FDGFX vs. FLCPX

Last updated Jul 17, 2026

FDGFX (Fidelity Dividend Growth Fund) and FLCPX (Fidelity SAI U.S. Large Cap Index Fund) are both Large Cap Blend Equities funds from Fidelity. Over the past 10 years, FDGFX returned 13.82%/yr vs 15.26%/yr for FLCPX. Their correlation of 0.91 suggests significant overlap in exposure. FDGFX charges 0.48%/yr vs 0.02%/yr for FLCPX.

Performance

FDGFX vs. FLCPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Dividend Growth Fund (FDGFX) and Fidelity SAI U.S. Large Cap Index Fund (FLCPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FDGFX achieves a 16.67% return, which is significantly higher than FLCPX's 11.31% return. Over the past 10 years, FDGFX has underperformed FLCPX with an annualized return of 13.82%, while FLCPX has yielded a comparatively higher 15.26% annualized return.

FDGFX

• 1D: 0.22%
• 1M: -0.85%
• 6M: 12.19%
• YTD: 16.67%
• 1Y: 30.73%
• 3Y*: 25.05%
• 5Y*: 15.84%
• 10Y*: 13.82%

FLCPX

• 1D: 0.40%
• 1M: 0.87%
• 6M: 9.66%
• YTD: 11.31%
• 1Y: 22.32%
• 3Y*: 20.50%
• 5Y*: 13.46%
• 10Y*: 15.26%

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

FDGFX vs. FLCPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FDGFX Fidelity Dividend Growth Fund	16.67%	22.48%	27.58%	17.86%	-11.61%	27.96%	2.20%	28.75%	-7.23%	18.05%
FLCPX Fidelity SAI U.S. Large Cap Index Fund	11.31%	17.84%	25.08%	26.25%	-18.06%	28.61%	18.24%	31.59%	-4.38%	21.74%

Correlation

The correlation between FDGFX and FLCPX is 0.93, 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	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (10Y) Calculated over the trailing 10-year period	0.91
Correlation (All Time) Calculated using the full available price history since Feb 12, 2016	0.91

The correlation between FDGFX and FLCPX has been stable across timeframes, ranging from 0.91 to 0.93 - a consistent structural relationship.

Return for Risk

FDGFX vs. FLCPX — Risk / Return Rank

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

FDGFX

FDGFX Risk / Return Rank: 82
FDGFX Sharpe Ratio Rank: 82
FDGFX Sortino Ratio Rank: 77
FDGFX Omega Ratio Rank: 77
FDGFX Calmar Ratio Rank: 83
FDGFX Martin Ratio Rank: 89

FLCPX

FLCPX Risk / Return Rank: 69
FLCPX Sharpe Ratio Rank: 68
FLCPX Sortino Ratio Rank: 63
FLCPX Omega Ratio Rank: 64
FLCPX Calmar Ratio Rank: 69
FLCPX Martin Ratio Rank: 80

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.

FDGFX vs. FLCPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Dividend Growth Fund (FDGFX) and Fidelity SAI U.S. Large Cap Index Fund (FLCPX). 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.

	FDGFX	FLCPX	Difference
Sharpe ratio: Return per unit of total volatility	2.13	1.83	+0.30
Sortino ratio: Return per unit of downside risk	2.84	2.50	+0.34
Omega ratio: Gain probability vs. loss probability	1.38	1.33	+0.05
Calmar ratio: Return relative to maximum drawdown	3.09	2.58	+0.51
Martin ratio: Return relative to average drawdown	13.23	11.29	+1.94

FDGFX vs. FLCPX - Sharpe Ratio Comparison

The current FDGFX Sharpe Ratio is 2.13, which is comparable to the FLCPX Sharpe Ratio of 1.83. The chart below compares the historical Sharpe Ratios of FDGFX and FLCPX, 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

FDGFX vs. FLCPX - Drawdown Comparison

The maximum FDGFX drawdown since its inception was -60.77%, which is greater than FLCPX's maximum drawdown of -33.87%. Use the drawdown chart below to compare losses from any high point for FDGFX and FLCPX.

Drawdown Indicators

	FDGFX	FLCPX	Difference
Max Drawdown Largest peak-to-trough decline	-60.77%	-33.87%	-26.90%
Max Drawdown (1Y) Largest decline over 1 year	-10.16%	-8.89%	-1.27%
Max Drawdown (3Y) Largest decline over 3 years	-21.37%	-18.76%	-2.61%
Max Drawdown (5Y) Largest decline over 5 years	-21.37%	-24.40%	+3.03%
Max Drawdown (10Y) Largest decline over 10 years	-41.29%	-33.87%	-7.42%
Current Drawdown Current decline from peak	-1.56%	-0.36%	-1.20%
Average Drawdown Average peak-to-trough decline	-7.50%	-4.16%	-3.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.37%	2.02%	+0.35%

Volatility

FDGFX vs. FLCPX - Volatility Comparison

Fidelity Dividend Growth Fund (FDGFX) has a higher volatility of 5.00% compared to Fidelity SAI U.S. Large Cap Index Fund (FLCPX) at 3.64%. This indicates that FDGFX's price experiences larger fluctuations and is considered to be riskier than FLCPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FDGFX	FLCPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.00%	3.64%	+1.36%
Volatility (6M) Calculated over the trailing 6-month period	12.05%	9.98%	+2.07%
Volatility (1Y) Calculated over the trailing 1-year period	14.79%	12.56%	+2.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.79%	17.17%	-0.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.25%	18.15%	+1.10%

FDGFX vs. FLCPX - Expense Ratio Comparison

FDGFX has a 0.48% expense ratio, which is higher than FLCPX's 0.02% expense ratio.

Dividends

FDGFX vs. FLCPX - Dividend Comparison

FDGFX's dividend yield for the trailing twelve months is around 8.34%, more than FLCPX's 0.50% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDGFX Fidelity Dividend Growth Fund	8.34%	9.35%	9.81%	3.48%	11.46%	7.81%	1.89%	4.84%	22.93%	15.35%	1.58%	8.44%
FLCPX Fidelity SAI U.S. Large Cap Index Fund	0.50%	0.56%	6.11%	7.05%	11.23%	10.38%	3.93%	1.74%	2.18%	1.57%	0.76%	0.00%

Frequently Asked Questions

Can I hold both FDGFX and FLCPX in my portfolio?

With a correlation of 0.93, FDGFX and FLCPX 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, FDGFX or FLCPX?

FDGFX has higher volatility (5.00%) compared to FLCPX (3.64%). In terms of maximum drawdown, FDGFX dropped -60.77% vs FLCPX's -33.87%.

Which has better risk-adjusted returns?

FDGFX currently has the higher Sharpe Ratio (2.13 vs 1.83), 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.