FBCG vs. FXAIX

Last updated Jun 17, 2026

FBCG (Fidelity Blue Chip Growth ETF) and FXAIX (Fidelity 500 Index Fund) are both funds - FBCG is a Large Cap Growth Equities fund actively managed by Fidelity, while FXAIX is a S&P 500 fund tracking the S&P 500 Index. FBCG is actively managed, while FXAIX is passively managed. Over the past 5 years, FBCG returned 14.60%/yr vs 13.95%/yr for FXAIX. Their correlation of 0.89 suggests significant overlap in exposure. FBCG charges 0.59%/yr vs 0.02%/yr for FXAIX.

Performance

FBCG vs. FXAIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Blue Chip Growth ETF (FBCG) and Fidelity 500 Index Fund (FXAIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FBCG achieves a 13.20% return, which is significantly higher than FXAIX's 10.97% return.

FBCG

• 1D: -1.26%
• 1M: 1.77%
• YTD: 13.20%
• 6M: 15.03%
• 1Y: 34.41%
• 3Y*: 28.37%
• 5Y*: 14.60%
• 10Y*: —

FXAIX

• 1D: 1.67%
• 1M: 2.10%
• YTD: 10.97%
• 6M: 11.75%
• 1Y: 26.72%
• 3Y*: 21.27%
• 5Y*: 13.95%
• 10Y*: 15.73%

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

FBCG vs. FXAIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
FBCG Fidelity Blue Chip Growth ETF	13.20%	18.60%	39.05%	57.98%	-39.10%	21.34%	41.44%
FXAIX Fidelity 500 Index Fund	10.97%	17.84%	25.01%	26.29%	-18.14%	28.71%	21.43%

Correlation

The correlation between FBCG and FXAIX is 0.91, 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	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (All Time) Calculated using the full available price history since Jun 4, 2020	0.89

The correlation between FBCG and FXAIX has been stable across timeframes, ranging from 0.89 to 0.92 - a consistent structural relationship.

Return for Risk

FBCG vs. FXAIX — Risk / Return Rank

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

FBCG

FBCG Risk / Return Rank: 51
FBCG Sharpe Ratio Rank: 54
FBCG Sortino Ratio Rank: 50
FBCG Omega Ratio Rank: 51
FBCG Calmar Ratio Rank: 47
FBCG Martin Ratio Rank: 52

FXAIX

FXAIX Risk / Return Rank: 78
FXAIX Sharpe Ratio Rank: 79
FXAIX Sortino Ratio Rank: 73
FXAIX Omega Ratio Rank: 74
FXAIX Calmar Ratio Rank: 78
FXAIX Martin Ratio Rank: 86

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.

FBCG vs. FXAIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Blue Chip Growth ETF (FBCG) and Fidelity 500 Index Fund (FXAIX). 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.

	FBCG	FXAIX	Difference
Sharpe ratio: Return per unit of total volatility	1.77	2.26	-0.49
Sortino ratio: Return per unit of downside risk	2.38	3.05	-0.66
Omega ratio: Gain probability vs. loss probability	1.31	1.41	-0.10
Calmar ratio: Return relative to maximum drawdown	2.28	3.15	-0.87
Martin ratio: Return relative to average drawdown	8.65	14.31	-5.66

FBCG vs. FXAIX - Sharpe Ratio Comparison

The current FBCG Sharpe Ratio is 1.77, which is comparable to the FXAIX Sharpe Ratio of 2.26. The chart below compares the historical Sharpe Ratios of FBCG and FXAIX, 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

FBCG vs. FXAIX - Drawdown Comparison

The maximum FBCG drawdown since its inception was -43.56%, which is greater than FXAIX's maximum drawdown of -33.79%. Use the drawdown chart below to compare losses from any high point for FBCG and FXAIX.

Drawdown Indicators

	FBCG	FXAIX	Difference
Max Drawdown Largest peak-to-trough decline	-43.56%	-33.79%	-9.77%
Max Drawdown (1Y) Largest decline over 1 year	-15.17%	-8.89%	-6.28%
Max Drawdown (3Y) Largest decline over 3 years	-27.89%	-18.76%	-9.13%
Max Drawdown (5Y) Largest decline over 5 years	-43.56%	-24.50%	-19.06%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.79%	—
Current Drawdown Current decline from peak	-3.09%	-0.66%	-2.43%
Average Drawdown Average peak-to-trough decline	-11.44%	-3.79%	-7.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.99%	1.96%	+2.03%

Volatility

FBCG vs. FXAIX - Volatility Comparison

Fidelity Blue Chip Growth ETF (FBCG) has a higher volatility of 7.63% compared to Fidelity 500 Index Fund (FXAIX) at 4.67%. This indicates that FBCG's price experiences larger fluctuations and is considered to be riskier than FXAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FBCG	FXAIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.63%	4.67%	+2.96%
Volatility (6M) Calculated over the trailing 6-month period	15.24%	9.82%	+5.42%
Volatility (1Y) Calculated over the trailing 1-year period	19.55%	12.43%	+7.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.95%	17.00%	+8.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.79%	18.11%	+7.68%

FBCG vs. FXAIX - Expense Ratio Comparison

FBCG has a 0.59% expense ratio, which is higher than FXAIX's 0.02% expense ratio.

Dividends

FBCG vs. FXAIX - Dividend Comparison

FBCG's dividend yield for the trailing twelve months is around 0.04%, less than FXAIX's 1.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FBCG Fidelity Blue Chip Growth ETF	0.04%	0.05%	0.12%	0.02%	0.00%	0.00%	0.01%	0.00%	0.00%	0.00%	0.00%	0.00%
FXAIX Fidelity 500 Index Fund	1.03%	1.11%	1.25%	1.45%	1.69%	1.22%	1.60%	2.06%	2.72%	1.97%	2.52%	2.83%

Frequently Asked Questions

Can I hold both FBCG and FXAIX in my portfolio?

With a correlation of 0.91, FBCG and FXAIX 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, FBCG or FXAIX?

FBCG has higher volatility (7.63%) compared to FXAIX (4.67%). In terms of maximum drawdown, FBCG dropped -43.56% vs FXAIX's -33.79%.

Which has better risk-adjusted returns?

FXAIX currently has the higher Sharpe Ratio (2.26 vs 1.77), 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.