TGRW vs. FSST

Last updated Jun 24, 2026

TGRW (T. Rowe Price Growth Stock ETF) and FSST (Fidelity Sustainability U.S. Equity ETF) are both exchange-traded funds - TGRW is a Large Cap Growth Equities fund actively managed by T. Rowe Price, while FSST is a Sustainable fund tracking the Russell 3000. TGRW is actively managed, while FSST is passively managed. Their correlation of 0.83 suggests significant overlap in exposure. TGRW charges 0.52%/yr vs 0.59%/yr for FSST.

Performance

TGRW vs. FSST - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Growth Stock ETF (TGRW) and Fidelity Sustainability U.S. Equity ETF (FSST). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TGRW

• 1D: -1.34%
• 1M: -3.27%
• YTD: 0.74%
• 6M: -0.34%
• 1Y: 15.30%
• 3Y*: 19.72%
• 5Y*: 7.54%
• 10Y*: —

FSST

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TGRW vs. FSST - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
TGRW T. Rowe Price Growth Stock ETF	0.74%	15.62%	29.94%	48.87%	-38.42%	7.09%
FSST Fidelity Sustainability U.S. Equity ETF	0.00%	15.40%	21.40%	25.49%	-18.30%	12.52%

Correlation

The correlation between TGRW and FSST is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.45
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.83
Correlation (All Time) Calculated using the full available price history since Jun 17, 2021	0.83

Over the past year, the correlation between TGRW and FSST has dropped to 0.45 - well below their long-term average of 0.83, suggesting their price drivers have been diverging.

TGRW vs. FSST - Sectors Allocation Comparison

Sectors	TGRW	FSST
Technology	52.6%	29.6%
Communication Services	16.5%	11.7%
Consumer Cyclical	13.1%	11.5%
Healthcare	6.6%	10.2%
Financial Services	5.2%	12.1%
Industrials	4.1%	13.0%
Consumer Defensive	0.8%	4.6%
Basic Materials	0.6%	3.4%
Real Estate	0.6%	1.3%
Energy	-	1.9%
Utilities	-	0.9%

Return for Risk

TGRW vs. FSST — Risk / Return Rank

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

TGRW

TGRW Risk / Return Rank: 23
TGRW Sharpe Ratio Rank: 26
TGRW Sortino Ratio Rank: 25
TGRW Omega Ratio Rank: 24
TGRW Calmar Ratio Rank: 19
TGRW Martin Ratio Rank: 22

FSST

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

TGRW vs. FSST - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Growth Stock ETF (TGRW) and Fidelity Sustainability U.S. Equity ETF (FSST). 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.

	TGRW	FSST	Difference
Sharpe ratio: Return per unit of total volatility	0.88	—	—
Sortino ratio: Return per unit of downside risk	1.30	—	—
Omega ratio: Gain probability vs. loss probability	1.16	—	—
Calmar ratio: Return relative to maximum drawdown	0.82	—	—
Martin ratio: Return relative to average drawdown	2.53	—	—

Drawdowns

Drawdown Indicators

	TGRW	FSST	Difference
Max Drawdown Largest peak-to-trough decline	-43.33%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-18.84%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-23.18%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-43.33%	—	—
Current Drawdown Current decline from peak	-6.51%	—	—
Average Drawdown Average peak-to-trough decline	-12.40%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	6.05%	—	—

Volatility

Volatility by Period

	TGRW	FSST	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.40%	—	—
Volatility (6M) Calculated over the trailing 6-month period	13.54%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	17.40%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.40%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.04%	—	—

TGRW vs. FSST - Expense Ratio Comparison

TGRW has a 0.52% expense ratio, which is lower than FSST's 0.59% expense ratio.

Dividends

TGRW vs. FSST - Dividend Comparison

Neither TGRW nor FSST has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020
FSST Fidelity Sustainability U.S. Equity ETF	0.10%	0.19%	2.01%	0.68%	1.00%	0.34%	0.00%
TGRW T. Rowe Price Growth Stock ETF	0.00%	0.00%	0.00%	0.01%	0.00%	0.40%	0.21%

Frequently Asked Questions

Can I hold both TGRW and FSST in my portfolio?

TGRW and FSST have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TGRW or FSST?

On fees, TGRW is cheaper at 0.52% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TGRW or FSST?

TGRW is cheaper with a 0.52% expense ratio, compared with 0.59% for FSST.

Which ETF pays a higher dividend yield, TGRW or FSST?

FSST has the higher dividend yield at 0.10%, compared with 0.00% for TGRW.

What is the main difference between TGRW and FSST?

TGRW is categorized as Large Cap Growth Equities, while FSST is Sustainable. They also come from different issuers: T. Rowe Price and Fidelity. Their fees differ too: 0.52% for TGRW and 0.59% for FSST.