^GSPC vs. FSPGX
^GSPC (S&P 500 Index) is an index, while FSPGX (Fidelity Large Cap Growth Index Fund) is Large Cap Growth Equities fund managed by Fidelity. Over the past 5 years, ^GSPC returned 11.84%/yr vs 14.07%/yr for FSPGX. Their correlation of 0.94 suggests significant overlap in exposure.
Performance
^GSPC vs. FSPGX - Performance Comparison
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Returns By Period
In the year-to-date period, ^GSPC achieves a 8.56% return, which is significantly higher than FSPGX's 2.98% return.
^GSPC
- 1D
- 0.50%
- 1M
- -0.17%
- YTD
- 8.56%
- 6M
- 8.85%
- 1Y
- 22.93%
- 3Y*
- 19.37%
- 5Y*
- 11.84%
- 10Y*
- 13.61%
FSPGX
- 1D
- 1.64%
- 1M
- -2.14%
- YTD
- 2.98%
- 6M
- 3.48%
- 1Y
- 19.06%
- 3Y*
- 22.79%
- 5Y*
- 14.07%
- 10Y*
- —
^GSPC vs. FSPGX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
^GSPC S&P 500 Index | 8.56% | 16.39% | 23.31% | 24.23% | -19.44% | 26.89% | 16.26% | 28.88% | -6.24% | 19.42% |
FSPGX Fidelity Large Cap Growth Index Fund | 2.98% | 18.54% | 33.27% | 42.77% | -29.17% | 27.57% | 38.46% | 36.38% | -1.79% | 27.70% |
Correlation
The correlation between ^GSPC and FSPGX is 0.93, 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 | 0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.95 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017 | 0.94 |
The correlation between ^GSPC and FSPGX has been stable across timeframes, ranging from 0.93 to 0.95 - a consistent structural relationship.
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Return for Risk
^GSPC vs. FSPGX — Risk / Return Rank
^GSPC
FSPGX
^GSPC vs. FSPGX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for S&P 500 Index (^GSPC) and Fidelity Large Cap Growth Index Fund (FSPGX). 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.
| ^GSPC | FSPGX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.63 | ||
| Sortino ratioReturn per unit of downside risk | +0.82 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.22 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 2.53 | 1.22 | +1.32 |
| Martin ratioReturn relative to average drawdown | 11.37 | 4.03 | +7.35 |
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Drawdowns
^GSPC vs. FSPGX - Drawdown Comparison
The maximum ^GSPC drawdown since its inception was -56.78%, which is greater than FSPGX's maximum drawdown of -32.66%. Use the drawdown chart below to compare losses from any high point for ^GSPC and FSPGX.
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Drawdown Indicators
| ^GSPC | FSPGX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.78% | -32.66% | -24.12% |
Max Drawdown (1Y)Largest decline over 1 year | -9.10% | -16.17% | +7.07% |
Max Drawdown (3Y)Largest decline over 3 years | -18.90% | -23.32% | +4.42% |
Max Drawdown (5Y)Largest decline over 5 years | -25.43% | -32.66% | +7.23% |
Max Drawdown (10Y)Largest decline over 10 years | -33.92% | — | — |
Current DrawdownCurrent decline from peak | -2.34% | -5.53% | +3.19% |
Average DrawdownAverage peak-to-trough decline | -10.72% | -6.36% | -4.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.02% | 4.87% | -2.85% |
Volatility
^GSPC vs. FSPGX - Volatility Comparison
The current volatility for S&P 500 Index (^GSPC) is 4.43%, while Fidelity Large Cap Growth Index Fund (FSPGX) has a volatility of 5.49%. This indicates that ^GSPC experiences smaller price fluctuations and is considered to be less risky than FSPGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ^GSPC | FSPGX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.43% | 5.49% | -1.06% |
Volatility (6M)Calculated over the trailing 6-month period | 9.70% | 12.42% | -2.72% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.38% | 15.97% | -3.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.97% | 21.57% | -4.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.09% | 21.56% | -3.47% |
Frequently Asked Questions
With a correlation of 0.93, ^GSPC and FSPGX 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.
FSPGX has higher volatility (5.49%) compared to ^GSPC (4.43%). In terms of maximum drawdown, ^GSPC dropped -56.78% vs FSPGX's -32.66%.
^GSPC currently has the higher Sharpe Ratio (1.86 vs 1.23), 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.
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