FSPGX vs. VPMCX

Last updated Aug 5, 2026

FSPGX (Fidelity Large Cap Growth Index Fund) and VPMCX (Vanguard PRIMECAP Fund Investor Shares) are both Large Cap Growth Equities funds. Over the past 5 years, FSPGX returned 12.19%/yr vs 14.92%/yr for VPMCX. Their correlation of 0.87 means they have usually moved in the same direction. FSPGX charges 0.04%/yr vs 0.35%/yr for VPMCX.

Performance

FSPGX vs. VPMCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Large Cap Growth Index Fund (FSPGX) and Vanguard PRIMECAP Fund Investor Shares (VPMCX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FSPGX achieves a 2.47% return, which is significantly lower than VPMCX's 21.86% return.

FSPGX

• 1D: 2.16%
• 1M: -0.32%
• 6M: 5.57%
• YTD: 2.47%
• 1Y: 10.34%
• 3Y*: 21.32%
• 5Y*: 12.19%
• 10Y*: —
• ALL TIME*: 18.16%

VPMCX

• 1D: 0.95%
• 1M: -3.00%
• 6M: 15.94%
• YTD: 21.86%
• 1Y: 46.33%
• 3Y*: 24.73%
• 5Y*: 14.92%
• 10Y*: 16.58%
• ALL TIME*: 15.28%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FSPGX Fidelity Large Cap Growth Index Fund	$0.00	$0.00	$0.00
VPMCX Vanguard PRIMECAP Fund Investor Shares	$0.00	$0.00	$0.00

FSPGX vs. VPMCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FSPGX Fidelity Large Cap Growth Index Fund	2.47%	18.54%	33.27%	42.77%	-29.17%	27.57%	38.46%	36.38%	-1.79%	27.70%
VPMCX Vanguard PRIMECAP Fund Investor Shares	21.86%	29.60%	13.23%	28.16%	-15.22%	21.64%	17.16%	27.78%	-1.99%	28.17%

Correlation

The correlation between FSPGX and VPMCX is 0.76, 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.	0.76
Correlation (3Y) Balances recent behavior with more history.	0.81
Correlation (5Y) Shows whether the relationship held over a longer period.	0.87
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017	0.87

The correlation between FSPGX and VPMCX shifts across timeframes, from 0.76 (1 year) to 0.87 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FSPGX vs. VPMCX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FSPGX

FSPGX Risk / Return Rank: 17
FSPGX Sharpe Ratio Rank: 18
FSPGX Sortino Ratio Rank: 18
FSPGX Omega Ratio Rank: 17
FSPGX Calmar Ratio Rank: 15
FSPGX Martin Ratio Rank: 16

VPMCX

VPMCX Risk / Return Rank: 93
VPMCX Sharpe Ratio Rank: 95
VPMCX Sortino Ratio Rank: 92
VPMCX Omega Ratio Rank: 88
VPMCX Calmar Ratio Rank: 94
VPMCX Martin Ratio Rank: 94

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FSPGX vs. VPMCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Large Cap Growth Index Fund (FSPGX) and Vanguard PRIMECAP Fund Investor Shares (VPMCX). 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.

	FSPGX	VPMCX	Difference
Sharpe ratio: Return per unit of total volatility	0.72	2.57	-1.85
Sortino ratio: Return per unit of downside risk	1.09	3.45	-2.36
Omega ratio: Gain probability vs. loss probability	1.13	1.45	-0.32
Calmar ratio: Return relative to maximum drawdown	0.78	4.15	-3.38
Martin ratio: Return relative to average drawdown	2.31	15.31	-13.00

FSPGX vs. VPMCX - Sharpe Ratio Comparison

The current FSPGX Sharpe Ratio is 0.72, which is lower than the VPMCX Sharpe Ratio of 2.57. The chart below compares the historical Sharpe Ratios of FSPGX and VPMCX, 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

FSPGX vs. VPMCX - Drawdown Comparison

The maximum FSPGX drawdown since its inception was -32.66%, smaller than the maximum VPMCX drawdown of -50.45%. Use the drawdown chart below to compare losses from any high point for FSPGX and VPMCX.

Drawdown Indicators

	FSPGX	VPMCX	Difference
Max Drawdown Largest peak-to-trough decline	-32.66%	-50.45%	+17.79%
Max Drawdown (1Y) Largest decline over 1 year	-16.17%	-11.73%	-4.44%
Max Drawdown (3Y) Largest decline over 3 years	-23.32%	-20.56%	-2.76%
Max Drawdown (5Y) Largest decline over 5 years	-32.66%	-25.25%	-7.41%
Max Drawdown (10Y) Largest decline over 10 years	—	-32.65%	—
Current Drawdown Current decline from peak	-6.00%	-6.60%	+0.60%
Average Drawdown Average peak-to-trough decline	-6.36%	-7.39%	+1.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.42%	3.17%	+2.25%

Volatility

FSPGX vs. VPMCX - Volatility Comparison

Fidelity Large Cap Growth Index Fund (FSPGX) has a higher volatility of 6.70% compared to Vanguard PRIMECAP Fund Investor Shares (VPMCX) at 5.84%. This indicates that FSPGX's price experiences larger fluctuations and is considered to be riskier than VPMCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSPGX	VPMCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.70%	5.84%	+0.86%
Volatility (6M) Calculated over the trailing 6-month period	14.18%	16.14%	-1.96%
Volatility (1Y) Calculated over the trailing 1-year period	17.56%	19.02%	-1.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.83%	18.81%	+3.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.58%	19.40%	+2.18%

FSPGX vs. VPMCX - Expense Ratio Comparison

FSPGX has a 0.04% expense ratio, which is lower than VPMCX's 0.35% expense ratio.

Dividends

FSPGX vs. VPMCX - Dividend Comparison

FSPGX's dividend yield for the trailing twelve months is around 0.38%, less than VPMCX's 13.42% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSPGX Fidelity Large Cap Growth Index Fund	0.38%	0.34%	0.37%	0.73%	0.86%	2.22%	1.76%	1.04%	1.32%	0.22%	0.00%	0.00%
VPMCX Vanguard PRIMECAP Fund Investor Shares	13.42%	16.36%	6.62%	7.16%	9.85%	10.08%	9.74%	7.15%	8.32%	4.53%	5.05%	5.91%

Frequently Asked Questions

Can I hold both FSPGX and VPMCX in my portfolio?

FSPGX and VPMCX have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FSPGX or VPMCX?

FSPGX has higher volatility (6.70%) compared to VPMCX (5.84%). In terms of maximum drawdown, FSPGX dropped -32.66% vs VPMCX's -50.45%.

Which has better risk-adjusted returns?

VPMCX currently has the higher Sharpe Ratio (2.57 vs 0.72), 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.