CZA vs. FSMDX
Compare and contrast key facts about Invesco Zacks Mid-Cap ETF (CZA) and Fidelity Mid Cap Index Fund (FSMDX).
CZA is a passively managed fund by Invesco that tracks the performance of the Zacks Mid-Cap Core Index. It was launched on Apr 2, 2007. FSMDX is managed by Fidelity. It was launched on Sep 8, 2011.
Performance
CZA vs. FSMDX - Performance Comparison
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CZA vs. FSMDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CZA Invesco Zacks Mid-Cap ETF | 0.36% | 8.31% | 12.14% | 7.00% | -5.91% | 27.42% | 0.35% | 32.27% | -8.89% | 21.90% |
FSMDX Fidelity Mid Cap Index Fund | 1.30% | 10.58% | 15.55% | 17.20% | -17.27% | 22.56% | 17.13% | 30.53% | -9.38% | 18.04% |
Returns By Period
In the year-to-date period, CZA achieves a 0.36% return, which is significantly lower than FSMDX's 1.30% return. Over the past 10 years, CZA has underperformed FSMDX with an annualized return of 10.03%, while FSMDX has yielded a comparatively higher 10.81% annualized return.
CZA
- 1D
- 0.96%
- 1M
- -6.03%
- YTD
- 0.36%
- 6M
- 2.80%
- 1Y
- 8.65%
- 3Y*
- 9.92%
- 5Y*
- 6.98%
- 10Y*
- 10.03%
FSMDX
- 1D
- 2.63%
- 1M
- -5.55%
- YTD
- 1.30%
- 6M
- 1.49%
- 1Y
- 15.54%
- 3Y*
- 13.39%
- 5Y*
- 6.99%
- 10Y*
- 10.81%
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CZA vs. FSMDX - Expense Ratio Comparison
CZA has a 0.69% expense ratio, which is higher than FSMDX's 0.03% expense ratio.
Return for Risk
CZA vs. FSMDX — Risk / Return Rank
CZA
FSMDX
CZA vs. FSMDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Zacks Mid-Cap ETF (CZA) and Fidelity Mid Cap Index Fund (FSMDX). 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.
| CZA | FSMDX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.49 | 0.84 | -0.36 |
Sortino ratioReturn per unit of downside risk | 0.81 | 1.30 | -0.49 |
Omega ratioGain probability vs. loss probability | 1.11 | 1.18 | -0.07 |
Calmar ratioReturn relative to maximum drawdown | 0.65 | 1.23 | -0.58 |
Martin ratioReturn relative to average drawdown | 2.74 | 5.73 | -2.99 |
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
| CZA | FSMDX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.49 | 0.84 | -0.36 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.44 | 0.38 | +0.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.52 | 0.56 | -0.04 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.46 | 0.66 | -0.20 |
Correlation
The correlation between CZA and FSMDX is 0.92, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
CZA vs. FSMDX - Dividend Comparison
CZA's dividend yield for the trailing twelve months is around 1.55%, more than FSMDX's 1.09% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CZA Invesco Zacks Mid-Cap ETF | 1.55% | 1.56% | 1.27% | 1.36% | 1.71% | 0.89% | 1.42% | 1.40% | 1.27% | 1.10% | 1.87% | 1.37% |
FSMDX Fidelity Mid Cap Index Fund | 1.09% | 1.10% | 2.46% | 1.39% | 2.07% | 3.35% | 2.34% | 2.86% | 2.21% | 2.17% | 2.23% | 2.84% |
Drawdowns
CZA vs. FSMDX - Drawdown Comparison
The maximum CZA drawdown since its inception was -53.20%, which is greater than FSMDX's maximum drawdown of -40.35%. Use the drawdown chart below to compare losses from any high point for CZA and FSMDX.
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Drawdown Indicators
| CZA | FSMDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.20% | -40.35% | -12.85% |
Max Drawdown (1Y)Largest decline over 1 year | -13.43% | -13.42% | -0.01% |
Max Drawdown (5Y)Largest decline over 5 years | -18.92% | -26.07% | +7.15% |
Max Drawdown (10Y)Largest decline over 10 years | -46.18% | -40.35% | -5.83% |
Current DrawdownCurrent decline from peak | -6.03% | -5.74% | -0.29% |
Average DrawdownAverage peak-to-trough decline | -6.93% | -5.00% | -1.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.17% | 2.89% | +0.28% |
Volatility
CZA vs. FSMDX - Volatility Comparison
The current volatility for Invesco Zacks Mid-Cap ETF (CZA) is 5.16%, while Fidelity Mid Cap Index Fund (FSMDX) has a volatility of 5.58%. This indicates that CZA experiences smaller price fluctuations and is considered to be less risky than FSMDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CZA | FSMDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.16% | 5.58% | -0.42% |
Volatility (6M)Calculated over the trailing 6-month period | 9.39% | 10.50% | -1.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.87% | 19.10% | -1.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.12% | 18.27% | -2.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.26% | 19.30% | -0.04% |