TPLGX vs. FXAIX
TPLGX (T. Rowe Price Institutional Large Cap Core Growth Fund) and FXAIX (Fidelity 500 Index Fund) are both mutual funds - TPLGX is a Large Cap Growth Equities fund managed by T. Rowe Price, while FXAIX is a S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, TPLGX returned 16.70%/yr vs 15.80%/yr for FXAIX. Their correlation of 0.90 suggests significant overlap in exposure. TPLGX charges 0.57%/yr vs 0.02%/yr for FXAIX.
Performance
TPLGX vs. FXAIX - Performance Comparison
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Returns By Period
In the year-to-date period, TPLGX achieves a 0.30% return, which is significantly lower than FXAIX's 9.79% return. Over the past 10 years, TPLGX has outperformed FXAIX with an annualized return of 16.70%, while FXAIX has yielded a comparatively lower 15.80% annualized return.
TPLGX
- 1D
- -1.59%
- 1M
- -3.18%
- YTD
- 0.30%
- 6M
- -0.83%
- 1Y
- 15.07%
- 3Y*
- 22.04%
- 5Y*
- 9.33%
- 10Y*
- 16.70%
FXAIX
- 1D
- -0.37%
- 1M
- 0.10%
- YTD
- 9.79%
- 6M
- 8.79%
- 1Y
- 25.51%
- 3Y*
- 21.39%
- 5Y*
- 13.60%
- 10Y*
- 15.80%
TPLGX vs. FXAIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TPLGX T. Rowe Price Institutional Large Cap Core Growth Fund | 0.30% | 18.66% | 35.22% | 49.63% | -38.49% | 17.84% | 34.70% | 30.15% | 2.18% | 36.49% |
FXAIX Fidelity 500 Index Fund | 9.79% | 17.84% | 25.01% | 26.29% | -18.14% | 28.71% | 18.42% | 31.48% | -4.43% | 21.82% |
Correlation
The correlation between TPLGX and FXAIX is 0.86, 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 | 0.86 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.87 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.90 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.89 |
Correlation (All Time) Calculated using the full available price history since May 4, 2011 | 0.90 |
The correlation between TPLGX and FXAIX has been stable across timeframes, ranging from 0.86 to 0.90 - a consistent structural relationship.
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Return for Risk
TPLGX vs. FXAIX — Risk / Return Rank
TPLGX
FXAIX
TPLGX vs. FXAIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Institutional Large Cap Core Growth Fund (TPLGX) and Fidelity 500 Index Fund (FXAIX). 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.
| TPLGX | FXAIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.16 | ||
| Sortino ratioReturn per unit of downside risk | -1.47 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.39 | -0.21 |
| Calmar ratioReturn relative to maximum drawdown | 0.96 | 3.02 | -2.06 |
| Martin ratioReturn relative to average drawdown | 3.13 | 13.62 | -10.50 |
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Drawdowns
TPLGX vs. FXAIX - Drawdown Comparison
The maximum TPLGX drawdown since its inception was -54.57%, which is greater than FXAIX's maximum drawdown of -33.79%. Use the drawdown chart below to compare losses from any high point for TPLGX and FXAIX.
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Drawdown Indicators
| TPLGX | FXAIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -54.57% | -33.79% | -20.78% |
Max Drawdown (1Y)Largest decline over 1 year | -17.15% | -8.89% | -8.26% |
Max Drawdown (3Y)Largest decline over 3 years | -28.23% | -18.76% | -9.47% |
Max Drawdown (5Y)Largest decline over 5 years | -43.45% | -24.50% | -18.95% |
Max Drawdown (10Y)Largest decline over 10 years | -43.45% | -33.79% | -9.66% |
Current DrawdownCurrent decline from peak | -5.57% | -1.72% | -3.85% |
Average DrawdownAverage peak-to-trough decline | -8.66% | -3.79% | -4.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.25% | 1.97% | +3.28% |
Volatility
TPLGX vs. FXAIX - Volatility Comparison
T. Rowe Price Institutional Large Cap Core Growth Fund (TPLGX) has a higher volatility of 6.44% compared to Fidelity 500 Index Fund (FXAIX) at 4.68%. This indicates that TPLGX's price experiences larger fluctuations and is considered to be riskier than FXAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TPLGX | FXAIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.44% | 4.68% | +1.76% |
Volatility (6M)Calculated over the trailing 6-month period | 13.18% | 9.84% | +3.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.59% | 12.50% | +4.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.42% | 17.00% | +7.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.98% | 18.12% | +4.86% |
TPLGX vs. FXAIX - Expense Ratio Comparison
TPLGX has a 0.57% expense ratio, which is higher than FXAIX's 0.02% expense ratio.
Dividends
TPLGX vs. FXAIX - Dividend Comparison
TPLGX's dividend yield for the trailing twelve months is around 20.24%, more than FXAIX's 1.04% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FXAIX Fidelity 500 Index Fund | 1.04% | 1.11% | 1.25% | 1.45% | 1.69% | 1.22% | 1.60% | 2.06% | 2.72% | 1.97% | 2.52% | 2.83% |
TPLGX T. Rowe Price Institutional Large Cap Core Growth Fund | 20.24% | 20.30% | 12.87% | 3.70% | 4.39% | 8.81% | 0.59% | 0.60% | 1.65% | 1.39% | 0.25% | 0.44% |
Frequently Asked Questions
TPLGX and FXAIX have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TPLGX has higher volatility (6.44%) compared to FXAIX (4.68%). In terms of maximum drawdown, TPLGX dropped -54.57% vs FXAIX's -33.79%.
FXAIX currently has the higher Sharpe Ratio (2.15 vs 0.99), 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.
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