FXAIX vs. MIGNX

Last updated Apr 10, 2026

FXAIX (Fidelity 500 Index Fund) and MIGNX (MFS Massachusetts Investors Growth Stock Fund Class R6) are both mutual funds — FXAIX is a S&P 500 fund tracking the S&P 500 Index, while MIGNX is a Large Cap Growth Equities fund tracking the Russell 1000 Growth Index. Both are passively managed. Over the past 10 years, FXAIX returned 14.65%/yr vs 14.55%/yr for MIGNX. Their correlation of 0.95 suggests significant overlap in exposure. FXAIX charges 0.02%/yr vs 0.37%/yr for MIGNX.

Performance

FXAIX vs. MIGNX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity 500 Index Fund (FXAIX) and MFS Massachusetts Investors Growth Stock Fund Class R6 (MIGNX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FXAIX achieves a -0.59% return, which is significantly higher than MIGNX's -6.28% return. Both investments have delivered pretty close results over the past 10 years, with FXAIX having a 14.65% annualized return and MIGNX not far behind at 14.55%.

FXAIX

• 1D: 2.51%
• 1M: 0.11%
• YTD: -0.59%
• 6M: 1.31%
• 1Y: 25.84%
• 3Y*: 19.85%
• 5Y*: 12.04%
• 10Y*: 14.65%

MIGNX

• 1D: 2.55%
• 1M: -1.04%
• YTD: -6.28%
• 6M: -5.86%
• 1Y: 12.30%
• 3Y*: 15.16%
• 5Y*: 9.27%
• 10Y*: 14.55%

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

FXAIX vs. MIGNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FXAIX Fidelity 500 Index Fund	-0.59%	17.84%	25.01%	26.29%	-18.14%	28.71%	18.42%	31.48%	-4.43%	21.82%
MIGNX MFS Massachusetts Investors Growth Stock Fund Class R6	-6.28%	10.31%	27.60%	24.51%	-18.92%	26.52%	22.96%	40.34%	1.14%	29.12%

Correlation

The correlation between FXAIX and MIGNX is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification — they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (All Time) Calculated using the full available price history since Jun 4, 2012	0.95

The correlation between FXAIX and MIGNX has been stable across timeframes, ranging from 0.94 to 0.95 — a consistent structural relationship.

FXAIX vs. MIGNX - Expense Ratio Comparison

FXAIX has a 0.02% expense ratio, which is lower than MIGNX's 0.37% expense ratio.

Return for Risk

FXAIX vs. MIGNX — Risk / Return Rank

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

FXAIX

FXAIX Risk / Return Rank: 78
FXAIX Sharpe Ratio Rank: 64
FXAIX Sortino Ratio Rank: 70
FXAIX Omega Ratio Rank: 71
FXAIX Calmar Ratio Rank: 91
FXAIX Martin Ratio Rank: 94

MIGNX

MIGNX Risk / Return Rank: 24
MIGNX Sharpe Ratio Rank: 21
MIGNX Sortino Ratio Rank: 24
MIGNX Omega Ratio Rank: 21
MIGNX Calmar Ratio Rank: 26
MIGNX Martin Ratio Rank: 28

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.

FXAIX vs. MIGNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity 500 Index Fund (FXAIX) and MFS Massachusetts Investors Growth Stock Fund Class R6 (MIGNX). 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.

	FXAIX	MIGNX	Difference
Sharpe ratio Return per unit of total volatility	2.29	1.34	+0.95
Sortino ratio Return per unit of downside risk	3.64	2.18	+1.46
Omega ratio Gain probability vs. loss probability	1.50	1.28	+0.23
Calmar ratio Return relative to maximum drawdown	3.97	1.38	+2.60
Martin ratio Return relative to average drawdown	17.80	5.07	+12.73
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FXAIX vs. MIGNX - Sharpe Ratio Comparison

The current FXAIX Sharpe Ratio is 2.29, which is higher than the MIGNX Sharpe Ratio of 1.34. The chart below compares the historical Sharpe Ratios of FXAIX and MIGNX, 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

	FXAIX	MIGNX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.29	1.34	+0.95
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.71	0.53	+0.18
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.81	0.80	+0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.78	0.86	-0.08

Drawdowns

FXAIX vs. MIGNX - Drawdown Comparison

The maximum FXAIX drawdown since its inception was -33.79%, roughly equal to the maximum MIGNX drawdown of -32.40%. Use the drawdown chart below to compare losses from any high point for FXAIX and MIGNX.

Drawdown Indicators

	FXAIX	MIGNX	Difference
Max Drawdown Largest peak-to-trough decline	-33.79%	-32.40%	-1.39%
Max Drawdown (1Y) Largest decline over 1 year	-8.89%	-13.68%	+4.79%
Max Drawdown (5Y) Largest decline over 5 years	-24.50%	-26.48%	+1.98%
Max Drawdown (10Y) Largest decline over 10 years	-33.79%	-32.40%	-1.39%
Current Drawdown Current decline from peak	-2.56%	-8.23%	+5.67%
Average Drawdown Average peak-to-trough decline	-3.83%	-3.88%	+0.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.99%	3.71%	-1.72%

Volatility

FXAIX vs. MIGNX - Volatility Comparison

Fidelity 500 Index Fund (FXAIX) and MFS Massachusetts Investors Growth Stock Fund Class R6 (MIGNX) have volatilities of 5.71% and 5.91%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FXAIX	MIGNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.71%	5.91%	-0.20%
Volatility (6M) Calculated over the trailing 6-month period	9.87%	10.07%	-0.20%
Volatility (1Y) Calculated over the trailing 1-year period	16.76%	16.68%	+0.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.94%	17.49%	-0.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.06%	18.19%	-0.13%

Dividends

FXAIX vs. MIGNX - Dividend Comparison

FXAIX's dividend yield for the trailing twelve months is around 0.87%, less than MIGNX's 11.90% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FXAIX Fidelity 500 Index Fund	0.87%	1.11%	1.25%	1.45%	1.69%	1.22%	1.60%	2.06%	2.72%	1.97%	2.52%	2.83%
MIGNX MFS Massachusetts Investors Growth Stock Fund Class R6	11.90%	11.15%	16.98%	4.25%	4.67%	10.36%	7.48%	7.46%	10.83%	7.02%	4.99%	6.73%