FLXSX vs. IWM
FLXSX (Fidelity Flex Small Cap Index Fund) and IWM (iShares Russell 2000 ETF) are both Small Cap Blend Equities funds. Over the past 5 years, FLXSX returned 7.09%/yr vs 6.99%/yr for IWM. Their 1.00 correlation means they have historically moved very closely together. FLXSX charges 0.00%/yr vs 0.19%/yr for IWM.
Performance
FLXSX vs. IWM - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with FLXSX having a 19.05% return and IWM slightly lower at 18.79%.
FLXSX
- 1D
- 1.67%
- 1M
- -2.07%
- 6M
- 12.75%
- YTD
- 19.05%
- 1Y
- 36.34%
- 3Y*
- 14.95%
- 5Y*
- 7.09%
- 10Y*
- —
- ALL TIME*
- 10.00%
IWM
- 1D
- -0.48%
- 1M
- -2.14%
- 6M
- 12.62%
- YTD
- 18.79%
- 1Y
- 36.90%
- 3Y*
- 15.11%
- 5Y*
- 6.99%
- 10Y*
- 10.70%
- ALL TIME*
- 8.73%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $6.67B | $6.32B | $7.45B |
FLXSX vs. IWM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FLXSX Fidelity Flex Small Cap Index Fund | 19.05% | 12.02% | 11.67% | 17.11% | -20.29% | 14.84% | 20.06% | 25.69% | -11.13% | 14.28% |
IWM iShares Russell 2000 ETF | 18.79% | 12.66% | 11.38% | 16.83% | -20.48% | 14.54% | 20.03% | 25.39% | -11.12% | 13.70% |
Correlation
The correlation between FLXSX and IWM is 0.98 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.98 |
Correlation (3Y) Balances recent behavior with more history. | 0.99 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 1.00 |
Correlation (All Time) Calculated using the full available price history since Mar 9, 2017 | 1.00 |
The correlation between FLXSX and IWM has been stable across timeframes, ranging from 0.98 to 1.00 - a consistent structural relationship.
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Return for Risk
FLXSX vs. IWM — Risk / Return Rank
FLXSX
IWM
FLXSX vs. IWM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Flex Small Cap Index Fund (FLXSX) and iShares Russell 2000 ETF (IWM). 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.
| FLXSX | IWM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.13 | ||
| Sortino ratioReturn per unit of downside risk | -0.17 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.30 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.67 | 3.11 | -0.44 |
| Martin ratioReturn relative to average drawdown | 9.24 | 11.02 | -1.78 |
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Drawdowns
FLXSX vs. IWM - Drawdown Comparison
The maximum FLXSX drawdown since its inception was -41.72%, smaller than the maximum IWM drawdown of -59.05%. Use the drawdown chart below to compare losses from any high point for FLXSX and IWM.
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Drawdown Indicators
| FLXSX | IWM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.72% | -59.05% | +17.33% |
Max Drawdown (1Y)Largest decline over 1 year | -12.25% | -11.03% | -1.22% |
Max Drawdown (3Y)Largest decline over 3 years | -27.48% | -27.50% | +0.02% |
Max Drawdown (5Y)Largest decline over 5 years | -31.88% | -31.91% | +0.03% |
Max Drawdown (10Y)Largest decline over 10 years | — | -41.13% | — |
Current DrawdownCurrent decline from peak | -3.71% | -3.08% | -0.63% |
Average DrawdownAverage peak-to-trough decline | -10.29% | -10.71% | +0.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.53% | 3.11% | +0.42% |
Volatility
FLXSX vs. IWM - Volatility Comparison
Fidelity Flex Small Cap Index Fund (FLXSX) has a higher volatility of 4.44% compared to iShares Russell 2000 ETF (IWM) at 3.82%. This indicates that FLXSX's price experiences larger fluctuations and is considered to be riskier than IWM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FLXSX | IWM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.44% | 3.82% | +0.62% |
Volatility (6M)Calculated over the trailing 6-month period | 14.43% | 14.12% | +0.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.96% | 19.41% | +0.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.63% | 22.48% | +0.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.90% | 23.01% | +0.89% |
FLXSX vs. IWM - Expense Ratio Comparison
FLXSX has a 0.00% expense ratio, which is lower than IWM's 0.19% 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
FLXSX vs. IWM - Dividend Comparison
FLXSX has not paid dividends to shareholders, while IWM's dividend yield for the trailing twelve months is around 0.91%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FLXSX Fidelity Flex Small Cap Index Fund | 0.00% | 0.00% | 1.36% | 1.49% | 1.26% | 2.74% | 1.06% | 2.86% | 2.31% | 0.77% | 0.00% | 0.00% |
IWM iShares Russell 2000 ETF | 0.91% | 1.04% | 1.15% | 1.35% | 1.48% | 0.94% | 1.04% | 1.26% | 1.40% | 1.26% | 1.38% | 1.54% |
Frequently Asked Questions
With a correlation of 0.98, FLXSX and IWM 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.
FLXSX has higher volatility (4.44%) compared to IWM (3.82%). In terms of maximum drawdown, FLXSX dropped -41.72% vs IWM's -59.05%.
IWM currently has the higher Sharpe Ratio (1.77 vs 1.64), 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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