VIOV vs. FDGRX

Last updated Jun 18, 2026

VIOV (Vanguard S&P Small-Cap 600 Value ETF) and FDGRX (Fidelity Growth Company Fund) are both funds - VIOV is a Small Cap Value Equities fund tracking the S&P SmallCap 600 Value Index, while FDGRX is a Large Cap Growth Equities fund actively managed by Fidelity. VIOV is passively managed, while FDGRX is actively managed. Over the past 10 years, VIOV returned 10.38%/yr vs 23.23%/yr for FDGRX. A 0.62 correlation means they provide meaningful diversification when combined. VIOV charges 0.10%/yr vs 0.52%/yr for FDGRX.

Performance

VIOV vs. FDGRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard S&P Small-Cap 600 Value ETF (VIOV) 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, VIOV achieves a 16.31% return, which is significantly lower than FDGRX's 22.31% return. Over the past 10 years, VIOV has underperformed FDGRX with an annualized return of 10.38%, while FDGRX has yielded a comparatively higher 23.23% annualized return.

VIOV

• 1D: -1.76%
• 1M: 4.42%
• YTD: 16.31%
• 6M: 14.80%
• 1Y: 38.30%
• 3Y*: 13.81%
• 5Y*: 7.06%
• 10Y*: 10.38%

FDGRX

• 1D: -1.17%
• 1M: 3.47%
• YTD: 22.31%
• 6M: 20.57%
• 1Y: 46.04%
• 3Y*: 29.83%
• 5Y*: 16.15%
• 10Y*: 23.23%

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

VIOV vs. FDGRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VIOV Vanguard S&P Small-Cap 600 Value ETF	16.31%	6.63%	7.44%	15.36%	-11.37%	30.67%	2.81%	24.44%	-12.85%	11.54%
FDGRX Fidelity Growth Company Fund	22.31%	18.54%	37.18%	47.25%	-33.86%	22.57%	67.42%	38.40%	-4.14%	36.76%

Correlation

The correlation between VIOV and FDGRX is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (3Y) Calculated over the trailing 3-year period	0.51
Correlation (5Y) Calculated over the trailing 5-year period	0.60
Correlation (10Y) Calculated over the trailing 10-year period	0.57
Correlation (All Time) Calculated using the full available price history since Sep 9, 2010	0.62

The correlation between VIOV and FDGRX shifts across timeframes, from 0.49 (1 year) to 0.62 (all time), reflecting how their relationship changes across market environments.

VIOV vs. FDGRX - Sectors Allocation Comparison

Sectors	VIOV	FDGRX
Financial Services	19.8%	3.0%
Consumer Cyclical	15.4%	11.5%
Industrials	12.7%	2.7%
Technology	10.6%	53.5%
Energy	9.1%	0.5%
Real Estate	8.8%	0.2%
Healthcare	7.5%	11.3%
Basic Materials	6.3%	0.6%
Consumer Defensive	3.8%	2.6%
Communication Services	3.4%	14.1%
Utilities	1.9%	-

Return for Risk

VIOV vs. FDGRX — Risk / Return Rank

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

VIOV

VIOV Risk / Return Rank: 73
VIOV Sharpe Ratio Rank: 70
VIOV Sortino Ratio Rank: 72
VIOV Omega Ratio Rank: 64
VIOV Calmar Ratio Rank: 83
VIOV Martin Ratio Rank: 76

FDGRX

FDGRX Risk / Return Rank: 68
FDGRX Sharpe Ratio Rank: 74
FDGRX Sortino Ratio Rank: 54
FDGRX Omega Ratio Rank: 59
FDGRX Calmar Ratio Rank: 81
FDGRX Martin Ratio Rank: 73

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.

VIOV vs. FDGRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard S&P Small-Cap 600 Value ETF (VIOV) 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.

	VIOV	FDGRX	Difference
Sharpe ratio: Return per unit of total volatility	2.09	2.34	-0.24
Sortino ratio: Return per unit of downside risk	2.99	2.90	+0.09
Omega ratio: Gain probability vs. loss probability	1.36	1.40	-0.04
Calmar ratio: Return relative to maximum drawdown	4.13	3.60	+0.52
Martin ratio: Return relative to average drawdown	13.53	13.24	+0.29

VIOV vs. FDGRX - Sharpe Ratio Comparison

The current VIOV Sharpe Ratio is 2.09, which is comparable to the FDGRX Sharpe Ratio of 2.34. The chart below compares the historical Sharpe Ratios of VIOV 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

VIOV vs. FDGRX - Drawdown Comparison

The maximum VIOV drawdown since its inception was -47.36%, smaller than the maximum FDGRX drawdown of -71.62%. Use the drawdown chart below to compare losses from any high point for VIOV and FDGRX.

Drawdown Indicators

	VIOV	FDGRX	Difference
Max Drawdown Largest peak-to-trough decline	-47.36%	-71.62%	+24.26%
Max Drawdown (1Y) Largest decline over 1 year	-9.33%	-12.60%	+3.27%
Max Drawdown (3Y) Largest decline over 3 years	-28.44%	-26.19%	-2.25%
Max Drawdown (5Y) Largest decline over 5 years	-28.44%	-40.25%	+11.81%
Max Drawdown (10Y) Largest decline over 10 years	-47.36%	-40.25%	-7.11%
Current Drawdown Current decline from peak	-2.61%	-1.17%	-1.44%
Average Drawdown Average peak-to-trough decline	-7.36%	-15.89%	+8.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.84%	3.42%	-0.58%

Volatility

VIOV vs. FDGRX - Volatility Comparison

The current volatility for Vanguard S&P Small-Cap 600 Value ETF (VIOV) is 5.15%, while Fidelity Growth Company Fund (FDGRX) has a volatility of 7.29%. This indicates that VIOV experiences smaller price fluctuations and is considered to be less risky than FDGRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VIOV	FDGRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.15%	7.29%	-2.14%
Volatility (6M) Calculated over the trailing 6-month period	11.78%	15.82%	-4.04%
Volatility (1Y) Calculated over the trailing 1-year period	18.44%	19.47%	-1.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.95%	24.09%	-2.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.90%	23.47%	+0.43%

VIOV vs. FDGRX - Expense Ratio Comparison

VIOV has a 0.10% expense ratio, which is lower than FDGRX's 0.52% expense ratio.

Dividends

VIOV vs. FDGRX - Dividend Comparison

VIOV's dividend yield for the trailing twelve months is around 1.58%, 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%
VIOV Vanguard S&P Small-Cap 600 Value ETF	1.58%	1.69%	1.78%	2.18%	1.81%	1.59%	1.42%	1.60%	1.76%	1.43%	1.17%	1.32%

Frequently Asked Questions

Can I hold both VIOV and FDGRX in my portfolio?

VIOV and FDGRX have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VIOV or FDGRX?

FDGRX has higher volatility (7.29%) compared to VIOV (5.15%). In terms of maximum drawdown, VIOV dropped -47.36% vs FDGRX's -71.62%.

Which has better risk-adjusted returns?

FDGRX currently has the higher Sharpe Ratio (2.34 vs 2.09), 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.