FGKFX vs. FZROX

Last updated Jun 4, 2026

FGKFX (Fidelity Growth Company K6 Fund) and FZROX (Fidelity ZERO Total Market Index Fund) are both mutual funds - FGKFX is a Large Cap Growth Equities fund managed by Fidelity, while FZROX is a Large Cap Blend Equities fund managed by Fidelity. Over the past 5 years, FGKFX returned 18.14%/yr vs 13.30%/yr for FZROX. Their correlation of 0.89 suggests significant overlap in exposure. FGKFX charges 0.45%/yr vs 0.00%/yr for FZROX.

Performance

FGKFX vs. FZROX - Performance Comparison

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

Returns By Period

In the year-to-date period, FGKFX achieves a 24.68% return, which is significantly higher than FZROX's 12.01% return.

FGKFX

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

FZROX

• 1D: 0.23%
• 1M: 5.79%
• YTD: 12.01%
• 6M: 11.92%
• 1Y: 29.16%
• 3Y*: 22.49%
• 5Y*: 13.30%
• 10Y*: —

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

FGKFX vs. FZROX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FGKFX Fidelity Growth Company K6 Fund	24.68%	21.67%	35.46%	46.02%	-32.62%	22.06%	68.76%	15.07%
FZROX Fidelity ZERO Total Market Index Fund	12.01%	17.23%	23.94%	26.20%	-19.21%	26.00%	20.51%	12.45%

Correlation

The correlation between FGKFX and FZROX is 0.88, 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	0.88
Correlation (3Y) Calculated over the trailing 3-year period	0.89
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	0.89

The correlation between FGKFX and FZROX has been stable across timeframes, ranging from 0.88 to 0.91 - a consistent structural relationship.

Return for Risk

FGKFX vs. FZROX — Risk / Return Rank

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

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

FZROX

FZROX Risk / Return Rank: 72
FZROX Sharpe Ratio Rank: 72
FZROX Sortino Ratio Rank: 65
FZROX Omega Ratio Rank: 63
FZROX Calmar Ratio Rank: 75
FZROX Martin Ratio Rank: 83

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.

FGKFX vs. FZROX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Growth Company K6 Fund (FGKFX) and Fidelity ZERO Total Market Index Fund (FZROX). 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.

	FGKFX	FZROX	Difference
Sharpe ratio: Return per unit of total volatility	2.93	2.47	+0.46
Sortino ratio: Return per unit of downside risk	3.58	3.36	+0.22
Omega ratio: Gain probability vs. loss probability	1.48	1.45	+0.04
Calmar ratio: Return relative to maximum drawdown	4.78	3.39	+1.39
Martin ratio: Return relative to average drawdown	19.19	15.66	+3.53
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FGKFX vs. FZROX - Sharpe Ratio Comparison

The current FGKFX Sharpe Ratio is 2.93, which is comparable to the FZROX Sharpe Ratio of 2.47. The chart below compares the historical Sharpe Ratios of FGKFX and FZROX, 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

	FGKFX	FZROX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.93	2.47	+0.46
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.76	0.77	-0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.98	0.73	+0.26

Drawdowns

FGKFX vs. FZROX - Drawdown Comparison

The maximum FGKFX drawdown since its inception was -40.14%, which is greater than FZROX's maximum drawdown of -34.96%. Use the drawdown chart below to compare losses from any high point for FGKFX and FZROX.

Drawdown Indicators

	FGKFX	FZROX	Difference
Max Drawdown Largest peak-to-trough decline	-40.14%	-34.96%	-5.18%
Max Drawdown (1Y) Largest decline over 1 year	-11.40%	-8.89%	-2.51%
Max Drawdown (3Y) Largest decline over 3 years	-27.38%	-19.38%	-8.00%
Max Drawdown (5Y) Largest decline over 5 years	-40.14%	-25.12%	-15.02%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-10.02%	-5.51%	-4.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.83%	1.92%	+0.91%

Volatility

FGKFX vs. FZROX - Volatility Comparison

Fidelity Growth Company K6 Fund (FGKFX) has a higher volatility of 4.46% compared to Fidelity ZERO Total Market Index Fund (FZROX) at 2.99%. This indicates that FGKFX's price experiences larger fluctuations and is considered to be riskier than FZROX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FGKFX	FZROX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.46%	2.99%	+1.47%
Volatility (6M) Calculated over the trailing 6-month period	14.29%	9.22%	+5.07%
Volatility (1Y) Calculated over the trailing 1-year period	18.60%	12.22%	+6.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.14%	17.44%	+6.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.74%	20.13%	+5.61%

FGKFX vs. FZROX - Expense Ratio Comparison

FGKFX has a 0.45% expense ratio, which is higher than FZROX's 0.00% expense ratio.

Dividends

FGKFX vs. FZROX - Dividend Comparison

FGKFX has not paid dividends to shareholders, while FZROX's dividend yield for the trailing twelve months is around 0.91%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
FGKFX Fidelity Growth Company K6 Fund	0.00%	0.00%	0.00%	0.10%	0.18%	2.64%	0.93%	0.06%
FZROX Fidelity ZERO Total Market Index Fund	0.91%	1.02%	1.16%	1.36%	1.57%	1.25%	1.27%	1.51%

Frequently Asked Questions

Can I hold both FGKFX and FZROX in my portfolio?

FGKFX and FZROX have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FGKFX or FZROX?

FGKFX has higher volatility (4.46%) compared to FZROX (2.99%). In terms of maximum drawdown, FGKFX dropped -40.14% vs FZROX's -34.96%.

Which has better risk-adjusted returns?

FGKFX currently has the higher Sharpe Ratio (2.93 vs 2.47), 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.