FCEUX vs. ^GSPC

Last updated Jun 4, 2026

FCEUX (Franklin U.S. Core Equity (IU) Fund Advisor) is Large Cap Blend Equities fund managed by Franklin Templeton, while ^GSPC (S&P 500 Index) is an index. Over the past 5 years, FCEUX returned 15.30%/yr vs 12.30%/yr for ^GSPC. With a 0.98 correlation, they move nearly in lockstep.

Performance

FCEUX vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin U.S. Core Equity (IU) Fund Advisor (FCEUX) and S&P 500 Index (^GSPC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FCEUX achieves a 9.21% return, which is significantly lower than ^GSPC's 10.35% return.

FCEUX

• 1D: 0.00%
• 1M: 4.33%
• YTD: 9.21%
• 6M: 9.95%
• 1Y: 27.70%
• 3Y*: 24.13%
• 5Y*: 15.30%
• 10Y*: —

^GSPC

• 1D: -0.74%
• 1M: 4.90%
• YTD: 10.35%
• 6M: 10.28%
• 1Y: 26.52%
• 3Y*: 20.83%
• 5Y*: 12.30%
• 10Y*: 13.66%

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

FCEUX vs. ^GSPC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FCEUX Franklin U.S. Core Equity (IU) Fund Advisor	9.21%	18.76%	31.47%	22.29%	-14.71%	31.00%	19.13%	7.05%
^GSPC S&P 500 Index	10.35%	16.39%	23.31%	24.23%	-19.44%	26.89%	16.26%	8.50%

Correlation

The correlation between FCEUX and ^GSPC is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.98
Correlation (3Y) Calculated over the trailing 3-year period	0.98
Correlation (5Y) Calculated over the trailing 5-year period	0.98
Correlation (All Time) Calculated using the full available price history since Sep 27, 2019	0.98

The correlation between FCEUX and ^GSPC has been stable across timeframes, ranging from 0.98 to 0.98 - a consistent structural relationship.

Return for Risk

FCEUX vs. ^GSPC — Risk / Return Rank

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

FCEUX

FCEUX Risk / Return Rank: 69
FCEUX Sharpe Ratio Rank: 66
FCEUX Sortino Ratio Rank: 60
FCEUX Omega Ratio Rank: 60
FCEUX Calmar Ratio Rank: 74
FCEUX Martin Ratio Rank: 84

^GSPC

^GSPC Risk / Return Rank: 73
^GSPC Sharpe Ratio Rank: 71
^GSPC Sortino Ratio Rank: 71
^GSPC Omega Ratio Rank: 72
^GSPC Calmar Ratio Rank: 67
^GSPC Martin Ratio Rank: 81

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.

FCEUX vs. ^GSPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin U.S. Core Equity (IU) Fund Advisor (FCEUX) and S&P 500 Index (^GSPC). 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.

	FCEUX	^GSPC	Difference
Sharpe ratio Return per unit of total volatility	2.38	2.24	+0.13
Sortino ratio Return per unit of downside risk	3.26	3.07	+0.18
Omega ratio Gain probability vs. loss probability	1.43	1.41	+0.03
Calmar ratio Return relative to maximum drawdown	3.36	2.93	+0.43
Martin ratio Return relative to average drawdown	15.96	13.52	+2.44
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FCEUX vs. ^GSPC - Sharpe Ratio Comparison

The current FCEUX Sharpe Ratio is 2.38, which is comparable to the ^GSPC Sharpe Ratio of 2.24. The chart below compares the historical Sharpe Ratios of FCEUX and ^GSPC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FCEUX	^GSPC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.38	2.24	+0.13
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.94	0.73	+0.20
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.76	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.90	0.47	+0.43

Drawdowns

FCEUX vs. ^GSPC - Drawdown Comparison

The maximum FCEUX drawdown since its inception was -33.57%, smaller than the maximum ^GSPC drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for FCEUX and ^GSPC.

Drawdown Indicators

	FCEUX	^GSPC	Difference
Max Drawdown Largest peak-to-trough decline	-33.57%	-56.78%	+23.21%
Max Drawdown (1Y) Largest decline over 1 year	-8.48%	-9.10%	+0.62%
Max Drawdown (3Y) Largest decline over 3 years	-18.77%	-18.90%	+0.13%
Max Drawdown (5Y) Largest decline over 5 years	-23.03%	-25.43%	+2.40%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.92%	—
Current Drawdown Current decline from peak	0.00%	-0.74%	+0.74%
Average Drawdown Average peak-to-trough decline	-4.79%	-10.72%	+5.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.78%	1.97%	-0.19%

Volatility

FCEUX vs. ^GSPC - Volatility Comparison

The current volatility for Franklin U.S. Core Equity (IU) Fund Advisor (FCEUX) is 2.67%, while S&P 500 Index (^GSPC) has a volatility of 2.93%. This indicates that FCEUX experiences smaller price fluctuations and is considered to be less risky than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCEUX	^GSPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.67%	2.93%	-0.26%
Volatility (6M) Calculated over the trailing 6-month period	9.12%	8.99%	+0.13%
Volatility (1Y) Calculated over the trailing 1-year period	12.00%	11.89%	+0.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.45%	16.90%	-0.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.77%	18.06%	+1.71%

Frequently Asked Questions

Can I hold both FCEUX and ^GSPC in my portfolio?

With a correlation of 0.98, FCEUX and ^GSPC 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, FCEUX or ^GSPC?

^GSPC has higher volatility (2.93%) compared to FCEUX (2.67%). In terms of maximum drawdown, FCEUX dropped -33.57% vs ^GSPC's -56.78%.

Which has better risk-adjusted returns?

FCEUX currently has the higher Sharpe Ratio (2.38 vs 2.24), 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.