The Manchester United playmaker remains the top-scoring player in Fantasy on 216 points.
But he is struggling for form, blanking in four of his last six appearances.
Fernandes has produced just one goal, an assist and 26 points over that run, one point fewer than his team-mate Mason Greenwood (£7.0m).
Yet the Portuguese's huge 57.7 per cent ownership continue to entrust him with the armband.
Indeed, hehas been among the two most-popular captains in each of the five Gameweeks during that period.
|GW||Captain rank||Captained by||Points|
The underlying numbers highlight a definite downturn in Fernandes’ goal threat.
His shots in the box and goal conversion percentage have more than halved, while his minutes per shot have also dropped considerably.
|Mins per shot||25.4||44.8|
|Shots in box per match||1.3||0.5|
And with a Gameweek 34 contest against Liverpool also to follow, Fernandes may no longer be the automatic choice for the captaincy.
Jesse Lingard (£6.4m) boasts the best form of any player in Fantasy, with 58 points in his last six appearances for West Ham United.
And Mohamed Salah (£12.5m) has a very kind run-in as he battles with Kane for the Golden Boot.
Five of Liverpool's remaining seven matches score only two in the Fixture Difficulty Ratings (FDR).
|32||LEE (A)||3||36||WBA (A)||2|
|33||NEW (H)||2||37||BUR (A)||2|
|34||MUN (A)||4||38||CRY (H)||2|
Leicester forward Iheanacho has seven goals and 50 points in his last five appearances, while Lacazette has four goals, an assist and 34 points in his last four for the Gunners.
Part 1: GW31 FPL stats: Lingard and Iheanacho shine again
Part 2: GW31 Bonus points: Johnstone saves his best until last
Part 3: FDR Analysis: Time to target Leicester
Part 4: FPL Saturday review: Double takes Dallas to top spot
Part 6: GW31 Lessons: Chelsea attack finding form
Part 7: FPL experts: What to do with Fernandes and your captain's armband?