FGKFX vs. FXAIX

Last updated Aug 1, 2026

FGKFX (Fidelity Growth Company K6 Fund) and FXAIX (Fidelity 500 Index Fund) are both mutual funds - FGKFX is a Large Cap Growth Equities fund actively managed by Fidelity, while FXAIX is a S&P 500 fund tracking the S&P 500 Index. FGKFX is actively managed, while FXAIX is passively managed. Over the past 5 years, FGKFX returned 14.61%/yr vs 12.68%/yr for FXAIX. Their correlation of 0.89 means they have usually moved in the same direction. FGKFX charges 0.45%/yr vs 0.02%/yr for FXAIX.

Performance

FGKFX vs. FXAIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Growth Company K6 Fund (FGKFX) and Fidelity 500 Index Fund (FXAIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FGKFX achieves a 15.92% return, which is significantly higher than FXAIX's 9.35% return.

FGKFX

• 1D: 3.03%
• 1M: -4.41%
• 6M: 12.69%
• YTD: 15.92%
• 1Y: 30.68%
• 3Y*: 26.36%
• 5Y*: 14.61%
• 10Y*: —
• ALL TIME*: 23.32%

FXAIX

• 1D: 1.66%
• 1M: -0.56%
• 6M: 7.79%
• YTD: 9.35%
• 1Y: 20.63%
• 3Y*: 19.03%
• 5Y*: 12.68%
• 10Y*: 15.00%
• ALL TIME*: 13.89%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FGKFX Fidelity Growth Company K6 Fund	$0.00	$0.00	$0.00
FXAIX Fidelity 500 Index Fund	$0.00	$0.00	$0.00

FGKFX vs. FXAIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FGKFX Fidelity Growth Company K6 Fund	15.92%	21.67%	35.46%	46.02%	-32.62%	22.06%	68.76%	15.07%
FXAIX Fidelity 500 Index Fund	9.35%	17.84%	25.01%	26.29%	-18.14%	28.71%	18.42%	13.39%

Correlation

The correlation between FGKFX and FXAIX is 0.90, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.90
Correlation (3Y) Balances recent behavior with more history.	0.90
Correlation (5Y) Shows whether the relationship held over a longer period.	0.92
Correlation (All Time) Calculated using the full available price history since Jun 13, 2019	0.89

The correlation between FGKFX and FXAIX has been stable across timeframes, ranging from 0.89 to 0.92 - a consistent structural relationship.

Return for Risk

FGKFX vs. FXAIX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FGKFX

FGKFX Risk / Return Rank: 61
FGKFX Sharpe Ratio Rank: 56
FGKFX Sortino Ratio Rank: 51
FGKFX Omega Ratio Rank: 49
FGKFX Calmar Ratio Rank: 78
FGKFX Martin Ratio Rank: 73

FXAIX

FXAIX Risk / Return Rank: 64
FXAIX Sharpe Ratio Rank: 61
FXAIX Sortino Ratio Rank: 58
FXAIX Omega Ratio Rank: 59
FXAIX Calmar Ratio Rank: 65
FXAIX Martin Ratio Rank: 76

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FGKFX vs. FXAIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Growth Company K6 Fund (FGKFX) and Fidelity 500 Index Fund (FXAIX). 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.

	FGKFX	FXAIX	Difference
Sharpe ratio: Return per unit of total volatility	1.37	1.43	-0.06
Sortino ratio: Return per unit of downside risk	1.88	2.00	-0.12
Omega ratio: Gain probability vs. loss probability	1.24	1.26	-0.02
Calmar ratio: Return relative to maximum drawdown	2.51	2.06	+0.45
Martin ratio: Return relative to average drawdown	8.60	8.86	-0.26

FGKFX vs. FXAIX - Sharpe Ratio Comparison

The current FGKFX Sharpe Ratio is 1.37, which is comparable to the FXAIX Sharpe Ratio of 1.43. The chart below compares the historical Sharpe Ratios of FGKFX and FXAIX, 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

FGKFX vs. FXAIX - Drawdown Comparison

The maximum FGKFX drawdown since its inception was -40.14%, which is greater than FXAIX's maximum drawdown of -33.79%. Use the drawdown chart below to compare losses from any high point for FGKFX and FXAIX.

Drawdown Indicators

	FGKFX	FXAIX	Difference
Max Drawdown Largest peak-to-trough decline	-40.14%	-33.79%	-6.35%
Max Drawdown (1Y) Largest decline over 1 year	-11.40%	-8.89%	-2.51%
Max Drawdown (3Y) Largest decline over 3 years	-27.38%	-18.76%	-8.62%
Max Drawdown (5Y) Largest decline over 5 years	-40.14%	-24.50%	-15.64%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.79%	—
Current Drawdown Current decline from peak	-7.20%	-2.11%	-5.09%
Average Drawdown Average peak-to-trough decline	-9.87%	-3.77%	-6.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.32%	2.07%	+1.25%

Volatility

FGKFX vs. FXAIX - Volatility Comparison

Fidelity Growth Company K6 Fund (FGKFX) has a higher volatility of 6.46% compared to Fidelity 500 Index Fund (FXAIX) at 3.44%. This indicates that FGKFX's price experiences larger fluctuations and is considered to be riskier than FXAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FGKFX	FXAIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.46%	3.44%	+3.02%
Volatility (6M) Calculated over the trailing 6-month period	16.18%	10.09%	+6.09%
Volatility (1Y) Calculated over the trailing 1-year period	20.89%	12.86%	+8.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.49%	17.03%	+7.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.75%	18.07%	+7.68%

FGKFX vs. FXAIX - Expense Ratio Comparison

FGKFX has a 0.45% expense ratio, which is higher than FXAIX's 0.02% expense ratio.

Dividends

FGKFX vs. FXAIX - Dividend Comparison

FGKFX has not paid dividends to shareholders, while FXAIX's dividend yield for the trailing twelve months is around 1.07%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%	0.00%
FXAIX Fidelity 500 Index Fund	1.07%	1.11%	1.25%	1.45%	1.69%	1.22%	1.60%	2.06%	2.72%	1.97%	2.52%	2.83%

Frequently Asked Questions

Can I hold both FGKFX and FXAIX in my portfolio?

With a correlation of 0.90, FGKFX and FXAIX 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, FGKFX or FXAIX?

FGKFX has higher volatility (6.46%) compared to FXAIX (3.44%). In terms of maximum drawdown, FGKFX dropped -40.14% vs FXAIX's -33.79%.

Which has better risk-adjusted returns?

FXAIX currently has the higher Sharpe Ratio (1.43 vs 1.37), 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.