FRSGX vs. FRAAX
FRSGX (Franklin Small-Mid Cap Growth Fund) and FRAAX (Franklin Growth Opportunities Fund) are both mutual funds - FRSGX is a Mid Cap Growth Equities fund managed by Franklin Templeton, while FRAAX is a Large Cap Growth Equities fund managed by Franklin Templeton. Over the past 10 years, FRSGX returned 13.64%/yr vs 13.87%/yr for FRAAX. Their correlation of 0.95 means they have usually moved in the same direction. FRSGX charges 0.85%/yr vs 0.65%/yr for FRAAX.
Performance
FRSGX vs. FRAAX - Performance Comparison
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Returns By Period
In the year-to-date period, FRSGX achieves a 5.00% return, which is significantly higher than FRAAX's 4.16% return. Both investments have delivered pretty close results over the past 10 years, with FRSGX having a 13.64% annualized return and FRAAX not far ahead at 13.87%.
FRSGX
- 1D
- 1.53%
- 1M
- -2.59%
- 6M
- 4.61%
- YTD
- 5.00%
- 1Y
- 3.58%
- 3Y*
- 8.69%
- 5Y*
- 6.41%
- 10Y*
- 13.64%
- ALL TIME*
- 11.18%
FRAAX
- 1D
- 2.85%
- 1M
- -3.60%
- 6M
- 5.12%
- YTD
- 4.16%
- 1Y
- 7.48%
- 3Y*
- 15.33%
- 5Y*
- 3.72%
- 10Y*
- 13.87%
- ALL TIME*
- 10.39%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
FRSGX vs. FRAAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FRSGX Franklin Small-Mid Cap Growth Fund | 5.00% | 2.83% | 11.36% | 27.20% | -33.84% | 50.07% | 56.09% | 31.98% | -4.94% | 21.64% |
FRAAX Franklin Growth Opportunities Fund | 4.16% | 8.35% | 26.35% | 39.92% | -36.97% | 9.71% | 45.79% | 46.13% | -1.10% | 29.12% |
Correlation
The correlation between FRSGX and FRAAX is 0.80, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.80 |
Correlation (3Y) Balances recent behavior with more history. | 0.85 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.90 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.91 |
Correlation (All Time) Calculated using the full available price history since Jun 23, 1999 | 0.95 |
The correlation between FRSGX and FRAAX shifts across timeframes, from 0.80 (1 year) to 0.95 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
FRSGX vs. FRAAX — Risk / Return Rank
FRSGX
FRAAX
FRSGX vs. FRAAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin Small-Mid Cap Growth Fund (FRSGX) and Franklin Growth Opportunities Fund (FRAAX). 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.
| FRSGX | FRAAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.27 | ||
| Sortino ratioReturn per unit of downside risk | -0.37 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 1.07 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 0.07 | 0.37 | -0.30 |
| Martin ratioReturn relative to average drawdown | 0.20 | 1.16 | -0.96 |
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Drawdowns
FRSGX vs. FRAAX - Drawdown Comparison
The maximum FRSGX drawdown since its inception was -69.07%, smaller than the maximum FRAAX drawdown of -78.63%. Use the drawdown chart below to compare losses from any high point for FRSGX and FRAAX.
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Drawdown Indicators
| FRSGX | FRAAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.07% | -78.63% | +9.56% |
Max Drawdown (1Y)Largest decline over 1 year | -12.39% | -15.75% | +3.36% |
Max Drawdown (3Y)Largest decline over 3 years | -25.77% | -25.26% | -0.51% |
Max Drawdown (5Y)Largest decline over 5 years | -39.25% | -47.54% | +8.29% |
Max Drawdown (10Y)Largest decline over 10 years | -39.25% | -47.54% | +8.29% |
Current DrawdownCurrent decline from peak | -4.57% | -6.59% | +2.02% |
Average DrawdownAverage peak-to-trough decline | -18.62% | -28.95% | +10.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.15% | 4.95% | -0.80% |
Volatility
FRSGX vs. FRAAX - Volatility Comparison
The current volatility for Franklin Small-Mid Cap Growth Fund (FRSGX) is 4.02%, while Franklin Growth Opportunities Fund (FRAAX) has a volatility of 6.10%. This indicates that FRSGX experiences smaller price fluctuations and is considered to be less risky than FRAAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FRSGX | FRAAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.02% | 6.10% | -2.08% |
Volatility (6M)Calculated over the trailing 6-month period | 13.53% | 15.05% | -1.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.91% | 18.23% | -1.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 28.46% | 23.53% | +4.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.06% | 22.61% | +2.45% |
FRSGX vs. FRAAX - Expense Ratio Comparison
FRSGX has a 0.85% expense ratio, which is higher than FRAAX's 0.65% expense ratio.
Dividends
FRSGX vs. FRAAX - Dividend Comparison
FRSGX's dividend yield for the trailing twelve months is around 7.77%, less than FRAAX's 15.86% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FRAAX Franklin Growth Opportunities Fund | 15.86% | 16.52% | 9.57% | 11.80% | 4.31% | 0.48% | 5.29% | 16.03% | 12.10% | 8.13% | 1.97% | 1.93% |
FRSGX Franklin Small-Mid Cap Growth Fund | 7.77% | 8.16% | 0.00% | 0.00% | 6.80% | 41.15% | 8.84% | 18.91% | 14.01% | 8.78% | 6.68% | 9.71% |
Frequently Asked Questions
FRSGX and FRAAX have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FRAAX has higher volatility (6.10%) compared to FRSGX (4.02%). In terms of maximum drawdown, FRSGX dropped -69.07% vs FRAAX's -78.63%.
FRAAX currently has the higher Sharpe Ratio (0.32 vs 0.05), 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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