LMISX vs. FGRTX

Last updated Jun 24, 2026

LMISX (Franklin U.S. Large Cap Equity Fund) and FGRTX (Fidelity Mega Cap Stock Fund) are both Large Cap Blend Equities funds. Over the past 10 years, LMISX returned 15.60%/yr vs 16.84%/yr for FGRTX. Their correlation of 0.94 suggests significant overlap in exposure. LMISX charges 0.70%/yr vs 0.58%/yr for FGRTX.

Performance

LMISX vs. FGRTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin U.S. Large Cap Equity Fund (LMISX) and Fidelity Mega Cap Stock Fund (FGRTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LMISX achieves a 9.85% return, which is significantly higher than FGRTX's 9.28% return. Over the past 10 years, LMISX has underperformed FGRTX with an annualized return of 15.60%, while FGRTX has yielded a comparatively higher 16.84% annualized return.

LMISX

• 1D: -0.24%
• 1M: 1.45%
• YTD: 9.85%
• 6M: 8.55%
• 1Y: 28.37%
• 3Y*: 23.89%
• 5Y*: 13.93%
• 10Y*: 15.60%

FGRTX

• 1D: -0.76%
• 1M: -0.12%
• YTD: 9.28%
• 6M: 8.76%
• 1Y: 28.06%
• 3Y*: 25.10%
• 5Y*: 16.41%
• 10Y*: 16.84%

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

LMISX vs. FGRTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LMISX Franklin U.S. Large Cap Equity Fund	9.85%	18.05%	29.58%	27.88%	-20.61%	31.69%	17.20%	25.95%	-7.57%	23.50%
FGRTX Fidelity Mega Cap Stock Fund	9.28%	26.92%	25.98%	26.51%	-8.98%	26.29%	12.96%	31.07%	-7.44%	16.98%

Correlation

The correlation between LMISX and FGRTX is 0.92, 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	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (10Y) Calculated over the trailing 10-year period	0.92
Correlation (All Time) Calculated using the full available price history since Apr 30, 2008	0.94

The correlation between LMISX and FGRTX has been stable across timeframes, ranging from 0.92 to 0.94 - a consistent structural relationship.

Return for Risk

LMISX vs. FGRTX — Risk / Return Rank

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

LMISX

LMISX Risk / Return Rank: 76
LMISX Sharpe Ratio Rank: 77
LMISX Sortino Ratio Rank: 72
LMISX Omega Ratio Rank: 67
LMISX Calmar Ratio Rank: 79
LMISX Martin Ratio Rank: 87

FGRTX

FGRTX Risk / Return Rank: 75
FGRTX Sharpe Ratio Rank: 76
FGRTX Sortino Ratio Rank: 71
FGRTX Omega Ratio Rank: 68
FGRTX Calmar Ratio Rank: 76
FGRTX Martin Ratio Rank: 83

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.

LMISX vs. FGRTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin U.S. Large Cap Equity Fund (LMISX) and Fidelity Mega Cap Stock Fund (FGRTX). 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.

	LMISX	FGRTX	Difference
Sharpe ratio: Return per unit of total volatility	2.36	2.33	+0.03
Sortino ratio: Return per unit of downside risk	3.22	3.19	+0.03
Omega ratio: Gain probability vs. loss probability	1.42	1.42	0.00
Calmar ratio: Return relative to maximum drawdown	3.41	3.24	+0.16
Martin ratio: Return relative to average drawdown	15.48	14.42	+1.06

LMISX vs. FGRTX - Sharpe Ratio Comparison

The current LMISX Sharpe Ratio is 2.36, which is comparable to the FGRTX Sharpe Ratio of 2.33. The chart below compares the historical Sharpe Ratios of LMISX and FGRTX, 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

LMISX vs. FGRTX - Drawdown Comparison

The maximum LMISX drawdown since its inception was -50.34%, smaller than the maximum FGRTX drawdown of -56.17%. Use the drawdown chart below to compare losses from any high point for LMISX and FGRTX.

Drawdown Indicators

	LMISX	FGRTX	Difference
Max Drawdown Largest peak-to-trough decline	-50.34%	-56.17%	+5.83%
Max Drawdown (1Y) Largest decline over 1 year	-8.69%	-8.99%	+0.30%
Max Drawdown (3Y) Largest decline over 3 years	-20.22%	-18.51%	-1.71%
Max Drawdown (5Y) Largest decline over 5 years	-26.11%	-23.35%	-2.76%
Max Drawdown (10Y) Largest decline over 10 years	-35.27%	-35.18%	-0.09%
Current Drawdown Current decline from peak	-1.17%	-1.41%	+0.24%
Average Drawdown Average peak-to-trough decline	-7.59%	-8.71%	+1.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.91%	2.02%	-0.11%

Volatility

LMISX vs. FGRTX - Volatility Comparison

Franklin U.S. Large Cap Equity Fund (LMISX) has a higher volatility of 4.82% compared to Fidelity Mega Cap Stock Fund (FGRTX) at 4.34%. This indicates that LMISX's price experiences larger fluctuations and is considered to be riskier than FGRTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LMISX	FGRTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.82%	4.34%	+0.48%
Volatility (6M) Calculated over the trailing 6-month period	9.84%	9.69%	+0.15%
Volatility (1Y) Calculated over the trailing 1-year period	12.57%	12.56%	+0.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.75%	16.76%	+0.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.83%	18.15%	+0.68%

LMISX vs. FGRTX - Expense Ratio Comparison

LMISX has a 0.70% expense ratio, which is higher than FGRTX's 0.58% expense ratio.

Dividends

LMISX vs. FGRTX - Dividend Comparison

LMISX's dividend yield for the trailing twelve months is around 5.36%, more than FGRTX's 3.56% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FGRTX Fidelity Mega Cap Stock Fund	3.56%	3.89%	2.68%	2.06%	4.38%	4.79%	7.96%	12.98%	21.72%	15.57%	1.97%	4.16%
LMISX Franklin U.S. Large Cap Equity Fund	5.36%	4.11%	3.97%	7.68%	0.95%	25.55%	3.53%	8.42%	17.16%	6.53%	1.42%	6.23%

Frequently Asked Questions

Can I hold both LMISX and FGRTX in my portfolio?

With a correlation of 0.92, LMISX and FGRTX 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, LMISX or FGRTX?

LMISX has higher volatility (4.82%) compared to FGRTX (4.34%). In terms of maximum drawdown, LMISX dropped -50.34% vs FGRTX's -56.17%.

Which has better risk-adjusted returns?

LMISX currently has the higher Sharpe Ratio (2.36 vs 2.33), 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.