FGRO vs. FDGRX

Last updated Jun 4, 2026

FGRO (Fidelity Growth Opportunities ETF) and FDGRX (Fidelity Growth Company Fund) are both funds - FGRO is a Global Equities fund actively managed by Fidelity, while FDGRX is a Large Cap Growth Equities fund actively managed by Fidelity. Both are actively managed. Over the past 5 years, FGRO returned 12.59%/yr vs 17.53%/yr for FDGRX. With a 0.97 correlation, they move nearly in lockstep. FGRO charges 0.59%/yr vs 0.52%/yr for FDGRX.

Performance

FGRO vs. FDGRX - Performance Comparison

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

Returns By Period

In the year-to-date period, FGRO achieves a 16.49% return, which is significantly lower than FDGRX's 23.73% return.

FGRO

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

FDGRX

• 1D: 0.03%
• 1M: 8.79%
• YTD: 23.73%
• 6M: 19.90%
• 1Y: 48.48%
• 3Y*: 31.67%
• 5Y*: 17.53%
• 10Y*: 23.01%

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

FGRO vs. FDGRX - 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%
FDGRX Fidelity Growth Company Fund	23.73%	18.54%	37.18%	47.25%	-33.86%	13.84%

Correlation

The correlation between FGRO and FDGRX 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	0.97
Correlation (All Time) Calculated using the full available price history since Feb 5, 2021	0.97

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

FGRO vs. FDGRX - Sectors Allocation Comparison

Sectors	FGRO	FDGRX
Technology	47.1%	52.2%
Communication Services	18.4%	13.5%
Consumer Cyclical	12.3%	11.7%
Healthcare	7.9%	12.4%
Industrials	5.7%	2.6%
Financial Services	4.8%	3.3%
Basic Materials	1.5%	0.7%
Consumer Defensive	0.8%	2.9%
Real Estate	0.7%	0.2%
Utilities	0.5%	-
Energy	0.2%	0.5%

Return for Risk

FGRO vs. FDGRX — Risk / Return Rank

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

FDGRX

FDGRX Risk / Return Rank: 76
FDGRX Sharpe Ratio Rank: 85
FDGRX Sortino Ratio Rank: 64
FDGRX Omega Ratio Rank: 67
FDGRX Calmar Ratio Rank: 85
FDGRX 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.

FGRO vs. FDGRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Growth Opportunities ETF (FGRO) and Fidelity Growth Company Fund (FDGRX). 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	FDGRX	Difference
Sharpe ratio: Return per unit of total volatility	2.16	2.74	-0.57
Sortino ratio: Return per unit of downside risk	2.85	3.35	-0.50
Omega ratio: Gain probability vs. loss probability	1.37	1.46	-0.09
Calmar ratio: Return relative to maximum drawdown	2.78	4.00	-1.22
Martin ratio: Return relative to average drawdown	10.87	15.03	-4.16
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. FDGRX - Sharpe Ratio Comparison

The current FGRO Sharpe Ratio is 2.16, which is comparable to the FDGRX Sharpe Ratio of 2.74. The chart below compares the historical Sharpe Ratios of FGRO and FDGRX, 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	FDGRX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.16	2.74	-0.57
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.50	0.74	-0.24
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.99	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	0.70	-0.26

Drawdowns

FGRO vs. FDGRX - Drawdown Comparison

The maximum FGRO drawdown since its inception was -44.52%, smaller than the maximum FDGRX drawdown of -71.62%. Use the drawdown chart below to compare losses from any high point for FGRO and FDGRX.

Drawdown Indicators

	FGRO	FDGRX	Difference
Max Drawdown Largest peak-to-trough decline	-44.52%	-71.62%	+27.10%
Max Drawdown (1Y) Largest decline over 1 year	-14.23%	-12.60%	-1.63%
Max Drawdown (3Y) Largest decline over 3 years	-26.72%	-26.19%	-0.53%
Max Drawdown (5Y) Largest decline over 5 years	-44.52%	-40.25%	-4.27%
Max Drawdown (10Y) Largest decline over 10 years	—	-40.25%	—
Current Drawdown Current decline from peak	-0.90%	0.00%	-0.90%
Average Drawdown Average peak-to-trough decline	-14.27%	-15.91%	+1.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.63%	3.34%	+0.29%

Volatility

FGRO vs. FDGRX - Volatility Comparison

Fidelity Growth Opportunities ETF (FGRO) and Fidelity Growth Company Fund (FDGRX) have volatilities of 4.60% and 4.40%, 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	FDGRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.60%	4.40%	+0.20%
Volatility (6M) Calculated over the trailing 6-month period	14.11%	14.41%	-0.30%
Volatility (1Y) Calculated over the trailing 1-year period	18.30%	18.44%	-0.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.34%	23.93%	+1.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.38%	23.39%	+1.99%

FGRO vs. FDGRX - Expense Ratio Comparison

FGRO has a 0.59% expense ratio, which is higher than FDGRX's 0.52% expense ratio.

Dividends

FGRO vs. FDGRX - Dividend Comparison

Neither FGRO nor FDGRX has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDGRX Fidelity Growth Company Fund	0.00%	0.00%	8.86%	3.83%	7.20%	10.67%	8.86%	3.84%	6.38%	4.73%	6.16%	3.92%
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 FDGRX in my portfolio?

With a correlation of 0.97, FGRO and FDGRX 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 FDGRX?

FGRO has higher volatility (4.60%) compared to FDGRX (4.40%). In terms of maximum drawdown, FGRO dropped -44.52% vs FDGRX's -71.62%.

Which has better risk-adjusted returns?

FDGRX currently has the higher Sharpe Ratio (2.74 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.