FELG vs. FBGRX

Last updated Jun 17, 2026

FELG (Fidelity Enhanced Large Cap Growth ETF) and FBGRX (Fidelity Blue Chip Growth Fund) are both Large Cap Growth Equities funds from Fidelity. Over the past year, FELG returned 22.50% vs 43.45% for FBGRX. With a 0.96 correlation, they move nearly in lockstep. FELG charges 0.18%/yr vs 0.79%/yr for FBGRX.

Performance

FELG vs. FBGRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Enhanced Large Cap Growth ETF (FELG) and Fidelity Blue Chip Growth Fund (FBGRX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FELG achieves a 4.94% return, which is significantly lower than FBGRX's 19.46% return.

FELG

• 1D: -0.75%
• 1M: -0.88%
• YTD: 4.94%
• 6M: 5.98%
• 1Y: 22.50%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FBGRX

• 1D: 3.99%
• 1M: 5.72%
• YTD: 19.46%
• 6M: 21.34%
• 1Y: 43.45%
• 3Y*: 31.39%
• 5Y*: 16.51%
• 10Y*: 22.37%

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

FELG vs. FBGRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FELG Fidelity Enhanced Large Cap Growth ETF	4.94%	18.44%	35.45%	4.37%
FBGRX Fidelity Blue Chip Growth Fund	19.46%	19.91%	39.77%	6.66%

Correlation

The correlation between FELG and FBGRX is 0.95 - 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	0.95
Correlation (All Time) Calculated using the full available price history since Nov 20, 2023	0.96

The correlation between FELG and FBGRX has been stable across timeframes, ranging from 0.95 to 0.96 - a consistent structural relationship.

Return for Risk

FELG vs. FBGRX — Risk / Return Rank

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

FELG

FELG Risk / Return Rank: 36
FELG Sharpe Ratio Rank: 40
FELG Sortino Ratio Rank: 38
FELG Omega Ratio Rank: 38
FELG Calmar Ratio Rank: 29
FELG Martin Ratio Rank: 33

FBGRX

FBGRX Risk / Return Rank: 82
FBGRX Sharpe Ratio Rank: 86
FBGRX Sortino Ratio Rank: 77
FBGRX Omega Ratio Rank: 76
FBGRX Calmar Ratio Rank: 85
FBGRX Martin Ratio Rank: 88

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.

FELG vs. FBGRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Enhanced Large Cap Growth ETF (FELG) and Fidelity Blue Chip Growth Fund (FBGRX). 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.

	FELG	FBGRX	Difference
Sharpe ratio: Return per unit of total volatility	1.40	2.47	-1.07
Sortino ratio: Return per unit of downside risk	1.94	3.17	-1.22
Omega ratio: Gain probability vs. loss probability	1.25	1.42	-0.17
Calmar ratio: Return relative to maximum drawdown	1.40	3.63	-2.23
Martin ratio: Return relative to average drawdown	4.70	15.02	-10.32

FELG vs. FBGRX - Sharpe Ratio Comparison

The current FELG Sharpe Ratio is 1.40, which is lower than the FBGRX Sharpe Ratio of 2.47. The chart below compares the historical Sharpe Ratios of FELG and FBGRX, 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

FELG vs. FBGRX - Drawdown Comparison

The maximum FELG drawdown since its inception was -23.89%, smaller than the maximum FBGRX drawdown of -58.64%. Use the drawdown chart below to compare losses from any high point for FELG and FBGRX.

Drawdown Indicators

	FELG	FBGRX	Difference
Max Drawdown Largest peak-to-trough decline	-23.89%	-58.64%	+34.75%
Max Drawdown (1Y) Largest decline over 1 year	-16.17%	-12.65%	-3.52%
Max Drawdown (3Y) Largest decline over 3 years	—	-27.07%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-43.08%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-43.08%	—
Current Drawdown Current decline from peak	-3.87%	0.00%	-3.87%
Average Drawdown Average peak-to-trough decline	-3.53%	-12.52%	+8.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.80%	3.05%	+1.75%

Volatility

FELG vs. FBGRX - Volatility Comparison

The current volatility for Fidelity Enhanced Large Cap Growth ETF (FELG) is 5.74%, while Fidelity Blue Chip Growth Fund (FBGRX) has a volatility of 7.75%. This indicates that FELG experiences smaller price fluctuations and is considered to be less risky than FBGRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FELG	FBGRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.74%	7.75%	-2.01%
Volatility (6M) Calculated over the trailing 6-month period	12.56%	14.67%	-2.11%
Volatility (1Y) Calculated over the trailing 1-year period	16.15%	18.64%	-2.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.99%	25.05%	-5.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.99%	23.78%	-3.79%

FELG vs. FBGRX - Expense Ratio Comparison

FELG has a 0.18% expense ratio, which is lower than FBGRX's 0.79% expense ratio.

Dividends

FELG vs. FBGRX - Dividend Comparison

FELG's dividend yield for the trailing twelve months is around 0.35%, less than FBGRX's 1.59% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FBGRX Fidelity Blue Chip Growth Fund	1.59%	1.90%	5.95%	0.93%	0.57%	8.73%	6.40%	3.70%	6.32%	4.23%	4.05%	5.30%
FELG Fidelity Enhanced Large Cap Growth ETF	0.35%	0.38%	0.44%	0.11%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FELG and FBGRX in my portfolio?

With a correlation of 0.95, FELG and FBGRX 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, FELG or FBGRX?

FBGRX has higher volatility (7.75%) compared to FELG (5.74%). In terms of maximum drawdown, FELG dropped -23.89% vs FBGRX's -58.64%.

Which has better risk-adjusted returns?

FBGRX currently has the higher Sharpe Ratio (2.47 vs 1.40), 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.