FSPGX vs VYM
Fidelity Large Cap Growth Index Fund vs Vanguard High Dividend Yield ETF
Which is better, FSPGX or VYM?
Large Cap Growth against Large Cap Value.
FSPGX led over 3Y, 5Y and the full window, VYM over 1Y. VYM is less concentrated, with 25.9% 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 | VYM |
|---|---|---|
| Expense Ratio | 0.04%Tie | 0.04%Tie |
| AUM | - | $81.6B |
| Dividend Yield | 0.37% | 2.22% |
| Holdings | 392 | 613 |
| YTD Price Return | +4.03% | +11.79%Best |
| 1Y Price Return | +8.23% | +14.95%Best |
| 3Y Price Return (annualized) | +20.56%Best | +14.75% |
| 5Y Price Return (annualized) | +11.08%Best | +8.95% |
| Volatility (annualized) | 18.8% | 13.9%Best |
| Max Drawdown | -34.5% | -17.5%Best |
| $10,000 over 5 years | $16,911Best | $15,351 |
| Top 10 Weight | 60.7% | 25.9%Best |
| Fund Family | Fidelity Investments (US) | Vanguard (US) |
| Category | Equity | Equity |
| Style | Large Cap Growth | Large Cap Value |
| Inception | Jun 7, 2016 | Nov 10, 2006 |
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 VYM 2.22% 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 VYM 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 VYM Performance
Fidelity Large Cap Growth Index Fund (FSPGX) is a mutual fund from Fidelity Investments (US) and Vanguard High Dividend Yield ETF (VYM) is an ETF from Vanguard (US). Over the past year FSPGX returned +8.23% while VYM returned +14.95%. Year to date, FSPGX is up 4.03% versus a gain of 11.79% for VYM.
Over three years, FSPGX compounded at +20.56% per year against +14.75% for VYM; over five years the annualized figures are +11.08% and +8.95% 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 13.9% for VYM. 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 -17.5% for VYM. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.58. They move together some of the time, and apart the rest.
Fees and Cost Over Time
FSPGX charges 0.04% per year while VYM charges 0.04%. On a $10,000 position that is $4 vs $4 annually. On income, FSPGX currently yields 0.37% against 2.22% for VYM.
Structure and taxes
FSPGX is a mutual fund and VYM 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
13.9% of FSPGX's money is in holdings VYM also owns. 34.5% of VYM's money is in holdings FSPGX also owns.
The two portfolios partly overlap.
The two holdings books were reported 61 days apart, FSPGX as of Apr 30, 2026 and VYM as of Jun 30, 2026, so some of the difference between them is the time between the two reports rather than the funds.
85 positions in common, counted across the 390 positions we hold weights for in FSPGX and 603 in VYM, against full books of 392 and 613.
What only one of them owns
Our book lists 483 positions for VYM that do not appear in our book for FSPGX (63.0% of the fund), and 247 for FSPGX that do not appear in VYM (85.8%).
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 VYM | Difference |
|---|---|---|---|
| AVGOBroadcom Inc | 5.77% | 7.29% | 1.52% |
| ABBVAbbvie Inc. | 1.21% | 1.85% | 0.64% |
| HDHome Depot Inc/The | 0.80% | 1.46% | 0.66% |
| CATCaterpillar, Inc. | 0.16% | 2.01% | 1.85% |
| ORCLOracle Corp. | 0.88% | 1.04% | 0.16% |
| KOCoca Cola Co. | 0.48% | 1.31% | 0.83% |
| BACBank Of America Corp. | 0.09% | 1.56% | 1.47% |
| TXNTexas Instruments, Inc | 0.34% | 1.13% | 0.79% |
| GSGoldman Sachs Group Inc. | 0.05% | 1.15% | 1.10% |
| AMGNAmgen Inc. | 0.44% | 0.75% | 0.31% |
34.5% of VYM 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 VYM?
FSPGX has an expense ratio of 0.04% while VYM charges 0.04%. At the precision these are quoted to, they cost the same.
Which performed better, FSPGX or VYM?
Over the past year FSPGX returned +8.23% vs +14.95% for VYM, so VYM leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FSPGX or VYM?
FSPGX has been the more volatile fund at 18.8% annualized versus 13.9% for VYM. Worst drawdown: FSPGX -34.5% vs VYM -17.5%.
Should I hold both FSPGX and VYM?
FSPGX and VYM have a monthly-return correlation of 0.58, 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 VYM?
34.5% of VYM's money is in holdings FSPGX also owns. 34.5% of VYM's is in holdings FSPGX also owns. They hold 85 positions in common, counted across the 390 positions we hold weights for in FSPGX and 603 in VYM.
Which pays a higher dividend, FSPGX or VYM?
FSPGX yields 0.37% while VYM yields 2.22%, so VYM currently pays the higher dividend yield.
Is it better to hold FSPGX or VYM in a taxable account?
VYM 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 VYM better than FSPGX?
FSPGX led over 3Y, 5Y and the full window, VYM over 1Y. VYM is less concentrated, with 25.9% 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.