FLAPX vs. VO
Compare and contrast key facts about Fidelity Flex Mid Cap Index Fund (FLAPX) and Vanguard Mid-Cap ETF (VO).
FLAPX is managed by Fidelity. It was launched on Mar 9, 2017. VO is a passively managed fund by Vanguard that tracks the performance of the CRSP US Mid Cap Index. It was launched on Jan 26, 2004.
Performance
FLAPX vs. VO - Performance Comparison
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FLAPX vs. VO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FLAPX Fidelity Flex Mid Cap Index Fund | -0.79% | 14.33% | 15.30% | 17.28% | -17.28% | 22.59% | 17.30% | 30.56% | -9.10% | 14.01% |
VO Vanguard Mid-Cap ETF | -0.68% | 11.62% | 15.31% | 16.03% | -18.73% | 24.70% | 18.10% | 30.98% | -9.24% | 13.50% |
Returns By Period
In the year-to-date period, FLAPX achieves a -0.79% return, which is significantly lower than VO's -0.68% return.
FLAPX
- 1D
- -1.02%
- 1M
- -8.39%
- YTD
- -0.79%
- 6M
- 1.43%
- 1Y
- 17.43%
- 3Y*
- 13.78%
- 5Y*
- 7.53%
- 10Y*
- —
VO
- 1D
- 2.22%
- 1M
- -5.86%
- YTD
- -0.68%
- 6M
- -1.48%
- 1Y
- 12.73%
- 3Y*
- 12.61%
- 5Y*
- 6.66%
- 10Y*
- 10.67%
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FLAPX vs. VO - Expense Ratio Comparison
FLAPX has a 0.00% expense ratio, which is lower than VO's 0.04% 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
FLAPX vs. VO — Risk / Return Rank
FLAPX
VO
FLAPX vs. VO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Flex Mid Cap Index Fund (FLAPX) and Vanguard Mid-Cap ETF (VO). 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.
| FLAPX | VO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.90 | 0.73 | +0.17 |
Sortino ratioReturn per unit of downside risk | 1.37 | 1.12 | +0.24 |
Omega ratioGain probability vs. loss probability | 1.19 | 1.16 | +0.03 |
Calmar ratioReturn relative to maximum drawdown | 1.13 | 1.05 | +0.08 |
Martin ratioReturn relative to average drawdown | 5.07 | 4.84 | +0.23 |
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
| FLAPX | VO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.90 | 0.73 | +0.17 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.41 | 0.38 | +0.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.57 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.53 | 0.48 | +0.05 |
Correlation
The correlation between FLAPX and VO is 0.99, 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
FLAPX vs. VO - Dividend Comparison
FLAPX has not paid dividends to shareholders, while VO's dividend yield for the trailing twelve months is around 1.51%.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FLAPX Fidelity Flex Mid Cap Index Fund | 0.00% | 0.00% | 1.08% | 1.99% | 1.82% | 2.83% | 2.16% | 2.18% | 2.24% | 0.44% | 0.00% | 0.00% |
VO Vanguard Mid-Cap ETF | 1.51% | 1.52% | 1.49% | 1.52% | 1.60% | 1.12% | 1.45% | 1.48% | 1.82% | 1.35% | 1.45% | 1.47% |
Drawdowns
FLAPX vs. VO - Drawdown Comparison
The maximum FLAPX drawdown since its inception was -40.31%, smaller than the maximum VO drawdown of -58.87%. Use the drawdown chart below to compare losses from any high point for FLAPX and VO.
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Drawdown Indicators
| FLAPX | VO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.31% | -58.87% | +18.56% |
Max Drawdown (1Y)Largest decline over 1 year | -13.40% | -12.74% | -0.66% |
Max Drawdown (5Y)Largest decline over 5 years | -26.09% | -27.57% | +1.48% |
Max Drawdown (10Y)Largest decline over 10 years | — | -39.37% | — |
Current DrawdownCurrent decline from peak | -9.21% | -6.12% | -3.09% |
Average DrawdownAverage peak-to-trough decline | -6.21% | -7.91% | +1.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.00% | 2.76% | +0.24% |
Volatility
FLAPX vs. VO - Volatility Comparison
Fidelity Flex Mid Cap Index Fund (FLAPX) has a higher volatility of 6.04% compared to Vanguard Mid-Cap ETF (VO) at 4.89%. This indicates that FLAPX's price experiences larger fluctuations and is considered to be riskier than VO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FLAPX | VO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.04% | 4.89% | +1.15% |
Volatility (6M)Calculated over the trailing 6-month period | 11.93% | 9.72% | +2.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.19% | 17.57% | +2.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.49% | 17.62% | +0.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.02% | 18.94% | +1.08% |