SPFZX vs. FFLG

Last updated Aug 1, 2026

SPFZX (PGIM Jennison Focused Growth Fund) and FFLG (Fidelity Fundamental Large Cap Growth ETF) are both Large Cap Growth Equities funds. Over the past 5 years, SPFZX returned 7.24%/yr vs 9.07%/yr for FFLG. Their correlation of 0.94 means they have usually moved in the same direction. SPFZX charges 0.75%/yr vs 0.38%/yr for FFLG.

Performance

SPFZX vs. FFLG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM Jennison Focused Growth Fund (SPFZX) and Fidelity Fundamental Large Cap Growth ETF (FFLG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPFZX achieves a 1.30% return, which is significantly lower than FFLG's 6.61% return.

SPFZX

• 1D: 2.58%
• 1M: -2.68%
• 6M: 4.08%
• YTD: 1.30%
• 1Y: 9.01%
• 3Y*: 19.11%
• 5Y*: 7.24%
• 10Y*: 17.15%
• ALL TIME*: 9.73%

FFLG

• 1D: 1.11%
• 1M: -3.89%
• 6M: 6.18%
• YTD: 6.61%
• 1Y: 17.84%
• 3Y*: 21.43%
• 5Y*: 9.07%
• 10Y*: —
• ALL TIME*: 9.02%

*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)
FFLG Fidelity Fundamental Large Cap Growth ETF	$2.78M	$5.96M	$4.00M
SPFZX PGIM Jennison Focused Growth Fund	$0.00	$0.00	$0.00

SPFZX vs. FFLG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
SPFZX PGIM Jennison Focused Growth Fund	1.30%	16.15%	31.90%	52.74%	-40.55%	2.01%
FFLG Fidelity Fundamental Large Cap Growth ETF	6.61%	19.61%	32.29%	49.71%	-37.86%	2.32%

Correlation

The correlation between SPFZX and FFLG is 0.93, 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.	0.93
Correlation (3Y) Balances recent behavior with more history.	0.93
Correlation (5Y) Shows whether the relationship held over a longer period.	0.94
Correlation (All Time) Calculated using the full available price history since Feb 4, 2021	0.94

The correlation between SPFZX and FFLG has been stable across timeframes, ranging from 0.93 to 0.94 - a consistent structural relationship.

Return for Risk

SPFZX vs. FFLG — Risk / Return Rank

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

SPFZX

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

FFLG

FFLG Risk / Return Rank: 30
FFLG Sharpe Ratio Rank: 29
FFLG Sortino Ratio Rank: 29
FFLG Omega Ratio Rank: 28
FFLG Calmar Ratio Rank: 32
FFLG Martin Ratio Rank: 35

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.

SPFZX vs. FFLG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM Jennison Focused Growth Fund (SPFZX) and Fidelity Fundamental Large Cap Growth ETF (FFLG). 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.

	SPFZX	FFLG	Difference
Sharpe ratio: Return per unit of total volatility	0.38	0.70	-0.32
Sortino ratio: Return per unit of downside risk	0.64	1.08	-0.44
Omega ratio: Gain probability vs. loss probability	1.08	1.13	-0.05
Calmar ratio: Return relative to maximum drawdown	0.37	1.05	-0.68
Martin ratio: Return relative to average drawdown	1.07	3.39	-2.32

SPFZX vs. FFLG - Sharpe Ratio Comparison

The current SPFZX Sharpe Ratio is 0.38, which is lower than the FFLG Sharpe Ratio of 0.70. The chart below compares the historical Sharpe Ratios of SPFZX and FFLG, 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

SPFZX vs. FFLG - Drawdown Comparison

The maximum SPFZX drawdown since its inception was -50.87%, which is greater than FFLG's maximum drawdown of -44.52%. Use the drawdown chart below to compare losses from any high point for SPFZX and FFLG.

Drawdown Indicators

	SPFZX	FFLG	Difference
Max Drawdown Largest peak-to-trough decline	-50.87%	-44.52%	-6.35%
Max Drawdown (1Y) Largest decline over 1 year	-18.97%	-14.23%	-4.74%
Max Drawdown (3Y) Largest decline over 3 years	-24.77%	-26.72%	+1.95%
Max Drawdown (5Y) Largest decline over 5 years	-48.70%	-44.52%	-4.18%
Max Drawdown (10Y) Largest decline over 10 years	-48.70%	—	—
Current Drawdown Current decline from peak	-7.68%	-9.30%	+1.62%
Average Drawdown Average peak-to-trough decline	-14.55%	-14.01%	-0.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.50%	4.40%	+2.10%

Volatility

SPFZX vs. FFLG - Volatility Comparison

The current volatility for PGIM Jennison Focused Growth Fund (SPFZX) is 5.54%, while Fidelity Fundamental Large Cap Growth ETF (FFLG) has a volatility of 7.67%. This indicates that SPFZX experiences smaller price fluctuations and is considered to be less risky than FFLG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPFZX	FFLG	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.54%	7.67%	-2.13%
Volatility (6M) Calculated over the trailing 6-month period	14.78%	17.51%	-2.73%
Volatility (1Y) Calculated over the trailing 1-year period	18.58%	21.35%	-2.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.95%	25.76%	+0.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.13%	25.51%	-0.38%

SPFZX vs. FFLG - Expense Ratio Comparison

SPFZX has a 0.75% expense ratio, which is higher than FFLG's 0.38% expense ratio.

Dividends

SPFZX vs. FFLG - Dividend Comparison

SPFZX's dividend yield for the trailing twelve months is around 3.67%, more than FFLG's 0.14% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FFLG Fidelity Fundamental Large Cap Growth ETF	0.14%	0.14%	0.09%	0.00%	1.50%	0.55%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPFZX PGIM Jennison Focused Growth Fund	3.67%	3.72%	0.00%	0.00%	0.00%	14.24%	8.03%	10.64%	10.65%	10.91%	10.23%	11.93%

Frequently Asked Questions

Can I hold both SPFZX and FFLG in my portfolio?

With a correlation of 0.93, SPFZX and FFLG 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, SPFZX or FFLG?

FFLG has higher volatility (7.67%) compared to SPFZX (5.54%). In terms of maximum drawdown, SPFZX dropped -50.87% vs FFLG's -44.52%.

Which has better risk-adjusted returns?

FFLG currently has the higher Sharpe Ratio (0.70 vs 0.38), 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.