VLCAX vs. FDGRX

Last updated Aug 2, 2026

VLCAX (Vanguard Large-Cap Index Fund Admiral Shares) and FDGRX (Fidelity Growth Company Fund) are both mutual funds - VLCAX is a Large Cap Blend Equities fund tracking the CRSP US Large Cap Index, while FDGRX is a Large Cap Growth Equities fund actively managed by Fidelity. VLCAX is passively managed, while FDGRX is actively managed. Over the past 10 years, VLCAX returned 14.97%/yr vs 21.52%/yr for FDGRX. Their correlation of 0.91 means they have usually moved in the same direction. VLCAX charges 0.05%/yr vs 0.52%/yr for FDGRX.

Performance

VLCAX vs. FDGRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Large-Cap Index Fund Admiral Shares (VLCAX) 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, VLCAX achieves a 9.02% return, which is significantly lower than FDGRX's 15.01% return. Over the past 10 years, VLCAX has underperformed FDGRX with an annualized return of 14.97%, while FDGRX has yielded a comparatively higher 21.52% annualized return.

VLCAX

• 1D: 1.71%
• 1M: -0.63%
• 6M: 7.78%
• YTD: 9.02%
• 1Y: 20.12%
• 3Y*: 19.13%
• 5Y*: 12.21%
• 10Y*: 14.97%
• ALL TIME*: 10.81%

FDGRX

• 1D: 2.88%
• 1M: -4.50%
• 6M: 12.24%
• YTD: 15.01%
• 1Y: 27.79%
• 3Y*: 25.32%
• 5Y*: 13.97%
• 10Y*: 21.52%
• ALL TIME*: 14.94%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FDGRX Fidelity Growth Company Fund	$0.00	$0.00	$0.00
VLCAX Vanguard Large-Cap Index Fund Admiral Shares	$0.00	$0.00	$0.00

VLCAX vs. FDGRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VLCAX Vanguard Large-Cap Index Fund Admiral Shares	9.02%	18.09%	25.10%	27.26%	-19.69%	27.02%	21.03%	31.39%	-4.49%	22.02%
FDGRX Fidelity Growth Company Fund	15.01%	18.54%	37.18%	47.25%	-33.86%	22.57%	67.42%	38.40%	-4.14%	36.76%

Correlation

The correlation between VLCAX and FDGRX is 0.91, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.91
Correlation (3Y) Balances recent behavior with more history.	0.91
Correlation (5Y) Shows whether the relationship held over a longer period.	0.92
Correlation (10Y) Provides a long-term view across more market conditions.	0.89
Correlation (All Time) Calculated using the full available price history since Jan 30, 2004	0.91

The correlation between VLCAX and FDGRX has been stable across timeframes, ranging from 0.89 to 0.92 - a consistent structural relationship.

VLCAX vs. FDGRX - Sectors Allocation Comparison

Sectors	VLCAX	FDGRX
Technology	44.8%	55.4%
Communication Services	11.4%	13.4%
Financial Services	10.5%	2.9%
Consumer Cyclical	9.0%	10.8%
Healthcare	8.9%	11.0%
Industrials	6.0%	2.8%
Consumer Defensive	4.2%	2.5%
Utilities	1.4%	-
Energy	1.0%	0.5%
Basic Materials	1.0%	0.6%
Real Estate	0.8%	0.1%

Return for Risk

VLCAX vs. FDGRX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

VLCAX

VLCAX Risk / Return Rank: 58
VLCAX Sharpe Ratio Rank: 57
VLCAX Sortino Ratio Rank: 54
VLCAX Omega Ratio Rank: 54
VLCAX Calmar Ratio Rank: 59
VLCAX Martin Ratio Rank: 69

FDGRX

FDGRX Risk / Return Rank: 49
FDGRX Sharpe Ratio Rank: 46
FDGRX Sortino Ratio Rank: 42
FDGRX Omega Ratio Rank: 42
FDGRX Calmar Ratio Rank: 64
FDGRX Martin Ratio Rank: 51

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

VLCAX vs. FDGRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Large-Cap Index Fund Admiral Shares (VLCAX) 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.

	VLCAX	FDGRX	Difference
Sharpe ratio: Return per unit of total volatility	1.38	1.24	+0.14
Sortino ratio: Return per unit of downside risk	1.94	1.71	+0.22
Omega ratio: Gain probability vs. loss probability	1.25	1.22	+0.03
Calmar ratio: Return relative to maximum drawdown	1.95	2.04	-0.09
Martin ratio: Return relative to average drawdown	8.23	6.83	+1.40

VLCAX vs. FDGRX - Sharpe Ratio Comparison

The current VLCAX Sharpe Ratio is 1.38, which is comparable to the FDGRX Sharpe Ratio of 1.24. The chart below compares the historical Sharpe Ratios of VLCAX 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

VLCAX vs. FDGRX - Drawdown Comparison

The maximum VLCAX drawdown since its inception was -54.76%, smaller than the maximum FDGRX drawdown of -71.62%. Use the drawdown chart below to compare losses from any high point for VLCAX and FDGRX.

Drawdown Indicators

	VLCAX	FDGRX	Difference
Max Drawdown Largest peak-to-trough decline	-54.76%	-71.62%	+16.86%
Max Drawdown (1Y) Largest decline over 1 year	-9.19%	-12.60%	+3.41%
Max Drawdown (3Y) Largest decline over 3 years	-19.01%	-26.19%	+7.18%
Max Drawdown (5Y) Largest decline over 5 years	-25.65%	-40.25%	+14.60%
Max Drawdown (10Y) Largest decline over 10 years	-33.97%	-40.25%	+6.28%
Current Drawdown Current decline from peak	-2.21%	-7.06%	+4.85%
Average Drawdown Average peak-to-trough decline	-6.82%	-15.86%	+9.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.17%	3.74%	-1.57%

Volatility

VLCAX vs. FDGRX - Volatility Comparison

The current volatility for Vanguard Large-Cap Index Fund Admiral Shares (VLCAX) is 3.48%, while Fidelity Growth Company Fund (FDGRX) has a volatility of 6.23%. This indicates that VLCAX 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

	VLCAX	FDGRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.48%	6.23%	-2.75%
Volatility (6M) Calculated over the trailing 6-month period	10.19%	15.89%	-5.70%
Volatility (1Y) Calculated over the trailing 1-year period	12.96%	20.62%	-7.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.28%	24.26%	-6.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.21%	23.50%	-5.29%

VLCAX vs. FDGRX - Expense Ratio Comparison

VLCAX has a 0.05% expense ratio, which is lower than FDGRX's 0.52% expense ratio.

Dividends

VLCAX vs. FDGRX - Dividend Comparison

VLCAX's dividend yield for the trailing twelve months is around 1.02%, 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%
VLCAX Vanguard Large-Cap Index Fund Admiral Shares	1.02%	1.08%	1.23%	1.40%	1.66%	1.18%	1.45%	1.80%	2.08%	1.75%	1.98%	1.96%

Frequently Asked Questions

Can I hold both VLCAX and FDGRX in my portfolio?

With a correlation of 0.91, VLCAX and FDGRX 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.

Which is riskier, VLCAX or FDGRX?

FDGRX has higher volatility (6.23%) compared to VLCAX (3.48%). In terms of maximum drawdown, VLCAX dropped -54.76% vs FDGRX's -71.62%.

Which has better risk-adjusted returns?

VLCAX currently has the higher Sharpe Ratio (1.38 vs 1.24), 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.