VSGIX vs. FDGRX

Last updated Jun 23, 2026

VSGIX (Vanguard Small-Cap Growth Index Fund Institutional Shares) and FDGRX (Fidelity Growth Company Fund) are both mutual funds - VSGIX is a Small Cap Growth Equities fund managed by Vanguard, while FDGRX is a Large Cap Growth Equities fund actively managed by Fidelity. Over the past 10 years, VSGIX returned 11.90%/yr vs 23.19%/yr for FDGRX. Their correlation of 0.89 suggests significant overlap in exposure. VSGIX charges 0.06%/yr vs 0.52%/yr for FDGRX.

Performance

VSGIX vs. FDGRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Small-Cap Growth Index Fund Institutional Shares (VSGIX) 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, VSGIX achieves a 18.39% return, which is significantly lower than FDGRX's 23.00% return. Over the past 10 years, VSGIX has underperformed FDGRX with an annualized return of 11.90%, while FDGRX has yielded a comparatively higher 23.19% annualized return.

VSGIX

• 1D: 2.00%
• 1M: 2.79%
• YTD: 18.39%
• 6M: 14.68%
• 1Y: 32.93%
• 3Y*: 16.99%
• 5Y*: 5.59%
• 10Y*: 11.90%

FDGRX

• 1D: 1.85%
• 1M: 2.21%
• YTD: 23.00%
• 6M: 16.48%
• 1Y: 47.42%
• 3Y*: 30.07%
• 5Y*: 16.39%
• 10Y*: 23.19%

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

VSGIX vs. FDGRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VSGIX Vanguard Small-Cap Growth Index Fund Institutional Shares	18.39%	8.44%	14.95%	23.07%	-28.39%	5.70%	35.29%	32.77%	-5.70%	21.94%
FDGRX Fidelity Growth Company Fund	23.00%	18.54%	37.18%	47.25%	-33.86%	22.57%	67.42%	38.40%	-4.14%	36.76%

Correlation

The correlation between VSGIX and FDGRX is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.75
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.83
Correlation (10Y) Calculated over the trailing 10-year period	0.84
Correlation (All Time) Calculated using the full available price history since May 24, 2000	0.89

The correlation between VSGIX and FDGRX shifts across timeframes, from 0.75 (1 year) to 0.89 (all time), reflecting how their relationship changes across market environments.

VSGIX vs. FDGRX - Sectors Allocation Comparison

Sectors	VSGIX	FDGRX
Technology	27.2%	53.5%
Industrials	24.6%	2.7%
Healthcare	14.4%	11.3%
Consumer Cyclical	7.9%	11.5%
Financial Services	5.4%	3.0%
Energy	4.4%	0.5%
Real Estate	3.5%	0.2%
Communication Services	3.0%	14.1%
Consumer Defensive	2.7%	2.6%
Basic Materials	2.7%	0.6%
Utilities	1.3%	-

Return for Risk

VSGIX vs. FDGRX — Risk / Return Rank

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

VSGIX

VSGIX Risk / Return Rank: 45
VSGIX Sharpe Ratio Rank: 37
VSGIX Sortino Ratio Rank: 34
VSGIX Omega Ratio Rank: 32
VSGIX Calmar Ratio Rank: 62
VSGIX Martin Ratio Rank: 58

FDGRX

FDGRX Risk / Return Rank: 74
FDGRX Sharpe Ratio Rank: 79
FDGRX Sortino Ratio Rank: 61
FDGRX Omega Ratio Rank: 65
FDGRX Calmar Ratio Rank: 84
FDGRX Martin Ratio Rank: 79

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.

VSGIX vs. FDGRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Small-Cap Growth Index Fund Institutional Shares (VSGIX) 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.

	VSGIX	FDGRX	Difference
Sharpe ratio: Return per unit of total volatility	1.63	2.41	-0.78
Sortino ratio: Return per unit of downside risk	2.26	2.98	-0.72
Omega ratio: Gain probability vs. loss probability	1.28	1.41	-0.13
Calmar ratio: Return relative to maximum drawdown	2.90	3.74	-0.84
Martin ratio: Return relative to average drawdown	10.84	13.71	-2.87

VSGIX vs. FDGRX - Sharpe Ratio Comparison

The current VSGIX Sharpe Ratio is 1.63, which is lower than the FDGRX Sharpe Ratio of 2.41. The chart below compares the historical Sharpe Ratios of VSGIX 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

VSGIX vs. FDGRX - Drawdown Comparison

The maximum VSGIX drawdown since its inception was -58.66%, smaller than the maximum FDGRX drawdown of -71.62%. Use the drawdown chart below to compare losses from any high point for VSGIX and FDGRX.

Drawdown Indicators

	VSGIX	FDGRX	Difference
Max Drawdown Largest peak-to-trough decline	-58.66%	-71.62%	+12.96%
Max Drawdown (1Y) Largest decline over 1 year	-11.38%	-12.60%	+1.22%
Max Drawdown (3Y) Largest decline over 3 years	-27.47%	-26.19%	-1.28%
Max Drawdown (5Y) Largest decline over 5 years	-38.36%	-40.25%	+1.89%
Max Drawdown (10Y) Largest decline over 10 years	-38.70%	-40.25%	+1.55%
Current Drawdown Current decline from peak	-0.30%	-0.61%	+0.31%
Average Drawdown Average peak-to-trough decline	-11.32%	-15.89%	+4.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.04%	3.42%	-0.38%

Volatility

VSGIX vs. FDGRX - Volatility Comparison

Vanguard Small-Cap Growth Index Fund Institutional Shares (VSGIX) and Fidelity Growth Company Fund (FDGRX) have volatilities of 7.29% and 7.50%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VSGIX	FDGRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.29%	7.50%	-0.21%
Volatility (6M) Calculated over the trailing 6-month period	15.86%	15.80%	+0.06%
Volatility (1Y) Calculated over the trailing 1-year period	20.29%	19.54%	+0.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.70%	24.10%	-0.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.05%	23.47%	-0.42%

VSGIX vs. FDGRX - Expense Ratio Comparison

VSGIX has a 0.06% expense ratio, which is lower than FDGRX's 0.52% expense ratio.

Dividends

VSGIX vs. FDGRX - Dividend Comparison

VSGIX's dividend yield for the trailing twelve months is around 0.45%, 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%
VSGIX Vanguard Small-Cap Growth Index Fund Institutional Shares	0.45%	0.55%	0.55%	0.68%	0.56%	0.37%	0.45%	0.58%	0.80%	0.82%	1.09%	0.98%

Frequently Asked Questions

Can I hold both VSGIX and FDGRX in my portfolio?

VSGIX and FDGRX have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VSGIX or FDGRX?

FDGRX has higher volatility (7.50%) compared to VSGIX (7.29%). In terms of maximum drawdown, VSGIX dropped -58.66% vs FDGRX's -71.62%.

Which has better risk-adjusted returns?

FDGRX currently has the higher Sharpe Ratio (2.41 vs 1.63), 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.