Fidelity Growth Company’s exposure to companies with paltry current earnings, relatively high price multiples, and rapid growth expectations has inflicted heavy losses during the global equity market selloff that began near 2022’s start. For the year to date through May 7, 2022, the mutual fund's no-load share class slid 25.7%, 4.4 percentage points worse than the Russell 1000 Growth Index’s decline and behind most peers in the large-growth Morningstar Category. That underperformance, while disappointing, is mostly in line with what investors should expect from the strategy, given its style, typical exposure to companies with high volatility, and an unfavorable macroeconomic backdrop.
Fidelity® Growth Company FDGRX
NAV / 1-Day Return
26.19
/
4.22
%
Total Assets
47.9 Bil
Adj. Expense Ratio
Adjusted Expense Ratio excludes certain variable investment-related expenses, such as interest from borrowings and dividends on borrowed securities, allowing for more consistent cost comparisons across funds.
0.790%
Expense Ratio
0.790%
Fee Level
Average
Longest Manager Tenure
25.37
years
Category
Large Growth
Investment Style
Large GrowthMin. Initial Investment
0
Status
Limited
TTM Yield
0.00%
Turnover
16%
Premium
Morningstar’s Analysis
The Morningstar Analysis section contains a thorough evaluation of an investment’s merits and drawbacks and often discusses the most important or decisive factors leading to the fund’s overall rating.
The Morningstar Analysis section contains a thorough evaluation of an investment’s merits and drawbacks and often discusses the most important or decisive factors leading to the fund’s overall rating.
Will FDGRX outperform in future?
Get our overall rating based on a fundamental assessment of the pillars below.
Process Pillar
The Process Pillar is our assessment of how sensible, clearly defined, and repeatable FDGRX’s performance objective and investment process is for both security selection and portfolio construction.
People Pillar
The People Pillar is our evaluation of the FDGRX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
Parent Pillar
The Parent Pillar is our rating of FDGRX’s parent organization’s priorities and whether they’re in line with investors’ interests.
Fidelity Growth Company’s High-Growth Exposure Has Hurt in 2022
