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AVMC vs. FMDGX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

AVMC vs. FMDGX

Last updated Jun 23, 2026

AVMC (Avantis U.S. Mid Cap Equity ETF) and FMDGX (Fidelity Mid Cap Growth Index Fund) are both funds - AVMC is a Mid Cap Blend Equities fund actively managed by Avantis, while FMDGX is a Mid Cap Growth Equities fund tracking the Russell Midcap Growth Index. AVMC is actively managed, while FMDGX is passively managed. Over the past year, AVMC returned 24.86% vs 6.22% for FMDGX. Their correlation of 0.84 suggests significant overlap in exposure. AVMC charges 0.20%/yr vs 0.05%/yr for FMDGX.

Performance

AVMC vs. FMDGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Avantis U.S. Mid Cap Equity ETF (AVMC) and Fidelity Mid Cap Growth Index Fund (FMDGX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, AVMC achieves a 13.20% return, which is significantly higher than FMDGX's 3.93% return.

AVMC

1D
0.45%
1M
2.39%
YTD
13.20%
6M
11.34%
1Y
24.86%
3Y*
—
5Y*
—
10Y*
—

FMDGX

1D
1.05%
1M
1.93%
YTD
3.93%
6M
1.36%
1Y
6.22%
3Y*
14.87%
5Y*
6.11%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

AVMC vs. FMDGX - Yearly Performance Comparison

2026 (YTD)202520242023
AVMC
Avantis U.S. Mid Cap Equity ETF		13.20%9.98%16.84%14.02%
FMDGX
Fidelity Mid Cap Growth Index Fund		3.93%8.60%22.03%14.71%

Correlation

The correlation between AVMC and FMDGX is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.82

Correlation (All Time)
Calculated using the full available price history since Nov 9, 2023

0.84

The correlation between AVMC and FMDGX has been stable across timeframes, ranging from 0.82 to 0.84 - a consistent structural relationship.

Compare stocks, funds, or ETFs

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Avantis U.S. Mid Cap Equity ETF

Fidelity Mid Cap Growth Index Fund

Often compared with AVMC:
AVMC vs. AVMVAVMC vs. VOTAVMC vs. IMCGAVMC vs. IMCBAVMC vs. VEMPXAVMC vs. IVOGAVMC vs. SPMD
Often compared with FMDGX:
FMDGX vs. FSMDXFMDGX vs. VOTFMDGX vs. FSPGXFMDGX vs. FXAIXFMDGX vs. FIMVXFMDGX vs. VMGIXFMDGX vs. VOO

Return for Risk

AVMC vs. FMDGX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
AVMC
AVMC Risk / Return Rank: 5858
Overall Rank
AVMC Sharpe Ratio Rank: 5454
Sharpe Ratio Rank
AVMC Sortino Ratio Rank: 5555
Sortino Ratio Rank
AVMC Omega Ratio Rank: 5151
Omega Ratio Rank
AVMC Calmar Ratio Rank: 6666
Calmar Ratio Rank
AVMC Martin Ratio Rank: 6666
Martin Ratio Rank
FMDGX
FMDGX Risk / Return Rank: 55
Overall Rank
FMDGX Sharpe Ratio Rank: 55
Sharpe Ratio Rank
FMDGX Sortino Ratio Rank: 55
Sortino Ratio Rank
FMDGX Omega Ratio Rank: 55
Omega Ratio Rank
FMDGX Calmar Ratio Rank: 55
Calmar Ratio Rank
FMDGX Martin Ratio Rank: 55
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AVMC vs. FMDGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avantis U.S. Mid Cap Equity ETF (AVMC) and Fidelity Mid Cap Growth Index Fund (FMDGX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

AVMCFMDGXDifference
Sharpe ratioReturn per unit of total volatility
1.78
0.35

+1.44

Sortino ratioReturn per unit of downside risk
2.57
0.61

+1.96

Omega ratioGain probability vs. loss probability

1.31

1.07

+0.24

Calmar ratioReturn relative to maximum drawdown

3.16

0.40

+2.76

Martin ratioReturn relative to average drawdown

11.76

1.16

+10.60

AVMC vs. FMDGX - Sharpe Ratio Comparison

The current AVMC Sharpe Ratio is 1.78, which is higher than the FMDGX Sharpe Ratio of 0.35. The chart below compares the historical Sharpe Ratios of AVMC and FMDGX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

AVMC vs. FMDGX - Drawdown Comparison

The maximum AVMC drawdown since its inception was -21.84%, smaller than the maximum FMDGX drawdown of -38.59%. Use the drawdown chart below to compare losses from any high point for AVMC and FMDGX.

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Drawdown Indicators

AVMCFMDGXDifference

Max Drawdown

Largest peak-to-trough decline

-21.84%

-38.59%

+16.75%

Max Drawdown (1Y)

Largest decline over 1 year

-7.90%

-14.75%

+6.85%

Max Drawdown (3Y)

Largest decline over 3 years

—

-25.30%

—

Max Drawdown (5Y)

Largest decline over 5 years

—

-38.59%

—

Current Drawdown

Current decline from peak

-0.43%

-1.97%

+1.54%

Average Drawdown

Average peak-to-trough decline

-3.17%

-11.14%

+7.97%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.12%

5.09%

-2.97%

Volatility

AVMC vs. FMDGX - Volatility Comparison

The current volatility for Avantis U.S. Mid Cap Equity ETF (AVMC) is 4.05%, while Fidelity Mid Cap Growth Index Fund (FMDGX) has a volatility of 5.90%. This indicates that AVMC experiences smaller price fluctuations and is considered to be less risky than FMDGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

AVMCFMDGXDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.05%

5.90%

-1.85%

Volatility (6M)

Calculated over the trailing 6-month period

10.33%

13.43%

-3.10%

Volatility (1Y)

Calculated over the trailing 1-year period

14.03%

17.04%

-3.01%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.96%

22.45%

-5.49%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.96%

24.31%

-7.35%

AVMC vs. FMDGX - Expense Ratio Comparison

AVMC has a 0.20% expense ratio, which is higher than FMDGX's 0.05% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

AVMC vs. FMDGX - Dividend Comparison

AVMC's dividend yield for the trailing twelve months is around 1.21%, less than FMDGX's 1.78% yield.

PositionTTM2025202420232022202120202019
AVMC
Avantis U.S. Mid Cap Equity ETF		1.21%1.12%1.02%0.24%0.00%0.00%0.00%0.00%
FMDGX
Fidelity Mid Cap Growth Index Fund		1.78%1.85%0.47%0.63%0.81%6.43%0.36%0.29%

Frequently Asked Questions

AVMC and FMDGX have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

FMDGX has higher volatility (5.90%) compared to AVMC (4.05%). In terms of maximum drawdown, AVMC dropped -21.84% vs FMDGX's -38.59%.

AVMC currently has the higher Sharpe Ratio (1.78 vs 0.35), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.

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