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FBGRX vs. SPAXX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FBGRX vs. SPAXX

Last updated Jul 21, 2026
Documentation

FBGRX (Fidelity Blue Chip Growth Fund) and SPAXX (Fidelity Government Money Market Fund) are both mutual funds - FBGRX is a Large Cap Growth Equities fund managed by Fidelity, while SPAXX is a Money Market fund actively managed by Fidelity. Over the past 5 years, FBGRX returned 14.50%/yr vs 1.50%/yr for SPAXX. At a 0.00 correlation, their price movements are largely independent. FBGRX charges 0.79%/yr vs 0.42%/yr for SPAXX.

Performance

FBGRX vs. SPAXX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Blue Chip Growth Fund (FBGRX) and Fidelity Government Money Market Fund (SPAXX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, FBGRX achieves a 11.97% return, which is significantly higher than SPAXX's 1.64% return.

FBGRX

1D
-1.36%
1M
-5.95%
6M
11.48%
YTD
11.97%
1Y
25.51%
3Y*
25.84%
5Y*
14.50%
10Y*
21.06%
ALL TIME*
13.53%

SPAXX

1D
0.00%
1M
0.27%
6M
1.64%
YTD
1.64%
1Y
3.60%
3Y*
2.52%
5Y*
1.50%
10Y*
—
ALL TIME*
1.46%
*Multi-year figures are annualized to reflect compound growth (CAGR)

FBGRX vs. SPAXX - Yearly Performance Comparison

2026 (YTD)20252024202320222021
FBGRX
Fidelity Blue Chip Growth Fund		11.97%19.91%39.77%55.61%-38.45%15.89%
SPAXX
Fidelity Government Money Market Fund		1.64%3.96%1.54%0.41%0.00%0.00%

Correlation

The correlation between FBGRX and SPAXX is 0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.02

Correlation (3Y)
Calculated over the trailing 3-year period

-0.00

Correlation (5Y)
Calculated over the trailing 5-year period

0.00

Correlation (All Time)
Calculated using the full available price history since May 25, 2021

0.00

Compare stocks, funds, or ETFs

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Fidelity Blue Chip Growth Fund

Fidelity Government Money Market Fund

Often compared with FBGRX:
FBGRX vs. FXAIXFBGRX vs. FSPGXFBGRX vs. QQQFBGRX vs. VOOFBGRX vs. FDGRXFBGRX vs. SPYFBGRX vs. FLCNX
Often compared with SPAXX:
SPAXX vs. SGOVSPAXX vs. VMFXXSPAXX vs. SWVXXSPAXX vs. SNSXXSPAXX vs. BILSPAXX vs. BNDSPAXX vs. TFLO

Return for Risk

FBGRX vs. SPAXX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FBGRX
FBGRX Risk / Return Rank: 3636
Overall Rank
FBGRX Sharpe Ratio Rank: 3333
Sharpe Ratio Rank
FBGRX Sortino Ratio Rank: 3131
Sortino Ratio Rank
FBGRX Omega Ratio Rank: 3131
Omega Ratio Rank
FBGRX Calmar Ratio Rank: 4141
Calmar Ratio Rank
FBGRX Martin Ratio Rank: 4646
Martin Ratio Rank
SPAXX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

FBGRX vs. SPAXX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Blue Chip Growth Fund (FBGRX) and Fidelity Government Money Market Fund (SPAXX). 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.

FBGRXSPAXXDifference
Sharpe ratioReturn per unit of total volatility
1.31
3.65

-2.33

Sortino ratioReturn per unit of downside risk
1.83

—

—

Omega ratioGain probability vs. loss probability

1.23

—

—

Calmar ratioReturn relative to maximum drawdown

2.03

—

—

Martin ratioReturn relative to average drawdown

7.90

—

—

FBGRX vs. SPAXX - Sharpe Ratio Comparison

The current FBGRX Sharpe Ratio is 1.31, which is lower than the SPAXX Sharpe Ratio of 3.65. The chart below compares the historical Sharpe Ratios of FBGRX and SPAXX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

FBGRX vs. SPAXX - Drawdown Comparison

The maximum FBGRX drawdown since its inception was -58.64%, which is greater than SPAXX's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for FBGRX and SPAXX.

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Drawdown Indicators

FBGRXSPAXXDifference

Max Drawdown

Largest peak-to-trough decline

-58.64%

0.00%

-58.64%

Max Drawdown (1Y)

Largest decline over 1 year

-12.65%

0.00%

-12.65%

Max Drawdown (3Y)

Largest decline over 3 years

-27.07%

0.00%

-27.07%

Max Drawdown (5Y)

Largest decline over 5 years

-43.08%

0.00%

-43.08%

Max Drawdown (10Y)

Largest decline over 10 years

-43.08%

—

—

Current Drawdown

Current decline from peak

-6.27%

0.00%

-6.27%

Average Drawdown

Average peak-to-trough decline

-12.50%

0.00%

-12.50%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.24%

0.00%

+3.24%

Volatility

FBGRX vs. SPAXX - Volatility Comparison

Fidelity Blue Chip Growth Fund (FBGRX) has a higher volatility of 6.78% compared to Fidelity Government Money Market Fund (SPAXX) at 0.27%. This indicates that FBGRX's price experiences larger fluctuations and is considered to be riskier than SPAXX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FBGRXSPAXXDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.78%

0.27%

+6.51%

Volatility (6M)

Calculated over the trailing 6-month period

15.63%

0.65%

+14.98%

Volatility (1Y)

Calculated over the trailing 1-year period

19.54%

1.02%

+18.52%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

25.19%

0.70%

+24.49%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

23.79%

0.69%

+23.10%

FBGRX vs. SPAXX - Expense Ratio Comparison

FBGRX has a 0.79% expense ratio, which is higher than SPAXX's 0.42% expense ratio.

Dividends

FBGRX vs. SPAXX - Dividend Comparison

FBGRX's dividend yield for the trailing twelve months is around 1.70%, less than SPAXX's 3.53% yield.

PositionTTM20252024202320222021202020192018201720162015
FBGRX
Fidelity Blue Chip Growth Fund		1.70%1.90%5.95%0.93%0.57%8.73%6.40%3.70%6.32%4.23%4.05%5.30%
SPAXX
Fidelity Government Money Market Fund		3.53%3.88%1.53%0.41%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

FBGRX and SPAXX have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

FBGRX has higher volatility (6.78%) compared to SPAXX (0.27%). In terms of maximum drawdown, FBGRX dropped -58.64% vs SPAXX's 0.00%.

SPAXX currently has the higher Sharpe Ratio (3.65 vs 1.31), 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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