VFFIX vs. FGRTX

Last updated Jun 24, 2026

VFFIX (Victory INCORE Fund for Income Class I) and FGRTX (Fidelity Mega Cap Stock Fund) are both mutual funds - VFFIX is a Government Bonds fund managed by Victory, while FGRTX is a Large Cap Blend Equities fund actively managed by Fidelity. Over the past 10 years, VFFIX returned 1.39%/yr vs 16.84%/yr for FGRTX. At a correlation of -0.17, they often move in opposite directions. VFFIX charges 0.64%/yr vs 0.58%/yr for FGRTX.

Performance

VFFIX vs. FGRTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Victory INCORE Fund for Income Class I (VFFIX) 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, VFFIX achieves a 0.36% return, which is significantly lower than FGRTX's 9.28% return. Over the past 10 years, VFFIX has underperformed FGRTX with an annualized return of 1.39%, while FGRTX has yielded a comparatively higher 16.84% annualized return.

VFFIX

• 1D: -0.15%
• 1M: 0.11%
• YTD: 0.36%
• 6M: 0.51%
• 1Y: 3.05%
• 3Y*: 3.98%
• 5Y*: 1.39%
• 10Y*: 1.39%

FGRTX

• 1D: -0.76%
• 1M: -0.12%
• YTD: 9.28%
• 6M: 8.76%
• 1Y: 28.06%
• 3Y*: 25.10%
• 5Y*: 16.41%
• 10Y*: 16.84%

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

VFFIX vs. FGRTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VFFIX Victory INCORE Fund for Income Class I	0.36%	4.51%	4.48%	4.14%	-5.23%	-1.60%	3.05%	4.14%	1.24%	0.67%
FGRTX Fidelity Mega Cap Stock Fund	9.28%	26.92%	25.98%	26.51%	-8.98%	26.29%	12.96%	31.07%	-7.44%	16.98%

Correlation

The correlation between VFFIX and FGRTX is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.23
Correlation (3Y) Calculated over the trailing 3-year period	0.08
Correlation (5Y) Calculated over the trailing 5-year period	0.04
Correlation (10Y) Calculated over the trailing 10-year period	-0.10
Correlation (All Time) Calculated using the full available price history since Mar 1, 2011	-0.17

The correlation between VFFIX and FGRTX shifts across timeframes, from -0.17 (all time) to 0.23 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

VFFIX vs. FGRTX — Risk / Return Rank

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

VFFIX

VFFIX Risk / Return Rank: 62
VFFIX Sharpe Ratio Rank: 45
VFFIX Sortino Ratio Rank: 54
VFFIX Omega Ratio Rank: 72
VFFIX Calmar Ratio Rank: 74
VFFIX Martin Ratio Rank: 67

FGRTX

FGRTX Risk / Return Rank: 75
FGRTX Sharpe Ratio Rank: 76
FGRTX Sortino Ratio Rank: 71
FGRTX Omega Ratio Rank: 68
FGRTX Calmar Ratio Rank: 76
FGRTX Martin Ratio Rank: 83

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.

VFFIX vs. FGRTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Victory INCORE Fund for Income Class I (VFFIX) 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.

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.

	VFFIX	FGRTX	Difference
Sharpe ratio: Return per unit of total volatility	1.83	2.33	-0.50
Sortino ratio: Return per unit of downside risk	2.84	3.19	-0.35
Omega ratio: Gain probability vs. loss probability	1.43	1.42	+0.01
Calmar ratio: Return relative to maximum drawdown	3.20	3.24	-0.04
Martin ratio: Return relative to average drawdown	12.20	14.42	-2.21

VFFIX vs. FGRTX - Sharpe Ratio Comparison

The current VFFIX Sharpe Ratio is 1.83, which is comparable to the FGRTX Sharpe Ratio of 2.33. The chart below compares the historical Sharpe Ratios of VFFIX 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.

Drawdowns

VFFIX vs. FGRTX - Drawdown Comparison

The maximum VFFIX drawdown since its inception was -8.60%, smaller than the maximum FGRTX drawdown of -56.17%. Use the drawdown chart below to compare losses from any high point for VFFIX and FGRTX.

Drawdown Indicators

	VFFIX	FGRTX	Difference
Max Drawdown Largest peak-to-trough decline	-8.60%	-56.17%	+47.57%
Max Drawdown (1Y) Largest decline over 1 year	-1.00%	-8.99%	+7.99%
Max Drawdown (3Y) Largest decline over 3 years	-1.02%	-18.51%	+17.49%
Max Drawdown (5Y) Largest decline over 5 years	-8.01%	-23.35%	+15.34%
Max Drawdown (10Y) Largest decline over 10 years	-8.60%	-35.18%	+26.58%
Current Drawdown Current decline from peak	-0.47%	-1.41%	+0.94%
Average Drawdown Average peak-to-trough decline	-1.45%	-8.71%	+7.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.26%	2.02%	-1.76%

Volatility

VFFIX vs. FGRTX - Volatility Comparison

The current volatility for Victory INCORE Fund for Income Class I (VFFIX) is 0.49%, while Fidelity Mega Cap Stock Fund (FGRTX) has a volatility of 4.34%. This indicates that VFFIX 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

	VFFIX	FGRTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.49%	4.34%	-3.85%
Volatility (6M) Calculated over the trailing 6-month period	1.31%	9.69%	-8.38%
Volatility (1Y) Calculated over the trailing 1-year period	1.76%	12.56%	-10.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.53%	16.76%	-14.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.25%	18.15%	-15.90%

VFFIX vs. FGRTX - Expense Ratio Comparison

VFFIX has a 0.64% expense ratio, which is higher than FGRTX's 0.58% expense ratio.

Dividends

VFFIX vs. FGRTX - Dividend Comparison

VFFIX's dividend yield for the trailing twelve months is around 5.16%, more than FGRTX's 3.56% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FGRTX Fidelity Mega Cap Stock Fund	3.56%	3.89%	2.68%	2.06%	4.38%	4.79%	7.96%	12.98%	21.72%	15.57%	1.97%	4.16%
VFFIX Victory INCORE Fund for Income Class I	5.16%	4.43%	5.60%	5.67%	5.68%	5.15%	4.89%	5.41%	5.87%	5.50%	5.51%	5.37%

Frequently Asked Questions

Can I hold both VFFIX and FGRTX in my portfolio?

VFFIX and FGRTX have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VFFIX or FGRTX?

FGRTX has higher volatility (4.34%) compared to VFFIX (0.49%). In terms of maximum drawdown, VFFIX dropped -8.60% vs FGRTX's -56.17%.

Which has better risk-adjusted returns?

FGRTX currently has the higher Sharpe Ratio (2.33 vs 1.83), 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.