FLVCX vs. MGK

Last updated Jun 23, 2026

FLVCX (Fidelity Leveraged Company Stock Fund) and MGK (Vanguard Mega Cap Growth ETF) are both funds - FLVCX is a Large Cap Blend Equities fund managed by Fidelity, while MGK is a Large Cap Growth Equities fund tracking the CRSP US Mega Cap Growth Index. Over the past 10 years, FLVCX returned 15.91%/yr vs 19.23%/yr for MGK. Their correlation of 0.86 suggests significant overlap in exposure. FLVCX charges 0.74%/yr vs 0.05%/yr for MGK.

Performance

FLVCX vs. MGK - Performance Comparison

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

Returns By Period

In the year-to-date period, FLVCX achieves a 25.19% return, which is significantly higher than MGK's 5.89% return. Over the past 10 years, FLVCX has underperformed MGK with an annualized return of 15.91%, while MGK has yielded a comparatively higher 19.23% annualized return.

FLVCX

• 1D: 2.75%
• 1M: 7.71%
• YTD: 25.19%
• 6M: 23.95%
• 1Y: 44.17%
• 3Y*: 28.46%
• 5Y*: 15.49%
• 10Y*: 15.91%

MGK

• 1D: -1.39%
• 1M: -1.85%
• YTD: 5.89%
• 6M: 5.30%
• 1Y: 25.90%
• 3Y*: 24.22%
• 5Y*: 14.43%
• 10Y*: 19.23%

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

FLVCX vs. MGK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FLVCX Fidelity Leveraged Company Stock Fund	25.19%	20.34%	26.95%	26.10%	-22.99%	26.08%	26.74%	35.60%	-16.43%	20.92%
MGK Vanguard Mega Cap Growth ETF	5.89%	20.67%	32.94%	51.67%	-33.59%	28.58%	41.01%	37.38%	-2.91%	29.49%

Correlation

The correlation between FLVCX and MGK is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (10Y) Calculated over the trailing 10-year period	0.84
Correlation (All Time) Calculated using the full available price history since Dec 27, 2007	0.86

The correlation between FLVCX and MGK has been stable across timeframes, ranging from 0.79 to 0.86 - a consistent structural relationship.

Return for Risk

FLVCX vs. MGK — Risk / Return Rank

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

FLVCX

FLVCX Risk / Return Rank: 58
FLVCX Sharpe Ratio Rank: 54
FLVCX Sortino Ratio Rank: 45
FLVCX Omega Ratio Rank: 46
FLVCX Calmar Ratio Rank: 79
FLVCX Martin Ratio Rank: 67

MGK

MGK Risk / Return Rank: 39
MGK Sharpe Ratio Rank: 44
MGK Sortino Ratio Rank: 42
MGK Omega Ratio Rank: 41
MGK Calmar Ratio Rank: 32
MGK Martin Ratio Rank: 35

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.

FLVCX vs. MGK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Leveraged Company Stock Fund (FLVCX) and Vanguard Mega Cap Growth ETF (MGK). 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.

	FLVCX	MGK	Difference
Sharpe ratio: Return per unit of total volatility	1.99	1.51	+0.48
Sortino ratio: Return per unit of downside risk	2.59	2.08	+0.52
Omega ratio: Gain probability vs. loss probability	1.34	1.26	+0.08
Calmar ratio: Return relative to maximum drawdown	3.38	1.54	+1.84
Martin ratio: Return relative to average drawdown	12.30	5.19	+7.12

FLVCX vs. MGK - Sharpe Ratio Comparison

The current FLVCX Sharpe Ratio is 1.99, which is higher than the MGK Sharpe Ratio of 1.51. The chart below compares the historical Sharpe Ratios of FLVCX and MGK, 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

FLVCX vs. MGK - Drawdown Comparison

The maximum FLVCX drawdown since its inception was -70.02%, which is greater than MGK's maximum drawdown of -48.43%. Use the drawdown chart below to compare losses from any high point for FLVCX and MGK.

Drawdown Indicators

	FLVCX	MGK	Difference
Max Drawdown Largest peak-to-trough decline	-70.02%	-48.43%	-21.59%
Max Drawdown (1Y) Largest decline over 1 year	-13.06%	-16.85%	+3.79%
Max Drawdown (3Y) Largest decline over 3 years	-28.54%	-23.36%	-5.18%
Max Drawdown (5Y) Largest decline over 5 years	-28.54%	-36.01%	+7.47%
Max Drawdown (10Y) Largest decline over 10 years	-44.14%	-36.01%	-8.13%
Current Drawdown Current decline from peak	0.00%	-5.13%	+5.13%
Average Drawdown Average peak-to-trough decline	-10.98%	-7.58%	-3.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.59%	5.00%	-1.41%

Volatility

FLVCX vs. MGK - Volatility Comparison

Fidelity Leveraged Company Stock Fund (FLVCX) has a higher volatility of 9.13% compared to Vanguard Mega Cap Growth ETF (MGK) at 6.78%. This indicates that FLVCX's price experiences larger fluctuations and is considered to be riskier than MGK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLVCX	MGK	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.13%	6.78%	+2.35%
Volatility (6M) Calculated over the trailing 6-month period	18.28%	13.63%	+4.65%
Volatility (1Y) Calculated over the trailing 1-year period	22.21%	17.22%	+4.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.07%	22.78%	+0.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.50%	21.97%	+1.53%

FLVCX vs. MGK - Expense Ratio Comparison

FLVCX has a 0.74% expense ratio, which is higher than MGK's 0.05% expense ratio.

Dividends

FLVCX vs. MGK - Dividend Comparison

FLVCX's dividend yield for the trailing twelve months is around 3.77%, more than MGK's 0.33% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FLVCX Fidelity Leveraged Company Stock Fund	3.77%	4.72%	14.53%	12.19%	18.49%	8.40%	0.11%	0.10%	19.91%	18.96%	27.48%	6.18%
MGK Vanguard Mega Cap Growth ETF	0.33%	0.35%	0.43%	0.50%	0.70%	0.41%	0.65%	0.85%	1.12%	1.23%	1.53%	1.43%

Frequently Asked Questions

Can I hold both FLVCX and MGK in my portfolio?

FLVCX and MGK have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FLVCX or MGK?

FLVCX has higher volatility (9.13%) compared to MGK (6.78%). In terms of maximum drawdown, FLVCX dropped -70.02% vs MGK's -48.43%.

Which has better risk-adjusted returns?

FLVCX currently has the higher Sharpe Ratio (1.99 vs 1.51), 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.