VSS vs. FDGRX

Last updated Jun 18, 2026

VSS (Vanguard FTSE All-World ex-US Small-Cap ETF) and FDGRX (Fidelity Growth Company Fund) are both funds - VSS is a Foreign Small & Mid Cap Equities fund tracking the FTSE Global Small Cap ex US Index, while FDGRX is a Large Cap Growth Equities fund actively managed by Fidelity. VSS is passively managed, while FDGRX is actively managed. Over the past 10 years, VSS returned 8.40%/yr vs 23.23%/yr for FDGRX. A 0.72 correlation means they provide meaningful diversification when combined. VSS charges 0.07%/yr vs 0.52%/yr for FDGRX.

Performance

VSS vs. FDGRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard FTSE All-World ex-US Small-Cap ETF (VSS) 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, VSS achieves a 10.11% return, which is significantly lower than FDGRX's 22.31% return. Over the past 10 years, VSS has underperformed FDGRX with an annualized return of 8.40%, while FDGRX has yielded a comparatively higher 23.23% annualized return.

VSS

• 1D: -0.84%
• 1M: -0.16%
• YTD: 10.11%
• 6M: 12.92%
• 1Y: 25.39%
• 3Y*: 15.47%
• 5Y*: 6.35%
• 10Y*: 8.40%

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)

VSS vs. FDGRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VSS Vanguard FTSE All-World ex-US Small-Cap ETF	10.11%	29.61%	2.94%	15.52%	-21.48%	13.05%	11.81%	21.36%	-18.48%	30.61%
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 VSS and FDGRX is 0.68, 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	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.62
Correlation (5Y) Calculated over the trailing 5-year period	0.69
Correlation (10Y) Calculated over the trailing 10-year period	0.69
Correlation (All Time) Calculated using the full available price history since Apr 6, 2009	0.72

The correlation between VSS and FDGRX has been stable across timeframes, ranging from 0.62 to 0.72 - a consistent structural relationship.

VSS vs. FDGRX - Sectors Allocation Comparison

Sectors	VSS	FDGRX
Industrials	19.9%	2.7%
Basic Materials	16.0%	0.6%
Financial Services	14.2%	3.0%
Technology	13.9%	53.5%
Energy	8.4%	0.5%
Consumer Cyclical	7.3%	11.5%
Real Estate	7.2%	0.2%
Healthcare	4.3%	11.3%
Utilities	3.6%	-
Consumer Defensive	2.7%	2.6%
Communication Services	2.0%	14.1%

Return for Risk

VSS vs. FDGRX — Risk / Return Rank

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

VSS

VSS Risk / Return Rank: 49
VSS Sharpe Ratio Rank: 50
VSS Sortino Ratio Rank: 48
VSS Omega Ratio Rank: 51
VSS Calmar Ratio Rank: 46
VSS Martin Ratio Rank: 51

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.

VSS vs. FDGRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE All-World ex-US Small-Cap ETF (VSS) 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.

	VSS	FDGRX	Difference
Sharpe ratio: Return per unit of total volatility	1.64	2.34	-0.70
Sortino ratio: Return per unit of downside risk	2.26	2.90	-0.65
Omega ratio: Gain probability vs. loss probability	1.30	1.40	-0.09
Calmar ratio: Return relative to maximum drawdown	2.20	3.60	-1.41
Martin ratio: Return relative to average drawdown	8.22	13.24	-5.02

VSS vs. FDGRX - Sharpe Ratio Comparison

The current VSS Sharpe Ratio is 1.64, which is comparable to the FDGRX Sharpe Ratio of 2.34. The chart below compares the historical Sharpe Ratios of VSS 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

VSS vs. FDGRX - Drawdown Comparison

The maximum VSS drawdown since its inception was -43.51%, smaller than the maximum FDGRX drawdown of -71.62%. Use the drawdown chart below to compare losses from any high point for VSS and FDGRX.

Drawdown Indicators

	VSS	FDGRX	Difference
Max Drawdown Largest peak-to-trough decline	-43.51%	-71.62%	+28.11%
Max Drawdown (1Y) Largest decline over 1 year	-11.62%	-12.60%	+0.98%
Max Drawdown (3Y) Largest decline over 3 years	-15.73%	-26.19%	+10.46%
Max Drawdown (5Y) Largest decline over 5 years	-33.93%	-40.25%	+6.32%
Max Drawdown (10Y) Largest decline over 10 years	-43.51%	-40.25%	-3.26%
Current Drawdown Current decline from peak	-2.99%	-1.17%	-1.82%
Average Drawdown Average peak-to-trough decline	-9.63%	-15.89%	+6.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.10%	3.42%	-0.32%

Volatility

VSS vs. FDGRX - Volatility Comparison

The current volatility for Vanguard FTSE All-World ex-US Small-Cap ETF (VSS) is 6.34%, while Fidelity Growth Company Fund (FDGRX) has a volatility of 7.29%. This indicates that VSS 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

	VSS	FDGRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.34%	7.29%	-0.95%
Volatility (6M) Calculated over the trailing 6-month period	13.63%	15.82%	-2.19%
Volatility (1Y) Calculated over the trailing 1-year period	15.62%	19.47%	-3.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.61%	24.09%	-7.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.30%	23.47%	-6.17%

VSS vs. FDGRX - Expense Ratio Comparison

VSS has a 0.07% expense ratio, which is lower than FDGRX's 0.52% expense ratio.

Dividends

VSS vs. FDGRX - Dividend Comparison

VSS's dividend yield for the trailing twelve months is around 3.08%, 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%
VSS Vanguard FTSE All-World ex-US Small-Cap ETF	3.08%	3.39%	3.44%	3.14%	2.30%	2.74%	1.90%	3.25%	2.80%	2.83%	2.93%	2.66%

Frequently Asked Questions

Can I hold both VSS and FDGRX in my portfolio?

VSS and FDGRX have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VSS or FDGRX?

FDGRX has higher volatility (7.29%) compared to VSS (6.34%). In terms of maximum drawdown, VSS dropped -43.51% vs FDGRX's -71.62%.

Which has better risk-adjusted returns?

FDGRX currently has the higher Sharpe Ratio (2.34 vs 1.64), 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.