FSPGX vs SCHD
Fidelity Large Cap Growth Index Fund vs Schwab US Dividend Equity ETF
Which is better, FSPGX or SCHD?
Large Cap Growth against Large Cap Value.
FSPGX has a lower expense ratio. FSPGX led over 3Y, 5Y and the full window, SCHD over 1Y. SCHD is less concentrated, with 41.8% of the fund in its ten largest positions against 60.7%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | FSPGX | SCHD |
|---|---|---|
| Expense Ratio | 0.04%Best | 0.06% |
| AUM | - | $112.1B |
| Dividend Yield | 0.37% | 3.00% |
| Holdings | 392 | 103 |
| YTD Price Return | +4.03% | +22.57%Best |
| 1Y Price Return | +8.23% | +23.60%Best |
| 3Y Price Return (annualized) | +20.56%Best | +11.40% |
| 5Y Price Return (annualized) | +11.08%Best | +6.05% |
| Volatility (annualized) | 18.8% | 15.2%Best |
| Max Drawdown | -34.5% | -18.9%Best |
| $10,000 over 5 years | $16,911Best | $13,414 |
| Top 10 Weight | 60.7% | 41.8%Best |
| Fund Family | Fidelity Investments (US) | Charles Schwab Asset Management |
| Category | Equity | Equity |
| Style | Large Cap Growth | Large Cap Value |
| Inception | Jun 7, 2016 | Oct 20, 2011 |
Returns are price returns and exclude distributions, because our data feed carries no adjusted close for FSPGX. Both funds are measured the same way, so the comparison holds. FSPGX yields 0.37% and SCHD 3.00% on top.
Volatility and max drawdown are measured over the window both funds cover: Sep 13, 2021 to Sep 9, 2026 (5 years).
FSPGX vs SCHD growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 5 years both funds cover. Prices exclude distributions, on both funds alike.
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 an ETF from Charles Schwab Asset Management. Over the past year FSPGX returned +8.23% while SCHD returned +23.60%. Year to date, FSPGX is up 4.03% versus a gain of 22.57% for SCHD.
Over three years, FSPGX compounded at +20.56% per year against +11.40% for SCHD; over five years the annualized figures are +11.08% and +6.05% respectively.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FSPGX has been the more volatile fund, with annualized monthly volatility of 18.8% compared with 15.2% 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 -18.9% for SCHD. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.44. They move together some of the time, and apart the rest.
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 0.37% against 3.00% for SCHD.
Structure and taxes
FSPGX is a mutual fund and SCHD is an ETF. A mutual fund prices once a day at net asset value and may carry a purchase minimum. An ETF trades through the day at whatever the market pays for it.
In a taxable account the difference that usually matters is distributions. An ETF can meet redemptions in kind, so it rarely has to sell holdings and rarely passes a capital gain to the people who held it; a mutual fund that sells holdings to meet redemptions can distribute a realised gain at year end to everyone still in the fund, whether or not they sold anything themselves. In a tax-deferred account that difference largely disappears. Both are descriptions of how the two wrappers work, not a recommendation.
Tax-loss harvesting works on either wrapper.
Holdings Overlap
3.5% of FSPGX's money is in holdings SCHD also owns. 42.3% of SCHD's money is in holdings FSPGX also owns.
The two portfolios partly overlap.
The two holdings books were reported 123 days apart, FSPGX as of Apr 30, 2026 and SCHD as of Aug 31, 2026, so some of the difference between them is the time between the two reports rather than the funds.
23 positions in common, counted across the 390 positions we hold weights for in FSPGX and 100 in SCHD, against full books of 392 and 103.
What only one of them owns
Our book lists 76 positions for SCHD that do not appear in our book for FSPGX (57.6% of the fund), and 293 for FSPGX that do not appear in SCHD (96.1%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in FSPGX | Weight in SCHD | Difference |
|---|---|---|---|
| AMGNAmgen Inc. | 0.44% | 4.70% | 4.26% |
| HDHome Depot Inc/The | 0.80% | 3.88% | 3.08% |
| KOCoca Cola Co. | 0.48% | 4.17% | 3.69% |
| PEPPepsico Inc. | 0.10% | 3.64% | 3.54% |
| TXNTexas Instruments, Inc | 0.34% | 3.13% | 2.79% |
| BMYBristol-Myers Squibb Co. | 0.08% | 3.33% | 3.25% |
| ADPAutomatic Data Processing, Inc. | 0.26% | 2.79% | 2.53% |
| BXBlackstone Group Inc/the Common Stock | 0.30% | 2.59% | 2.29% |
| LMTLockheed Martin Corp | 0.10% | 2.78% | 2.68% |
| QCOMQualcomm Inc. | 0.14% | 2.52% | 2.38% |
42.3% of SCHD is already inside FSPGX.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
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, by $2 a year on a $10,000 investment.
Which performed better, FSPGX or SCHD?
Over the past year FSPGX returned +8.23% vs +23.60% for SCHD, so SCHD leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FSPGX or SCHD?
FSPGX has been the more volatile fund at 18.8% annualized versus 15.2% for SCHD. Worst drawdown: FSPGX -34.5% vs SCHD -18.9%.
Should I hold both FSPGX and SCHD?
FSPGX and SCHD have a monthly-return correlation of 0.44, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between FSPGX and SCHD?
42.3% of SCHD's money is in holdings FSPGX also owns. 42.3% of SCHD's is in holdings FSPGX also owns. They hold 23 positions in common, counted across the 390 positions we hold weights for in FSPGX and 100 in SCHD.
Which pays a higher dividend, FSPGX or SCHD?
FSPGX yields 0.37% while SCHD yields 3.00%, so SCHD currently pays the higher dividend yield.
Is it better to hold FSPGX or SCHD in a taxable account?
SCHD is an ETF and FSPGX is a mutual fund. An ETF can meet redemptions in kind, so it rarely distributes a capital gain to the people holding it. A mutual fund that sells holdings to meet redemptions can pass a realised gain to every holder at year end. In a tax-deferred account that difference largely disappears. This is information, not a recommendation.
Is SCHD better than FSPGX?
FSPGX has a lower expense ratio. FSPGX led over 3Y, 5Y and the full window, SCHD over 1Y. SCHD is less concentrated, with 41.8% of the fund in its ten largest positions against 60.7%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.