FDFIX vs. SPY
Compare and contrast key facts about Fidelity Flex 500 Index Fund (FDFIX) and State Street SPDR S&P 500 ETF (SPY).
FDFIX is managed by Fidelity. It was launched on Mar 9, 2017. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Performance
FDFIX vs. SPY - Performance Comparison
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FDFIX vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FDFIX Fidelity Flex 500 Index Fund | -7.27% | 17.59% | 25.06% | 26.27% | -18.10% | 28.69% | 18.46% | 31.47% | -4.45% | 14.41% |
SPY State Street SPDR S&P 500 ETF | -4.37% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 18.33% | 31.22% | -4.57% | 14.86% |
Returns By Period
In the year-to-date period, FDFIX achieves a -7.27% return, which is significantly lower than SPY's -4.37% return.
FDFIX
- 1D
- -0.33%
- 1M
- -7.59%
- YTD
- -7.27%
- 6M
- -4.96%
- 1Y
- 13.90%
- 3Y*
- 17.02%
- 5Y*
- 11.31%
- 10Y*
- —
SPY
- 1D
- 2.91%
- 1M
- -4.94%
- YTD
- -4.37%
- 6M
- -1.82%
- 1Y
- 17.59%
- 3Y*
- 18.19%
- 5Y*
- 11.69%
- 10Y*
- 13.98%
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FDFIX vs. SPY - Expense Ratio Comparison
FDFIX has a 0.00% expense ratio, which is lower than SPY's 0.09% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Return for Risk
FDFIX vs. SPY — Risk / Return Rank
FDFIX
SPY
FDFIX vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Flex 500 Index Fund (FDFIX) and State Street SPDR S&P 500 ETF (SPY). 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.
| FDFIX | SPY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.81 | 0.93 | -0.12 |
Sortino ratioReturn per unit of downside risk | 1.26 | 1.45 | -0.20 |
Omega ratioGain probability vs. loss probability | 1.19 | 1.22 | -0.03 |
Calmar ratioReturn relative to maximum drawdown | 0.96 | 1.53 | -0.57 |
Martin ratioReturn relative to average drawdown | 4.59 | 7.30 | -2.71 |
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
| FDFIX | SPY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.81 | 0.93 | -0.12 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.67 | 0.69 | -0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.78 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.71 | 0.56 | +0.15 |
Correlation
The correlation between FDFIX and SPY is 1.00, 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
FDFIX vs. SPY - Dividend Comparison
FDFIX's dividend yield for the trailing twelve months is around 1.20%, more than SPY's 1.14% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FDFIX Fidelity Flex 500 Index Fund | 1.20% | 1.11% | 1.26% | 1.48% | 1.70% | 1.27% | 1.52% | 1.78% | 2.16% | 0.50% | 0.00% | 0.00% |
SPY State Street SPDR S&P 500 ETF | 1.14% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
Drawdowns
FDFIX vs. SPY - Drawdown Comparison
The maximum FDFIX drawdown since its inception was -33.77%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for FDFIX and SPY.
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Drawdown Indicators
| FDFIX | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.77% | -55.19% | +21.42% |
Max Drawdown (1Y)Largest decline over 1 year | -12.13% | -12.05% | -0.08% |
Max Drawdown (5Y)Largest decline over 5 years | -24.51% | -24.50% | -0.01% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.72% | — |
Current DrawdownCurrent decline from peak | -8.99% | -6.24% | -2.75% |
Average DrawdownAverage peak-to-trough decline | -4.64% | -9.09% | +4.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.60% | 2.52% | +0.08% |
Volatility
FDFIX vs. SPY - Volatility Comparison
The current volatility for Fidelity Flex 500 Index Fund (FDFIX) is 4.22%, while State Street SPDR S&P 500 ETF (SPY) has a volatility of 5.31%. This indicates that FDFIX experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FDFIX | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.22% | 5.31% | -1.09% |
Volatility (6M)Calculated over the trailing 6-month period | 9.16% | 9.47% | -0.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.20% | 19.05% | -0.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.91% | 17.06% | -0.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.68% | 17.92% | +0.76% |