FGRO vs. AKREX

Last updated Jun 5, 2026

FGRO (Fidelity Growth Opportunities ETF) and AKREX (Akre Focus Fund Retail Class) are both funds - FGRO is a Global Equities fund actively managed by Fidelity, while AKREX is a Large Cap Growth Equities fund managed by Akre. A 0.68 correlation means they provide meaningful diversification when combined. FGRO charges 0.59%/yr vs 1.30%/yr for AKREX.

Performance

FGRO vs. AKREX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Growth Opportunities ETF (FGRO) and Akre Focus Fund Retail Class (AKREX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FGRO

• 1D: 0.46%
• 1M: 6.72%
• YTD: 17.03%
• 6M: 16.08%
• 1Y: 38.91%
• 3Y*: 29.35%
• 5Y*: 12.69%
• 10Y*: —

AKREX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FGRO vs. AKREX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
FGRO Fidelity Growth Opportunities ETF	17.03%	19.61%	32.29%	49.71%	-37.86%	1.72%
AKREX Akre Focus Fund Retail Class	0.00%	1.72%	17.97%	28.39%	-22.95%	23.98%

Correlation

The correlation between FGRO and AKREX is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.19
Correlation (3Y) Calculated over the trailing 3-year period	0.51
Correlation (5Y) Calculated over the trailing 5-year period	0.68
Correlation (All Time) Calculated using the full available price history since Feb 5, 2021	0.68

Over the past year, the correlation between FGRO and AKREX has dropped to 0.19 - well below their long-term average of 0.68, suggesting their price drivers have been diverging.

Return for Risk

FGRO vs. AKREX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Growth Opportunities ETF (FGRO) and Akre Focus Fund Retail Class (AKREX). 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.

	FGRO	AKREX	Difference
Sharpe ratio: Return per unit of total volatility	2.14	—	—
Sortino ratio: Return per unit of downside risk	2.82	—	—
Omega ratio: Gain probability vs. loss probability	1.37	—	—
Calmar ratio: Return relative to maximum drawdown	2.75	—	—
Martin ratio: Return relative to average drawdown	10.74	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	FGRO	AKREX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.14	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.50	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	—	—

Drawdowns

Drawdown Indicators

	FGRO	AKREX	Difference
Max Drawdown Largest peak-to-trough decline	-44.52%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-14.23%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-26.72%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-44.52%	—	—
Current Drawdown Current decline from peak	-0.44%	—	—
Average Drawdown Average peak-to-trough decline	-14.26%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	3.63%	—	—

Volatility

Volatility by Period

	FGRO	AKREX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.54%	—	—
Volatility (6M) Calculated over the trailing 6-month period	14.11%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	18.28%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.33%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.38%	—	—

FGRO vs. AKREX - Expense Ratio Comparison

FGRO has a 0.59% expense ratio, which is lower than AKREX's 1.30% expense ratio.

Dividends

FGRO vs. AKREX - Dividend Comparison

FGRO has not paid dividends to shareholders, while AKREX's dividend yield for the trailing twelve months is around 4.80%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
AKREX Akre Focus Fund Retail Class	4.80%	4.80%	5.07%	3.56%	6.73%	3.65%	0.00%	2.99%	0.55%	0.62%	0.18%
FGRO Fidelity Growth Opportunities ETF	0.13%	0.14%	0.09%	0.00%	1.50%	0.55%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FGRO and AKREX in my portfolio?

FGRO and AKREX have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.