Fund Evaluator:

Fidelity Mega Cap Stock Overview

Fidelity Mega Cap Stock (FGRTX) is an actively managed U.S. Equity Large Blend fund. Fidelity Investments launched the fund in 1998.

The investment seeks high total return through a combination of current income and capital appreciation. The fund invests at least 80% of its assets in common stocks of companies with mega market capitalizations (which, for purposes of this fund, are those companies with market capitalizations similar to companies in the Russell Top 200® Index or the S&P 100® Index). It invests in domestic and foreign issuers and invests in either "growth" stocks or "value" stocks or both. The adviser uses fundamental analysis of factors such as each issuer's financial condition and industry position, as well as market and economic conditions, to select investments.

About Fidelity Mega Cap Stock (FGRTX)

There are 1 members of the management team with an average tenure of 17.24 years: Matthew Fruhan (2009). Management tenure is more important for actively managed funds than passive index funds.

The fund has 2 primary benchmarks: Russell Top 200 TR USD index with a weighting of 100% and S&P 500 (TR) (1970) index with a weighting of 100%. Fidelity Mega Cap Stock has 120 securities in its portfolio. The top 10 holdings constitute 48.7% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.

Fidelity Mega Cap Stock is part of the Equity global asset class and is within the U.S. Equity fund group. Fidelity Mega Cap Stock has 9.6% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 85.8%. There is 9.6% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Fidelity Mega Cap Stock has 4.4% of the portfolio in cash.

Assets Under Management

The fund has $3 billion in total assets, which is below the $6 billion average for the Large Blend category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.

FGRTX Performance and Fees

The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Fidelity Mega Cap Stock expense ratio is average compared to funds in the Large Blend category. Fidelity Mega Cap Stock has an expense ratio of 0.58%, which is 28% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.

High portfolio turnover can translate to higher expenses and lower aftertax returns. Fidelity Mega Cap Stock has a portfolio turnover rate of 15%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 48% for the Large Blend category.

Recently, in the month of June 2026, Fidelity Mega Cap Stock returned -0.4%, which earned it a grade of C, as the Large Blend category had an average return of -0.2%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.

Fidelity Mega Cap Stock has a trailing yield of 0.74%, which is above the 0.56% category average. The fund normally distributes its income semi-annually and its capital gains semi-annually.

It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.

Fidelity Mega Cap Stock Grades

Year to date, the fund has returned 9.9%, 0.9 percentage points better than the category, which translates into a grade of C. The fund has returned 24.4% over the past year (grade of A), 24.2% over the past three years (grade of A) and 16.3% per year over the past five years (grade of A) and 16.7% per year over the past 10 years (grade of A).

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