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TRULX vs. FEQHX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

TRULX vs. FEQHX

Last updated Jun 26, 2026

TRULX (T. Rowe Price US Large-Cap Core) and FEQHX (Fidelity Hedged Equity Fund) are both Large Cap Blend Equities funds. Both are actively managed. Over the past 3 years, TRULX returned 18.35%/yr vs 16.16%/yr for FEQHX. Their correlation of 0.93 suggests significant overlap in exposure. TRULX charges 0.64%/yr vs 0.55%/yr for FEQHX.

Performance

TRULX vs. FEQHX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price US Large-Cap Core (TRULX) and Fidelity Hedged Equity Fund (FEQHX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

The year-to-date returns for both stocks are quite close, with TRULX having a 6.68% return and FEQHX slightly lower at 6.38%.

TRULX

1D
0.28%
1M
-1.65%
YTD
6.68%
6M
5.60%
1Y
16.40%
3Y*
18.35%
5Y*
11.10%
10Y*
13.61%

FEQHX

1D
-0.19%
1M
-2.34%
YTD
6.38%
6M
5.11%
1Y
16.36%
3Y*
16.16%
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

TRULX vs. FEQHX - Yearly Performance Comparison

2026 (YTD)2025202420232022
TRULX
T. Rowe Price US Large-Cap Core		6.68%12.80%22.97%22.61%-1.00%
FEQHX
Fidelity Hedged Equity Fund		6.38%13.61%19.46%17.65%-4.85%

Correlation

The correlation between TRULX and FEQHX is 0.93, 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

0.93

Correlation (3Y)
Calculated over the trailing 3-year period

0.93

Correlation (All Time)
Calculated using the full available price history since Sep 8, 2022

0.93

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

Compare stocks, funds, or ETFs

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T. Rowe Price US Large-Cap Core

Fidelity Hedged Equity Fund

Often compared with TRULX:
TRULX vs. FBGRXTRULX vs. SPYTRULX vs. TRRNXTRULX vs. SCHGTRULX vs. TRAIXTRULX vs. SCHXTRULX vs. PRISX
Often compared with FEQHX:
FEQHX vs. BDMAXFEQHX vs. JDIEXFEQHX vs. INGIXFEQHX vs. AGRDXFEQHX vs. BFSAXFEQHX vs. VDIGXFEQHX vs. VOO

Return for Risk

TRULX vs. FEQHX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
TRULX
TRULX Risk / Return Rank: 3737
Overall Rank
TRULX Sharpe Ratio Rank: 3636
Sharpe Ratio Rank
TRULX Sortino Ratio Rank: 3434
Sortino Ratio Rank
TRULX Omega Ratio Rank: 3636
Omega Ratio Rank
TRULX Calmar Ratio Rank: 3535
Calmar Ratio Rank
TRULX Martin Ratio Rank: 4646
Martin Ratio Rank
FEQHX
FEQHX Risk / Return Rank: 4545
Overall Rank
FEQHX Sharpe Ratio Rank: 4747
Sharpe Ratio Rank
FEQHX Sortino Ratio Rank: 4545
Sortino Ratio Rank
FEQHX Omega Ratio Rank: 4545
Omega Ratio Rank
FEQHX Calmar Ratio Rank: 4444
Calmar Ratio Rank
FEQHX Martin Ratio Rank: 4646
Martin Ratio Rank
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.

TRULX vs. FEQHX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price US Large-Cap Core (TRULX) and Fidelity Hedged Equity Fund (FEQHX). 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.

TRULXFEQHXDifference
Sharpe ratioReturn per unit of total volatility
1.45
1.67

-0.22

Sortino ratioReturn per unit of downside risk
2.04
2.34

-0.30

Omega ratioGain probability vs. loss probability

1.27

1.30

-0.03

Calmar ratioReturn relative to maximum drawdown

1.92

2.20

-0.28

Martin ratioReturn relative to average drawdown

8.44

8.37

+0.07

TRULX vs. FEQHX - Sharpe Ratio Comparison

The current TRULX Sharpe Ratio is 1.45, which is comparable to the FEQHX Sharpe Ratio of 1.67. The chart below compares the historical Sharpe Ratios of TRULX and FEQHX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

TRULX vs. FEQHX - Drawdown Comparison

The maximum TRULX drawdown since its inception was -33.68%, which is greater than FEQHX's maximum drawdown of -10.42%. Use the drawdown chart below to compare losses from any high point for TRULX and FEQHX.

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Drawdown Indicators

TRULXFEQHXDifference

Max Drawdown

Largest peak-to-trough decline

-33.68%

-10.42%

-23.26%

Max Drawdown (1Y)

Largest decline over 1 year

-8.57%

-7.40%

-1.17%

Max Drawdown (3Y)

Largest decline over 3 years

-17.23%

-10.42%

-6.81%

Max Drawdown (5Y)

Largest decline over 5 years

-22.91%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-33.68%

—

—

Current Drawdown

Current decline from peak

-2.23%

-3.30%

+1.07%

Average Drawdown

Average peak-to-trough decline

-3.64%

-2.22%

-1.42%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.94%

1.94%

0.00%

Volatility

TRULX vs. FEQHX - Volatility Comparison

The current volatility for T. Rowe Price US Large-Cap Core (TRULX) is 3.82%, while Fidelity Hedged Equity Fund (FEQHX) has a volatility of 4.10%. This indicates that TRULX experiences smaller price fluctuations and is considered to be less risky than FEQHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

TRULXFEQHXDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.82%

4.10%

-0.28%

Volatility (6M)

Calculated over the trailing 6-month period

8.95%

7.50%

+1.45%

Volatility (1Y)

Calculated over the trailing 1-year period

11.37%

9.79%

+1.58%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.02%

11.33%

+4.69%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.98%

11.33%

+5.65%

TRULX vs. FEQHX - Expense Ratio Comparison

TRULX has a 0.64% expense ratio, which is higher than FEQHX's 0.55% expense ratio.

Dividends

TRULX vs. FEQHX - Dividend Comparison

TRULX's dividend yield for the trailing twelve months is around 7.29%, more than FEQHX's 0.52% yield.

PositionTTM20252024202320222021202020192018201720162015
FEQHX
Fidelity Hedged Equity Fund		0.52%0.43%0.61%0.77%0.37%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
TRULX
T. Rowe Price US Large-Cap Core		7.29%7.77%6.66%0.45%4.27%7.28%0.85%3.55%7.89%2.10%0.94%5.23%

Frequently Asked Questions

With a correlation of 0.93, TRULX and FEQHX 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.

FEQHX has higher volatility (4.10%) compared to TRULX (3.82%). In terms of maximum drawdown, TRULX dropped -33.68% vs FEQHX's -10.42%.

FEQHX currently has the higher Sharpe Ratio (1.67 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.

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