FIMVX vs. SWPPX

Last updated Jun 4, 2026

FIMVX (Fidelity Mid Cap Value Index Fund) and SWPPX (Schwab S&P 500 Index Fund) are both mutual funds - FIMVX is a Mid Cap Value Equities fund managed by Fidelity, while SWPPX is a Large Cap Blend Equities fund tracking the S&P 500 Index. Over the past 5 years, FIMVX returned 8.64%/yr vs 14.26%/yr for SWPPX. Their correlation of 0.84 suggests significant overlap in exposure. FIMVX charges 0.05%/yr vs 0.02%/yr for SWPPX.

Performance

FIMVX vs. SWPPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Mid Cap Value Index Fund (FIMVX) and Schwab S&P 500 Index Fund (SWPPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FIMVX achieves a 15.21% return, which is significantly higher than SWPPX's 11.69% return.

FIMVX

• 1D: 0.95%
• 1M: 3.80%
• YTD: 15.21%
• 6M: 15.28%
• 1Y: 27.24%
• 3Y*: 17.61%
• 5Y*: 8.64%
• 10Y*: —

SWPPX

• 1D: 0.15%
• 1M: 5.83%
• YTD: 11.69%
• 6M: 11.71%
• 1Y: 28.97%
• 3Y*: 22.73%
• 5Y*: 14.26%
• 10Y*: 15.63%

*Multi-year figures are annualized to reflect compound growth (CAGR)

FIMVX vs. SWPPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FIMVX Fidelity Mid Cap Value Index Fund	15.21%	11.01%	13.02%	12.75%	-12.08%	28.21%	4.74%	7.42%
SWPPX Schwab S&P 500 Index Fund	11.69%	17.87%	24.96%	26.26%	-18.14%	28.67%	18.38%	9.24%

Correlation

The correlation between FIMVX and SWPPX is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.72
Correlation (3Y) Calculated over the trailing 3-year period	0.76
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (All Time) Calculated using the full available price history since Jul 18, 2019	0.84

The correlation between FIMVX and SWPPX shifts across timeframes, from 0.72 (1 year) to 0.84 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

FIMVX vs. SWPPX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FIMVX

FIMVX Risk / Return Rank: 63
FIMVX Sharpe Ratio Rank: 54
FIMVX Sortino Ratio Rank: 54
FIMVX Omega Ratio Rank: 48
FIMVX Calmar Ratio Rank: 82
FIMVX Martin Ratio Rank: 76

SWPPX

SWPPX Risk / Return Rank: 73
SWPPX Sharpe Ratio Rank: 75
SWPPX Sortino Ratio Rank: 67
SWPPX Omega Ratio Rank: 67
SWPPX Calmar Ratio Rank: 74
SWPPX Martin Ratio Rank: 83

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.

FIMVX vs. SWPPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Mid Cap Value Index Fund (FIMVX) and Schwab S&P 500 Index Fund (SWPPX). 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.

	FIMVX	SWPPX	Difference
Sharpe ratio: Return per unit of total volatility	2.17	2.52	-0.35
Sortino ratio: Return per unit of downside risk	3.09	3.41	-0.32
Omega ratio: Gain probability vs. loss probability	1.38	1.46	-0.08
Calmar ratio: Return relative to maximum drawdown	3.79	3.36	+0.44
Martin ratio: Return relative to average drawdown	14.28	15.67	-1.40
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FIMVX vs. SWPPX - Sharpe Ratio Comparison

The current FIMVX Sharpe Ratio is 2.17, which is comparable to the SWPPX Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of FIMVX and SWPPX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FIMVX	SWPPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.17	2.52	-0.35
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.50	0.85	-0.35
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.86	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.51	0.51	0.00

Drawdowns

FIMVX vs. SWPPX - Drawdown Comparison

The maximum FIMVX drawdown since its inception was -43.61%, smaller than the maximum SWPPX drawdown of -55.06%. Use the drawdown chart below to compare losses from any high point for FIMVX and SWPPX.

Drawdown Indicators

	FIMVX	SWPPX	Difference
Max Drawdown Largest peak-to-trough decline	-43.61%	-55.06%	+11.45%
Max Drawdown (1Y) Largest decline over 1 year	-7.52%	-8.89%	+1.37%
Max Drawdown (3Y) Largest decline over 3 years	-20.40%	-18.74%	-1.66%
Max Drawdown (5Y) Largest decline over 5 years	-21.23%	-24.51%	+3.28%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.80%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-6.43%	-9.95%	+3.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.00%	1.90%	+0.10%

Volatility

FIMVX vs. SWPPX - Volatility Comparison

Fidelity Mid Cap Value Index Fund (FIMVX) has a higher volatility of 3.45% compared to Schwab S&P 500 Index Fund (SWPPX) at 2.83%. This indicates that FIMVX's price experiences larger fluctuations and is considered to be riskier than SWPPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FIMVX	SWPPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.45%	2.83%	+0.62%
Volatility (6M) Calculated over the trailing 6-month period	9.56%	8.98%	+0.58%
Volatility (1Y) Calculated over the trailing 1-year period	13.16%	11.87%	+1.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.32%	16.93%	+0.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.84%	18.23%	+3.61%

FIMVX vs. SWPPX - Expense Ratio Comparison

FIMVX has a 0.05% expense ratio, which is higher than SWPPX's 0.02% 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

FIMVX vs. SWPPX - Dividend Comparison

FIMVX's dividend yield for the trailing twelve months is around 2.15%, more than SWPPX's 0.99% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIMVX Fidelity Mid Cap Value Index Fund	2.15%	2.48%	4.44%	1.89%	2.75%	5.62%	1.23%	0.63%	0.00%	0.00%	0.00%	0.00%
SWPPX Schwab S&P 500 Index Fund	0.99%	1.11%	1.23%	1.43%	1.67%	1.27%	1.81%	1.95%	2.67%	1.79%	2.55%	3.17%

Frequently Asked Questions

Can I hold both FIMVX and SWPPX in my portfolio?

FIMVX and SWPPX have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FIMVX or SWPPX?

FIMVX has higher volatility (3.45%) compared to SWPPX (2.83%). In terms of maximum drawdown, FIMVX dropped -43.61% vs SWPPX's -55.06%.

Which has better risk-adjusted returns?

SWPPX currently has the higher Sharpe Ratio (2.52 vs 2.17), 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.