SPXT vs. FGRTX

Last updated Jun 9, 2026

SPXT (ProShares S&P 500 Ex-Technology ETF) and FGRTX (Fidelity Mega Cap Stock Fund) are both funds - SPXT is a S&P 500 fund tracking the S&P 500 Ex-Information Technology Index, while FGRTX is a Large Cap Blend Equities fund actively managed by Fidelity. SPXT is passively managed, while FGRTX is actively managed. Over the past 10 years, SPXT returned 11.31%/yr vs 16.16%/yr for FGRTX. A 0.75 correlation means they provide meaningful diversification when combined. SPXT charges 0.09%/yr vs 0.58%/yr for FGRTX.

Performance

SPXT vs. FGRTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares S&P 500 Ex-Technology ETF (SPXT) 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, SPXT achieves a 3.18% return, which is significantly lower than FGRTX's 8.13% return. Over the past 10 years, SPXT has underperformed FGRTX with an annualized return of 11.31%, while FGRTX has yielded a comparatively higher 16.16% annualized return.

SPXT

• 1D: -0.54%
• 1M: -1.24%
• YTD: 3.18%
• 6M: 4.93%
• 1Y: 14.96%
• 3Y*: 16.16%
• 5Y*: 9.30%
• 10Y*: 11.31%

FGRTX

• 1D: -2.11%
• 1M: -0.65%
• YTD: 8.13%
• 6M: 9.72%
• 1Y: 27.40%
• 3Y*: 24.66%
• 5Y*: 15.67%
• 10Y*: 16.16%

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

SPXT vs. FGRTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPXT ProShares S&P 500 Ex-Technology ETF	3.18%	15.10%	19.93%	16.23%	-14.24%	26.36%	10.44%	26.88%	-7.06%	16.99%
FGRTX Fidelity Mega Cap Stock Fund	8.13%	26.92%	25.98%	26.51%	-8.98%	26.29%	12.96%	31.07%	-7.44%	16.98%

Correlation

The correlation between SPXT and FGRTX is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.77
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (5Y) Calculated over the trailing 5-year period	0.88
Correlation (10Y) Calculated over the trailing 10-year period	0.79
Correlation (All Time) Calculated using the full available price history since Sep 24, 2015	0.75

The correlation between SPXT and FGRTX shifts across timeframes, from 0.75 (all time) to 0.88 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

SPXT vs. FGRTX — Risk / Return Rank

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

SPXT

SPXT Risk / Return Rank: 46
SPXT Sharpe Ratio Rank: 46
SPXT Sortino Ratio Rank: 47
SPXT Omega Ratio Rank: 44
SPXT Calmar Ratio Rank: 42
SPXT Martin Ratio Rank: 53

FGRTX

FGRTX Risk / Return Rank: 70
FGRTX Sharpe Ratio Rank: 69
FGRTX Sortino Ratio Rank: 63
FGRTX Omega Ratio Rank: 63
FGRTX Calmar Ratio Rank: 73
FGRTX Martin Ratio Rank: 81

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.

SPXT vs. FGRTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares S&P 500 Ex-Technology ETF (SPXT) 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.

	SPXT	FGRTX	Difference
Sharpe ratio: Return per unit of total volatility	1.45	2.35	-0.90
Sortino ratio: Return per unit of downside risk	2.10	3.21	-1.11
Omega ratio: Gain probability vs. loss probability	1.25	1.42	-0.17
Calmar ratio: Return relative to maximum drawdown	1.90	3.20	-1.30
Martin ratio: Return relative to average drawdown	8.25	14.48	-6.23
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPXT vs. FGRTX - Sharpe Ratio Comparison

The current SPXT Sharpe Ratio is 1.45, which is lower than the FGRTX Sharpe Ratio of 2.35. The chart below compares the historical Sharpe Ratios of SPXT 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.

Sharpe Ratios by Period

	SPXT	FGRTX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.45	2.35	-0.90
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.63	0.94	-0.31
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.70	0.89	-0.19
Sharpe Ratio (All Time) Calculated using the full available price history	0.73	0.47	+0.26

Drawdowns

SPXT vs. FGRTX - Drawdown Comparison

The maximum SPXT drawdown since its inception was -34.38%, smaller than the maximum FGRTX drawdown of -56.17%. Use the drawdown chart below to compare losses from any high point for SPXT and FGRTX.

Drawdown Indicators

	SPXT	FGRTX	Difference
Max Drawdown Largest peak-to-trough decline	-34.38%	-56.17%	+21.79%
Max Drawdown (1Y) Largest decline over 1 year	-7.90%	-8.99%	+1.09%
Max Drawdown (3Y) Largest decline over 3 years	-15.58%	-18.51%	+2.93%
Max Drawdown (5Y) Largest decline over 5 years	-21.47%	-23.35%	+1.88%
Max Drawdown (10Y) Largest decline over 10 years	-34.38%	-35.18%	+0.80%
Current Drawdown Current decline from peak	-2.06%	-2.45%	+0.39%
Average Drawdown Average peak-to-trough decline	-4.14%	-8.72%	+4.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.82%	1.98%	-0.16%

Volatility

SPXT vs. FGRTX - Volatility Comparison

The current volatility for ProShares S&P 500 Ex-Technology ETF (SPXT) is 2.80%, while Fidelity Mega Cap Stock Fund (FGRTX) has a volatility of 3.39%. This indicates that SPXT experiences smaller price fluctuations and is considered to be less risky than FGRTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPXT	FGRTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.80%	3.39%	-0.59%
Volatility (6M) Calculated over the trailing 6-month period	7.69%	9.38%	-1.69%
Volatility (1Y) Calculated over the trailing 1-year period	10.39%	12.25%	-1.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.73%	16.73%	-2.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.24%	18.13%	-1.89%

SPXT vs. FGRTX - Expense Ratio Comparison

SPXT has a 0.09% expense ratio, which is lower than FGRTX's 0.58% expense ratio.

Dividends

SPXT vs. FGRTX - Dividend Comparison

SPXT's dividend yield for the trailing twelve months is around 1.38%, less than FGRTX's 3.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FGRTX Fidelity Mega Cap Stock Fund	3.60%	3.89%	2.68%	2.06%	4.38%	4.79%	7.96%	12.98%	21.72%	15.57%	1.97%	4.16%
SPXT ProShares S&P 500 Ex-Technology ETF	1.38%	1.38%	1.29%	1.53%	1.86%	1.15%	1.63%	1.63%	2.03%	1.55%	2.67%	0.56%

Frequently Asked Questions

Can I hold both SPXT and FGRTX in my portfolio?

SPXT and FGRTX have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPXT or FGRTX?

FGRTX has higher volatility (3.39%) compared to SPXT (2.80%). In terms of maximum drawdown, SPXT dropped -34.38% vs FGRTX's -56.17%.

Which has better risk-adjusted returns?

FGRTX currently has the higher Sharpe Ratio (2.35 vs 1.45), 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.