FPRO vs. FBCG

Last updated Jun 4, 2026

FPRO (Fidelity Real Estate Investment ETF) and FBCG (Fidelity Blue Chip Growth ETF) are both exchange-traded funds - FPRO is a REIT fund actively managed by Fidelity, while FBCG is a Large Cap Growth Equities fund actively managed by Fidelity. Both are actively managed. Over the past 5 years, FPRO returned 3.13%/yr vs 15.84%/yr for FBCG. At a 0.41 correlation, their price movements are largely independent. Both charge a 0.59% expense ratio.

Performance

FPRO vs. FBCG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Real Estate Investment ETF (FPRO) and Fidelity Blue Chip Growth ETF (FBCG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FPRO achieves a 9.97% return, which is significantly lower than FBCG's 15.59% return.

FPRO

• 1D: 0.12%
• 1M: -1.08%
• YTD: 9.97%
• 6M: 9.24%
• 1Y: 10.32%
• 3Y*: 9.14%
• 5Y*: 3.13%
• 10Y*: —

FBCG

• 1D: -1.05%
• 1M: 7.84%
• YTD: 15.59%
• 6M: 15.51%
• 1Y: 39.38%
• 3Y*: 30.60%
• 5Y*: 15.84%
• 10Y*: —

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

FPRO vs. FBCG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
FPRO Fidelity Real Estate Investment ETF	9.97%	2.60%	5.63%	10.93%	-25.02%	40.13%
FBCG Fidelity Blue Chip Growth ETF	15.59%	18.60%	39.05%	57.98%	-39.10%	12.18%

Correlation

The correlation between FPRO and FBCG is 0.11, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.11
Correlation (3Y) Calculated over the trailing 3-year period	0.24
Correlation (5Y) Calculated over the trailing 5-year period	0.41
Correlation (All Time) Calculated using the full available price history since Feb 5, 2021	0.41

Over the past year, the correlation between FPRO and FBCG has dropped to 0.11 - well below their long-term average of 0.41, suggesting their price drivers have been diverging.

FPRO vs. FBCG - Sectors Allocation Comparison

Sectors	FPRO	FBCG
Real Estate	99.4%	0.7%
Communication Services	0.6%	16.6%
Basic Materials	-	0.6%
Consumer Cyclical	-	17.2%
Consumer Defensive	-	1.3%
Energy	-	0.4%
Financial Services	-	2.2%
Healthcare	-	6.7%
Industrials	-	5.7%
Technology	-	48.3%
Utilities	-	0.5%

Return for Risk

FPRO vs. FBCG — Risk / Return Rank

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

FPRO

FPRO Risk / Return Rank: 24
FPRO Sharpe Ratio Rank: 22
FPRO Sortino Ratio Rank: 21
FPRO Omega Ratio Rank: 21
FPRO Calmar Ratio Rank: 28
FPRO Martin Ratio Rank: 27

FBCG

FBCG Risk / Return Rank: 57
FBCG Sharpe Ratio Rank: 62
FBCG Sortino Ratio Rank: 59
FBCG Omega Ratio Rank: 58
FBCG Calmar Ratio Rank: 52
FBCG Martin Ratio Rank: 57

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.

FPRO vs. FBCG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Real Estate Investment ETF (FPRO) and Fidelity Blue Chip Growth ETF (FBCG). 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.

	FPRO	FBCG	Difference
Sharpe ratio: Return per unit of total volatility	0.79	2.14	-1.34
Sortino ratio: Return per unit of downside risk	1.15	2.84	-1.68
Omega ratio: Gain probability vs. loss probability	1.14	1.36	-0.22
Calmar ratio: Return relative to maximum drawdown	1.35	2.61	-1.26
Martin ratio: Return relative to average drawdown	3.88	10.14	-6.26
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FPRO vs. FBCG - Sharpe Ratio Comparison

The current FPRO Sharpe Ratio is 0.79, which is lower than the FBCG Sharpe Ratio of 2.14. The chart below compares the historical Sharpe Ratios of FPRO and FBCG, 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

	FPRO	FBCG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.79	2.14	-1.34
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.17	0.62	-0.45
Sharpe Ratio (All Time) Calculated using the full available price history	0.35	0.83	-0.48

Drawdowns

FPRO vs. FBCG - Drawdown Comparison

The maximum FPRO drawdown since its inception was -32.81%, smaller than the maximum FBCG drawdown of -43.56%. Use the drawdown chart below to compare losses from any high point for FPRO and FBCG.

Drawdown Indicators

	FPRO	FBCG	Difference
Max Drawdown Largest peak-to-trough decline	-32.81%	-43.56%	+10.75%
Max Drawdown (1Y) Largest decline over 1 year	-7.67%	-15.17%	+7.50%
Max Drawdown (3Y) Largest decline over 3 years	-16.83%	-27.89%	+11.06%
Max Drawdown (5Y) Largest decline over 5 years	-32.81%	-43.56%	+10.75%
Current Drawdown Current decline from peak	-2.73%	-1.05%	-1.68%
Average Drawdown Average peak-to-trough decline	-12.66%	-11.49%	-1.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.67%	3.90%	-1.23%

Volatility

FPRO vs. FBCG - Volatility Comparison

The current volatility for Fidelity Real Estate Investment ETF (FPRO) is 3.54%, while Fidelity Blue Chip Growth ETF (FBCG) has a volatility of 4.79%. This indicates that FPRO experiences smaller price fluctuations and is considered to be less risky than FBCG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FPRO	FBCG	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.54%	4.79%	-1.25%
Volatility (6M) Calculated over the trailing 6-month period	9.13%	13.89%	-4.76%
Volatility (1Y) Calculated over the trailing 1-year period	13.10%	18.55%	-5.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.62%	25.79%	-7.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.37%	25.72%	-7.35%

FPRO vs. FBCG - Expense Ratio Comparison

Both FPRO and FBCG have an expense ratio of 0.59%.

Dividends

FPRO vs. FBCG - Dividend Comparison

FPRO's dividend yield for the trailing twelve months is around 2.57%, more than FBCG's 0.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
FBCG Fidelity Blue Chip Growth ETF	0.04%	0.05%	0.12%	0.02%	0.00%	0.00%	0.01%
FPRO Fidelity Real Estate Investment ETF	2.57%	2.69%	2.50%	2.83%	2.67%	1.69%	0.00%

Frequently Asked Questions

Can I hold both FPRO and FBCG in my portfolio?

FPRO and FBCG have a correlation of 0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FPRO or FBCG?

FBCG has higher volatility (4.79%) compared to FPRO (3.54%). In terms of maximum drawdown, FPRO dropped -32.81% vs FBCG's -43.56%.

Which ETF is better, FPRO or FBCG?

On 5-year performance, FBCG leads with 15.84% vs 3.13% for FPRO. Both ETFs have the same 0.59% expense ratio. On volatility, FPRO has been the lower-risk option at 3.54%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FPRO or FBCG?

Over the 5-year period, FBCG has performed better with a 15.84% return vs 3.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FPRO or FBCG?

FPRO and FBCG have the same expense ratio: 0.59% per year.

Which ETF pays a higher dividend yield, FPRO or FBCG?

FPRO has the higher dividend yield at 2.57%, compared with 0.04% for FBCG.

What is the main difference between FPRO and FBCG?

FPRO is categorized as REIT, while FBCG is Large Cap Growth Equities.

Which has better risk-adjusted returns?

FBCG currently has the higher Sharpe Ratio (2.14 vs 0.79), 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.