FMCSX vs. FSSMX

Last updated Jun 23, 2026

FMCSX (Fidelity Mid-Cap Stock Fund) and FSSMX (Fidelity Stock Selector Mid Cap Fund) are both Mid Cap Blend Equities funds from Fidelity. Over the past 10 years, FMCSX returned 13.10%/yr vs 11.87%/yr for FSSMX. With a 0.97 correlation, they move nearly in lockstep. FMCSX charges 0.85%/yr vs 0.79%/yr for FSSMX.

Performance

FMCSX vs. FSSMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Mid-Cap Stock Fund (FMCSX) and Fidelity Stock Selector Mid Cap Fund (FSSMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FMCSX achieves a 19.85% return, which is significantly lower than FSSMX's 21.28% return. Over the past 10 years, FMCSX has outperformed FSSMX with an annualized return of 13.10%, while FSSMX has yielded a comparatively lower 11.87% annualized return.

FMCSX

• 1D: 0.72%
• 1M: 4.53%
• YTD: 19.85%
• 6M: 17.25%
• 1Y: 34.40%
• 3Y*: 18.42%
• 5Y*: 11.91%
• 10Y*: 13.10%

FSSMX

• 1D: 1.51%
• 1M: 5.31%
• YTD: 21.28%
• 6M: 9.99%
• 1Y: 24.05%
• 3Y*: 14.89%
• 5Y*: 8.49%
• 10Y*: 11.87%

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

FMCSX vs. FSSMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FMCSX Fidelity Mid-Cap Stock Fund	19.85%	11.80%	14.55%	11.02%	-6.40%	28.64%	11.43%	25.39%	-6.67%	18.03%
FSSMX Fidelity Stock Selector Mid Cap Fund	21.28%	2.35%	12.50%	17.16%	-13.90%	23.25%	13.03%	29.57%	-7.70%	19.54%

Correlation

The correlation between FMCSX and FSSMX is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.97
Correlation (All Time) Calculated using the full available price history since Jun 6, 2012	0.97

The correlation between FMCSX and FSSMX has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.

Return for Risk

FMCSX vs. FSSMX — Risk / Return Rank

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

FMCSX

FMCSX Risk / Return Rank: 71
FMCSX Sharpe Ratio Rank: 63
FMCSX Sortino Ratio Rank: 60
FMCSX Omega Ratio Rank: 55
FMCSX Calmar Ratio Rank: 88
FMCSX Martin Ratio Rank: 88

FSSMX

FSSMX Risk / Return Rank: 31
FSSMX Sharpe Ratio Rank: 24
FSSMX Sortino Ratio Rank: 21
FSSMX Omega Ratio Rank: 27
FSSMX Calmar Ratio Rank: 46
FSSMX Martin Ratio Rank: 38

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.

FMCSX vs. FSSMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Mid-Cap Stock Fund (FMCSX) and Fidelity Stock Selector Mid Cap Fund (FSSMX). 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.

	FMCSX	FSSMX	Difference
Sharpe ratio: Return per unit of total volatility	2.14	1.32	+0.82
Sortino ratio: Return per unit of downside risk	2.97	1.78	+1.19
Omega ratio: Gain probability vs. loss probability	1.37	1.25	+0.12
Calmar ratio: Return relative to maximum drawdown	4.05	2.49	+1.56
Martin ratio: Return relative to average drawdown	15.54	7.95	+7.59

FMCSX vs. FSSMX - Sharpe Ratio Comparison

The current FMCSX Sharpe Ratio is 2.14, which is higher than the FSSMX Sharpe Ratio of 1.32. The chart below compares the historical Sharpe Ratios of FMCSX and FSSMX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FMCSX vs. FSSMX - Drawdown Comparison

The maximum FMCSX drawdown since its inception was -62.19%, which is greater than FSSMX's maximum drawdown of -43.37%. Use the drawdown chart below to compare losses from any high point for FMCSX and FSSMX.

Drawdown Indicators

	FMCSX	FSSMX	Difference
Max Drawdown Largest peak-to-trough decline	-62.19%	-43.37%	-18.82%
Max Drawdown (1Y) Largest decline over 1 year	-8.55%	-9.78%	+1.23%
Max Drawdown (3Y) Largest decline over 3 years	-22.33%	-22.82%	+0.49%
Max Drawdown (5Y) Largest decline over 5 years	-22.33%	-24.00%	+1.67%
Max Drawdown (10Y) Largest decline over 10 years	-40.55%	-43.37%	+2.82%
Current Drawdown Current decline from peak	-0.69%	0.00%	-0.69%
Average Drawdown Average peak-to-trough decline	-9.34%	-5.07%	-4.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.22%	3.05%	-0.83%

Volatility

FMCSX vs. FSSMX - Volatility Comparison

Fidelity Mid-Cap Stock Fund (FMCSX) has a higher volatility of 5.68% compared to Fidelity Stock Selector Mid Cap Fund (FSSMX) at 5.39%. This indicates that FMCSX's price experiences larger fluctuations and is considered to be riskier than FSSMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FMCSX	FSSMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.68%	5.39%	+0.29%
Volatility (6M) Calculated over the trailing 6-month period	12.88%	15.29%	-2.41%
Volatility (1Y) Calculated over the trailing 1-year period	16.19%	18.41%	-2.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.80%	20.38%	-2.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.63%	21.18%	-2.55%

FMCSX vs. FSSMX - Expense Ratio Comparison

FMCSX has a 0.85% expense ratio, which is higher than FSSMX's 0.79% expense ratio.

Dividends

FMCSX vs. FSSMX - Dividend Comparison

FMCSX's dividend yield for the trailing twelve months is around 5.17%, while FSSMX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FMCSX Fidelity Mid-Cap Stock Fund	5.17%	1.83%	8.94%	2.60%	5.44%	12.80%	6.72%	6.63%	18.48%	6.66%	8.25%	14.18%
FSSMX Fidelity Stock Selector Mid Cap Fund	0.00%	0.00%	3.10%	0.78%	9.73%	12.87%	2.31%	4.03%	21.01%	4.12%	0.92%	1.84%

Frequently Asked Questions

Can I hold both FMCSX and FSSMX in my portfolio?

With a correlation of 0.96, FMCSX and FSSMX 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.

Which is riskier, FMCSX or FSSMX?

FMCSX has higher volatility (5.68%) compared to FSSMX (5.39%). In terms of maximum drawdown, FMCSX dropped -62.19% vs FSSMX's -43.37%.

Which has better risk-adjusted returns?

FMCSX currently has the higher Sharpe Ratio (2.14 vs 1.32), 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.