AVIV vs. FSPGX

Last updated Jun 16, 2026

AVIV (Avantis International Large Cap Value ETF) and FSPGX (Fidelity Large Cap Growth Index Fund) are both funds - AVIV is a Foreign Large Cap Equities fund actively managed by Avantis, while FSPGX is a Large Cap Growth Equities fund managed by Fidelity. Over the past 3 years, AVIV returned 21.08%/yr vs 22.52%/yr for FSPGX. A 0.59 correlation means they provide meaningful diversification when combined. AVIV charges 0.25%/yr vs 0.04%/yr for FSPGX.

Performance

AVIV vs. FSPGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Avantis International Large Cap Value ETF (AVIV) and Fidelity Large Cap Growth Index Fund (FSPGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AVIV achieves a 12.69% return, which is significantly higher than FSPGX's 3.00% return.

AVIV

• 1D: 0.56%
• 1M: 2.69%
• YTD: 12.69%
• 6M: 13.58%
• 1Y: 32.96%
• 3Y*: 21.08%
• 5Y*: —
• 10Y*: —

FSPGX

• 1D: 0.02%
• 1M: -2.20%
• YTD: 3.00%
• 6M: 4.01%
• 1Y: 20.62%
• 3Y*: 22.52%
• 5Y*: 14.08%
• 10Y*: —

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

AVIV vs. FSPGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
AVIV Avantis International Large Cap Value ETF	12.69%	41.80%	4.30%	18.47%	-8.26%	1.83%
FSPGX Fidelity Large Cap Growth Index Fund	3.00%	18.54%	33.27%	42.77%	-29.17%	10.79%

Correlation

The correlation between AVIV and FSPGX is 0.56, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.56
Correlation (3Y) Calculated over the trailing 3-year period	0.52
Correlation (All Time) Calculated using the full available price history since Sep 30, 2021	0.59

The correlation between AVIV and FSPGX has been stable across timeframes, ranging from 0.52 to 0.59 - a consistent structural relationship.

Return for Risk

AVIV vs. FSPGX — Risk / Return Rank

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

AVIV

AVIV Risk / Return Rank: 75
AVIV Sharpe Ratio Rank: 79
AVIV Sortino Ratio Rank: 78
AVIV Omega Ratio Rank: 78
AVIV Calmar Ratio Rank: 67
AVIV Martin Ratio Rank: 71

FSPGX

FSPGX Risk / Return Rank: 20
FSPGX Sharpe Ratio Rank: 23
FSPGX Sortino Ratio Rank: 21
FSPGX Omega Ratio Rank: 22
FSPGX Calmar Ratio Rank: 16
FSPGX Martin Ratio Rank: 17

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.

AVIV vs. FSPGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avantis International Large Cap Value ETF (AVIV) 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.

	AVIV	FSPGX	Difference
Sharpe ratio: Return per unit of total volatility	2.27	1.20	+1.07
Sortino ratio: Return per unit of downside risk	3.10	1.68	+1.43
Omega ratio: Gain probability vs. loss probability	1.41	1.21	+0.20
Calmar ratio: Return relative to maximum drawdown	3.07	1.19	+1.88
Martin ratio: Return relative to average drawdown	11.98	3.92	+8.07

AVIV vs. FSPGX - Sharpe Ratio Comparison

The current AVIV Sharpe Ratio is 2.27, which is higher than the FSPGX Sharpe Ratio of 1.20. The chart below compares the historical Sharpe Ratios of AVIV and FSPGX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AVIV vs. FSPGX - Drawdown Comparison

The maximum AVIV drawdown since its inception was -27.69%, smaller than the maximum FSPGX drawdown of -32.66%. Use the drawdown chart below to compare losses from any high point for AVIV and FSPGX.

Drawdown Indicators

	AVIV	FSPGX	Difference
Max Drawdown Largest peak-to-trough decline	-27.69%	-32.66%	+4.97%
Max Drawdown (1Y) Largest decline over 1 year	-10.78%	-16.17%	+5.39%
Max Drawdown (3Y) Largest decline over 3 years	-14.13%	-23.32%	+9.19%
Max Drawdown (5Y) Largest decline over 5 years	—	-32.66%	—
Current Drawdown Current decline from peak	-0.34%	-5.51%	+5.17%
Average Drawdown Average peak-to-trough decline	-5.09%	-6.36%	+1.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.76%	4.89%	-2.13%

Volatility

AVIV vs. FSPGX - Volatility Comparison

Avantis International Large Cap Value ETF (AVIV) and Fidelity Large Cap Growth Index Fund (FSPGX) have volatilities of 5.15% and 5.42%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AVIV	FSPGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.15%	5.42%	-0.27%
Volatility (6M) Calculated over the trailing 6-month period	12.32%	12.42%	-0.10%
Volatility (1Y) Calculated over the trailing 1-year period	14.61%	15.96%	-1.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.92%	21.56%	-4.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.92%	21.56%	-4.64%

AVIV vs. FSPGX - Expense Ratio Comparison

AVIV has a 0.25% expense ratio, which is higher than FSPGX's 0.04% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

AVIV vs. FSPGX - Dividend Comparison

AVIV's dividend yield for the trailing twelve months is around 3.92%, more than FSPGX's 0.33% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
AVIV Avantis International Large Cap Value ETF	3.92%	3.01%	3.46%	3.64%	2.84%	0.57%	0.00%	0.00%	0.00%	0.00%
FSPGX Fidelity Large Cap Growth Index Fund	0.33%	0.34%	0.37%	0.73%	0.86%	2.22%	1.76%	1.04%	1.32%	0.22%

Frequently Asked Questions

Can I hold both AVIV and FSPGX in my portfolio?

AVIV and FSPGX have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AVIV or FSPGX?

FSPGX has higher volatility (5.42%) compared to AVIV (5.15%). In terms of maximum drawdown, AVIV dropped -27.69% vs FSPGX's -32.66%.

Which has better risk-adjusted returns?

AVIV currently has the higher Sharpe Ratio (2.27 vs 1.20), 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.