JUST vs. FSPGX

Last updated Jun 4, 2026

JUST (Goldman Sachs JUST U.S. Large Cap Equity ETF) and FSPGX (Fidelity Large Cap Growth Index Fund) are both Large Cap Growth Equities funds. Over the past 5 years, JUST returned 13.24%/yr vs 16.03%/yr for FSPGX. Their correlation of 0.93 suggests significant overlap in exposure. JUST charges 0.20%/yr vs 0.04%/yr for FSPGX.

Performance

JUST vs. FSPGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Goldman Sachs JUST U.S. Large Cap Equity ETF (JUST) and Fidelity Large Cap Growth Index Fund (FSPGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JUST achieves a 11.64% return, which is significantly higher than FSPGX's 8.60% return.

JUST

• 1D: -0.74%
• 1M: 4.90%
• YTD: 11.64%
• 6M: 11.94%
• 1Y: 29.04%
• 3Y*: 22.10%
• 5Y*: 13.24%
• 10Y*: —

FSPGX

• 1D: -0.38%
• 1M: 7.10%
• YTD: 8.60%
• 6M: 7.98%
• 1Y: 27.43%
• 3Y*: 25.53%
• 5Y*: 16.03%
• 10Y*: —

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

JUST vs. FSPGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF	11.64%	17.60%	23.73%	24.86%	-17.88%	26.89%	19.59%	31.54%	-9.62%
FSPGX Fidelity Large Cap Growth Index Fund	8.60%	18.54%	33.27%	42.77%	-29.17%	27.57%	38.46%	36.38%	-10.36%

Correlation

The correlation between JUST and FSPGX is 0.90, 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	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (All Time) Calculated using the full available price history since Jun 14, 2018	0.93

The correlation between JUST and FSPGX has been stable across timeframes, ranging from 0.90 to 0.93 - a consistent structural relationship.

Return for Risk

JUST vs. FSPGX — Risk / Return Rank

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

JUST

JUST Risk / Return Rank: 74
JUST Sharpe Ratio Rank: 75
JUST Sortino Ratio Rank: 75
JUST Omega Ratio Rank: 73
JUST Calmar Ratio Rank: 67
JUST Martin Ratio Rank: 79

FSPGX

FSPGX Risk / Return Rank: 32
FSPGX Sharpe Ratio Rank: 41
FSPGX Sortino Ratio Rank: 36
FSPGX Omega Ratio Rank: 37
FSPGX Calmar Ratio Rank: 22
FSPGX Martin Ratio Rank: 23

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.

JUST vs. FSPGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Goldman Sachs JUST U.S. Large Cap Equity ETF (JUST) and Fidelity Large Cap Growth Index Fund (FSPGX). 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.

	JUST	FSPGX	Difference
Sharpe ratio: Return per unit of total volatility	2.46	1.85	+0.61
Sortino ratio: Return per unit of downside risk	3.38	2.50	+0.87
Omega ratio: Gain probability vs. loss probability	1.44	1.32	+0.12
Calmar ratio: Return relative to maximum drawdown	3.33	1.76	+1.57
Martin ratio: Return relative to average drawdown	15.48	5.90	+9.58
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JUST vs. FSPGX - Sharpe Ratio Comparison

The current JUST Sharpe Ratio is 2.46, which is higher than the FSPGX Sharpe Ratio of 1.85. The chart below compares the historical Sharpe Ratios of JUST and FSPGX, 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

	JUST	FSPGX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.46	1.85	+0.61
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.79	0.75	+0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.78	0.90	-0.12

Drawdowns

JUST vs. FSPGX - Drawdown Comparison

The maximum JUST drawdown since its inception was -33.83%, roughly equal to the maximum FSPGX drawdown of -32.66%. Use the drawdown chart below to compare losses from any high point for JUST and FSPGX.

Drawdown Indicators

	JUST	FSPGX	Difference
Max Drawdown Largest peak-to-trough decline	-33.83%	-32.66%	-1.17%
Max Drawdown (1Y) Largest decline over 1 year	-8.76%	-16.17%	+7.41%
Max Drawdown (3Y) Largest decline over 3 years	-19.34%	-23.32%	+3.98%
Max Drawdown (5Y) Largest decline over 5 years	-24.72%	-32.66%	+7.94%
Current Drawdown Current decline from peak	-0.74%	-0.38%	-0.36%
Average Drawdown Average peak-to-trough decline	-5.10%	-6.37%	+1.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.88%	4.81%	-2.93%

Volatility

JUST vs. FSPGX - Volatility Comparison

The current volatility for Goldman Sachs JUST U.S. Large Cap Equity ETF (JUST) is 2.94%, while Fidelity Large Cap Growth Index Fund (FSPGX) has a volatility of 3.32%. This indicates that JUST experiences smaller price fluctuations and is considered to be less risky than FSPGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JUST	FSPGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.94%	3.32%	-0.38%
Volatility (6M) Calculated over the trailing 6-month period	9.09%	11.58%	-2.49%
Volatility (1Y) Calculated over the trailing 1-year period	11.88%	15.39%	-3.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.78%	21.49%	-4.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.12%	21.55%	-2.43%

JUST vs. FSPGX - Expense Ratio Comparison

JUST has a 0.20% expense ratio, which is higher than FSPGX's 0.04% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

JUST vs. FSPGX - Dividend Comparison

JUST's dividend yield for the trailing twelve months is around 0.93%, more than FSPGX's 0.32% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FSPGX Fidelity Large Cap Growth Index Fund	0.32%	0.34%	0.37%	0.73%	0.86%	2.22%	1.76%	1.04%	1.32%	0.22%
JUST Goldman Sachs JUST U.S. Large Cap Equity ETF	0.93%	1.02%	1.11%	1.37%	1.51%	1.07%	1.36%	1.86%	1.11%	0.00%

Frequently Asked Questions

Can I hold both JUST and FSPGX in my portfolio?

With a correlation of 0.90, JUST and FSPGX 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, JUST or FSPGX?

FSPGX has higher volatility (3.32%) compared to JUST (2.94%). In terms of maximum drawdown, JUST dropped -33.83% vs FSPGX's -32.66%.

Which has better risk-adjusted returns?

JUST currently has the higher Sharpe Ratio (2.46 vs 1.85), 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.