FGOMX vs. FLCPX

Last updated Jun 23, 2026

FGOMX (Strategic Advisers Fidelity Emerging Markets Fund) and FLCPX (Fidelity SAI U.S. Large Cap Index Fund) are both mutual funds - FGOMX is a Emerging Markets Diversified fund managed by Fidelity, while FLCPX is a Large Cap Blend Equities fund managed by Fidelity. Over the past 5 years, FGOMX returned 9.47%/yr vs 14.11%/yr for FLCPX. A 0.65 correlation means they provide meaningful diversification when combined. FGOMX charges 0.25%/yr vs 0.02%/yr for FLCPX.

Performance

FGOMX vs. FLCPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Strategic Advisers Fidelity Emerging Markets Fund (FGOMX) and Fidelity SAI U.S. Large Cap Index Fund (FLCPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FGOMX achieves a 32.79% return, which is significantly higher than FLCPX's 10.21% return.

FGOMX

• 1D: 3.12%
• 1M: 6.77%
• YTD: 32.79%
• 6M: 34.82%
• 1Y: 59.40%
• 3Y*: 25.08%
• 5Y*: 9.47%
• 10Y*: —

FLCPX

• 1D: 1.11%
• 1M: 0.47%
• YTD: 10.21%
• 6M: 9.69%
• 1Y: 27.18%
• 3Y*: 21.00%
• 5Y*: 14.11%
• 10Y*: 15.58%

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

FGOMX vs. FLCPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FGOMX Strategic Advisers Fidelity Emerging Markets Fund	32.79%	34.20%	7.88%	12.23%	-22.45%	-0.19%	22.10%	22.25%	-4.83%
FLCPX Fidelity SAI U.S. Large Cap Index Fund	10.21%	17.84%	25.08%	26.25%	-18.06%	28.61%	18.24%	31.59%	-7.57%

Correlation

The correlation between FGOMX and FLCPX is 0.57, 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	0.57
Correlation (3Y) Calculated over the trailing 3-year period	0.57
Correlation (5Y) Calculated over the trailing 5-year period	0.60
Correlation (All Time) Calculated using the full available price history since Nov 5, 2018	0.65

The correlation between FGOMX and FLCPX has been stable across timeframes, ranging from 0.57 to 0.65 - a consistent structural relationship.

Return for Risk

FGOMX vs. FLCPX — Risk / Return Rank

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

FGOMX

FGOMX Risk / Return Rank: 94
FGOMX Sharpe Ratio Rank: 98
FGOMX Sortino Ratio Rank: 91
FGOMX Omega Ratio Rank: 90
FGOMX Calmar Ratio Rank: 96
FGOMX Martin Ratio Rank: 96

FLCPX

FLCPX Risk / Return Rank: 67
FLCPX Sharpe Ratio Rank: 65
FLCPX Sortino Ratio Rank: 58
FLCPX Omega Ratio Rank: 60
FLCPX Calmar Ratio Rank: 69
FLCPX Martin Ratio Rank: 80

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.

FGOMX vs. FLCPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Strategic Advisers Fidelity Emerging Markets Fund (FGOMX) and Fidelity SAI U.S. Large Cap Index Fund (FLCPX). 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.

	FGOMX	FLCPX	Difference
Sharpe ratio: Return per unit of total volatility	3.44	2.18	+1.27
Sortino ratio: Return per unit of downside risk	4.19	2.94	+1.26
Omega ratio: Gain probability vs. loss probability	1.62	1.39	+0.22
Calmar ratio: Return relative to maximum drawdown	5.73	3.05	+2.67
Martin ratio: Return relative to average drawdown	20.97	13.79	+7.19

FGOMX vs. FLCPX - Sharpe Ratio Comparison

The current FGOMX Sharpe Ratio is 3.44, which is higher than the FLCPX Sharpe Ratio of 2.18. The chart below compares the historical Sharpe Ratios of FGOMX and FLCPX, 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

FGOMX vs. FLCPX - Drawdown Comparison

The maximum FGOMX drawdown since its inception was -40.14%, which is greater than FLCPX's maximum drawdown of -33.87%. Use the drawdown chart below to compare losses from any high point for FGOMX and FLCPX.

Drawdown Indicators

	FGOMX	FLCPX	Difference
Max Drawdown Largest peak-to-trough decline	-40.14%	-33.87%	-6.27%
Max Drawdown (1Y) Largest decline over 1 year	-12.77%	-8.89%	-3.88%
Max Drawdown (3Y) Largest decline over 3 years	-16.71%	-18.76%	+2.05%
Max Drawdown (5Y) Largest decline over 5 years	-37.84%	-24.40%	-13.44%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.87%	—
Current Drawdown Current decline from peak	-0.70%	-1.35%	+0.65%
Average Drawdown Average peak-to-trough decline	-13.29%	-4.18%	-9.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.23%	1.96%	+1.27%

Volatility

FGOMX vs. FLCPX - Volatility Comparison

Strategic Advisers Fidelity Emerging Markets Fund (FGOMX) has a higher volatility of 11.06% compared to Fidelity SAI U.S. Large Cap Index Fund (FLCPX) at 4.76%. This indicates that FGOMX's price experiences larger fluctuations and is considered to be riskier than FLCPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FGOMX	FLCPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.06%	4.76%	+6.30%
Volatility (6M) Calculated over the trailing 6-month period	18.35%	9.90%	+8.45%
Volatility (1Y) Calculated over the trailing 1-year period	21.24%	12.48%	+8.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.38%	17.16%	+1.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.57%	18.20%	+1.37%

FGOMX vs. FLCPX - Expense Ratio Comparison

FGOMX has a 0.25% expense ratio, which is higher than FLCPX's 0.02% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

FGOMX vs. FLCPX - Dividend Comparison

FGOMX's dividend yield for the trailing twelve months is around 1.63%, more than FLCPX's 0.51% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FGOMX Strategic Advisers Fidelity Emerging Markets Fund	1.63%	2.17%	2.40%	2.83%	2.42%	4.63%	0.73%	2.13%	0.00%	0.00%	0.00%
FLCPX Fidelity SAI U.S. Large Cap Index Fund	0.51%	0.56%	6.11%	7.05%	11.23%	10.38%	3.93%	1.74%	2.18%	1.57%	0.76%

Frequently Asked Questions

Can I hold both FGOMX and FLCPX in my portfolio?

FGOMX and FLCPX have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FGOMX or FLCPX?

FGOMX has higher volatility (11.06%) compared to FLCPX (4.76%). In terms of maximum drawdown, FGOMX dropped -40.14% vs FLCPX's -33.87%.

Which has better risk-adjusted returns?

FGOMX currently has the higher Sharpe Ratio (3.44 vs 2.18), 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.