FZAHX vs. VRGWX

Last updated Aug 5, 2026

FZAHX (Fidelity Advisor Growth Opportunities Fund Class Z) and VRGWX (Vanguard Russell 1000 Growth Index Fund Institutional Shares) are both Large Cap Growth Equities funds. Over the past 10 years, FZAHX returned 21.60%/yr vs 18.01%/yr for VRGWX. Their correlation of 0.94 means they have usually moved in the same direction. FZAHX charges 0.67%/yr vs 0.05%/yr for VRGWX.

Performance

FZAHX vs. VRGWX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Growth Opportunities Fund Class Z (FZAHX) and Vanguard Russell 1000 Growth Index Fund Institutional Shares (VRGWX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FZAHX achieves a 11.88% return, which is significantly higher than VRGWX's 2.47% return. Over the past 10 years, FZAHX has outperformed VRGWX with an annualized return of 21.60%, while VRGWX has yielded a comparatively lower 18.01% annualized return.

FZAHX

• 1D: 2.85%
• 1M: -1.50%
• 6M: 14.16%
• YTD: 11.88%
• 1Y: 20.48%
• 3Y*: 27.70%
• 5Y*: 10.95%
• 10Y*: 21.60%
• ALL TIME*: 19.09%

VRGWX

• 1D: 2.16%
• 1M: -0.32%
• 6M: 5.59%
• YTD: 2.47%
• 1Y: 10.34%
• 3Y*: 21.23%
• 5Y*: 12.97%
• 10Y*: 18.01%
• ALL TIME*: 16.76%

*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)
FZAHX Fidelity Advisor Growth Opportunities Fund Class Z	$0.00	$0.00	$0.00
VRGWX Vanguard Russell 1000 Growth Index Fund Institutional Shares	$0.00	$0.00	$0.00

FZAHX vs. VRGWX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FZAHX Fidelity Advisor Growth Opportunities Fund Class Z	11.88%	22.61%	39.23%	45.70%	-38.18%	11.74%	69.25%	40.80%	15.25%	35.10%
VRGWX Vanguard Russell 1000 Growth Index Fund Institutional Shares	2.47%	18.32%	33.25%	42.65%	-29.18%	32.42%	38.38%	36.30%	-1.59%	30.11%

Correlation

The correlation between FZAHX and VRGWX is 0.94, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.94
Correlation (3Y) Balances recent behavior with more history.	0.95
Correlation (5Y) Shows whether the relationship held over a longer period.	0.95
Correlation (10Y) Provides a long-term view across more market conditions.	0.94
Correlation (All Time) Calculated using the full available price history since Aug 20, 2013	0.94

The correlation between FZAHX and VRGWX has been stable across timeframes, ranging from 0.94 to 0.95 - a consistent structural relationship.

Return for Risk

FZAHX vs. VRGWX — Risk / Return Rank

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

FZAHX

FZAHX Risk / Return Rank: 29
FZAHX Sharpe Ratio Rank: 29
FZAHX Sortino Ratio Rank: 28
FZAHX Omega Ratio Rank: 28
FZAHX Calmar Ratio Rank: 30
FZAHX Martin Ratio Rank: 31

VRGWX

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

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.

FZAHX vs. VRGWX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Growth Opportunities Fund Class Z (FZAHX) and Vanguard Russell 1000 Growth Index Fund Institutional Shares (VRGWX). 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.

	FZAHX	VRGWX	Difference
Sharpe ratio: Return per unit of total volatility	1.07	0.72	+0.36
Sortino ratio: Return per unit of downside risk	1.56	1.09	+0.47
Omega ratio: Gain probability vs. loss probability	1.19	1.13	+0.06
Calmar ratio: Return relative to maximum drawdown	1.44	0.78	+0.67
Martin ratio: Return relative to average drawdown	4.93	2.31	+2.62

FZAHX vs. VRGWX - Sharpe Ratio Comparison

The current FZAHX Sharpe Ratio is 1.07, which is higher than the VRGWX Sharpe Ratio of 0.72. The chart below compares the historical Sharpe Ratios of FZAHX and VRGWX, 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

FZAHX vs. VRGWX - Drawdown Comparison

The maximum FZAHX drawdown since its inception was -44.45%, which is greater than VRGWX's maximum drawdown of -32.70%. Use the drawdown chart below to compare losses from any high point for FZAHX and VRGWX.

Drawdown Indicators

	FZAHX	VRGWX	Difference
Max Drawdown Largest peak-to-trough decline	-44.45%	-32.70%	-11.75%
Max Drawdown (1Y) Largest decline over 1 year	-16.06%	-16.19%	+0.13%
Max Drawdown (3Y) Largest decline over 3 years	-26.58%	-23.44%	-3.14%
Max Drawdown (5Y) Largest decline over 5 years	-44.45%	-32.70%	-11.75%
Max Drawdown (10Y) Largest decline over 10 years	-44.45%	-32.70%	-11.75%
Current Drawdown Current decline from peak	-4.43%	-5.98%	+1.55%
Average Drawdown Average peak-to-trough decline	-8.16%	-4.89%	-3.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.69%	5.42%	-0.73%

Volatility

FZAHX vs. VRGWX - Volatility Comparison

Fidelity Advisor Growth Opportunities Fund Class Z (FZAHX) has a higher volatility of 8.38% compared to Vanguard Russell 1000 Growth Index Fund Institutional Shares (VRGWX) at 6.70%. This indicates that FZAHX's price experiences larger fluctuations and is considered to be riskier than VRGWX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FZAHX	VRGWX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.38%	6.70%	+1.68%
Volatility (6M) Calculated over the trailing 6-month period	18.01%	14.20%	+3.81%
Volatility (1Y) Calculated over the trailing 1-year period	21.60%	17.57%	+4.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.36%	21.96%	+3.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.12%	21.31%	+2.81%

FZAHX vs. VRGWX - Expense Ratio Comparison

FZAHX has a 0.67% expense ratio, which is higher than VRGWX's 0.05% expense ratio.

Dividends

FZAHX vs. VRGWX - Dividend Comparison

FZAHX's dividend yield for the trailing twelve months is around 3.22%, more than VRGWX's 0.48% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FZAHX Fidelity Advisor Growth Opportunities Fund Class Z	3.22%	3.61%	0.00%	0.00%	0.00%	9.45%	5.15%	3.74%	11.00%	7.50%	14.42%	10.52%
VRGWX Vanguard Russell 1000 Growth Index Fund Institutional Shares	0.48%	0.35%	0.56%	0.71%	0.99%	4.18%	0.77%	1.03%	1.22%	1.22%	1.52%	1.51%

Frequently Asked Questions

Can I hold both FZAHX and VRGWX in my portfolio?

With a correlation of 0.94, FZAHX and VRGWX 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, FZAHX or VRGWX?

FZAHX has higher volatility (8.38%) compared to VRGWX (6.70%). In terms of maximum drawdown, FZAHX dropped -44.45% vs VRGWX's -32.70%.

Which has better risk-adjusted returns?

FZAHX currently has the higher Sharpe Ratio (1.07 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.