FGRAX vs. SBMAX

Last updated Jun 24, 2026

FGRAX (Franklin Growth Opportunities Fund Class A) and SBMAX (ClearBridge Mid Cap Fund) are both mutual funds - FGRAX is a Large Cap Growth Equities fund actively managed by Franklin, while SBMAX is a Mid Cap Blend Equities fund managed by Franklin Templeton. Over the past 10 years, FGRAX returned 18.70%/yr vs 8.47%/yr for SBMAX. Their correlation of 0.87 suggests significant overlap in exposure. FGRAX charges 0.89%/yr vs 1.13%/yr for SBMAX.

Performance

FGRAX vs. SBMAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Growth Opportunities Fund Class A (FGRAX) and ClearBridge Mid Cap Fund (SBMAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FGRAX achieves a 9.76% return, which is significantly higher than SBMAX's 3.76% return. Over the past 10 years, FGRAX has outperformed SBMAX with an annualized return of 18.70%, while SBMAX has yielded a comparatively lower 8.47% annualized return.

FGRAX

• 1D: -1.09%
• 1M: 2.47%
• YTD: 9.76%
• 6M: 8.23%
• 1Y: 16.49%
• 3Y*: 19.20%
• 5Y*: 11.65%
• 10Y*: 18.70%

SBMAX

• 1D: 0.12%
• 1M: 2.93%
• YTD: 3.76%
• 6M: 2.34%
• 1Y: 7.28%
• 3Y*: 9.24%
• 5Y*: 2.37%
• 10Y*: 8.47%

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

FGRAX vs. SBMAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FGRAX Franklin Growth Opportunities Fund Class A	9.76%	8.10%	25.65%	39.54%	-37.14%	48.19%	45.48%	46.91%	-1.32%	28.78%
SBMAX ClearBridge Mid Cap Fund	3.76%	4.21%	9.79%	13.51%	-25.19%	28.37%	16.25%	32.77%	-12.92%	12.69%

Correlation

The correlation between FGRAX and SBMAX is 0.67, 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	0.67
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (5Y) Calculated over the trailing 5-year period	0.80
Correlation (10Y) Calculated over the trailing 10-year period	0.79
Correlation (All Time) Calculated using the full available price history since Jun 23, 1999	0.87

Over the past year, the correlation between FGRAX and SBMAX has dropped to 0.67 - well below their long-term average of 0.87, suggesting their price drivers have been diverging.

Return for Risk

FGRAX vs. SBMAX — Risk / Return Rank

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

FGRAX

FGRAX Risk / Return Rank: 15
FGRAX Sharpe Ratio Rank: 16
FGRAX Sortino Ratio Rank: 16
FGRAX Omega Ratio Rank: 16
FGRAX Calmar Ratio Rank: 13
FGRAX Martin Ratio Rank: 15

SBMAX

SBMAX Risk / Return Rank: 8
SBMAX Sharpe Ratio Rank: 8
SBMAX Sortino Ratio Rank: 8
SBMAX Omega Ratio Rank: 7
SBMAX Calmar Ratio Rank: 9
SBMAX Martin Ratio Rank: 9

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.

FGRAX vs. SBMAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Growth Opportunities Fund Class A (FGRAX) and ClearBridge Mid Cap Fund (SBMAX). 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.

	FGRAX	SBMAX	Difference
Sharpe ratio: Return per unit of total volatility	1.05	0.57	+0.48
Sortino ratio: Return per unit of downside risk	1.51	0.90	+0.61
Omega ratio: Gain probability vs. loss probability	1.19	1.11	+0.09
Calmar ratio: Return relative to maximum drawdown	1.14	0.80	+0.34
Martin ratio: Return relative to average drawdown	3.76	2.38	+1.37

FGRAX vs. SBMAX - Sharpe Ratio Comparison

The current FGRAX Sharpe Ratio is 1.05, which is higher than the SBMAX Sharpe Ratio of 0.57. The chart below compares the historical Sharpe Ratios of FGRAX and SBMAX, 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

FGRAX vs. SBMAX - Drawdown Comparison

The maximum FGRAX drawdown since its inception was -78.79%, which is greater than SBMAX's maximum drawdown of -52.41%. Use the drawdown chart below to compare losses from any high point for FGRAX and SBMAX.

Drawdown Indicators

	FGRAX	SBMAX	Difference
Max Drawdown Largest peak-to-trough decline	-78.79%	-52.41%	-26.38%
Max Drawdown (1Y) Largest decline over 1 year	-15.82%	-10.32%	-5.50%
Max Drawdown (3Y) Largest decline over 3 years	-26.30%	-23.62%	-2.68%
Max Drawdown (5Y) Largest decline over 5 years	-40.30%	-31.55%	-8.75%
Max Drawdown (10Y) Largest decline over 10 years	-40.30%	-39.88%	-0.42%
Current Drawdown Current decline from peak	-1.45%	-1.84%	+0.39%
Average Drawdown Average peak-to-trough decline	-28.75%	-9.65%	-19.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.79%	3.46%	+1.33%

Volatility

FGRAX vs. SBMAX - Volatility Comparison

Franklin Growth Opportunities Fund Class A (FGRAX) has a higher volatility of 7.14% compared to ClearBridge Mid Cap Fund (SBMAX) at 3.63%. This indicates that FGRAX's price experiences larger fluctuations and is considered to be riskier than SBMAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FGRAX	SBMAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.14%	3.63%	+3.51%
Volatility (6M) Calculated over the trailing 6-month period	13.81%	11.32%	+2.49%
Volatility (1Y) Calculated over the trailing 1-year period	17.12%	14.50%	+2.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.70%	19.84%	+6.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.41%	20.26%	+4.15%

FGRAX vs. SBMAX - Expense Ratio Comparison

FGRAX has a 0.89% expense ratio, which is lower than SBMAX's 1.13% expense ratio.

Dividends

FGRAX vs. SBMAX - Dividend Comparison

FGRAX's dividend yield for the trailing twelve months is around 17.97%, more than SBMAX's 8.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FGRAX Franklin Growth Opportunities Fund Class A	17.97%	19.73%	10.72%	13.47%	4.83%	28.81%	5.83%	17.52%	13.10%	8.71%	2.09%	2.04%
SBMAX ClearBridge Mid Cap Fund	8.60%	8.92%	8.73%	1.83%	4.96%	12.79%	7.27%	7.78%	4.52%	6.52%	1.70%	5.00%

Frequently Asked Questions

Can I hold both FGRAX and SBMAX in my portfolio?

FGRAX and SBMAX have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FGRAX or SBMAX?

FGRAX has higher volatility (7.14%) compared to SBMAX (3.63%). In terms of maximum drawdown, FGRAX dropped -78.79% vs SBMAX's -52.41%.

Which has better risk-adjusted returns?

FGRAX currently has the higher Sharpe Ratio (1.05 vs 0.57), 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.