FMDGX vs. MGRDX
FMDGX (Fidelity Mid Cap Growth Index Fund) and MGRDX (MFS International Growth Fund R6) are both mutual funds - FMDGX is a Mid Cap Growth Equities fund tracking the Russell Midcap Growth Index, while MGRDX is a Foreign Large Cap Equities fund actively managed by MFS. FMDGX is passively managed, while MGRDX is actively managed. Over the past 5 years, FMDGX returned 4.43%/yr vs 6.38%/yr for MGRDX. Their 0.69 correlation means they have sometimes moved together and sometimes differently. FMDGX charges 0.05%/yr vs 0.72%/yr for MGRDX.
Performance
FMDGX vs. MGRDX - Performance Comparison
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Returns By Period
In the year-to-date period, FMDGX achieves a 0.60% return, which is significantly lower than MGRDX's 3.88% return.
FMDGX
- 1D
- 2.29%
- 1M
- -3.87%
- 6M
- 1.50%
- YTD
- 0.60%
- 1Y
- -0.77%
- 3Y*
- 11.99%
- 5Y*
- 4.43%
- 10Y*
- —
- ALL TIME*
- 10.00%
MGRDX
- 1D
- 2.05%
- 1M
- 0.51%
- 6M
- 0.53%
- YTD
- 3.88%
- 1Y
- 11.35%
- 3Y*
- 11.10%
- 5Y*
- 6.38%
- 10Y*
- 9.75%
- ALL TIME*
- 5.51%
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. MGRDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
FMDGX Fidelity Mid Cap Growth Index Fund | 0.60% | 8.60% | 22.03% | 25.79% | -26.67% | 12.67% | 34.84% | 4.63% |
MGRDX MFS International Growth Fund R6 | 3.88% | 21.18% | 9.22% | 14.99% | -15.00% | 9.61% | 15.82% | 7.70% |
Correlation
The correlation between FMDGX and MGRDX is 0.66, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.66 |
Correlation (3Y) Balances recent behavior with more history. | 0.65 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.69 |
Correlation (All Time) Calculated using the full available price history since Jul 17, 2019 | 0.69 |
The correlation between FMDGX and MGRDX has been stable across timeframes, ranging from 0.65 to 0.69 - a consistent structural relationship.
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Return for Risk
FMDGX vs. MGRDX — Risk / Return Rank
FMDGX
MGRDX
FMDGX vs. MGRDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Mid Cap Growth Index Fund (FMDGX) and MFS International Growth Fund R6 (MGRDX). 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 | MGRDX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.84 | ||
| Sortino ratioReturn per unit of downside risk | -1.13 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.12 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | -0.21 | 0.76 | -0.97 |
| Martin ratioReturn relative to average drawdown | -0.57 | 2.31 | -2.88 |
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Drawdowns
FMDGX vs. MGRDX - Drawdown Comparison
The maximum FMDGX drawdown since its inception was -38.59%, smaller than the maximum MGRDX drawdown of -60.75%. Use the drawdown chart below to compare losses from any high point for FMDGX and MGRDX.
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Drawdown Indicators
| FMDGX | MGRDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.59% | -60.75% | +22.16% |
Max Drawdown (1Y)Largest decline over 1 year | -14.75% | -12.39% | -2.36% |
Max Drawdown (3Y)Largest decline over 3 years | -25.30% | -13.25% | -12.05% |
Max Drawdown (5Y)Largest decline over 5 years | -38.59% | -30.60% | -7.99% |
Max Drawdown (10Y)Largest decline over 10 years | — | -30.60% | — |
Current DrawdownCurrent decline from peak | -6.20% | -2.99% | -3.21% |
Average DrawdownAverage peak-to-trough decline | -11.03% | -12.37% | +1.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.29% | 4.08% | +1.21% |
Volatility
FMDGX vs. MGRDX - Volatility Comparison
Fidelity Mid Cap Growth Index Fund (FMDGX) has a higher volatility of 5.15% compared to MFS International Growth Fund R6 (MGRDX) at 3.93%. This indicates that FMDGX's price experiences larger fluctuations and is considered to be riskier than MGRDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FMDGX | MGRDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.15% | 3.93% | +1.22% |
Volatility (6M)Calculated over the trailing 6-month period | 14.00% | 12.14% | +1.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.61% | 14.19% | +3.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.54% | 15.81% | +6.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.23% | 15.61% | +8.62% |
FMDGX vs. MGRDX - Expense Ratio Comparison
FMDGX has a 0.05% expense ratio, which is lower than MGRDX's 0.72% expense ratio.
Dividends
FMDGX vs. MGRDX - Dividend Comparison
FMDGX's dividend yield for the trailing twelve months is around 1.84%, less than MGRDX's 5.42% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FMDGX Fidelity Mid Cap Growth Index Fund | 1.84% | 1.85% | 0.47% | 0.63% | 0.81% | 6.43% | 0.36% | 0.29% | 0.00% | 0.00% | 0.00% | 0.00% |
MGRDX MFS International Growth Fund R6 | 5.42% | 5.63% | 6.35% | 2.90% | 3.06% | 6.97% | 0.80% | 1.51% | 4.20% | 2.61% | 1.45% | 1.20% |
Frequently Asked Questions
FMDGX and MGRDX have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FMDGX has higher volatility (5.15%) compared to MGRDX (3.93%). In terms of maximum drawdown, FMDGX dropped -38.59% vs MGRDX's -60.75%.
MGRDX currently has the higher Sharpe Ratio (0.67 vs -0.17), 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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