FSPGX vs SPY
Fidelity Large Cap Growth Index Fund vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
FSPGX has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | FSPGX | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.04% | 0.09% | |
| AUM | - | $821.1B | |
| Dividend Yield | 0.39% | 1.01% | |
| Holdings | 395 | 505 | |
| YTD Return | +3.45% | +12.68% | |
| 1Y Return | +10.79% | +21.82% | |
| 3Y Return (annualized) | +21.74% | +21.98% | |
| 5Y Return (annualized) | +11.05% | +12.89% | |
| Volatility (annualized) | 19.0% | 15.3% | |
| Max Drawdown | -34.5% | -56.5% | |
| Fund Family | Fidelity Investments (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Jun 7, 2016 | Jan 22, 1993 |
FSPGX vs SPY Performance
Fidelity Large Cap Growth Index Fund (FSPGX) is a mutual fund from Fidelity Investments (US) and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year FSPGX returned +10.79% while SPY returned +21.82%. Year to date, FSPGX is up 3.45% versus a gain of 12.68% for SPY.
Over three years, FSPGX compounded at +21.74% per year against +21.98% for SPY; over five years the annualized figures are +11.05% and +12.89% respectively. Across the full 5-year window we track, FSPGX has the edge at +11.05% annualized vs +8.81%. 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 15.3% for SPY. 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 SPY. 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 SPY charges 0.09%. On a $10,000 position that is $4 vs $9 annually, a gap of $6 per year that compounds over a long holding period. On income, FSPGX currently yields 0.39% against 1.01% for SPY.
Holdings Overlap
FSPGX and SPY share 190 holdings out of 707 unique holdings combined, representing a 58.6% weight overlap.
High overlap means holding both may not provide much additional diversification.
Frequently Asked Questions
Which is cheaper, FSPGX or SPY?
FSPGX has an expense ratio of 0.04% while SPY charges 0.09%. FSPGX is the cheaper option. On a $10,000 investment, that is $6 per year of difference.
Which performed better, FSPGX or SPY?
Over the past year FSPGX returned +10.79% vs +21.82% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (5 years), FSPGX annualized +11.05% vs +8.81% for SPY. Past performance does not guarantee future results.
Which is riskier, FSPGX or SPY?
FSPGX has been the more volatile fund at 19.0% annualized versus 15.3% for SPY. Worst drawdown: FSPGX -34.5% vs SPY -56.5%.
Should I hold both FSPGX and SPY?
FSPGX and SPY 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 SPY?
FSPGX and SPY share 190 common holdings with a 58.6% weight overlap. Combined, they hold 707 unique securities.
Which pays a higher dividend, FSPGX or SPY?
FSPGX yields 0.39% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
Popular Fund Comparisons
Get Full ETF Analytics
Access complete holdings data, overlap analysis, screener tools, and more with FundXLS.