XAR vs. FGLGX

Last updated Jun 9, 2026

XAR (SPDR S&P Aerospace & Defense ETF) and FGLGX (Fidelity Series Large Cap Stock Fund) are both funds - XAR is a Aerospace & Defense fund tracking the S&P Aerospace & Defense Select Industry Index, while FGLGX is a Large Cap Blend Equities fund managed by Fidelity. Over the past 10 years, XAR returned 17.82%/yr vs 16.13%/yr for FGLGX. A 0.73 correlation means they provide meaningful diversification when combined. XAR charges 0.35%/yr vs 0.00%/yr for FGLGX.

Performance

XAR vs. FGLGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P Aerospace & Defense ETF (XAR) and Fidelity Series Large Cap Stock Fund (FGLGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, XAR achieves a 12.43% return, which is significantly higher than FGLGX's 8.01% return. Over the past 10 years, XAR has outperformed FGLGX with an annualized return of 17.82%, while FGLGX has yielded a comparatively lower 16.13% annualized return.

XAR

• 1D: -0.54%
• 1M: 2.15%
• YTD: 12.43%
• 6M: 16.39%
• 1Y: 37.23%
• 3Y*: 32.47%
• 5Y*: 15.97%
• 10Y*: 17.82%

FGLGX

• 1D: -2.07%
• 1M: -0.41%
• YTD: 8.01%
• 6M: 9.68%
• 1Y: 28.36%
• 3Y*: 25.71%
• 5Y*: 16.39%
• 10Y*: 16.13%

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

XAR vs. FGLGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
XAR SPDR S&P Aerospace & Defense ETF	12.43%	46.15%	23.32%	23.79%	-5.02%	2.31%	6.18%	39.33%	-4.58%	33.00%
FGLGX Fidelity Series Large Cap Stock Fund	8.01%	28.57%	27.45%	24.80%	-7.23%	26.53%	10.01%	32.37%	-8.95%	16.64%

Correlation

The correlation between XAR and FGLGX 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	0.68
Correlation (5Y) Calculated over the trailing 5-year period	0.74
Correlation (10Y) Calculated over the trailing 10-year period	0.73
Correlation (All Time) Calculated using the full available price history since Dec 11, 2012	0.73

The correlation between XAR and FGLGX has been stable across timeframes, ranging from 0.68 to 0.74 - a consistent structural relationship.

Return for Risk

XAR vs. FGLGX — Risk / Return Rank

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

XAR

XAR Risk / Return Rank: 43
XAR Sharpe Ratio Rank: 44
XAR Sortino Ratio Rank: 45
XAR Omega Ratio Rank: 39
XAR Calmar Ratio Rank: 49
XAR Martin Ratio Rank: 41

FGLGX

FGLGX Risk / Return Rank: 71
FGLGX Sharpe Ratio Rank: 71
FGLGX Sortino Ratio Rank: 66
FGLGX Omega Ratio Rank: 65
FGLGX Calmar Ratio Rank: 72
FGLGX Martin Ratio Rank: 81

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.

XAR vs. FGLGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Aerospace & Defense ETF (XAR) and Fidelity Series Large Cap Stock Fund (FGLGX). 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.

	XAR	FGLGX	Difference
Sharpe ratio: Return per unit of total volatility	1.39	2.38	-1.00
Sortino ratio: Return per unit of downside risk	2.02	3.27	-1.25
Omega ratio: Gain probability vs. loss probability	1.23	1.43	-0.20
Calmar ratio: Return relative to maximum drawdown	2.17	3.16	-0.99
Martin ratio: Return relative to average drawdown	6.13	14.42	-8.29
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XAR vs. FGLGX - Sharpe Ratio Comparison

The current XAR Sharpe Ratio is 1.39, which is lower than the FGLGX Sharpe Ratio of 2.38. The chart below compares the historical Sharpe Ratios of XAR and FGLGX, 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

	XAR	FGLGX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.39	2.38	-1.00
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.68	0.97	-0.29
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.73	0.88	-0.15
Sharpe Ratio (All Time) Calculated using the full available price history	0.84	0.87	-0.03

Drawdowns

XAR vs. FGLGX - Drawdown Comparison

The maximum XAR drawdown since its inception was -46.37%, which is greater than FGLGX's maximum drawdown of -36.42%. Use the drawdown chart below to compare losses from any high point for XAR and FGLGX.

Drawdown Indicators

	XAR	FGLGX	Difference
Max Drawdown Largest peak-to-trough decline	-46.37%	-36.42%	-9.95%
Max Drawdown (1Y) Largest decline over 1 year	-17.22%	-9.43%	-7.79%
Max Drawdown (3Y) Largest decline over 3 years	-19.73%	-18.75%	-0.98%
Max Drawdown (5Y) Largest decline over 5 years	-32.40%	-21.21%	-11.19%
Max Drawdown (10Y) Largest decline over 10 years	-46.37%	-36.42%	-9.95%
Current Drawdown Current decline from peak	-7.35%	-2.14%	-5.21%
Average Drawdown Average peak-to-trough decline	-6.78%	-3.78%	-3.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.09%	2.06%	+4.03%

Volatility

XAR vs. FGLGX - Volatility Comparison

SPDR S&P Aerospace & Defense ETF (XAR) has a higher volatility of 9.09% compared to Fidelity Series Large Cap Stock Fund (FGLGX) at 3.43%. This indicates that XAR's price experiences larger fluctuations and is considered to be riskier than FGLGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XAR	FGLGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.09%	3.43%	+5.66%
Volatility (6M) Calculated over the trailing 6-month period	22.58%	9.63%	+12.95%
Volatility (1Y) Calculated over the trailing 1-year period	27.05%	12.52%	+14.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.46%	16.92%	+6.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.65%	18.38%	+6.27%

XAR vs. FGLGX - Expense Ratio Comparison

XAR has a 0.35% expense ratio, which is higher than FGLGX's 0.00% expense ratio.

Dividends

XAR vs. FGLGX - Dividend Comparison

XAR's dividend yield for the trailing twelve months is around 0.32%, less than FGLGX's 9.11% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FGLGX Fidelity Series Large Cap Stock Fund	9.11%	9.84%	7.99%	5.29%	6.55%	9.22%	5.36%	7.25%	12.29%	4.61%	1.69%	5.94%
XAR SPDR S&P Aerospace & Defense ETF	0.32%	0.40%	0.66%	0.54%	0.50%	0.83%	0.63%	0.75%	1.19%	0.76%	1.09%	2.31%

Frequently Asked Questions

Can I hold both XAR and FGLGX in my portfolio?

XAR and FGLGX 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, XAR or FGLGX?

XAR has higher volatility (9.09%) compared to FGLGX (3.43%). In terms of maximum drawdown, XAR dropped -46.37% vs FGLGX's -36.42%.

Which has better risk-adjusted returns?

FGLGX currently has the higher Sharpe Ratio (2.38 vs 1.39), 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.