FECGX vs. VSGAX

Last updated Jun 23, 2026

FECGX (Fidelity Small Cap Growth Index Fund) and VSGAX (Vanguard Small-Cap Growth Index Fund Admiral Shares) are both Small Cap Growth Equities funds. Over the past 5 years, FECGX returned 6.33%/yr vs 5.57%/yr for VSGAX. With a 0.97 correlation, they move nearly in lockstep. FECGX charges 0.05%/yr vs 0.07%/yr for VSGAX.

Performance

FECGX vs. VSGAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Small Cap Growth Index Fund (FECGX) and Vanguard Small-Cap Growth Index Fund Admiral Shares (VSGAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FECGX achieves a 20.77% return, which is significantly higher than VSGAX's 18.37% return.

FECGX

• 1D: 2.56%
• 1M: 4.70%
• YTD: 20.77%
• 6M: 16.62%
• 1Y: 41.84%
• 3Y*: 18.51%
• 5Y*: 6.33%
• 10Y*: —

VSGAX

• 1D: 1.99%
• 1M: 2.79%
• YTD: 18.37%
• 6M: 14.66%
• 1Y: 32.89%
• 3Y*: 16.98%
• 5Y*: 5.57%
• 10Y*: 11.89%

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

FECGX vs. VSGAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FECGX Fidelity Small Cap Growth Index Fund	20.77%	13.04%	15.26%	18.90%	-26.17%	2.83%	34.41%	7.11%
VSGAX Vanguard Small-Cap Growth Index Fund Admiral Shares	18.37%	8.44%	14.94%	23.04%	-28.39%	5.70%	35.26%	5.52%

Correlation

The correlation between FECGX and VSGAX is 0.96 - 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	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (5Y) Calculated over the trailing 5-year period	0.98
Correlation (All Time) Calculated using the full available price history since Jul 17, 2019	0.97

The correlation between FECGX and VSGAX has been stable across timeframes, ranging from 0.96 to 0.98 - a consistent structural relationship.

Return for Risk

FECGX vs. VSGAX — Risk / Return Rank

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

FECGX

FECGX Risk / Return Rank: 49
FECGX Sharpe Ratio Rank: 49
FECGX Sortino Ratio Rank: 43
FECGX Omega Ratio Rank: 39
FECGX Calmar Ratio Rank: 59
FECGX Martin Ratio Rank: 53

VSGAX

VSGAX Risk / Return Rank: 44
VSGAX Sharpe Ratio Rank: 36
VSGAX Sortino Ratio Rank: 34
VSGAX Omega Ratio Rank: 32
VSGAX Calmar Ratio Rank: 62
VSGAX Martin Ratio Rank: 58

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.

FECGX vs. VSGAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Small Cap Growth Index Fund (FECGX) and Vanguard Small-Cap Growth Index Fund Admiral Shares (VSGAX). 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.

	FECGX	VSGAX	Difference
Sharpe ratio: Return per unit of total volatility	1.89	1.63	+0.26
Sortino ratio: Return per unit of downside risk	2.57	2.26	+0.31
Omega ratio: Gain probability vs. loss probability	1.31	1.28	+0.03
Calmar ratio: Return relative to maximum drawdown	2.82	2.90	-0.07
Martin ratio: Return relative to average drawdown	10.12	10.83	-0.72

FECGX vs. VSGAX - Sharpe Ratio Comparison

The current FECGX Sharpe Ratio is 1.89, which is comparable to the VSGAX Sharpe Ratio of 1.63. The chart below compares the historical Sharpe Ratios of FECGX and VSGAX, 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

FECGX vs. VSGAX - Drawdown Comparison

The maximum FECGX drawdown since its inception was -41.85%, which is greater than VSGAX's maximum drawdown of -38.70%. Use the drawdown chart below to compare losses from any high point for FECGX and VSGAX.

Drawdown Indicators

	FECGX	VSGAX	Difference
Max Drawdown Largest peak-to-trough decline	-41.85%	-38.70%	-3.15%
Max Drawdown (1Y) Largest decline over 1 year	-14.81%	-11.37%	-3.44%
Max Drawdown (3Y) Largest decline over 3 years	-28.45%	-27.47%	-0.98%
Max Drawdown (5Y) Largest decline over 5 years	-40.34%	-38.36%	-1.98%
Max Drawdown (10Y) Largest decline over 10 years	—	-38.70%	—
Current Drawdown Current decline from peak	0.00%	-0.31%	+0.31%
Average Drawdown Average peak-to-trough decline	-15.66%	-8.53%	-7.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.13%	3.04%	+1.09%

Volatility

FECGX vs. VSGAX - Volatility Comparison

Fidelity Small Cap Growth Index Fund (FECGX) has a higher volatility of 7.99% compared to Vanguard Small-Cap Growth Index Fund Admiral Shares (VSGAX) at 7.28%. This indicates that FECGX's price experiences larger fluctuations and is considered to be riskier than VSGAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FECGX	VSGAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.99%	7.28%	+0.71%
Volatility (6M) Calculated over the trailing 6-month period	16.84%	15.86%	+0.98%
Volatility (1Y) Calculated over the trailing 1-year period	22.17%	20.28%	+1.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.70%	23.70%	+1.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.22%	23.07%	+4.15%

FECGX vs. VSGAX - Expense Ratio Comparison

FECGX has a 0.05% expense ratio, which is lower than VSGAX's 0.07% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

FECGX vs. VSGAX - Dividend Comparison

FECGX's dividend yield for the trailing twelve months is around 0.45%, more than VSGAX's 0.44% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FECGX Fidelity Small Cap Growth Index Fund	0.45%	0.54%	1.25%	0.81%	0.80%	3.43%	1.00%	0.29%	0.00%	0.00%	0.00%	0.00%
VSGAX Vanguard Small-Cap Growth Index Fund Admiral Shares	0.44%	0.54%	0.54%	0.67%	0.55%	0.36%	0.44%	0.57%	0.79%	0.81%	1.08%	0.98%

Frequently Asked Questions

Can I hold both FECGX and VSGAX in my portfolio?

With a correlation of 0.96, FECGX and VSGAX 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, FECGX or VSGAX?

FECGX has higher volatility (7.99%) compared to VSGAX (7.28%). In terms of maximum drawdown, FECGX dropped -41.85% vs VSGAX's -38.70%.

Which has better risk-adjusted returns?

FECGX currently has the higher Sharpe Ratio (1.89 vs 1.63), 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.