FDMO vs. FGKFX

Last updated Jun 4, 2026

FDMO (Fidelity Momentum Factor ETF) and FGKFX (Fidelity Growth Company K6 Fund) are both funds - FDMO is a Momentum fund tracking the Fidelity U.S. Momentum Factor Index, while FGKFX is a Large Cap Growth Equities fund managed by Fidelity. Over the past 5 years, FDMO returned 16.35%/yr vs 18.14%/yr for FGKFX. Their correlation of 0.91 suggests significant overlap in exposure. FDMO charges 0.29%/yr vs 0.45%/yr for FGKFX.

Performance

FDMO vs. FGKFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Momentum Factor ETF (FDMO) and Fidelity Growth Company K6 Fund (FGKFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FDMO achieves a 15.24% return, which is significantly lower than FGKFX's 24.68% return.

FDMO

• 1D: -0.32%
• 1M: 7.12%
• YTD: 15.24%
• 6M: 14.87%
• 1Y: 32.96%
• 3Y*: 28.59%
• 5Y*: 16.35%
• 10Y*: —

FGKFX

• 1D: 0.15%
• 1M: 8.90%
• YTD: 24.68%
• 6M: 21.97%
• 1Y: 52.34%
• 3Y*: 32.84%
• 5Y*: 18.14%
• 10Y*: —

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

FDMO vs. FGKFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FDMO Fidelity Momentum Factor ETF	15.24%	21.43%	32.78%	24.79%	-19.32%	22.23%	21.71%	4.88%
FGKFX Fidelity Growth Company K6 Fund	24.68%	21.67%	35.46%	46.02%	-32.62%	22.06%	68.76%	15.07%

Correlation

The correlation between FDMO and FGKFX is 0.90, 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	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (All Time) Calculated using the full available price history since Jun 14, 2019	0.91

The correlation between FDMO and FGKFX has been stable across timeframes, ranging from 0.90 to 0.91 - a consistent structural relationship.

Return for Risk

FDMO vs. FGKFX — Risk / Return Rank

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

FDMO

FDMO Risk / Return Rank: 57
FDMO Sharpe Ratio Rank: 58
FDMO Sortino Ratio Rank: 56
FDMO Omega Ratio Rank: 56
FDMO Calmar Ratio Rank: 54
FDMO Martin Ratio Rank: 60

FGKFX

FGKFX Risk / Return Rank: 84
FGKFX Sharpe Ratio Rank: 89
FGKFX Sortino Ratio Rank: 74
FGKFX Omega Ratio Rank: 73
FGKFX Calmar Ratio Rank: 91
FGKFX Martin Ratio Rank: 92

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.

FDMO vs. FGKFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Momentum Factor ETF (FDMO) and Fidelity Growth Company K6 Fund (FGKFX). 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.

	FDMO	FGKFX	Difference
Sharpe ratio: Return per unit of total volatility	2.01	2.93	-0.92
Sortino ratio: Return per unit of downside risk	2.74	3.58	-0.85
Omega ratio: Gain probability vs. loss probability	1.35	1.48	-0.13
Calmar ratio: Return relative to maximum drawdown	2.71	4.78	-2.07
Martin ratio: Return relative to average drawdown	10.79	19.19	-8.40
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FDMO vs. FGKFX - Sharpe Ratio Comparison

The current FDMO Sharpe Ratio is 2.01, which is lower than the FGKFX Sharpe Ratio of 2.93. The chart below compares the historical Sharpe Ratios of FDMO and FGKFX, 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

	FDMO	FGKFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.01	2.93	-0.92
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.87	0.76	+0.11
Sharpe Ratio (All Time) Calculated using the full available price history	0.82	0.98	-0.16

Drawdowns

FDMO vs. FGKFX - Drawdown Comparison

The maximum FDMO drawdown since its inception was -33.94%, smaller than the maximum FGKFX drawdown of -40.14%. Use the drawdown chart below to compare losses from any high point for FDMO and FGKFX.

Drawdown Indicators

	FDMO	FGKFX	Difference
Max Drawdown Largest peak-to-trough decline	-33.94%	-40.14%	+6.20%
Max Drawdown (1Y) Largest decline over 1 year	-12.22%	-11.40%	-0.82%
Max Drawdown (3Y) Largest decline over 3 years	-21.88%	-27.38%	+5.50%
Max Drawdown (5Y) Largest decline over 5 years	-25.44%	-40.14%	+14.70%
Current Drawdown Current decline from peak	-0.32%	0.00%	-0.32%
Average Drawdown Average peak-to-trough decline	-5.42%	-10.02%	+4.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.06%	2.83%	+0.23%

Volatility

FDMO vs. FGKFX - Volatility Comparison

Fidelity Momentum Factor ETF (FDMO) has a higher volatility of 4.82% compared to Fidelity Growth Company K6 Fund (FGKFX) at 4.46%. This indicates that FDMO's price experiences larger fluctuations and is considered to be riskier than FGKFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FDMO	FGKFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.82%	4.46%	+0.36%
Volatility (6M) Calculated over the trailing 6-month period	13.11%	14.29%	-1.18%
Volatility (1Y) Calculated over the trailing 1-year period	16.50%	18.60%	-2.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.00%	24.14%	-5.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.51%	25.74%	-6.23%

FDMO vs. FGKFX - Expense Ratio Comparison

FDMO has a 0.29% expense ratio, which is lower than FGKFX's 0.45% expense ratio.

Dividends

FDMO vs. FGKFX - Dividend Comparison

FDMO's dividend yield for the trailing twelve months is around 0.56%, while FGKFX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FDMO Fidelity Momentum Factor ETF	0.56%	0.61%	0.90%	0.87%	1.19%	0.60%	0.77%	1.23%	1.22%	1.09%	0.45%
FGKFX Fidelity Growth Company K6 Fund	0.00%	0.00%	0.00%	0.10%	0.18%	2.64%	0.93%	0.06%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FDMO and FGKFX in my portfolio?

FDMO and FGKFX have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FDMO or FGKFX?

FDMO has higher volatility (4.82%) compared to FGKFX (4.46%). In terms of maximum drawdown, FDMO dropped -33.94% vs FGKFX's -40.14%.

Which has better risk-adjusted returns?

FGKFX currently has the higher Sharpe Ratio (2.93 vs 2.01), 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.