FGRO ETF: what Fidelity All-in-One Growth ETF is, what it holds, and how it works
Short answer: FGRO is Fidelity’s 85/15 stock-bond one-ticker growth wrapper. Listed in January 2021, 0.42% MER, 19.8% three-year annualized return through May 2026. Uses Fidelity’s actively managed underlying funds, not index trackers. about $5.9 billion AUM.
FGRO is the growth-tilted sibling to FBAL. Same active overlay, more equity exposure.
Not financial advice. Fund details change. Check current disclosures.
What FGRO actually is
TSX-listed, CAD-denominated, fund-of-funds over Fidelity’s active underlying funds.
| Attribute | Value |
|---|---|
| Ticker | FGRO (Cboe Canada) |
| Inception | January 21, 2021 |
| Asset mix | about 85/15 stocks/bonds, active underlying funds |
| MER | 0.42% |
| Net assets | about $5.9B (May 2026) |
| 3-year annualized return | 19.8% (through May 19, 2026) |
What FGRO holds
The fee
FGRO costs roughly twice what XGRO costs. Same trade-off as FBAL.
Tax treatment
How FGRO compares to alternatives
- FGRO vs XGRO or MGRW. Same 80/20 to 85/15 category. FGRO costs roughly 22 to 24 bps more for the active overlay.
- FGRO vs FBAL. FGRO is the 85/15 growth version, FBAL is the 60/40 balanced version. Both use the same Fidelity active underlyings.
- FGRO vs GGRO. GGRO is iShares’ 80/20 wrapper with ESG screen at 0.24%. Cheaper, different overlay.
Frequently asked questions
What is FGRO.TO?
Fidelity All-in-One Growth ETF. A one-ticker 85/15 stock-bond wrapper that holds Fidelity’s actively managed underlying funds.
What is FGRO’s MER?
0.42%. Higher than XGRO (0.20%), VGRO (0.24%), and MGRW (0.18%) because of the active underlying funds.
How big is FGRO?
about $5.9 billion AUM as of May 2026. The second-largest fund on the Morningstar Five Star and Gold list of 2020 and 2021 launches, behind FBAL.
Has FGRO beaten the index-based growth wrappers?
Over the three years through May 2026, FGRO has roughly matched or modestly beat XGRO and VGRO after fees. The longer-term answer depends on whether Fidelity’s active edge persists.
Where should I hold FGRO?
Inside a registered account (TFSA, RRSP, FHSA, RESP, RDSP). The higher distribution turnover makes the registered shelter more valuable.
Why pay more for FGRO than for XGRO?
If you specifically value Fidelity’s active stock-picking and allocation overlay, FGRO is the way to express that in one ticker. If you don’t have that preference, XGRO is the cheaper structural equivalent.
The honest verdict
Bottom line
FGRO has won assets by combining Fidelity’s brand and active overlay with the one-ticker convenience of an allocation ETF. The performance has been competitive. The fee gap to index alternatives is real. Choose deliberately based on whether you value the active overlay enough to pay the premium.
More in DIY Investing
FBAL ETF: what Fidelity All-in-One Balanced ETF is, what it holds, and how it works
FCGI ETF: what Fidelity Global Monthly High Income ETF is, what it holds, and how it works
MGRW ETF: what Mackenzie Growth Allocation ETF is, what it holds, and how it works
20 newer Canadian ETFs that have earned a real track record
FBAL ETF: what Fidelity All-in-One Balanced ETF is, what it holds, and how it works
FBAL is Fidelity's $11B 60/40 all-in-one balanced ETF. Listed 2021, 0.40% MER, 15.1% three-year return. Active underlying funds, not index.
FCGI ETF: what Fidelity Global Monthly High Income ETF is, what it holds, and how it works
MGRW ETF: what Mackenzie Growth Allocation ETF is, what it holds, and how it works
MGRW is Mackenzie's 80/20 growth allocation ETF. Listed 2020, 0.18% MER, 18.0% three-year return. The cheapest growth wrapper here.
20 newer Canadian ETFs that have earned a real track record
Greenline connects all your investment accounts in one view. See how it works.