FMDGX vs. LSHAX
FMDGX (Fidelity Mid Cap Growth Index Fund) and LSHAX (Kinetics Spin-Off and Corporate Restructuring Fund) are both Mid Cap Growth Equities funds. Over the past 5 years, FMDGX returned 4.37%/yr vs 14.86%/yr for LSHAX. Their 0.47 correlation means their historical movements had little consistent relationship. FMDGX charges 0.05%/yr vs 1.68%/yr for LSHAX.
Performance
FMDGX vs. LSHAX - Performance Comparison
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Returns By Period
In the year-to-date period, FMDGX achieves a 0.31% return, which is significantly lower than LSHAX's 34.57% return.
FMDGX
- 1D
- -0.28%
- 1M
- -4.14%
- 6M
- 0.83%
- YTD
- 0.31%
- 1Y
- -1.05%
- 3Y*
- 12.08%
- 5Y*
- 4.37%
- 10Y*
- —
- ALL TIME*
- 9.95%
LSHAX
- 1D
- 1.56%
- 1M
- -0.67%
- 6M
- 17.19%
- YTD
- 34.57%
- 1Y
- 26.21%
- 3Y*
- 26.69%
- 5Y*
- 14.86%
- 10Y*
- 17.66%
- ALL TIME*
- 8.54%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
FMDGX vs. LSHAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
FMDGX Fidelity Mid Cap Growth Index Fund | 0.31% | 8.60% | 22.03% | 25.79% | -26.67% | 12.67% | 34.84% | 4.63% |
LSHAX Kinetics Spin-Off and Corporate Restructuring Fund | 34.57% | -19.53% | 82.16% | -19.74% | 39.45% | 42.75% | 5.23% | 2.94% |
Correlation
The correlation between FMDGX and LSHAX is 0.25, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.25 |
Correlation (3Y) Balances recent behavior with more history. | 0.38 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.42 |
Correlation (All Time) Calculated using the full available price history since Jul 17, 2019 | 0.47 |
Over the past year, the correlation between FMDGX and LSHAX has dropped to 0.25 - well below their long-term average of 0.47, suggesting their price drivers have been diverging.
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Return for Risk
FMDGX vs. LSHAX — Risk / Return Rank
FMDGX
LSHAX
FMDGX vs. LSHAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Mid Cap Growth Index Fund (FMDGX) and Kinetics Spin-Off and Corporate Restructuring Fund (LSHAX). 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.
| FMDGX | LSHAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.73 | ||
| Sortino ratioReturn per unit of downside risk | -1.13 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.14 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | -0.18 | 0.79 | -0.97 |
| Martin ratioReturn relative to average drawdown | -0.51 | 1.73 | -2.24 |
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Drawdowns
FMDGX vs. LSHAX - Drawdown Comparison
The maximum FMDGX drawdown since its inception was -38.59%, smaller than the maximum LSHAX drawdown of -69.03%. Use the drawdown chart below to compare losses from any high point for FMDGX and LSHAX.
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Drawdown Indicators
| FMDGX | LSHAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.59% | -69.03% | +30.44% |
Max Drawdown (1Y)Largest decline over 1 year | -14.75% | -28.39% | +13.64% |
Max Drawdown (3Y)Largest decline over 3 years | -25.30% | -45.79% | +20.49% |
Max Drawdown (5Y)Largest decline over 5 years | -38.59% | -45.79% | +7.20% |
Max Drawdown (10Y)Largest decline over 10 years | — | -50.78% | — |
Current DrawdownCurrent decline from peak | -6.46% | -24.32% | +17.86% |
Average DrawdownAverage peak-to-trough decline | -11.02% | -21.96% | +10.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.30% | 12.96% | -7.66% |
Volatility
FMDGX vs. LSHAX - Volatility Comparison
The current volatility for Fidelity Mid Cap Growth Index Fund (FMDGX) is 5.09%, while Kinetics Spin-Off and Corporate Restructuring Fund (LSHAX) has a volatility of 7.54%. This indicates that FMDGX experiences smaller price fluctuations and is considered to be less risky than LSHAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FMDGX | LSHAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.09% | 7.54% | -2.45% |
Volatility (6M)Calculated over the trailing 6-month period | 13.99% | 30.08% | -16.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.60% | 38.98% | -21.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.53% | 34.58% | -12.05% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.22% | 30.98% | -6.76% |
FMDGX vs. LSHAX - Expense Ratio Comparison
FMDGX has a 0.05% expense ratio, which is lower than LSHAX's 1.68% expense ratio.
Dividends
FMDGX vs. LSHAX - Dividend Comparison
FMDGX's dividend yield for the trailing twelve months is around 1.85%, less than LSHAX's 8.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
FMDGX Fidelity Mid Cap Growth Index Fund | 1.85% | 1.85% | 0.47% | 0.63% | 0.81% | 6.43% | 0.36% | 0.29% | 0.00% | 0.00% | 0.00% |
LSHAX Kinetics Spin-Off and Corporate Restructuring Fund | 8.61% | 11.59% | 4.66% | 9.40% | 1.76% | 0.11% | 0.53% | 0.00% | 4.85% | 3.94% | 1.84% |
Frequently Asked Questions
FMDGX and LSHAX have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LSHAX has higher volatility (7.54%) compared to FMDGX (5.09%). In terms of maximum drawdown, FMDGX dropped -38.59% vs LSHAX's -69.03%.
LSHAX currently has the higher Sharpe Ratio (0.58 vs -0.15), 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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