Key Takeaways
- • Fidelity Trend Fund (FTRNX) delivered 43.50% in one-year trailing returns as of April 30, 2026, significantly outperforming the S&P 500 TR USD by 12.45 percentage points and its large-cap growth category by 14.47 percentage points.
- • The fund charges an expense ratio of 0.74%, positioning it below the category average of 0.96%, offering cost efficiency relative to peer large-cap growth funds.
- • FTRNX ranks 11th in its category over the one-year period but displays above-average volatility risk compared to category peers, reflecting its growth-stock investment strategy and non-diversified portfolio structure.
- • Over longer periods, the fund has generated 30.14% returns over three years and 18.87% over a decade, demonstrating consistent outperformance across multiple time horizons.
- • The fund pursues a fundamental analysis-driven strategy focused on above-average growth potential companies, using financial condition assessment and industry positioning to construct a concentrated growth equity portfolio.
Summary
Fidelity Trend Fund (FTRNX) has demonstrated strong absolute performance in recent periods, returning 43.50% over the trailing twelve months through April 30, 2026. This performance substantially exceeded both broad market benchmarks and category peers, with the fund outperforming the S&P 500 TR USD by 12.45 percentage points and its large-cap growth category average by 14.47 percentage points. The fund's one-month trailing return of 15.03% and three-month return of 7.54% further illustrate recent momentum, though six-month returns of 4.43% suggest some deceleration in the near term.
The fund's longer-term track record reinforces its growth orientation, delivering 30.14% annualized returns over three years, 15.04% over five years, and 18.87% over ten years. Within its category, FTRNX ranked 11th over the one-year period and ranked similarly over three-year and ten-year horizons, indicating consistent performance positioning relative to large-cap growth peers. However, the fund's six-month ranking of 22nd suggests recent relative underperformance on intermediate timeframes.
FTRNX maintains a below-average cost structure with an expense ratio of 0.74%, compared to the large-cap growth category average of 0.96%. This 22 basis-point fee advantage enhances net returns for shareholders while the fund pursues its investment mandate. The fund invests primarily in common stocks of companies identified as having above-average growth potential through fundamental analysis of financial condition, industry position, and macroeconomic factors. Its non-diversified structure concentrates holdings in selected opportunities, contributing to both its outperformance potential and elevated risk profile.
Morningstar characterizes FTRNX as carrying above-average risk compared to category peers, a reflection of its concentrated growth-stock strategy and non-diversified portfolio construction. Investors seeking capital appreciation through a growth-focused equity strategy should weigh this elevated volatility against the fund's demonstrated long-term performance track record and below-average fee structure.
The fund's longer-term track record reinforces its growth orientation, delivering 30.14% annualized returns over three years, 15.04% over five years, and 18.87% over ten years. Within its category, FTRNX ranked 11th over the one-year period and ranked similarly over three-year and ten-year horizons, indicating consistent performance positioning relative to large-cap growth peers. However, the fund's six-month ranking of 22nd suggests recent relative underperformance on intermediate timeframes.
FTRNX maintains a below-average cost structure with an expense ratio of 0.74%, compared to the large-cap growth category average of 0.96%. This 22 basis-point fee advantage enhances net returns for shareholders while the fund pursues its investment mandate. The fund invests primarily in common stocks of companies identified as having above-average growth potential through fundamental analysis of financial condition, industry position, and macroeconomic factors. Its non-diversified structure concentrates holdings in selected opportunities, contributing to both its outperformance potential and elevated risk profile.
Morningstar characterizes FTRNX as carrying above-average risk compared to category peers, a reflection of its concentrated growth-stock strategy and non-diversified portfolio construction. Investors seeking capital appreciation through a growth-focused equity strategy should weigh this elevated volatility against the fund's demonstrated long-term performance track record and below-average fee structure.
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