CCSMX vs. FSMAX
CCSMX (Conestoga SMid Cap Fund) and FSMAX (Fidelity Extended Market Index Fund) are both Mid Cap Growth Equities funds. Over the past 10 years, CCSMX returned 9.55%/yr vs 12.05%/yr for FSMAX. Their correlation of 0.91 suggests significant overlap in exposure. CCSMX charges 1.10%/yr vs 0.04%/yr for FSMAX.
Performance
CCSMX vs. FSMAX - Performance Comparison
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Returns By Period
In the year-to-date period, CCSMX achieves a -6.32% return, which is significantly lower than FSMAX's 13.67% return. Over the past 10 years, CCSMX has underperformed FSMAX with an annualized return of 9.55%, while FSMAX has yielded a comparatively higher 12.05% annualized return.
CCSMX
- 1D
- 0.78%
- 1M
- 1.10%
- YTD
- -6.32%
- 6M
- -5.54%
- 1Y
- -8.35%
- 3Y*
- 2.52%
- 5Y*
- -1.06%
- 10Y*
- 9.55%
FSMAX
- 1D
- 0.26%
- 1M
- 4.31%
- YTD
- 13.67%
- 6M
- 13.96%
- 1Y
- 30.51%
- 3Y*
- 19.71%
- 5Y*
- 6.47%
- 10Y*
- 12.05%
CCSMX vs. FSMAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CCSMX Conestoga SMid Cap Fund | -6.32% | -5.91% | 10.44% | 25.77% | -29.47% | 15.26% | 28.44% | 33.48% | -0.09% | 34.11% |
FSMAX Fidelity Extended Market Index Fund | 13.67% | 11.40% | 16.99% | 25.36% | -26.44% | 12.41% | 32.28% | 28.01% | -9.44% | 18.04% |
Correlation
The correlation between CCSMX and FSMAX is 0.83, 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 | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.88 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.90 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since Jan 23, 2014 | 0.91 |
The correlation between CCSMX and FSMAX has been stable across timeframes, ranging from 0.83 to 0.91 - a consistent structural relationship.
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Return for Risk
CCSMX vs. FSMAX — Risk / Return Rank
CCSMX
FSMAX
CCSMX vs. FSMAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Conestoga SMid Cap Fund (CCSMX) and Fidelity Extended Market Index Fund (FSMAX). 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.
| CCSMX | FSMAX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.53 | 1.80 | -2.33 |
Sortino ratioReturn per unit of downside risk | -0.69 | 2.52 | -3.20 |
Omega ratioGain probability vs. loss probability | 0.93 | 1.31 | -0.38 |
Calmar ratioReturn relative to maximum drawdown | -0.47 | 2.97 | -3.44 |
Martin ratioReturn relative to average drawdown | -1.04 | 10.52 | -11.56 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CCSMX | FSMAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.53 | 1.80 | -2.33 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.05 | 0.29 | -0.34 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.47 | 0.40 | +0.07 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.36 | 0.46 | -0.10 |
Drawdowns
CCSMX vs. FSMAX - Drawdown Comparison
The maximum CCSMX drawdown since its inception was -37.34%, smaller than the maximum FSMAX drawdown of -50.55%. Use the drawdown chart below to compare losses from any high point for CCSMX and FSMAX.
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Drawdown Indicators
| CCSMX | FSMAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.34% | -50.55% | +13.21% |
Max Drawdown (1Y)Largest decline over 1 year | -18.40% | -10.26% | -8.14% |
Max Drawdown (3Y)Largest decline over 3 years | -25.00% | -26.82% | +1.82% |
Max Drawdown (5Y)Largest decline over 5 years | -37.34% | -36.31% | -1.03% |
Max Drawdown (10Y)Largest decline over 10 years | -37.34% | -50.55% | +13.21% |
Current DrawdownCurrent decline from peak | -19.92% | 0.00% | -19.92% |
Average DrawdownAverage peak-to-trough decline | -10.21% | -12.17% | +1.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.32% | 2.90% | +5.42% |
Volatility
CCSMX vs. FSMAX - Volatility Comparison
The current volatility for Conestoga SMid Cap Fund (CCSMX) is 4.31%, while Fidelity Extended Market Index Fund (FSMAX) has a volatility of 4.63%. This indicates that CCSMX experiences smaller price fluctuations and is considered to be less risky than FSMAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CCSMX | FSMAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.31% | 4.63% | -0.32% |
Volatility (6M)Calculated over the trailing 6-month period | 12.01% | 12.44% | -0.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.64% | 17.18% | -0.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.47% | 22.32% | -1.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.39% | 30.24% | -9.85% |
CCSMX vs. FSMAX - Expense Ratio Comparison
CCSMX has a 1.10% expense ratio, which is higher than FSMAX's 0.04% expense ratio.
Dividends
CCSMX vs. FSMAX - Dividend Comparison
CCSMX's dividend yield for the trailing twelve months is around 2.33%, more than FSMAX's 0.50% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CCSMX Conestoga SMid Cap Fund | 2.33% | 2.18% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 1.33% | 1.04% | 0.33% | 0.00% | 0.00% |
FSMAX Fidelity Extended Market Index Fund | 0.50% | 0.57% | 0.48% | 1.17% | 1.90% | 7.49% | 2.14% | 4.30% | 6.09% | 5.44% | 4.85% | 6.34% |
Frequently Asked Questions
CCSMX and FSMAX have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FSMAX has higher volatility (4.63%) compared to CCSMX (4.31%). In terms of maximum drawdown, CCSMX dropped -37.34% vs FSMAX's -50.55%.
FSMAX currently has the higher Sharpe Ratio (1.80 vs -0.53), 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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