VTWIX vs. FSPGX

Last updated Jun 4, 2026

VTWIX (Vanguard Total World Stock Index Fund Institutional Shares) and FSPGX (Fidelity Large Cap Growth Index Fund) are both Large Cap Growth Equities funds. Over the past 5 years, VTWIX returned 11.37%/yr vs 15.40%/yr for FSPGX. Their correlation of 0.89 suggests significant overlap in exposure. VTWIX charges 0.08%/yr vs 0.04%/yr for FSPGX.

Performance

VTWIX vs. FSPGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Total World Stock Index Fund Institutional Shares (VTWIX) and Fidelity Large Cap Growth Index Fund (FSPGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VTWIX achieves a 13.18% return, which is significantly higher than FSPGX's 7.15% return.

VTWIX

• 1D: 0.37%
• 1M: 5.70%
• YTD: 13.18%
• 6M: 14.11%
• 1Y: 30.33%
• 3Y*: 21.30%
• 5Y*: 11.37%
• 10Y*: 12.83%

FSPGX

• 1D: -1.33%
• 1M: 5.13%
• YTD: 7.15%
• 6M: 6.29%
• 1Y: 25.29%
• 3Y*: 24.97%
• 5Y*: 15.40%
• 10Y*: —

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

VTWIX vs. FSPGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VTWIX Vanguard Total World Stock Index Fund Institutional Shares	13.18%	22.43%	16.47%	21.87%	-18.00%	18.21%	16.70%	26.77%	-9.68%	23.26%
FSPGX Fidelity Large Cap Growth Index Fund	7.15%	18.54%	33.27%	42.77%	-29.17%	27.57%	38.46%	36.38%	-1.79%	27.70%

Correlation

The correlation between VTWIX and FSPGX is 0.86, 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	0.86
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (All Time) Calculated using the full available price history since Jan 4, 2017	0.89

The correlation between VTWIX and FSPGX has been stable across timeframes, ranging from 0.86 to 0.89 - a consistent structural relationship.

Return for Risk

VTWIX vs. FSPGX — Risk / Return Rank

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

VTWIX

VTWIX Risk / Return Rank: 70
VTWIX Sharpe Ratio Rank: 74
VTWIX Sortino Ratio Rank: 67
VTWIX Omega Ratio Rank: 66
VTWIX Calmar Ratio Rank: 69
VTWIX Martin Ratio Rank: 76

FSPGX

FSPGX Risk / Return Rank: 27
FSPGX Sharpe Ratio Rank: 33
FSPGX Sortino Ratio Rank: 30
FSPGX Omega Ratio Rank: 30
FSPGX Calmar Ratio Rank: 19
FSPGX Martin Ratio Rank: 20

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.

VTWIX vs. FSPGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Total World Stock Index Fund Institutional Shares (VTWIX) and Fidelity Large Cap Growth Index Fund (FSPGX). 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.

	VTWIX	FSPGX	Difference
Sharpe ratio: Return per unit of total volatility	2.49	1.67	+0.82
Sortino ratio: Return per unit of downside risk	3.41	2.29	+1.12
Omega ratio: Gain probability vs. loss probability	1.45	1.29	+0.16
Calmar ratio: Return relative to maximum drawdown	3.19	1.60	+1.59
Martin ratio: Return relative to average drawdown	14.27	5.36	+8.91
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VTWIX vs. FSPGX - Sharpe Ratio Comparison

The current VTWIX Sharpe Ratio is 2.49, which is higher than the FSPGX Sharpe Ratio of 1.67. The chart below compares the historical Sharpe Ratios of VTWIX and FSPGX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	VTWIX	FSPGX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.49	1.67	+0.82
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.73	0.72	+0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.77	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	0.89	-0.42

Drawdowns

VTWIX vs. FSPGX - Drawdown Comparison

The maximum VTWIX drawdown since its inception was -50.16%, which is greater than FSPGX's maximum drawdown of -32.66%. Use the drawdown chart below to compare losses from any high point for VTWIX and FSPGX.

Drawdown Indicators

	VTWIX	FSPGX	Difference
Max Drawdown Largest peak-to-trough decline	-50.16%	-32.66%	-17.50%
Max Drawdown (1Y) Largest decline over 1 year	-9.64%	-16.17%	+6.53%
Max Drawdown (3Y) Largest decline over 3 years	-16.43%	-23.32%	+6.89%
Max Drawdown (5Y) Largest decline over 5 years	-26.39%	-32.66%	+6.27%
Max Drawdown (10Y) Largest decline over 10 years	-34.20%	—	—
Current Drawdown Current decline from peak	0.00%	-1.70%	+1.70%
Average Drawdown Average peak-to-trough decline	-6.97%	-6.37%	-0.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.15%	4.81%	-2.66%

Volatility

VTWIX vs. FSPGX - Volatility Comparison

Vanguard Total World Stock Index Fund Institutional Shares (VTWIX) and Fidelity Large Cap Growth Index Fund (FSPGX) have volatilities of 3.55% and 3.68%, 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

	VTWIX	FSPGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.55%	3.68%	-0.13%
Volatility (6M) Calculated over the trailing 6-month period	9.81%	11.65%	-1.84%
Volatility (1Y) Calculated over the trailing 1-year period	12.36%	15.45%	-3.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.72%	21.50%	-5.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.76%	21.55%	-4.79%

VTWIX vs. FSPGX - Expense Ratio Comparison

VTWIX has a 0.08% expense ratio, which is higher than FSPGX's 0.04% 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

VTWIX vs. FSPGX - Dividend Comparison

VTWIX's dividend yield for the trailing twelve months is around 1.57%, more than FSPGX's 0.32% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSPGX Fidelity Large Cap Growth Index Fund	0.32%	0.34%	0.37%	0.73%	0.86%	2.22%	1.76%	1.04%	1.32%	0.22%	0.00%	0.00%
VTWIX Vanguard Total World Stock Index Fund Institutional Shares	1.57%	1.82%	1.94%	2.07%	2.19%	1.81%	1.66%	2.32%	2.55%	2.11%	2.40%	2.46%

Frequently Asked Questions

Can I hold both VTWIX and FSPGX in my portfolio?

VTWIX and FSPGX have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VTWIX or FSPGX?

FSPGX has higher volatility (3.68%) compared to VTWIX (3.55%). In terms of maximum drawdown, VTWIX dropped -50.16% vs FSPGX's -32.66%.

Which has better risk-adjusted returns?

VTWIX currently has the higher Sharpe Ratio (2.49 vs 1.67), 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.