FDMLX vs. IWS
FDMLX (Fidelity Series Intrinsic Opportunities Fund) and IWS (iShares Russell Mid-Cap Value ETF) are both Mid Cap Value Equities funds. Over the past 10 years, FDMLX returned 13.19%/yr vs 10.56%/yr for IWS. Their correlation of 0.90 suggests significant overlap in exposure. FDMLX charges 0.00%/yr vs 0.23%/yr for IWS.
Performance
FDMLX vs. IWS - Performance Comparison
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Returns By Period
In the year-to-date period, FDMLX achieves a 12.14% return, which is significantly lower than IWS's 15.78% return. Over the past 10 years, FDMLX has outperformed IWS with an annualized return of 13.19%, while IWS has yielded a comparatively lower 10.56% annualized return.
FDMLX
- 1D
- 0.17%
- 1M
- 4.29%
- YTD
- 12.14%
- 6M
- 10.99%
- 1Y
- 23.68%
- 3Y*
- 17.18%
- 5Y*
- 10.82%
- 10Y*
- 13.19%
IWS
- 1D
- -1.08%
- 1M
- 2.64%
- YTD
- 15.78%
- 6M
- 14.47%
- 1Y
- 26.77%
- 3Y*
- 17.23%
- 5Y*
- 8.94%
- 10Y*
- 10.56%
FDMLX vs. IWS - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FDMLX Fidelity Series Intrinsic Opportunities Fund | 12.14% | 11.64% | 10.76% | 19.77% | -3.24% | 27.54% | 11.45% | 17.72% | -7.17% | 24.39% |
IWS iShares Russell Mid-Cap Value ETF | 15.78% | 10.82% | 12.91% | 12.52% | -12.29% | 28.10% | 4.83% | 26.73% | -12.43% | 13.14% |
Correlation
The correlation between FDMLX and IWS is 0.93, 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 | 0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.91 |
Correlation (All Time) Calculated using the full available price history since Dec 7, 2012 | 0.90 |
The correlation between FDMLX and IWS has been stable across timeframes, ranging from 0.90 to 0.94 - a consistent structural relationship.
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Return for Risk
FDMLX vs. IWS — Risk / Return Rank
FDMLX
IWS
FDMLX vs. IWS - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Series Intrinsic Opportunities Fund (FDMLX) and iShares Russell Mid-Cap Value ETF (IWS). 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.
| FDMLX | IWS | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.27 | ||
| Sortino ratioReturn per unit of downside risk | -0.29 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.34 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.68 | 3.57 | -0.89 |
| Martin ratioReturn relative to average drawdown | 8.72 | 13.39 | -4.67 |
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Drawdowns
FDMLX vs. IWS - Drawdown Comparison
The maximum FDMLX drawdown since its inception was -35.03%, smaller than the maximum IWS drawdown of -62.40%. Use the drawdown chart below to compare losses from any high point for FDMLX and IWS.
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Drawdown Indicators
| FDMLX | IWS | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.03% | -62.40% | +27.37% |
Max Drawdown (1Y)Largest decline over 1 year | -9.19% | -7.53% | -1.66% |
Max Drawdown (3Y)Largest decline over 3 years | -23.52% | -20.57% | -2.95% |
Max Drawdown (5Y)Largest decline over 5 years | -23.52% | -21.23% | -2.29% |
Max Drawdown (10Y)Largest decline over 10 years | -35.03% | -43.83% | +8.80% |
Current DrawdownCurrent decline from peak | -0.67% | -1.24% | +0.57% |
Average DrawdownAverage peak-to-trough decline | -4.55% | -8.00% | +3.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.82% | 2.00% | +0.82% |
Volatility
FDMLX vs. IWS - Volatility Comparison
The current volatility for Fidelity Series Intrinsic Opportunities Fund (FDMLX) is 3.43%, while iShares Russell Mid-Cap Value ETF (IWS) has a volatility of 4.37%. This indicates that FDMLX experiences smaller price fluctuations and is considered to be less risky than IWS based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FDMLX | IWS | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.43% | 4.37% | -0.94% |
Volatility (6M)Calculated over the trailing 6-month period | 9.84% | 10.12% | -0.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.38% | 13.57% | +0.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.88% | 17.33% | +4.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.21% | 19.35% | -0.14% |
FDMLX vs. IWS - Expense Ratio Comparison
FDMLX has a 0.00% expense ratio, which is lower than IWS's 0.23% 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%.
Dividends
FDMLX vs. IWS - Dividend Comparison
FDMLX's dividend yield for the trailing twelve months is around 10.37%, more than IWS's 1.34% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FDMLX Fidelity Series Intrinsic Opportunities Fund | 10.37% | 11.63% | 12.75% | 24.60% | 65.08% | 18.63% | 4.18% | 4.94% | 9.28% | 4.53% | 1.51% | 5.76% |
IWS iShares Russell Mid-Cap Value ETF | 1.34% | 1.53% | 1.50% | 1.76% | 1.93% | 1.39% | 1.87% | 1.97% | 2.53% | 1.96% | 2.10% | 2.14% |
Frequently Asked Questions
With a correlation of 0.93, FDMLX and IWS move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
IWS has higher volatility (4.37%) compared to FDMLX (3.43%). In terms of maximum drawdown, FDMLX dropped -35.03% vs IWS's -62.40%.
IWS currently has the higher Sharpe Ratio (1.98 vs 1.71), 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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