FLXSX vs. ^CASHX
FLXSX (Fidelity Flex Small Cap Index Fund) is Small Cap Blend Equities fund managed by Fidelity, while ^CASHX (US Money Market Index) is an index. Over the past 5 years, FLXSX returned 6.27%/yr vs 3.51%/yr for ^CASHX. At a correlation of -0.01, they often move in opposite directions.
Performance
FLXSX vs. ^CASHX - Performance Comparison
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Returns By Period
In the year-to-date period, FLXSX achieves a 17.21% return, which is significantly higher than ^CASHX's 1.51% return.
FLXSX
- 1D
- 0.33%
- 1M
- 3.96%
- YTD
- 17.21%
- 6M
- 16.56%
- 1Y
- 38.39%
- 3Y*
- 17.93%
- 5Y*
- 6.27%
- 10Y*
- —
^CASHX
- 1D
- 0.01%
- 1M
- 0.28%
- YTD
- 1.51%
- 6M
- 1.79%
- 1Y
- 3.91%
- 3Y*
- 4.64%
- 5Y*
- 3.51%
- 10Y*
- 2.31%
FLXSX vs. ^CASHX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FLXSX Fidelity Flex Small Cap Index Fund | 17.21% | 12.02% | 11.67% | 17.11% | -20.29% | 14.84% | 20.06% | 25.69% | -11.13% | 14.28% |
^CASHX US Money Market Index | 1.51% | 4.21% | 5.16% | 5.03% | 1.68% | 0.08% | 0.37% | 2.16% | 1.83% | 0.88% |
Correlation
The correlation between FLXSX and ^CASHX is 0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.02 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Mar 10, 2017 | -0.01 |
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Return for Risk
FLXSX vs. ^CASHX — Risk / Return Rank
FLXSX
^CASHX
FLXSX vs. ^CASHX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Flex Small Cap Index Fund (FLXSX) and US Money Market Index (^CASHX). 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.
| FLXSX | ^CASHX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -255.81 | ||
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.34 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 3.35 | — | — |
| Martin ratioReturn relative to average drawdown | 11.73 | — | — |
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
| FLXSX | ^CASHX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.08 | 257.89 | -255.81 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.28 | 36.51 | -36.23 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 23.97 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.42 | 25.99 | -25.57 |
Drawdowns
FLXSX vs. ^CASHX - Drawdown Comparison
The maximum FLXSX drawdown since its inception was -41.72%, which is greater than ^CASHX's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for FLXSX and ^CASHX.
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Drawdown Indicators
| FLXSX | ^CASHX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.72% | 0.00% | -41.72% |
Max Drawdown (1Y)Largest decline over 1 year | -12.25% | 0.00% | -12.25% |
Max Drawdown (3Y)Largest decline over 3 years | -27.48% | 0.00% | -27.48% |
Max Drawdown (5Y)Largest decline over 5 years | -31.88% | 0.00% | -31.88% |
Max Drawdown (10Y)Largest decline over 10 years | — | 0.00% | — |
Current DrawdownCurrent decline from peak | -0.19% | 0.00% | -0.19% |
Average DrawdownAverage peak-to-trough decline | -10.44% | 0.00% | -10.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.48% | 0.00% | +3.48% |
Volatility
FLXSX vs. ^CASHX - Volatility Comparison
Fidelity Flex Small Cap Index Fund (FLXSX) has a higher volatility of 5.03% compared to US Money Market Index (^CASHX) at 0.00%. This indicates that FLXSX's price experiences larger fluctuations and is considered to be riskier than ^CASHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FLXSX | ^CASHX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.03% | 0.00% | +5.03% |
Volatility (6M)Calculated over the trailing 6-month period | 14.19% | 0.00% | +14.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.72% | 0.01% | +19.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.66% | 0.08% | +22.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.00% | 0.08% | +23.92% |
Frequently Asked Questions
FLXSX and ^CASHX have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FLXSX has higher volatility (5.03%) compared to ^CASHX (0.00%). In terms of maximum drawdown, FLXSX dropped -41.72% vs ^CASHX's 0.00%.
^CASHX currently has the higher Sharpe Ratio (257.89 vs 2.08), 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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