SBLGX vs. FRAAX

Last updated Jun 5, 2026

SBLGX (ClearBridge Large Cap Growth Fund) and FRAAX (Franklin Growth Opportunities Fund) are both Large Cap Growth Equities funds from Franklin Templeton. Over the past 10 years, SBLGX returned 14.37%/yr vs 14.89%/yr for FRAAX. Their correlation of 0.90 suggests significant overlap in exposure. SBLGX charges 0.99%/yr vs 0.65%/yr for FRAAX.

Performance

SBLGX vs. FRAAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ClearBridge Large Cap Growth Fund (SBLGX) and Franklin Growth Opportunities Fund (FRAAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SBLGX achieves a 4.27% return, which is significantly lower than FRAAX's 10.86% return. Both investments have delivered pretty close results over the past 10 years, with SBLGX having a 14.37% annualized return and FRAAX not far ahead at 14.89%.

SBLGX

• 1D: -1.54%
• 1M: 4.43%
• YTD: 4.27%
• 6M: 3.64%
• 1Y: 10.99%
• 3Y*: 18.41%
• 5Y*: 9.86%
• 10Y*: 14.37%

FRAAX

• 1D: -0.50%
• 1M: 6.39%
• YTD: 10.86%
• 6M: 10.17%
• 1Y: 17.78%
• 3Y*: 20.78%
• 5Y*: 7.13%
• 10Y*: 14.89%

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

SBLGX vs. FRAAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SBLGX ClearBridge Large Cap Growth Fund	4.27%	8.44%	27.60%	45.00%	-32.96%	21.71%	30.84%	31.69%	-0.44%	25.06%
FRAAX Franklin Growth Opportunities Fund	10.86%	8.35%	26.35%	39.92%	-36.97%	9.71%	45.79%	46.13%	-1.10%	29.12%

Correlation

The correlation between SBLGX and FRAAX 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	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Jun 24, 1999	0.90

The correlation between SBLGX and FRAAX has been stable across timeframes, ranging from 0.90 to 0.96 - a consistent structural relationship.

Return for Risk

SBLGX vs. FRAAX — Risk / Return Rank

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

SBLGX

SBLGX Risk / Return Rank: 9
SBLGX Sharpe Ratio Rank: 10
SBLGX Sortino Ratio Rank: 9
SBLGX Omega Ratio Rank: 9
SBLGX Calmar Ratio Rank: 7
SBLGX Martin Ratio Rank: 8

FRAAX

FRAAX Risk / Return Rank: 16
FRAAX Sharpe Ratio Rank: 18
FRAAX Sortino Ratio Rank: 17
FRAAX Omega Ratio Rank: 17
FRAAX Calmar Ratio Rank: 13
FRAAX Martin Ratio Rank: 15

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.

SBLGX vs. FRAAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ClearBridge Large Cap Growth Fund (SBLGX) and Franklin Growth Opportunities Fund (FRAAX). 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.

	SBLGX	FRAAX	Difference
Sharpe ratio: Return per unit of total volatility	0.77	1.18	-0.41
Sortino ratio: Return per unit of downside risk	1.12	1.68	-0.56
Omega ratio: Gain probability vs. loss probability	1.14	1.21	-0.07
Calmar ratio: Return relative to maximum drawdown	0.69	1.19	-0.50
Martin ratio: Return relative to average drawdown	2.10	3.96	-1.86
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SBLGX vs. FRAAX - Sharpe Ratio Comparison

The current SBLGX Sharpe Ratio is 0.77, which is lower than the FRAAX Sharpe Ratio of 1.18. The chart below compares the historical Sharpe Ratios of SBLGX and FRAAX, 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

	SBLGX	FRAAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.77	1.18	-0.41
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.47	0.31	+0.16
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.70	0.66	+0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.48	0.42	+0.06

Drawdowns

SBLGX vs. FRAAX - Drawdown Comparison

The maximum SBLGX drawdown since its inception was -53.64%, smaller than the maximum FRAAX drawdown of -78.63%. Use the drawdown chart below to compare losses from any high point for SBLGX and FRAAX.

Drawdown Indicators

	SBLGX	FRAAX	Difference
Max Drawdown Largest peak-to-trough decline	-53.64%	-78.63%	+24.99%
Max Drawdown (1Y) Largest decline over 1 year	-16.95%	-15.75%	-1.20%
Max Drawdown (3Y) Largest decline over 3 years	-20.98%	-25.26%	+4.28%
Max Drawdown (5Y) Largest decline over 5 years	-38.28%	-47.54%	+9.26%
Max Drawdown (10Y) Largest decline over 10 years	-38.28%	-47.54%	+9.26%
Current Drawdown Current decline from peak	-2.13%	-0.50%	-1.63%
Average Drawdown Average peak-to-trough decline	-12.91%	-29.10%	+16.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.53%	4.71%	+0.82%

Volatility

SBLGX vs. FRAAX - Volatility Comparison

ClearBridge Large Cap Growth Fund (SBLGX) and Franklin Growth Opportunities Fund (FRAAX) have volatilities of 4.02% and 3.89%, 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

	SBLGX	FRAAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.02%	3.89%	+0.13%
Volatility (6M) Calculated over the trailing 6-month period	11.63%	12.32%	-0.69%
Volatility (1Y) Calculated over the trailing 1-year period	15.18%	15.90%	-0.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.16%	23.20%	-2.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.45%	22.50%	-2.05%

SBLGX vs. FRAAX - Expense Ratio Comparison

SBLGX has a 0.99% expense ratio, which is higher than FRAAX's 0.65% expense ratio.

Dividends

SBLGX vs. FRAAX - Dividend Comparison

SBLGX's dividend yield for the trailing twelve months is around 12.16%, less than FRAAX's 14.90% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FRAAX Franklin Growth Opportunities Fund	14.90%	16.52%	9.57%	11.80%	4.31%	0.48%	5.29%	16.03%	12.10%	8.13%	1.97%	1.93%
SBLGX ClearBridge Large Cap Growth Fund	12.16%	12.68%	5.39%	12.39%	9.34%	12.48%	6.17%	5.12%	4.00%	4.41%	2.08%	2.94%

Frequently Asked Questions

Can I hold both SBLGX and FRAAX in my portfolio?

With a correlation of 0.92, SBLGX and FRAAX 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, SBLGX or FRAAX?

SBLGX has higher volatility (4.02%) compared to FRAAX (3.89%). In terms of maximum drawdown, SBLGX dropped -53.64% vs FRAAX's -78.63%.

Which has better risk-adjusted returns?

FRAAX currently has the higher Sharpe Ratio (1.18 vs 0.77), 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.