BGFIX vs. FCGSX

Last updated Aug 1, 2026

BGFIX (William Blair Growth Fund) and FCGSX (Fidelity Series Growth Company Fund) are both Large Cap Growth Equities funds. BGFIX is passively managed, while FCGSX is actively managed. Over the past 10 years, BGFIX returned 14.33%/yr vs 23.21%/yr for FCGSX. Their correlation of 0.93 means they have usually moved in the same direction. BGFIX charges 0.89%/yr vs 0.00%/yr for FCGSX.

Performance

BGFIX vs. FCGSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in William Blair Growth Fund (BGFIX) and Fidelity Series Growth Company Fund (FCGSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BGFIX achieves a 3.39% return, which is significantly lower than FCGSX's 15.70% return. Over the past 10 years, BGFIX has underperformed FCGSX with an annualized return of 14.33%, while FCGSX has yielded a comparatively higher 23.21% annualized return.

BGFIX

• 1D: 2.82%
• 1M: -1.83%
• 6M: 5.02%
• YTD: 3.39%
• 1Y: 10.28%
• 3Y*: 14.10%
• 5Y*: 7.41%
• 10Y*: 14.33%
• ALL TIME*: 8.56%

FCGSX

• 1D: 2.90%
• 1M: -4.42%
• 6M: 12.80%
• YTD: 15.70%
• 1Y: 35.19%
• 3Y*: 28.42%
• 5Y*: 16.31%
• 10Y*: 23.21%
• ALL TIME*: 20.59%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BGFIX William Blair Growth Fund	$0.00	$0.00	$0.00
FCGSX Fidelity Series Growth Company Fund	$0.00	$0.00	$0.00

BGFIX vs. FCGSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BGFIX William Blair Growth Fund	3.39%	10.83%	22.26%	38.13%	-29.60%	22.24%	36.48%	32.43%	5.25%	24.53%
FCGSX Fidelity Series Growth Company Fund	15.70%	25.52%	38.00%	45.97%	-32.15%	25.13%	70.01%	39.75%	-4.03%	37.69%

Correlation

The correlation between BGFIX and FCGSX is 0.90, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.90
Correlation (3Y) Balances recent behavior with more history.	0.91
Correlation (5Y) Shows whether the relationship held over a longer period.	0.94
Correlation (10Y) Provides a long-term view across more market conditions.	0.93
Correlation (All Time) Calculated using the full available price history since Nov 19, 2013	0.93

The correlation between BGFIX and FCGSX has been stable across timeframes, ranging from 0.90 to 0.94 - a consistent structural relationship.

Return for Risk

BGFIX vs. FCGSX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

BGFIX

BGFIX Risk / Return Rank: 9
BGFIX Sharpe Ratio Rank: 9
BGFIX Sortino Ratio Rank: 9
BGFIX Omega Ratio Rank: 9
BGFIX Calmar Ratio Rank: 8
BGFIX Martin Ratio Rank: 8

FCGSX

FCGSX Risk / Return Rank: 76
FCGSX Sharpe Ratio Rank: 72
FCGSX Sortino Ratio Rank: 67
FCGSX Omega Ratio Rank: 65
FCGSX Calmar Ratio Rank: 88
FCGSX Martin Ratio Rank: 89

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

BGFIX vs. FCGSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for William Blair Growth Fund (BGFIX) and Fidelity Series Growth Company Fund (FCGSX). 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.

	BGFIX	FCGSX	Difference
Sharpe ratio: Return per unit of total volatility	0.37	1.65	-1.27
Sortino ratio: Return per unit of downside risk	0.64	2.23	-1.59
Omega ratio: Gain probability vs. loss probability	1.08	1.28	-0.20
Calmar ratio: Return relative to maximum drawdown	0.35	3.15	-2.81
Martin ratio: Return relative to average drawdown	0.96	11.58	-10.62

BGFIX vs. FCGSX - Sharpe Ratio Comparison

The current BGFIX Sharpe Ratio is 0.37, which is lower than the FCGSX Sharpe Ratio of 1.65. The chart below compares the historical Sharpe Ratios of BGFIX and FCGSX, 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

BGFIX vs. FCGSX - Drawdown Comparison

The maximum BGFIX drawdown since its inception was -53.45%, which is greater than FCGSX's maximum drawdown of -38.77%. Use the drawdown chart below to compare losses from any high point for BGFIX and FCGSX.

Drawdown Indicators

	BGFIX	FCGSX	Difference
Max Drawdown Largest peak-to-trough decline	-53.45%	-38.77%	-14.68%
Max Drawdown (1Y) Largest decline over 1 year	-19.83%	-10.42%	-9.41%
Max Drawdown (3Y) Largest decline over 3 years	-25.34%	-26.07%	+0.73%
Max Drawdown (5Y) Largest decline over 5 years	-36.70%	-38.77%	+2.07%
Max Drawdown (10Y) Largest decline over 10 years	-36.70%	-38.77%	+2.07%
Current Drawdown Current decline from peak	-6.69%	-7.07%	+0.38%
Average Drawdown Average peak-to-trough decline	-13.36%	-6.92%	-6.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.21%	2.83%	+4.38%

Volatility

BGFIX vs. FCGSX - Volatility Comparison

The current volatility for William Blair Growth Fund (BGFIX) is 5.92%, while Fidelity Series Growth Company Fund (FCGSX) has a volatility of 6.27%. This indicates that BGFIX experiences smaller price fluctuations and is considered to be less risky than FCGSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BGFIX	FCGSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.92%	6.27%	-0.35%
Volatility (6M) Calculated over the trailing 6-month period	14.76%	15.91%	-1.15%
Volatility (1Y) Calculated over the trailing 1-year period	18.53%	19.98%	-1.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.81%	24.00%	-2.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.67%	23.37%	-2.70%

BGFIX vs. FCGSX - Expense Ratio Comparison

BGFIX has a 0.89% expense ratio, which is higher than FCGSX's 0.00% expense ratio.

Dividends

BGFIX vs. FCGSX - Dividend Comparison

BGFIX's dividend yield for the trailing twelve months is around 26.09%, more than FCGSX's 9.06% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BGFIX William Blair Growth Fund	26.09%	26.97%	24.13%	9.67%	3.60%	11.74%	12.31%	8.62%	33.23%	34.05%	8.35%	12.91%
FCGSX Fidelity Series Growth Company Fund	9.06%	10.48%	12.49%	3.13%	0.61%	38.65%	31.99%	11.06%	13.21%	10.51%	2.44%	0.25%

Frequently Asked Questions

Can I hold both BGFIX and FCGSX in my portfolio?

With a correlation of 0.90, BGFIX and FCGSX 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, BGFIX or FCGSX?

FCGSX has higher volatility (6.27%) compared to BGFIX (5.92%). In terms of maximum drawdown, BGFIX dropped -53.45% vs FCGSX's -38.77%.

Which has better risk-adjusted returns?

FCGSX currently has the higher Sharpe Ratio (1.65 vs 0.37), 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.