FNCMX vs. VIGAX

Last updated Jun 20, 2026

FNCMX (Fidelity NASDAQ Composite Index Fund) and VIGAX (Vanguard Growth Index Fund Admiral Shares) are both Large Cap Growth Equities funds - FNCMX tracks the Nasdaq Composite Index while VIGAX tracks the CRSP US Large Cap Growth Index. Both are passively managed. Over the past 10 years, FNCMX returned 19.45%/yr vs 18.13%/yr for VIGAX. With a 0.95 correlation, they move nearly in lockstep. FNCMX charges 0.29%/yr vs 0.05%/yr for VIGAX.

Performance

FNCMX vs. VIGAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity NASDAQ Composite Index Fund (FNCMX) and Vanguard Growth Index Fund Admiral Shares (VIGAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FNCMX achieves a 14.44% return, which is significantly higher than VIGAX's 7.19% return. Over the past 10 years, FNCMX has outperformed VIGAX with an annualized return of 19.45%, while VIGAX has yielded a comparatively lower 18.13% annualized return.

FNCMX

• 1D: 1.91%
• 1M: 0.76%
• YTD: 14.44%
• 6M: 14.13%
• 1Y: 37.23%
• 3Y*: 25.62%
• 5Y*: 14.53%
• 10Y*: 19.45%

VIGAX

• 1D: 1.71%
• 1M: -0.48%
• YTD: 7.19%
• 6M: 7.19%
• 1Y: 25.66%
• 3Y*: 23.75%
• 5Y*: 14.14%
• 10Y*: 18.13%

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

FNCMX vs. VIGAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FNCMX Fidelity NASDAQ Composite Index Fund	14.44%	21.11%	29.48%	45.13%	-32.40%	22.21%	44.57%	36.63%	-3.07%	28.35%
VIGAX Vanguard Growth Index Fund Admiral Shares	7.19%	19.43%	32.67%	46.76%	-33.14%	27.26%	40.18%	37.23%	-3.35%	27.80%

Correlation

The correlation between FNCMX and VIGAX is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.98
Correlation (3Y) Calculated over the trailing 3-year period	0.98
Correlation (5Y) Calculated over the trailing 5-year period	0.99
Correlation (10Y) Calculated over the trailing 10-year period	0.98
Correlation (All Time) Calculated using the full available price history since Jan 8, 2003	0.95

The correlation between FNCMX and VIGAX has been stable across timeframes, ranging from 0.95 to 0.99 - a consistent structural relationship.

Return for Risk

FNCMX vs. VIGAX — Risk / Return Rank

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

FNCMX

FNCMX Risk / Return Rank: 60
FNCMX Sharpe Ratio Rank: 66
FNCMX Sortino Ratio Rank: 56
FNCMX Omega Ratio Rank: 57
FNCMX Calmar Ratio Rank: 64
FNCMX Martin Ratio Rank: 59

VIGAX

VIGAX Risk / Return Rank: 28
VIGAX Sharpe Ratio Rank: 34
VIGAX Sortino Ratio Rank: 30
VIGAX Omega Ratio Rank: 31
VIGAX Calmar Ratio Rank: 21
VIGAX Martin Ratio Rank: 24

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.

FNCMX vs. VIGAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity NASDAQ Composite Index Fund (FNCMX) and Vanguard Growth Index Fund Admiral Shares (VIGAX). 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	VIGAX	Difference
Sharpe ratio: Return per unit of total volatility	2.11	1.50	+0.62
Sortino ratio: Return per unit of downside risk	2.77	2.05	+0.72
Omega ratio: Gain probability vs. loss probability	1.37	1.26	+0.10
Calmar ratio: Return relative to maximum drawdown	2.82	1.52	+1.30
Martin ratio: Return relative to average drawdown	10.74	5.24	+5.51

FNCMX vs. VIGAX - Sharpe Ratio Comparison

The current FNCMX Sharpe Ratio is 2.11, which is higher than the VIGAX Sharpe Ratio of 1.50. The chart below compares the historical Sharpe Ratios of FNCMX and VIGAX, 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

FNCMX vs. VIGAX - Drawdown Comparison

The maximum FNCMX drawdown since its inception was -55.08%, which is greater than VIGAX's maximum drawdown of -50.66%. Use the drawdown chart below to compare losses from any high point for FNCMX and VIGAX.

Drawdown Indicators

	FNCMX	VIGAX	Difference
Max Drawdown Largest peak-to-trough decline	-55.08%	-50.66%	-4.42%
Max Drawdown (1Y) Largest decline over 1 year	-13.01%	-16.51%	+3.50%
Max Drawdown (3Y) Largest decline over 3 years	-24.20%	-23.04%	-1.16%
Max Drawdown (5Y) Largest decline over 5 years	-35.64%	-35.63%	-0.01%
Max Drawdown (10Y) Largest decline over 10 years	-35.64%	-35.63%	-0.01%
Current Drawdown Current decline from peak	-2.04%	-3.55%	+1.51%
Average Drawdown Average peak-to-trough decline	-7.85%	-11.94%	+4.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.41%	4.79%	-1.38%

Volatility

FNCMX vs. VIGAX - Volatility Comparison

Fidelity NASDAQ Composite Index Fund (FNCMX) has a higher volatility of 7.38% compared to Vanguard Growth Index Fund Admiral Shares (VIGAX) at 6.58%. This indicates that FNCMX's price experiences larger fluctuations and is considered to be riskier than VIGAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FNCMX	VIGAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.38%	6.58%	+0.80%
Volatility (6M) Calculated over the trailing 6-month period	13.80%	13.43%	+0.37%
Volatility (1Y) Calculated over the trailing 1-year period	17.40%	16.81%	+0.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.64%	22.48%	+0.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.14%	21.66%	+0.48%

FNCMX vs. VIGAX - Expense Ratio Comparison

FNCMX has a 0.29% expense ratio, which is higher than VIGAX's 0.05% expense ratio.

Dividends

FNCMX vs. VIGAX - Dividend Comparison

FNCMX's dividend yield for the trailing twelve months is around 0.45%, more than VIGAX's 0.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FNCMX Fidelity NASDAQ Composite Index Fund	0.45%	0.51%	0.61%	0.67%	0.88%	0.47%	0.67%	4.41%	1.93%	0.03%	1.01%	1.50%
VIGAX Vanguard Growth Index Fund Admiral Shares	0.37%	0.40%	0.46%	0.57%	0.69%	0.47%	0.66%	0.94%	1.31%	1.14%	1.39%	1.31%

Frequently Asked Questions

Can I hold both FNCMX and VIGAX in my portfolio?

With a correlation of 0.98, FNCMX and VIGAX 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, FNCMX or VIGAX?

FNCMX has higher volatility (7.38%) compared to VIGAX (6.58%). In terms of maximum drawdown, FNCMX dropped -55.08% vs VIGAX's -50.66%.

Which has better risk-adjusted returns?

FNCMX currently has the higher Sharpe Ratio (2.11 vs 1.50), 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.