FGRO vs. INKM

Last updated Jun 4, 2026

FGRO (Fidelity Growth Opportunities ETF) and INKM (SPDR SSgA Income Allocation ETF) are both Global Equities funds. Both are actively managed. Over the past 5 years, FGRO returned 12.59%/yr vs 3.96%/yr for INKM. A 0.56 correlation means they provide meaningful diversification when combined. FGRO charges 0.59%/yr vs 0.50%/yr for INKM.

Performance

FGRO vs. INKM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Growth Opportunities ETF (FGRO) and SPDR SSgA Income Allocation ETF (INKM). 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 higher than INKM's 5.61% return.

FGRO

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

INKM

• 1D: -0.29%
• 1M: 0.93%
• YTD: 5.61%
• 6M: 5.74%
• 1Y: 13.00%
• 3Y*: 10.04%
• 5Y*: 3.96%
• 10Y*: 5.59%

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

FGRO vs. INKM - 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%
INKM SPDR SSgA Income Allocation ETF	5.61%	11.86%	5.70%	10.26%	-12.58%	7.35%

Correlation

The correlation between FGRO and INKM is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.45
Correlation (3Y) Calculated over the trailing 3-year period	0.46
Correlation (5Y) Calculated over the trailing 5-year period	0.56
Correlation (All Time) Calculated using the full available price history since Feb 5, 2021	0.56

The correlation between FGRO and INKM shifts across timeframes, from 0.45 (1 year) to 0.56 (all time), reflecting how their relationship changes across market environments.

FGRO vs. INKM - Sectors Allocation Comparison

Sectors	FGRO	INKM
Technology	47.1%	13.2%
Communication Services	18.4%	6.2%
Consumer Cyclical	12.3%	5.1%
Healthcare	7.9%	6.8%
Industrials	5.7%	14.6%
Financial Services	4.8%	8.3%
Basic Materials	1.5%	1.4%
Consumer Defensive	0.8%	8.6%
Real Estate	0.7%	10.9%
Utilities	0.5%	13.9%
Energy	0.2%	11.1%

Return for Risk

FGRO vs. INKM — Risk / Return Rank

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

INKM

INKM Risk / Return Rank: 65
INKM Sharpe Ratio Rank: 66
INKM Sortino Ratio Rank: 68
INKM Omega Ratio Rank: 69
INKM Calmar Ratio Rank: 58
INKM Martin Ratio Rank: 63

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. INKM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Growth Opportunities ETF (FGRO) and SPDR SSgA Income Allocation ETF (INKM). 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	INKM	Difference
Sharpe ratio: Return per unit of total volatility	2.16	2.20	-0.03
Sortino ratio: Return per unit of downside risk	2.85	3.12	-0.27
Omega ratio: Gain probability vs. loss probability	1.37	1.42	-0.05
Calmar ratio: Return relative to maximum drawdown	2.78	2.87	-0.09
Martin ratio: Return relative to average drawdown	10.87	11.30	-0.43
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. INKM - Sharpe Ratio Comparison

The current FGRO Sharpe Ratio is 2.16, which is comparable to the INKM Sharpe Ratio of 2.20. The chart below compares the historical Sharpe Ratios of FGRO and INKM, 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	INKM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.16	2.20	-0.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.50	0.48	+0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.57	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	0.57	-0.14

Drawdowns

FGRO vs. INKM - Drawdown Comparison

The maximum FGRO drawdown since its inception was -44.52%, which is greater than INKM's maximum drawdown of -28.58%. Use the drawdown chart below to compare losses from any high point for FGRO and INKM.

Drawdown Indicators

	FGRO	INKM	Difference
Max Drawdown Largest peak-to-trough decline	-44.52%	-28.58%	-15.94%
Max Drawdown (1Y) Largest decline over 1 year	-14.23%	-4.55%	-9.68%
Max Drawdown (3Y) Largest decline over 3 years	-26.72%	-9.25%	-17.47%
Max Drawdown (5Y) Largest decline over 5 years	-44.52%	-19.18%	-25.34%
Max Drawdown (10Y) Largest decline over 10 years	—	-28.58%	—
Current Drawdown Current decline from peak	-0.90%	-0.33%	-0.57%
Average Drawdown Average peak-to-trough decline	-14.27%	-3.69%	-10.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.63%	1.15%	+2.48%

Volatility

FGRO vs. INKM - Volatility Comparison

Fidelity Growth Opportunities ETF (FGRO) has a higher volatility of 4.60% compared to SPDR SSgA Income Allocation ETF (INKM) at 1.67%. This indicates that FGRO's price experiences larger fluctuations and is considered to be riskier than INKM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FGRO	INKM	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.60%	1.67%	+2.93%
Volatility (6M) Calculated over the trailing 6-month period	14.11%	4.59%	+9.52%
Volatility (1Y) Calculated over the trailing 1-year period	18.30%	5.95%	+12.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.34%	8.30%	+17.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.38%	9.78%	+15.60%

FGRO vs. INKM - Expense Ratio Comparison

FGRO has a 0.59% expense ratio, which is higher than INKM's 0.50% expense ratio.

Dividends

FGRO vs. INKM - Dividend Comparison

FGRO has not paid dividends to shareholders, while INKM's dividend yield for the trailing twelve months is around 4.86%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
INKM SPDR SSgA Income Allocation ETF	4.86%	5.82%	4.83%	4.56%	5.03%	3.74%	3.88%	4.38%	4.08%	3.10%	3.39%	3.45%

Frequently Asked Questions

Can I hold both FGRO and INKM in my portfolio?

FGRO and INKM have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FGRO or INKM?

FGRO has higher volatility (4.60%) compared to INKM (1.67%). In terms of maximum drawdown, FGRO dropped -44.52% vs INKM's -28.58%.

Which ETF is better, FGRO or INKM?

On 5-year performance, FGRO leads with 12.59% vs 3.96% for INKM. On fees, INKM is cheaper at 0.50% per year. On volatility, INKM has been the lower-risk option at 1.67%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FGRO or INKM?

Over the 5-year period, FGRO has performed better with a 12.59% return vs 3.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FGRO or INKM?

INKM is cheaper with a 0.50% expense ratio, compared with 0.59% for FGRO.

Which ETF pays a higher dividend yield, FGRO or INKM?

INKM has the higher dividend yield at 4.86%, compared with 0.13% for FGRO.

What is the main difference between FGRO and INKM?

They also come from different issuers: Fidelity and State Street. Their fees differ too: 0.59% for FGRO and 0.50% for INKM.

Which has better risk-adjusted returns?

INKM currently has the higher Sharpe Ratio (2.20 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.