Curvature continuous and tangent are not the same thing.
Edit: Your sketch circles are tangent, while your fillet is curvature continuous.
If you change it to circular, you get the correct radius.
Interesting question that you have raised, I'll give you my input and hopefully it will help.
My understanding Is that the cross-section of a typical symmetrical circular profile fillet is an arc with a fixed radius.
A curvature continuous fillet however has a spline based cross-section, I cant find a reference confirming this I have just heard that before.
Here is some info on curvature continuous fillets from the SOLIDWORKS help:
If you select the cross-sectional edge of a typical fillet you will notice that the status bar at the bottom of the interface shows a radius value.
If however you select the cross-sectional profile of a curvature continuous fillet you will get an arc length value.
If you draw a right angled sketch between the start and end of the curvature continuous fillet cross-section you will see that both edges measure 0.15in which is the value you gave to the fillet.
So technically the radius is correct in the sense that the radius is controlling the size of the fillet when measured from the edge being filleted. The cross-sectional profile of the fillet is maintaining the curvature of the adjacent faces so that it...
"Creates a smoother curvature between adjacent surfaces.
Curvature continuous fillets are smoother than standard fillets because there is no jump in curvature at the boundary."
See the attached part for a more comprehensive view of the sketch I have created to measure the fillet. The sketch is called "NEW SKETCH"
Hope this helps in some way, another user may be able to give a more thorough explanation than I.
Test block1 MODIFIED.SLDPRT.zip 270.1 KB
Assuming you are definitely wanting a curvature continuous fillet then my answer will be of use, if you do want a fixed radius then as Dan said you will need to select the circular option for your fillet profile.
Agreed. I have edited my post accordingly.
Thanks everybody for responding to my question. I now have a little better understanding of the fillet command. Dan, thank you for you answer but since this is a draw punch I need the shape of the curvature continuous function. Circular doesn't give me what I need. Lewis, I will mark your answer as correct based on the fact that I now have a better understanding of the limitations of the command.
Thanks again for all the input