FGRTX vs. MGC

Last updated Jun 23, 2026

FGRTX (Fidelity Mega Cap Stock Fund) and MGC (Vanguard Mega Cap ETF) are both Large Cap Blend Equities funds. FGRTX is actively managed, while MGC is passively managed. Over the past 10 years, FGRTX returned 16.61%/yr vs 16.51%/yr for MGC. Their correlation of 0.95 suggests significant overlap in exposure. FGRTX charges 0.58%/yr vs 0.05%/yr for MGC.

Performance

FGRTX vs. MGC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Mega Cap Stock Fund (FGRTX) and Vanguard Mega Cap ETF (MGC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FGRTX achieves a 10.11% return, which is significantly higher than MGC's 9.05% return. Both investments have delivered pretty close results over the past 10 years, with FGRTX having a 16.61% annualized return and MGC not far behind at 16.51%.

FGRTX

• 1D: 1.00%
• 1M: 0.64%
• YTD: 10.11%
• 6M: 10.32%
• 1Y: 30.02%
• 3Y*: 24.66%
• 5Y*: 17.05%
• 10Y*: 16.61%

MGC

• 1D: -0.63%
• 1M: -0.40%
• YTD: 9.05%
• 6M: 8.78%
• 1Y: 27.57%
• 3Y*: 22.54%
• 5Y*: 14.13%
• 10Y*: 16.51%

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

FGRTX vs. MGC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FGRTX Fidelity Mega Cap Stock Fund	10.11%	26.92%	25.98%	26.51%	-8.98%	26.29%	12.96%	31.07%	-7.44%	16.98%
MGC Vanguard Mega Cap ETF	9.05%	19.31%	27.16%	29.77%	-19.95%	27.58%	21.57%	31.14%	-3.45%	22.61%

Correlation

The correlation between FGRTX and MGC is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (10Y) Calculated over the trailing 10-year period	0.92
Correlation (All Time) Calculated using the full available price history since Dec 27, 2007	0.95

The correlation between FGRTX and MGC has been stable across timeframes, ranging from 0.92 to 0.95 - a consistent structural relationship.

Return for Risk

FGRTX vs. MGC — Risk / Return Rank

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

FGRTX

FGRTX Risk / Return Rank: 78
FGRTX Sharpe Ratio Rank: 79
FGRTX Sortino Ratio Rank: 74
FGRTX Omega Ratio Rank: 72
FGRTX Calmar Ratio Rank: 78
FGRTX Martin Ratio Rank: 85

MGC

MGC Risk / Return Rank: 65
MGC Sharpe Ratio Rank: 68
MGC Sortino Ratio Rank: 65
MGC Omega Ratio Rank: 66
MGC Calmar Ratio Rank: 58
MGC Martin Ratio Rank: 68

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.

FGRTX vs. MGC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Mega Cap Stock Fund (FGRTX) and Vanguard Mega Cap ETF (MGC). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	FGRTX	MGC	Difference
Sharpe ratio: Return per unit of total volatility	2.39	2.13	+0.26
Sortino ratio: Return per unit of downside risk	3.27	2.88	+0.40
Omega ratio: Gain probability vs. loss probability	1.43	1.38	+0.05
Calmar ratio: Return relative to maximum drawdown	3.33	2.81	+0.52
Martin ratio: Return relative to average drawdown	14.80	12.20	+2.60

FGRTX vs. MGC - Sharpe Ratio Comparison

The current FGRTX Sharpe Ratio is 2.39, which is comparable to the MGC Sharpe Ratio of 2.13. The chart below compares the historical Sharpe Ratios of FGRTX and MGC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FGRTX vs. MGC - Drawdown Comparison

The maximum FGRTX drawdown since its inception was -56.17%, which is greater than MGC's maximum drawdown of -52.26%. Use the drawdown chart below to compare losses from any high point for FGRTX and MGC.

Drawdown Indicators

	FGRTX	MGC	Difference
Max Drawdown Largest peak-to-trough decline	-56.17%	-52.26%	-3.91%
Max Drawdown (1Y) Largest decline over 1 year	-8.99%	-9.85%	+0.86%
Max Drawdown (3Y) Largest decline over 3 years	-18.51%	-19.28%	+0.77%
Max Drawdown (5Y) Largest decline over 5 years	-23.35%	-25.74%	+2.39%
Max Drawdown (10Y) Largest decline over 10 years	-35.18%	-33.07%	-2.11%
Current Drawdown Current decline from peak	-0.66%	-2.36%	+1.70%
Average Drawdown Average peak-to-trough decline	-8.71%	-7.17%	-1.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.02%	2.27%	-0.25%

Volatility

FGRTX vs. MGC - Volatility Comparison

The current volatility for Fidelity Mega Cap Stock Fund (FGRTX) is 4.35%, while Vanguard Mega Cap ETF (MGC) has a volatility of 5.00%. This indicates that FGRTX experiences smaller price fluctuations and is considered to be less risky than MGC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FGRTX	MGC	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.35%	5.00%	-0.65%
Volatility (6M) Calculated over the trailing 6-month period	9.75%	10.23%	-0.48%
Volatility (1Y) Calculated over the trailing 1-year period	12.50%	13.01%	-0.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.77%	17.37%	-0.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.15%	18.27%	-0.12%

FGRTX vs. MGC - Expense Ratio Comparison

FGRTX has a 0.58% expense ratio, which is higher than MGC's 0.05% expense ratio.

Dividends

FGRTX vs. MGC - Dividend Comparison

FGRTX's dividend yield for the trailing twelve months is around 3.53%, more than MGC's 0.88% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FGRTX Fidelity Mega Cap Stock Fund	3.53%	3.89%	2.68%	2.06%	4.38%	4.79%	7.96%	12.98%	21.72%	15.57%	1.97%	4.16%
MGC Vanguard Mega Cap ETF	0.88%	0.93%	1.15%	1.35%	1.65%	1.17%	1.45%	1.81%	2.10%	1.83%	2.14%	2.11%

Frequently Asked Questions

Can I hold both FGRTX and MGC in my portfolio?

With a correlation of 0.94, FGRTX and MGC 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, FGRTX or MGC?

MGC has higher volatility (5.00%) compared to FGRTX (4.35%). In terms of maximum drawdown, FGRTX dropped -56.17% vs MGC's -52.26%.

Which has better risk-adjusted returns?

FGRTX currently has the higher Sharpe Ratio (2.39 vs 2.13), 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.