FGRO vs. MOAT

Last updated Jun 5, 2026

FGRO (Fidelity Growth Opportunities ETF) and MOAT (VanEck Morningstar Wide Moat ETF) are both exchange-traded funds - FGRO is a Global Equities fund actively managed by Fidelity, while MOAT is a Large Cap Blend Equities fund tracking the Morningstar Wide Moat Focus Index. FGRO is actively managed, while MOAT is passively managed. Over the past 5 years, FGRO returned 12.69%/yr vs 8.20%/yr for MOAT. A 0.72 correlation means they provide meaningful diversification when combined. FGRO charges 0.59%/yr vs 0.47%/yr for MOAT.

Performance

FGRO vs. MOAT - Performance Comparison

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

Returns By Period

In the year-to-date period, FGRO achieves a 17.03% return, which is significantly higher than MOAT's -0.07% return.

FGRO

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

MOAT

• 1D: 0.88%
• 1M: 3.57%
• YTD: -0.07%
• 6M: -0.05%
• 1Y: 15.51%
• 3Y*: 11.79%
• 5Y*: 8.20%
• 10Y*: 13.40%

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

FGRO vs. MOAT - 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%
MOAT VanEck Morningstar Wide Moat ETF	-0.07%	13.20%	10.73%	31.89%	-13.66%	19.40%

Correlation

The correlation between FGRO and MOAT is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (3Y) Calculated over the trailing 3-year period	0.57
Correlation (5Y) Calculated over the trailing 5-year period	0.73
Correlation (All Time) Calculated using the full available price history since Feb 5, 2021	0.72

Over the past year, the correlation between FGRO and MOAT has dropped to 0.47 - well below their long-term average of 0.72, suggesting their price drivers have been diverging.

FGRO vs. MOAT - Sectors Allocation Comparison

Sectors	FGRO	MOAT
Technology	47.1%	32.8%
Communication Services	18.4%	2.4%
Consumer Cyclical	12.3%	10.3%
Healthcare	7.9%	16.0%
Industrials	5.7%	13.5%
Financial Services	4.8%	6.7%
Basic Materials	1.5%	-
Consumer Defensive	0.8%	17.5%
Real Estate	0.7%	0.8%
Utilities	0.5%	-
Energy	0.2%	-

Return for Risk

FGRO vs. MOAT — Risk / Return Rank

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

MOAT

MOAT Risk / Return Rank: 30
MOAT Sharpe Ratio Rank: 32
MOAT Sortino Ratio Rank: 32
MOAT Omega Ratio Rank: 29
MOAT Calmar Ratio Rank: 27
MOAT Martin Ratio Rank: 28

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. MOAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Growth Opportunities ETF (FGRO) and VanEck Morningstar Wide Moat ETF (MOAT). 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	MOAT	Difference
Sharpe ratio: Return per unit of total volatility	2.14	1.12	+1.01
Sortino ratio: Return per unit of downside risk	2.82	1.69	+1.13
Omega ratio: Gain probability vs. loss probability	1.37	1.19	+0.17
Calmar ratio: Return relative to maximum drawdown	2.75	1.25	+1.49
Martin ratio: Return relative to average drawdown	10.74	3.90	+6.84
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. MOAT - Sharpe Ratio Comparison

The current FGRO Sharpe Ratio is 2.14, which is higher than the MOAT Sharpe Ratio of 1.12. The chart below compares the historical Sharpe Ratios of FGRO and MOAT, 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	MOAT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.14	1.12	+1.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.50	0.45	+0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.72	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	0.78	-0.34

Drawdowns

FGRO vs. MOAT - Drawdown Comparison

The maximum FGRO drawdown since its inception was -44.52%, which is greater than MOAT's maximum drawdown of -33.31%. Use the drawdown chart below to compare losses from any high point for FGRO and MOAT.

Drawdown Indicators

	FGRO	MOAT	Difference
Max Drawdown Largest peak-to-trough decline	-44.52%	-33.31%	-11.21%
Max Drawdown (1Y) Largest decline over 1 year	-14.23%	-12.43%	-1.80%
Max Drawdown (3Y) Largest decline over 3 years	-26.72%	-21.44%	-5.28%
Max Drawdown (5Y) Largest decline over 5 years	-44.52%	-23.96%	-20.56%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.31%	—
Current Drawdown Current decline from peak	-0.44%	-3.88%	+3.44%
Average Drawdown Average peak-to-trough decline	-14.26%	-3.83%	-10.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.63%	3.98%	-0.35%

Volatility

FGRO vs. MOAT - Volatility Comparison

Fidelity Growth Opportunities ETF (FGRO) has a higher volatility of 4.54% compared to VanEck Morningstar Wide Moat ETF (MOAT) at 3.86%. This indicates that FGRO's price experiences larger fluctuations and is considered to be riskier than MOAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FGRO	MOAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.54%	3.86%	+0.68%
Volatility (6M) Calculated over the trailing 6-month period	14.11%	9.88%	+4.23%
Volatility (1Y) Calculated over the trailing 1-year period	18.28%	13.85%	+4.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.33%	18.18%	+7.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.38%	18.68%	+6.70%

FGRO vs. MOAT - Expense Ratio Comparison

FGRO has a 0.59% expense ratio, which is higher than MOAT's 0.47% expense ratio.

Dividends

FGRO vs. MOAT - Dividend Comparison

FGRO has not paid dividends to shareholders, while MOAT's dividend yield for the trailing twelve months is around 1.36%.

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%
MOAT VanEck Morningstar Wide Moat ETF	1.36%	1.36%	1.37%	0.86%	1.25%	1.08%	1.46%	1.31%	1.79%	1.07%	1.17%	2.13%

Frequently Asked Questions

Can I hold both FGRO and MOAT in my portfolio?

FGRO and MOAT have a correlation of 0.47, 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 MOAT?

FGRO has higher volatility (4.54%) compared to MOAT (3.86%). In terms of maximum drawdown, FGRO dropped -44.52% vs MOAT's -33.31%.

Which ETF is better, FGRO or MOAT?

On 5-year performance, FGRO leads with 12.69% vs 8.20% for MOAT. On fees, MOAT is cheaper at 0.47% per year. On volatility, MOAT has been the lower-risk option at 3.86%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FGRO or MOAT?

Over the 5-year period, FGRO has performed better with a 12.69% return vs 8.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FGRO or MOAT?

MOAT is cheaper with a 0.47% expense ratio, compared with 0.59% for FGRO.

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

MOAT has the higher dividend yield at 1.36%, compared with 0.13% for FGRO.

What is the main difference between FGRO and MOAT?

FGRO is categorized as Global Equities, while MOAT is Large Cap Blend Equities. They also come from different issuers: Fidelity and VanEck. Their fees differ too: 0.59% for FGRO and 0.47% for MOAT.

Which has better risk-adjusted returns?

FGRO currently has the higher Sharpe Ratio (2.14 vs 1.12), 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.