FGRO vs. FAGCX

Last updated Jun 4, 2026

FGRO (Fidelity Growth Opportunities ETF) and FAGCX (Fidelity Advisor Growth Opportunities Fund Class I) are both funds - FGRO is a Global Equities fund actively managed by Fidelity, while FAGCX is a Large Cap Growth Equities fund managed by Fidelity. Over the past 5 years, FGRO returned 12.59%/yr vs 16.08%/yr for FAGCX. With a 0.98 correlation, they move nearly in lockstep. FGRO charges 0.59%/yr vs 0.79%/yr for FAGCX.

Performance

FGRO vs. FAGCX - Performance Comparison

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

Returns By Period

The year-to-date returns for both investments are quite close, with FGRO having a 16.49% return and FAGCX slightly higher at 16.86%.

FGRO

• 1D: -0.90%
• 1M: 7.34%
• YTD: 16.49%
• 6M: 16.21%
• 1Y: 39.38%
• 3Y*: 28.99%
• 5Y*: 12.59%
• 10Y*: —

FAGCX

• 1D: -0.07%
• 1M: 8.79%
• YTD: 16.86%
• 6M: 18.06%
• 1Y: 40.97%
• 3Y*: 32.05%
• 5Y*: 16.08%
• 10Y*: 25.71%

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

FGRO vs. FAGCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
FGRO Fidelity Growth Opportunities ETF	16.49%	19.61%	32.29%	49.71%	-37.86%	1.72%
FAGCX Fidelity Advisor Growth Opportunities Fund Class I	16.86%	22.47%	39.06%	45.51%	-32.60%	6.83%

Correlation

The correlation between FGRO and FAGCX is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.97
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (5Y) Calculated over the trailing 5-year period	0.98
Correlation (All Time) Calculated using the full available price history since Feb 5, 2021	0.98

The correlation between FGRO and FAGCX has been stable across timeframes, ranging from 0.97 to 0.98 - a consistent structural relationship.

Return for Risk

FGRO vs. FAGCX — Risk / Return Rank

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

FAGCX

FAGCX Risk / Return Rank: 52
FAGCX Sharpe Ratio Rank: 62
FAGCX Sortino Ratio Rank: 50
FAGCX Omega Ratio Rank: 52
FAGCX Calmar Ratio Rank: 47
FAGCX Martin Ratio Rank: 47

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.

FGRO vs. FAGCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Growth Opportunities ETF (FGRO) and Fidelity Advisor Growth Opportunities Fund Class I (FAGCX). 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	FAGCX	Difference
Sharpe ratio: Return per unit of total volatility	2.16	2.31	-0.15
Sortino ratio: Return per unit of downside risk	2.85	2.99	-0.14
Omega ratio: Gain probability vs. loss probability	1.37	1.40	-0.03
Calmar ratio: Return relative to maximum drawdown	2.78	2.62	+0.16
Martin ratio: Return relative to average drawdown	10.87	9.81	+1.06
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FGRO vs. FAGCX - Sharpe Ratio Comparison

The current FGRO Sharpe Ratio is 2.16, which is comparable to the FAGCX Sharpe Ratio of 2.31. The chart below compares the historical Sharpe Ratios of FGRO and FAGCX, 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

	FGRO	FAGCX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.16	2.31	-0.15
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.50	0.64	-0.14
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.05	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	0.52	-0.08

Drawdowns

FGRO vs. FAGCX - Drawdown Comparison

The maximum FGRO drawdown since its inception was -44.52%, smaller than the maximum FAGCX drawdown of -69.09%. Use the drawdown chart below to compare losses from any high point for FGRO and FAGCX.

Drawdown Indicators

	FGRO	FAGCX	Difference
Max Drawdown Largest peak-to-trough decline	-44.52%	-69.09%	+24.57%
Max Drawdown (1Y) Largest decline over 1 year	-14.23%	-16.10%	+1.87%
Max Drawdown (3Y) Largest decline over 3 years	-26.72%	-26.59%	-0.13%
Max Drawdown (5Y) Largest decline over 5 years	-44.52%	-38.72%	-5.80%
Max Drawdown (10Y) Largest decline over 10 years	—	-38.72%	—
Current Drawdown Current decline from peak	-0.90%	-0.07%	-0.83%
Average Drawdown Average peak-to-trough decline	-14.27%	-18.75%	+4.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.63%	4.29%	-0.66%

Volatility

FGRO vs. FAGCX - Volatility Comparison

Fidelity Growth Opportunities ETF (FGRO) and Fidelity Advisor Growth Opportunities Fund Class I (FAGCX) have volatilities of 4.60% and 4.48%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FGRO	FAGCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.60%	4.48%	+0.12%
Volatility (6M) Calculated over the trailing 6-month period	14.11%	14.26%	-0.15%
Volatility (1Y) Calculated over the trailing 1-year period	18.30%	18.26%	+0.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.34%	25.40%	-0.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.38%	24.49%	+0.89%

FGRO vs. FAGCX - Expense Ratio Comparison

FGRO has a 0.59% expense ratio, which is lower than FAGCX's 0.79% expense ratio.

Dividends

FGRO vs. FAGCX - Dividend Comparison

FGRO has not paid dividends to shareholders, while FAGCX's dividend yield for the trailing twelve months is around 3.14%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FAGCX Fidelity Advisor Growth Opportunities Fund Class I	3.14%	3.67%	0.00%	0.00%	11.34%	14.14%	7.31%	7.69%	14.30%	8.00%	15.78%	16.11%
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%	0.00%

Frequently Asked Questions

Can I hold both FGRO and FAGCX in my portfolio?

With a correlation of 0.97, FGRO and FAGCX 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, FGRO or FAGCX?

FGRO has higher volatility (4.60%) compared to FAGCX (4.48%). In terms of maximum drawdown, FGRO dropped -44.52% vs FAGCX's -69.09%.

Which has better risk-adjusted returns?

FAGCX currently has the higher Sharpe Ratio (2.31 vs 2.16), 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.