino Ratio Rank: 16
WFDDX Omega Ratio Rank: 15
WFDDX Calmar Ratio Rank: 18
WFDDX Martin Ratio Rank: 23

FSCRX

FSCRX Risk / Return Rank: 46
FSCRX Sharpe Ratio Rank: 42
FSCRX Sortino Ratio Rank: 42
FSCRX Omega Ratio Rank: 37
FSCRX Calmar Ratio Rank: 59
FSCRX Martin Ratio Rank: 47

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.

WFDDX vs. FSCRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Allspring Discovery SMID Cap Growth Fund (WFDDX) and Fidelity Small Cap Discovery Fund (FSCRX). 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.

	WFDDX	FSCRX	Difference
Sharpe ratio: Return per unit of total volatility	1.06	1.81	-0.76
Sortino ratio: Return per unit of downside risk	1.58	2.63	-1.05
Omega ratio: Gain probability vs. loss probability	1.19	1.31	-0.12
Calmar ratio: Return relative to maximum drawdown	1.48	2.86	-1.38
Martin ratio: Return relative to average drawdown	5.43	9.48	-4.06
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WFDDX vs. FSCRX - Sharpe Ratio Comparison

The current WFDDX Sharpe Ratio is 1.06, which is lower than the FSCRX Sharpe Ratio of 1.81. The chart below compares the historical Sharpe Ratios of WFDDX and FSCRX, 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

	WFDDX	FSCRX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.06	1.81	-0.76
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.05	0.38	-0.33
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.44	0.45	-0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.41	0.48	-0.07

Drawdowns

WFDDX vs. FSCRX - Drawdown Comparison

The maximum WFDDX drawdown since its inception was -59.22%, which is greater than FSCRX's maximum drawdown of -56.27%. Use the drawdown chart below to compare losses from any high point for WFDDX and FSCRX.

Drawdown Indicators

	WFDDX	FSCRX	Difference
Max Drawdown Largest peak-to-trough decline	-59.22%	-56.27%	-2.95%
Max Drawdown (1Y) Largest decline over 1 year	-14.77%	-11.34%	-3.43%
Max Drawdown (3Y) Largest decline over 3 years	-27.05%	-22.51%	-4.54%
Max Drawdown (5Y) Largest decline over 5 years	-59.22%	-25.91%	-33.31%
Max Drawdown (10Y) Largest decline over 10 years	-59.22%	-47.06%	-12.16%
Current Drawdown Current decline from peak	-23.11%	0.00%	-23.11%
Average Drawdown Average peak-to-trough decline	-16.27%	-7.92%	-8.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.02%	3.41%	+0.61%

Volatility

WFDDX vs. FSCRX - Volatility Comparison

Allspring Discovery SMID Cap Growth Fund (WFDDX) has a higher volatility of 6.00% compared to Fidelity Small Cap Discovery Fund (FSCRX) at 5.71%. This indicates that WFDDX's price experiences larger fluctuations and is considered to be riskier than FSCRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WFDDX	FSCRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.00%	5.71%	+0.29%
Volatility (6M) Calculated over the trailing 6-month period	16.72%	13.19%	+3.53%
Volatility (1Y) Calculated over the trailing 1-year period	20.66%	17.89%	+2.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.34%	20.19%	+13.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.24%	21.72%	+7.52%

WFDDX vs. FSCRX - Expense Ratio Comparison

WFDDX has a 1.11% expense ratio, which is higher than FSCRX's 0.98% expense ratio.

Dividends

WFDDX vs. FSCRX - Dividend Comparison

WFDDX's dividend yield for the trailing twelve months is around 14.87%, more than FSCRX's 12.69% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSCRX Fidelity Small Cap Discovery Fund	12.69%	14.70%	13.03%	4.44%	11.56%	6.12%	2.79%	7.46%	35.48%	13.68%	0.44%	7.28%
WFDDX Allspring Discovery SMID Cap Growth Fund	14.87%	17.17%	9.33%	0.00%	1.35%	36.45%	4.93%	26.87%	19.12%	17.95%	1.32%	8.92%

Frequently Asked Questions

Can I hold both WFDDX and FSCRX in my portfolio?

WFDDX and FSCRX have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WFDDX or FSCRX?

WFDDX has higher volatility (6.00%) compared to FSCRX (5.71%). In terms of maximum drawdown, WFDDX dropped -59.22% vs FSCRX's -56.27%.

Which has better risk-adjusted returns?

FSCRX currently has the higher Sharpe Ratio (1.81 vs 1.06), 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.