VHCAX vs. FDGRX

Last updated Jun 25, 2026

VHCAX (Vanguard Capital Opportunity Fund Admiral Shares) and FDGRX (Fidelity Growth Company Fund) are both Large Cap Growth Equities funds. Over the past 10 years, VHCAX returned 17.80%/yr vs 23.15%/yr for FDGRX. Their correlation of 0.92 suggests significant overlap in exposure. VHCAX charges 0.36%/yr vs 0.52%/yr for FDGRX.

Performance

VHCAX vs. FDGRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Capital Opportunity Fund Admiral Shares (VHCAX) and Fidelity Growth Company Fund (FDGRX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VHCAX achieves a 24.44% return, which is significantly higher than FDGRX's 18.88% return. Over the past 10 years, VHCAX has underperformed FDGRX with an annualized return of 17.80%, while FDGRX has yielded a comparatively higher 23.15% annualized return.

VHCAX

• 1D: -3.00%
• 1M: 5.11%
• YTD: 24.44%
• 6M: 22.59%
• 1Y: 50.04%
• 3Y*: 25.91%
• 5Y*: 13.68%
• 10Y*: 17.80%

FDGRX

• 1D: -2.32%
• 1M: -1.22%
• YTD: 18.88%
• 6M: 11.60%
• 1Y: 39.13%
• 3Y*: 29.09%
• 5Y*: 15.02%
• 10Y*: 23.15%

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

VHCAX vs. FDGRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VHCAX Vanguard Capital Opportunity Fund Admiral Shares	24.44%	25.83%	14.07%	25.63%	-17.56%	20.92%	22.83%	27.30%	-3.71%	28.37%
FDGRX Fidelity Growth Company Fund	18.88%	18.54%	37.18%	47.25%	-33.86%	22.57%	67.42%	38.40%	-4.14%	36.76%

Correlation

The correlation between VHCAX and FDGRX is 0.81, 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	0.81
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	0.87
Correlation (All Time) Calculated using the full available price history since Nov 12, 2001	0.92

The correlation between VHCAX and FDGRX shifts across timeframes, from 0.81 (1 year) to 0.92 (all time), reflecting how their relationship changes across market environments.

VHCAX vs. FDGRX - Sectors Allocation Comparison

Sectors	VHCAX	FDGRX
Technology	33.1%	53.5%
Healthcare	24.9%	11.3%
Industrials	10.7%	2.7%
Consumer Cyclical	9.8%	11.5%
Financial Services	8.2%	3.0%
Communication Services	6.5%	14.1%
Energy	2.2%	0.5%
Consumer Defensive	0.9%	2.6%
Basic Materials	0.4%	0.6%
Real Estate	0.1%	0.2%
Utilities	-	-

Return for Risk

VHCAX vs. FDGRX — Risk / Return Rank

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

VHCAX

VHCAX Risk / Return Rank: 88
VHCAX Sharpe Ratio Rank: 91
VHCAX Sortino Ratio Rank: 85
VHCAX Omega Ratio Rank: 83
VHCAX Calmar Ratio Rank: 89
VHCAX Martin Ratio Rank: 93

FDGRX

FDGRX Risk / Return Rank: 61
FDGRX Sharpe Ratio Rank: 62
FDGRX Sortino Ratio Rank: 47
FDGRX Omega Ratio Rank: 51
FDGRX Calmar Ratio Rank: 77
FDGRX Martin Ratio Rank: 67

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.

VHCAX vs. FDGRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Capital Opportunity Fund Admiral Shares (VHCAX) and Fidelity Growth Company Fund (FDGRX). 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.

	VHCAX	FDGRX	Difference
Sharpe ratio: Return per unit of total volatility	2.81	2.12	+0.69
Sortino ratio: Return per unit of downside risk	3.70	2.67	+1.03
Omega ratio: Gain probability vs. loss probability	1.50	1.36	+0.14
Calmar ratio: Return relative to maximum drawdown	4.24	3.32	+0.92
Martin ratio: Return relative to average drawdown	18.67	12.14	+6.53

VHCAX vs. FDGRX - Sharpe Ratio Comparison

The current VHCAX Sharpe Ratio is 2.81, which is higher than the FDGRX Sharpe Ratio of 2.12. The chart below compares the historical Sharpe Ratios of VHCAX and FDGRX, 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

VHCAX vs. FDGRX - Drawdown Comparison

The maximum VHCAX drawdown since its inception was -54.27%, smaller than the maximum FDGRX drawdown of -71.62%. Use the drawdown chart below to compare losses from any high point for VHCAX and FDGRX.

Drawdown Indicators

	VHCAX	FDGRX	Difference
Max Drawdown Largest peak-to-trough decline	-54.27%	-71.62%	+17.35%
Max Drawdown (1Y) Largest decline over 1 year	-12.42%	-12.60%	+0.18%
Max Drawdown (3Y) Largest decline over 3 years	-23.92%	-26.19%	+2.27%
Max Drawdown (5Y) Largest decline over 5 years	-27.55%	-40.25%	+12.70%
Max Drawdown (10Y) Largest decline over 10 years	-33.78%	-40.25%	+6.47%
Current Drawdown Current decline from peak	-3.00%	-3.94%	+0.94%
Average Drawdown Average peak-to-trough decline	-8.39%	-15.89%	+7.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.82%	3.43%	-0.61%

Volatility

VHCAX vs. FDGRX - Volatility Comparison

Vanguard Capital Opportunity Fund Admiral Shares (VHCAX) has a higher volatility of 9.08% compared to Fidelity Growth Company Fund (FDGRX) at 7.79%. This indicates that VHCAX's price experiences larger fluctuations and is considered to be riskier than FDGRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VHCAX	FDGRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.08%	7.79%	+1.29%
Volatility (6M) Calculated over the trailing 6-month period	15.81%	15.93%	-0.12%
Volatility (1Y) Calculated over the trailing 1-year period	18.73%	19.72%	-0.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.14%	24.13%	-3.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.42%	23.46%	-3.04%

VHCAX vs. FDGRX - Expense Ratio Comparison

VHCAX has a 0.36% expense ratio, which is lower than FDGRX's 0.52% expense ratio.

Dividends

VHCAX vs. FDGRX - Dividend Comparison

VHCAX's dividend yield for the trailing twelve months is around 7.81%, while FDGRX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDGRX Fidelity Growth Company Fund	0.00%	0.00%	8.86%	3.83%	7.20%	10.67%	8.86%	3.84%	6.38%	4.73%	6.16%	3.92%
VHCAX Vanguard Capital Opportunity Fund Admiral Shares	7.81%	9.71%	8.24%	2.40%	9.35%	10.55%	9.19%	6.48%	12.23%	3.87%	5.74%	5.39%

Frequently Asked Questions

Can I hold both VHCAX and FDGRX in my portfolio?

VHCAX and FDGRX have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VHCAX or FDGRX?

VHCAX has higher volatility (9.08%) compared to FDGRX (7.79%). In terms of maximum drawdown, VHCAX dropped -54.27% vs FDGRX's -71.62%.

Which has better risk-adjusted returns?

VHCAX currently has the higher Sharpe Ratio (2.81 vs 2.12), 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.