FEQHX vs. GTLOX

Last updated Jun 5, 2026

FEQHX (Fidelity Hedged Equity Fund) and GTLOX (Glenmede Quantitative U.S. Large Cap Core Equity Portfolio) are both Large Cap Blend Equities funds. Over the past 3 years, FEQHX returned 17.55%/yr vs 21.03%/yr for GTLOX. Their correlation of 0.85 suggests significant overlap in exposure. FEQHX charges 0.55%/yr vs 0.85%/yr for GTLOX.

Performance

FEQHX vs. GTLOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Hedged Equity Fund (FEQHX) and Glenmede Quantitative U.S. Large Cap Core Equity Portfolio (GTLOX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FEQHX achieves a 9.27% return, which is significantly lower than GTLOX's 22.30% return.

FEQHX

• 1D: -0.67%
• 1M: 3.76%
• YTD: 9.27%
• 6M: 8.72%
• 1Y: 21.47%
• 3Y*: 17.55%
• 5Y*: —
• 10Y*: —

GTLOX

• 1D: -0.12%
• 1M: 7.64%
• YTD: 22.30%
• 6M: 24.43%
• 1Y: 41.73%
• 3Y*: 21.03%
• 5Y*: 11.00%
• 10Y*: 12.69%

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

FEQHX vs. GTLOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FEQHX Fidelity Hedged Equity Fund	9.27%	13.61%	19.46%	17.65%	-4.85%
GTLOX Glenmede Quantitative U.S. Large Cap Core Equity Portfolio	22.30%	14.39%	13.86%	16.66%	-0.73%

Correlation

The correlation between FEQHX and GTLOX is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (All Time) Calculated using the full available price history since Sep 9, 2022	0.85

The correlation between FEQHX and GTLOX has been stable across timeframes, ranging from 0.79 to 0.85 - a consistent structural relationship.

Return for Risk

FEQHX vs. GTLOX — Risk / Return Rank

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

FEQHX

FEQHX Risk / Return Rank: 61
FEQHX Sharpe Ratio Rank: 65
FEQHX Sortino Ratio Rank: 64
FEQHX Omega Ratio Rank: 59
FEQHX Calmar Ratio Rank: 58
FEQHX Martin Ratio Rank: 59

GTLOX

GTLOX Risk / Return Rank: 90
GTLOX Sharpe Ratio Rank: 91
GTLOX Sortino Ratio Rank: 86
GTLOX Omega Ratio Rank: 80
GTLOX Calmar Ratio Rank: 95
GTLOX Martin Ratio Rank: 96

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.

FEQHX vs. GTLOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Hedged Equity Fund (FEQHX) and Glenmede Quantitative U.S. Large Cap Core Equity Portfolio (GTLOX). 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.

	FEQHX	GTLOX	Difference
Sharpe ratio: Return per unit of total volatility	2.35	3.06	-0.71
Sortino ratio: Return per unit of downside risk	3.33	4.18	-0.85
Omega ratio: Gain probability vs. loss probability	1.42	1.53	-0.11
Calmar ratio: Return relative to maximum drawdown	2.91	5.68	-2.77
Martin ratio: Return relative to average drawdown	11.62	24.44	-12.82
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FEQHX vs. GTLOX - Sharpe Ratio Comparison

The current FEQHX Sharpe Ratio is 2.35, which is comparable to the GTLOX Sharpe Ratio of 3.06. The chart below compares the historical Sharpe Ratios of FEQHX and GTLOX, 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

	FEQHX	GTLOX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.35	3.06	-0.71
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.51	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.61	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.30	0.50	+0.80

Drawdowns

FEQHX vs. GTLOX - Drawdown Comparison

The maximum FEQHX drawdown since its inception was -10.42%, smaller than the maximum GTLOX drawdown of -54.09%. Use the drawdown chart below to compare losses from any high point for FEQHX and GTLOX.

Drawdown Indicators

	FEQHX	GTLOX	Difference
Max Drawdown Largest peak-to-trough decline	-10.42%	-54.09%	+43.67%
Max Drawdown (1Y) Largest decline over 1 year	-7.40%	-7.47%	+0.07%
Max Drawdown (3Y) Largest decline over 3 years	-10.42%	-32.85%	+22.43%
Max Drawdown (5Y) Largest decline over 5 years	—	-32.85%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-38.15%	—
Current Drawdown Current decline from peak	-0.67%	-0.12%	-0.55%
Average Drawdown Average peak-to-trough decline	-2.22%	-8.33%	+6.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.85%	1.73%	+0.12%

Volatility

FEQHX vs. GTLOX - Volatility Comparison

The current volatility for Fidelity Hedged Equity Fund (FEQHX) is 2.76%, while Glenmede Quantitative U.S. Large Cap Core Equity Portfolio (GTLOX) has a volatility of 4.27%. This indicates that FEQHX experiences smaller price fluctuations and is considered to be less risky than GTLOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FEQHX	GTLOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.76%	4.27%	-1.51%
Volatility (6M) Calculated over the trailing 6-month period	6.65%	10.35%	-3.70%
Volatility (1Y) Calculated over the trailing 1-year period	9.18%	13.88%	-4.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.24%	21.86%	-10.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.24%	20.91%	-9.67%

FEQHX vs. GTLOX - Expense Ratio Comparison

FEQHX has a 0.55% expense ratio, which is lower than GTLOX's 0.85% expense ratio.

Dividends

FEQHX vs. GTLOX - Dividend Comparison

FEQHX's dividend yield for the trailing twelve months is around 0.51%, less than GTLOX's 14.64% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FEQHX Fidelity Hedged Equity Fund	0.51%	0.43%	0.61%	0.77%	0.37%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
GTLOX Glenmede Quantitative U.S. Large Cap Core Equity Portfolio	14.64%	17.84%	25.96%	8.32%	23.58%	13.35%	9.06%	5.35%	10.53%	4.99%	1.08%	2.09%

Frequently Asked Questions

Can I hold both FEQHX and GTLOX in my portfolio?

FEQHX and GTLOX have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FEQHX or GTLOX?

GTLOX has higher volatility (4.27%) compared to FEQHX (2.76%). In terms of maximum drawdown, FEQHX dropped -10.42% vs GTLOX's -54.09%.

Which has better risk-adjusted returns?

GTLOX currently has the higher Sharpe Ratio (3.06 vs 2.35), 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.