FNCMX vs. SPYG
FNCMX (Fidelity NASDAQ Composite Index Fund) and SPYG (State Street SPDR Portfolio S&P 500 Growth ETF) are both funds - FNCMX is a Large Cap Growth Equities fund tracking the Nasdaq Composite Index, while SPYG is a S&P 500 fund tracking the S&P 500 Growth Index. Both are passively managed. Over the past 10 years, FNCMX returned 17.98%/yr vs 17.38%/yr for SPYG. Their correlation of 0.93 means they have usually moved in the same direction. FNCMX charges 0.29%/yr vs 0.04%/yr for SPYG.
Performance
FNCMX vs. SPYG - Performance Comparison
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Returns By Period
In the year-to-date period, FNCMX achieves a 8.42% return, which is significantly lower than SPYG's 10.06% return. Both investments have delivered pretty close results over the past 10 years, with FNCMX having a 17.98% annualized return and SPYG not far behind at 17.38%.
FNCMX
- 1D
- 2.78%
- 1M
- -2.76%
- 6M
- 7.39%
- YTD
- 8.42%
- 1Y
- 22.35%
- 3Y*
- 21.45%
- 5Y*
- 12.29%
- 10Y*
- 17.98%
- ALL TIME*
- 11.93%
SPYG
- 1D
- 1.45%
- 1M
- -0.05%
- 6M
- 9.50%
- YTD
- 10.06%
- 1Y
- 21.72%
- 3Y*
- 24.04%
- 5Y*
- 13.28%
- 10Y*
- 17.38%
- ALL TIME*
- 7.45%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $321.11M | $273.47M | $308.09M |
FNCMX vs. SPYG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FNCMX Fidelity NASDAQ Composite Index Fund | 8.42% | 21.11% | 29.48% | 45.13% | -32.40% | 22.21% | 44.57% | 36.63% | -3.07% | 28.35% |
SPYG State Street SPDR Portfolio S&P 500 Growth ETF | 10.06% | 22.09% | 35.99% | 30.02% | -29.41% | 32.01% | 33.46% | 30.84% | -0.12% | 27.24% |
Correlation
The correlation between FNCMX and SPYG is 0.97 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.97 |
Correlation (3Y) Balances recent behavior with more history. | 0.97 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.98 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.97 |
Correlation (All Time) Calculated using the full available price history since Jan 8, 2003 | 0.93 |
The correlation between FNCMX and SPYG has been stable across timeframes, ranging from 0.93 to 0.97 - a consistent structural relationship.
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Return for Risk
FNCMX vs. SPYG — Risk / Return Rank
FNCMX
SPYG
FNCMX vs. SPYG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity NASDAQ Composite Index Fund (FNCMX) and State Street SPDR Portfolio S&P 500 Growth ETF (SPYG). 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.
| FNCMX | SPYG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | -0.04 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.19 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.51 | 1.42 | +0.09 |
| Martin ratioReturn relative to average drawdown | 5.07 | 5.17 | -0.10 |
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Drawdowns
FNCMX vs. SPYG - Drawdown Comparison
The maximum FNCMX drawdown since its inception was -55.08%, smaller than the maximum SPYG drawdown of -67.63%. Use the drawdown chart below to compare losses from any high point for FNCMX and SPYG.
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Drawdown Indicators
| FNCMX | SPYG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.08% | -67.63% | +12.55% |
Max Drawdown (1Y)Largest decline over 1 year | -13.01% | -13.76% | +0.75% |
Max Drawdown (3Y)Largest decline over 3 years | -24.20% | -22.14% | -2.06% |
Max Drawdown (5Y)Largest decline over 5 years | -35.64% | -32.67% | -2.97% |
Max Drawdown (10Y)Largest decline over 10 years | -35.64% | -32.67% | -2.97% |
Current DrawdownCurrent decline from peak | -7.19% | -4.33% | -2.86% |
Average DrawdownAverage peak-to-trough decline | -7.84% | -24.20% | +16.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.87% | 3.78% | +0.09% |
Volatility
FNCMX vs. SPYG - Volatility Comparison
The current volatility for Fidelity NASDAQ Composite Index Fund (FNCMX) is 5.64%, while State Street SPDR Portfolio S&P 500 Growth ETF (SPYG) has a volatility of 6.08%. This indicates that FNCMX experiences smaller price fluctuations and is considered to be less risky than SPYG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FNCMX | SPYG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.64% | 6.08% | -0.44% |
Volatility (6M)Calculated over the trailing 6-month period | 14.70% | 14.85% | -0.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.42% | 18.18% | +0.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.79% | 21.50% | +1.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.15% | 20.79% | +1.36% |
FNCMX vs. SPYG - Expense Ratio Comparison
FNCMX has a 0.29% expense ratio, which is higher than SPYG's 0.04% expense ratio.
Dividends
FNCMX vs. SPYG - Dividend Comparison
FNCMX's dividend yield for the trailing twelve months is around 0.47%, less than SPYG's 0.49% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FNCMX Fidelity NASDAQ Composite Index Fund | 0.47% | 0.51% | 0.61% | 0.67% | 0.88% | 0.47% | 0.67% | 4.41% | 1.93% | 0.03% | 1.01% | 1.50% |
SPYG State Street SPDR Portfolio S&P 500 Growth ETF | 0.49% | 0.52% | 0.60% | 1.15% | 1.03% | 0.62% | 0.90% | 1.37% | 1.51% | 1.41% | 1.55% | 1.57% |
Frequently Asked Questions
With a correlation of 0.97, FNCMX and SPYG 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.
SPYG has higher volatility (6.08%) compared to FNCMX (5.64%). In terms of maximum drawdown, FNCMX dropped -55.08% vs SPYG's -67.63%.
SPYG currently has the higher Sharpe Ratio (1.08 vs 1.07), 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.
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