VRGWX vs. FCGSX

Last updated Jul 14, 2026

VRGWX (Vanguard Russell 1000 Growth Index Fund Institutional Shares) and FCGSX (Fidelity Series Growth Company Fund) are both Large Cap Growth Equities funds. Over the past 10 years, VRGWX returned 18.55%/yr vs 24.37%/yr for FCGSX. Their correlation of 0.95 suggests significant overlap in exposure. VRGWX charges 0.05%/yr vs 0.00%/yr for FCGSX.

Performance

VRGWX vs. FCGSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Russell 1000 Growth Index Fund Institutional Shares (VRGWX) and Fidelity Series Growth Company Fund (FCGSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VRGWX achieves a 5.06% return, which is significantly lower than FCGSX's 23.29% return. Over the past 10 years, VRGWX has underperformed FCGSX with an annualized return of 18.55%, while FCGSX has yielded a comparatively higher 24.37% annualized return.

VRGWX

• 1D: 0.50%
• 1M: 2.01%
• 6M: 4.17%
• YTD: 5.06%
• 1Y: 16.52%
• 3Y*: 22.59%
• 5Y*: 13.89%
• 10Y*: 18.55%

FCGSX

• 1D: 0.15%
• 1M: 2.59%
• 6M: 20.42%
• YTD: 23.29%
• 1Y: 45.99%
• 3Y*: 32.99%
• 5Y*: 17.60%
• 10Y*: 24.37%

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

VRGWX vs. FCGSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VRGWX Vanguard Russell 1000 Growth Index Fund Institutional Shares	5.06%	18.32%	33.25%	42.65%	-29.18%	32.42%	38.38%	36.30%	-1.59%	30.11%
FCGSX Fidelity Series Growth Company Fund	23.29%	25.52%	38.00%	45.97%	-32.15%	25.13%	70.01%	39.75%	-4.03%	37.69%

Correlation

The correlation between VRGWX and FCGSX 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	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Nov 19, 2013	0.95

The correlation between VRGWX and FCGSX has been stable across timeframes, ranging from 0.93 to 0.97 - a consistent structural relationship.

Return for Risk

VRGWX vs. FCGSX — Risk / Return Rank

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

VRGWX

VRGWX Risk / Return Rank: 19
VRGWX Sharpe Ratio Rank: 21
VRGWX Sortino Ratio Rank: 21
VRGWX Omega Ratio Rank: 20
VRGWX Calmar Ratio Rank: 15
VRGWX Martin Ratio Rank: 17

FCGSX

FCGSX Risk / Return Rank: 88
FCGSX Sharpe Ratio Rank: 89
FCGSX Sortino Ratio Rank: 81
FCGSX Omega Ratio Rank: 80
FCGSX Calmar Ratio Rank: 94
FCGSX Martin Ratio Rank: 96

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.

VRGWX vs. FCGSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Russell 1000 Growth Index Fund Institutional Shares (VRGWX) and Fidelity Series Growth Company Fund (FCGSX). 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.

	VRGWX	FCGSX	Difference
Sharpe ratio: Return per unit of total volatility	0.98	2.39	-1.41
Sortino ratio: Return per unit of downside risk	1.42	3.06	-1.64
Omega ratio: Gain probability vs. loss probability	1.18	1.40	-0.22
Calmar ratio: Return relative to maximum drawdown	1.01	4.39	-3.38
Martin ratio: Return relative to average drawdown	3.19	18.49	-15.30

VRGWX vs. FCGSX - Sharpe Ratio Comparison

The current VRGWX Sharpe Ratio is 0.98, which is lower than the FCGSX Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of VRGWX and FCGSX, 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

VRGWX vs. FCGSX - Drawdown Comparison

The maximum VRGWX drawdown since its inception was -32.70%, smaller than the maximum FCGSX drawdown of -38.77%. Use the drawdown chart below to compare losses from any high point for VRGWX and FCGSX.

Drawdown Indicators

	VRGWX	FCGSX	Difference
Max Drawdown Largest peak-to-trough decline	-32.70%	-38.77%	+6.07%
Max Drawdown (1Y) Largest decline over 1 year	-16.19%	-10.42%	-5.77%
Max Drawdown (3Y) Largest decline over 3 years	-23.44%	-26.07%	+2.63%
Max Drawdown (5Y) Largest decline over 5 years	-32.70%	-38.77%	+6.07%
Max Drawdown (10Y) Largest decline over 10 years	-32.70%	-38.77%	+6.07%
Current Drawdown Current decline from peak	-3.61%	-0.97%	-2.64%
Average Drawdown Average peak-to-trough decline	-4.88%	-6.93%	+2.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.09%	2.47%	+2.62%

Volatility

VRGWX vs. FCGSX - Volatility Comparison

The current volatility for Vanguard Russell 1000 Growth Index Fund Institutional Shares (VRGWX) is 6.52%, while Fidelity Series Growth Company Fund (FCGSX) has a volatility of 7.27%. This indicates that VRGWX experiences smaller price fluctuations and is considered to be less risky than FCGSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VRGWX	FCGSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.52%	7.27%	-0.75%
Volatility (6M) Calculated over the trailing 6-month period	13.30%	15.16%	-1.86%
Volatility (1Y) Calculated over the trailing 1-year period	16.61%	19.15%	-2.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.82%	23.90%	-2.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.21%	23.30%	-2.09%

VRGWX vs. FCGSX - Expense Ratio Comparison

VRGWX has a 0.05% expense ratio, which is higher than FCGSX's 0.00% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

VRGWX vs. FCGSX - Dividend Comparison

VRGWX's dividend yield for the trailing twelve months is around 0.46%, less than FCGSX's 8.50% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FCGSX Fidelity Series Growth Company Fund	8.50%	10.48%	12.49%	3.13%	0.61%	38.65%	31.99%	11.06%	13.21%	10.51%	2.44%	0.25%
VRGWX Vanguard Russell 1000 Growth Index Fund Institutional Shares	0.46%	0.35%	0.56%	0.71%	0.99%	4.18%	0.77%	1.03%	1.22%	1.22%	1.52%	1.51%

Frequently Asked Questions

Can I hold both VRGWX and FCGSX in my portfolio?

With a correlation of 0.93, VRGWX and FCGSX 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, VRGWX or FCGSX?

FCGSX has higher volatility (7.27%) compared to VRGWX (6.52%). In terms of maximum drawdown, VRGWX dropped -32.70% vs FCGSX's -38.77%.

Which has better risk-adjusted returns?

FCGSX currently has the higher Sharpe Ratio (2.39 vs 0.98), 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.