FSPGX vs IVV
Fidelity Large Cap Growth Index Fund vs iShares Core S&P 500 ETF
Quick Verdict
IVV has a lower expense ratio. IVV delivered stronger 1-year returns. IVV offers more diversification with 508 holdings.
Side-by-Side Comparison
| Metric | FSPGX | IVV | Winner |
|---|---|---|---|
| Expense Ratio | 0.04% | 0.03% | |
| AUM | - | $907.0B | |
| Dividend Yield | 0.39% | 1.10% | |
| Holdings | 395 | 508 | |
| YTD Return | +3.97% | +12.71% | |
| 1Y Return | +11.76% | +21.89% | |
| 3Y Return (annualized) | +21.97% | +22.08% | |
| 5Y Return (annualized) | +11.16% | +12.96% | |
| Volatility (annualized) | 19.0% | 15.1% | |
| Max Drawdown | -34.5% | -56.5% | |
| Fund Family | Fidelity Investments (US) | iShares by BlackRock (US) | |
| Category | Equity | Equity | |
| Inception | Jun 7, 2016 | May 15, 2000 |
FSPGX vs IVV Performance
Fidelity Large Cap Growth Index Fund (FSPGX) is a mutual fund from Fidelity Investments (US) and iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US). Over the past year FSPGX returned +11.76% while IVV returned +21.89%. Year to date, FSPGX is up 3.97% versus a gain of 12.71% for IVV.
Over three years, FSPGX compounded at +21.97% per year against +22.08% for IVV; over five years the annualized figures are +11.16% and +12.96% respectively. Across the full 5-year window we track, FSPGX has the edge at +11.16% annualized vs +7.00%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FSPGX has been the more volatile fund, with annualized monthly volatility of 19.0% compared with 15.1% for IVV. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -34.5% for FSPGX and -56.5% for IVV. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.92. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
FSPGX charges 0.04% per year while IVV charges 0.03%. On a $10,000 position that is $4 vs $3 annually, a gap of $1 per year that compounds over a long holding period. On income, FSPGX currently yields 0.39% against 1.10% for IVV.
Holdings Overlap
FSPGX and IVV share 187 holdings out of 711 unique holdings combined, representing a 57.2% weight overlap.
High overlap means holding both may not provide much additional diversification.
Frequently Asked Questions
Which is cheaper, FSPGX or IVV?
FSPGX has an expense ratio of 0.04% while IVV charges 0.03%. IVV is the cheaper option. On a $10,000 investment, that is $1 per year of difference.
Which performed better, FSPGX or IVV?
Over the past year FSPGX returned +11.76% vs +21.89% for IVV, so IVV leads on 1-year performance. Over the longest common window we track (5 years), FSPGX annualized +11.16% vs +7.00% for IVV. Past performance does not guarantee future results.
Which is riskier, FSPGX or IVV?
FSPGX has been the more volatile fund at 19.0% annualized versus 15.1% for IVV. Worst drawdown: FSPGX -34.5% vs IVV -56.5%.
Should I hold both FSPGX and IVV?
FSPGX and IVV have a monthly-return correlation of 0.92, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between FSPGX and IVV?
FSPGX and IVV share 187 common holdings with a 57.2% weight overlap. Combined, they hold 711 unique securities.
Which pays a higher dividend, FSPGX or IVV?
FSPGX yields 0.39% while IVV yields 1.10%, so IVV currently pays the higher dividend yield.
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