FDFIX vs. TPLGX

Last updated Aug 1, 2026

FDFIX (Fidelity Flex 500 Index Fund) and TPLGX (T. Rowe Price Institutional Large Cap Core Growth Fund) are both mutual funds - FDFIX is a Large Cap Blend Equities fund tracking the Fidelity U.S. Large Cap Index, while TPLGX is a Large Cap Growth Equities fund managed by T. Rowe Price. Over the past 5 years, FDFIX returned 12.59%/yr vs 7.84%/yr for TPLGX. Their correlation of 0.89 means they have usually moved in the same direction. FDFIX charges 0.00%/yr vs 0.57%/yr for TPLGX.

Performance

FDFIX vs. TPLGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Flex 500 Index Fund (FDFIX) and T. Rowe Price Institutional Large Cap Core Growth Fund (TPLGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FDFIX achieves a 9.08% return, which is significantly higher than TPLGX's -3.11% return.

FDFIX

• 1D: 1.70%
• 1M: -0.67%
• 6M: 7.78%
• YTD: 9.08%
• 1Y: 20.10%
• 3Y*: 18.85%
• 5Y*: 12.59%
• 10Y*: —
• ALL TIME*: 14.73%

TPLGX

• 1D: 2.27%
• 1M: -2.38%
• 6M: -1.19%
• YTD: -3.11%
• 1Y: 5.16%
• 3Y*: 18.58%
• 5Y*: 7.84%
• 10Y*: 15.32%
• ALL TIME*: 11.63%

*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)
FDFIX Fidelity Flex 500 Index Fund	$0.00	$0.00	$0.00
TPLGX T. Rowe Price Institutional Large Cap Core Growth Fund	$0.00	$0.00	$0.00

FDFIX vs. TPLGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FDFIX Fidelity Flex 500 Index Fund	9.08%	17.59%	25.06%	26.27%	-18.10%	28.69%	18.46%	31.47%	-4.45%	14.41%
TPLGX T. Rowe Price Institutional Large Cap Core Growth Fund	-3.11%	18.66%	35.22%	49.63%	-38.49%	17.84%	34.70%	30.15%	2.18%	24.61%

Correlation

The correlation between FDFIX and TPLGX is 0.88, 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.	0.88
Correlation (3Y) Balances recent behavior with more history.	0.87
Correlation (5Y) Shows whether the relationship held over a longer period.	0.90
Correlation (All Time) Calculated using the full available price history since Mar 9, 2017	0.89

The correlation between FDFIX and TPLGX has been stable across timeframes, ranging from 0.87 to 0.90 - a consistent structural relationship.

Return for Risk

FDFIX vs. TPLGX — Risk / Return Rank

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

FDFIX

FDFIX Risk / Return Rank: 59
FDFIX Sharpe Ratio Rank: 56
FDFIX Sortino Ratio Rank: 53
FDFIX Omega Ratio Rank: 54
FDFIX Calmar Ratio Rank: 61
FDFIX Martin Ratio Rank: 70

TPLGX

TPLGX Risk / Return Rank: 8
TPLGX Sharpe Ratio Rank: 8
TPLGX Sortino Ratio Rank: 8
TPLGX Omega Ratio Rank: 8
TPLGX Calmar Ratio Rank: 7
TPLGX Martin Ratio Rank: 8

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.

FDFIX vs. TPLGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Flex 500 Index Fund (FDFIX) and T. Rowe Price Institutional Large Cap Core Growth Fund (TPLGX). 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.

	FDFIX	TPLGX	Difference
Sharpe ratio: Return per unit of total volatility	1.38	0.21	+1.17
Sortino ratio: Return per unit of downside risk	1.93	0.41	+1.51
Omega ratio: Gain probability vs. loss probability	1.25	1.05	+0.20
Calmar ratio: Return relative to maximum drawdown	1.99	0.22	+1.78
Martin ratio: Return relative to average drawdown	8.36	0.64	+7.71

FDFIX vs. TPLGX - Sharpe Ratio Comparison

The current FDFIX Sharpe Ratio is 1.38, which is higher than the TPLGX Sharpe Ratio of 0.21. The chart below compares the historical Sharpe Ratios of FDFIX and TPLGX, 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

FDFIX vs. TPLGX - Drawdown Comparison

The maximum FDFIX drawdown since its inception was -33.77%, smaller than the maximum TPLGX drawdown of -54.57%. Use the drawdown chart below to compare losses from any high point for FDFIX and TPLGX.

Drawdown Indicators

	FDFIX	TPLGX	Difference
Max Drawdown Largest peak-to-trough decline	-33.77%	-54.57%	+20.80%
Max Drawdown (1Y) Largest decline over 1 year	-8.99%	-17.15%	+8.16%
Max Drawdown (3Y) Largest decline over 3 years	-18.76%	-28.23%	+9.47%
Max Drawdown (5Y) Largest decline over 5 years	-24.51%	-43.45%	+18.94%
Max Drawdown (10Y) Largest decline over 10 years	—	-43.45%	—
Current Drawdown Current decline from peak	-2.20%	-8.78%	+6.58%
Average Drawdown Average peak-to-trough decline	-4.53%	-8.65%	+4.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.14%	5.73%	-3.59%

Volatility

FDFIX vs. TPLGX - Volatility Comparison

The current volatility for Fidelity Flex 500 Index Fund (FDFIX) is 3.50%, while T. Rowe Price Institutional Large Cap Core Growth Fund (TPLGX) has a volatility of 5.88%. This indicates that FDFIX experiences smaller price fluctuations and is considered to be less risky than TPLGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FDFIX	TPLGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.50%	5.88%	-2.38%
Volatility (6M) Calculated over the trailing 6-month period	10.20%	14.22%	-4.02%
Volatility (1Y) Calculated over the trailing 1-year period	13.02%	17.59%	-4.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.07%	24.54%	-7.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.53%	22.99%	-4.46%

FDFIX vs. TPLGX - Expense Ratio Comparison

FDFIX has a 0.00% expense ratio, which is lower than TPLGX's 0.57% expense ratio.

Dividends

FDFIX vs. TPLGX - Dividend Comparison

FDFIX's dividend yield for the trailing twelve months is around 1.07%, less than TPLGX's 20.95% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDFIX Fidelity Flex 500 Index Fund	1.07%	1.11%	1.26%	1.48%	1.70%	1.27%	1.52%	1.78%	2.16%	0.50%	0.00%	0.00%
TPLGX T. Rowe Price Institutional Large Cap Core Growth Fund	20.95%	20.30%	12.87%	3.70%	4.39%	8.81%	0.59%	0.60%	1.65%	1.39%	0.25%	0.44%

Frequently Asked Questions

Can I hold both FDFIX and TPLGX in my portfolio?

FDFIX and TPLGX have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FDFIX or TPLGX?

TPLGX has higher volatility (5.88%) compared to FDFIX (3.50%). In terms of maximum drawdown, FDFIX dropped -33.77% vs TPLGX's -54.57%.

Which has better risk-adjusted returns?

FDFIX currently has the higher Sharpe Ratio (1.38 vs 0.21), 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.