^GSPC vs. FGRTX

Last updated Jun 9, 2026

^GSPC (S&P 500 Index) is an index, while FGRTX (Fidelity Mega Cap Stock Fund) is Large Cap Blend Equities fund actively managed by Fidelity. Over the past 10 years, ^GSPC returned 13.45%/yr vs 16.16%/yr for FGRTX. With a 0.96 correlation, they move nearly in lockstep.

Performance

^GSPC vs. FGRTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in S&P 500 Index (^GSPC) and Fidelity Mega Cap Stock Fund (FGRTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with ^GSPC having a 8.18% return and FGRTX slightly lower at 8.13%. Over the past 10 years, ^GSPC has underperformed FGRTX with an annualized return of 13.45%, while FGRTX has yielded a comparatively higher 16.16% annualized return.

^GSPC

• 1D: 0.30%
• 1M: 0.09%
• YTD: 8.18%
• 6M: 8.17%
• 1Y: 23.42%
• 3Y*: 19.88%
• 5Y*: 11.91%
• 10Y*: 13.45%

FGRTX

• 1D: -2.11%
• 1M: -0.65%
• YTD: 8.13%
• 6M: 9.72%
• 1Y: 27.40%
• 3Y*: 24.66%
• 5Y*: 15.67%
• 10Y*: 16.16%

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

^GSPC vs. FGRTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
^GSPC S&P 500 Index	8.18%	16.39%	23.31%	24.23%	-19.44%	26.89%	16.26%	28.88%	-6.24%	19.42%
FGRTX Fidelity Mega Cap Stock Fund	8.13%	26.92%	25.98%	26.51%	-8.98%	26.29%	12.96%	31.07%	-7.44%	16.98%

Correlation

The correlation between ^GSPC and FGRTX is 0.94, 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	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (10Y) Calculated over the trailing 10-year period	0.93
Correlation (All Time) Calculated using the full available price history since Dec 28, 1998	0.96

The correlation between ^GSPC and FGRTX has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.

Return for Risk

^GSPC vs. FGRTX — Risk / Return Rank

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

^GSPC

^GSPC Risk / Return Rank: 68
^GSPC Sharpe Ratio Rank: 63
^GSPC Sortino Ratio Rank: 65
^GSPC Omega Ratio Rank: 71
^GSPC Calmar Ratio Rank: 65
^GSPC Martin Ratio Rank: 79

FGRTX

FGRTX Risk / Return Rank: 70
FGRTX Sharpe Ratio Rank: 69
FGRTX Sortino Ratio Rank: 63
FGRTX Omega Ratio Rank: 63
FGRTX Calmar Ratio Rank: 73
FGRTX Martin Ratio Rank: 81

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.

^GSPC vs. FGRTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for S&P 500 Index (^GSPC) and Fidelity Mega Cap Stock Fund (FGRTX). 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.

	^GSPC	FGRTX	Difference
Sharpe ratio: Return per unit of total volatility	1.94	2.35	-0.41
Sortino ratio: Return per unit of downside risk	2.63	3.21	-0.59
Omega ratio: Gain probability vs. loss probability	1.35	1.42	-0.07
Calmar ratio: Return relative to maximum drawdown	2.59	3.20	-0.62
Martin ratio: Return relative to average drawdown	11.84	14.48	-2.64
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

^GSPC vs. FGRTX - Sharpe Ratio Comparison

The current ^GSPC Sharpe Ratio is 1.94, which is comparable to the FGRTX Sharpe Ratio of 2.35. The chart below compares the historical Sharpe Ratios of ^GSPC and FGRTX, 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

	^GSPC	FGRTX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.94	2.35	-0.41
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.71	0.94	-0.23
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.75	0.89	-0.15
Sharpe Ratio (All Time) Calculated using the full available price history	0.47	0.47	0.00

Drawdowns

^GSPC vs. FGRTX - Drawdown Comparison

The maximum ^GSPC drawdown since its inception was -56.78%, roughly equal to the maximum FGRTX drawdown of -56.17%. Use the drawdown chart below to compare losses from any high point for ^GSPC and FGRTX.

Drawdown Indicators

	^GSPC	FGRTX	Difference
Max Drawdown Largest peak-to-trough decline	-56.78%	-56.17%	-0.61%
Max Drawdown (1Y) Largest decline over 1 year	-9.10%	-8.99%	-0.11%
Max Drawdown (3Y) Largest decline over 3 years	-18.90%	-18.51%	-0.39%
Max Drawdown (5Y) Largest decline over 5 years	-25.43%	-23.35%	-2.08%
Max Drawdown (10Y) Largest decline over 10 years	-33.92%	-35.18%	+1.26%
Current Drawdown Current decline from peak	-2.68%	-2.45%	-0.23%
Average Drawdown Average peak-to-trough decline	-10.72%	-8.72%	-2.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.98%	1.98%	0.00%

Volatility

^GSPC vs. FGRTX - Volatility Comparison

S&P 500 Index (^GSPC) has a higher volatility of 3.80% compared to Fidelity Mega Cap Stock Fund (FGRTX) at 3.39%. This indicates that ^GSPC's price experiences larger fluctuations and is considered to be riskier than FGRTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	^GSPC	FGRTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.80%	3.39%	+0.41%
Volatility (6M) Calculated over the trailing 6-month period	9.41%	9.38%	+0.03%
Volatility (1Y) Calculated over the trailing 1-year period	12.17%	12.25%	-0.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.94%	16.73%	+0.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.09%	18.13%	-0.04%

Frequently Asked Questions

Can I hold both ^GSPC and FGRTX in my portfolio?

With a correlation of 0.94, ^GSPC and FGRTX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, ^GSPC or FGRTX?

^GSPC has higher volatility (3.80%) compared to FGRTX (3.39%). In terms of maximum drawdown, ^GSPC dropped -56.78% vs FGRTX's -56.17%.

Which has better risk-adjusted returns?

FGRTX currently has the higher Sharpe Ratio (2.35 vs 1.94), 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.