FSPGX vs SCHD
Fidelity Large Cap Growth Index Fund vs Schwab US Dividend Equity ETF
Quick Verdict
FSPGX has a lower expense ratio. SCHD delivered stronger 1-year returns. FSPGX offers more diversification with 395 holdings.
Side-by-Side Comparison
| Metric | FSPGX | SCHD | Winner |
|---|---|---|---|
| Expense Ratio | 0.04% | 0.06% | |
| AUM | - | $108.7B | |
| Dividend Yield | 0.39% | 3.13% | |
| Holdings | 395 | 104 | |
| YTD Return | +3.45% | +28.70% | |
| 1Y Return | +10.79% | +32.27% | |
| 3Y Return (annualized) | +21.74% | +17.27% | |
| 5Y Return (annualized) | +11.05% | +10.23% | |
| Volatility (annualized) | 19.0% | 13.7% | |
| Max Drawdown | -34.5% | -33.4% | |
| Fund Family | Fidelity Investments (US) | Charles Schwab Asset Management | |
| Category | Equity | Equity | |
| Inception | Jun 7, 2016 | Oct 20, 2011 |
FSPGX vs SCHD Performance
Fidelity Large Cap Growth Index Fund (FSPGX) is a mutual fund from Fidelity Investments (US) and Schwab US Dividend Equity ETF (SCHD) is a ETF from Charles Schwab Asset Management. Over the past year FSPGX returned +10.79% while SCHD returned +32.27%. Year to date, FSPGX is up 3.45% versus a gain of 28.70% for SCHD.
Over three years, FSPGX compounded at +21.74% per year against +17.27% for SCHD; over five years the annualized figures are +11.05% and +10.23% respectively. Across the full 5-year window we track, SCHD has the edge at +11.63% annualized vs +11.05%. 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 13.7% for SCHD. 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 -33.4% for SCHD. 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 0.45. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
FSPGX charges 0.04% per year while SCHD charges 0.06%. On a $10,000 position that is $4 vs $6 annually, a gap of $2 per year that compounds over a long holding period. On income, FSPGX currently yields 0.39% against 3.13% for SCHD.
Holdings Overlap
FSPGX and SCHD share 23 holdings out of 470 unique holdings combined, representing a 3.8% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, FSPGX or SCHD?
FSPGX has an expense ratio of 0.04% while SCHD charges 0.06%. FSPGX is the cheaper option. On a $10,000 investment, that is $2 per year of difference.
Which performed better, FSPGX or SCHD?
Over the past year FSPGX returned +10.79% vs +32.27% for SCHD, so SCHD leads on 1-year performance. Over the longest common window we track (5 years), FSPGX annualized +11.05% vs +11.63% for SCHD. Past performance does not guarantee future results.
Which is riskier, FSPGX or SCHD?
FSPGX has been the more volatile fund at 19.0% annualized versus 13.7% for SCHD. Worst drawdown: FSPGX -34.5% vs SCHD -33.4%.
Should I hold both FSPGX and SCHD?
FSPGX and SCHD have a monthly-return correlation of 0.45, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between FSPGX and SCHD?
FSPGX and SCHD share 23 common holdings with a 3.8% weight overlap. Combined, they hold 470 unique securities.
Which pays a higher dividend, FSPGX or SCHD?
FSPGX yields 0.39% while SCHD yields 3.13%, so SCHD currently pays the higher dividend yield.
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