FMDGX vs. PESPX
FMDGX (Fidelity Mid Cap Growth Index Fund) and PESPX (BNY Mellon MidCap Index Fund) are both mutual funds - FMDGX is a Mid Cap Growth Equities fund tracking the Russell Midcap Growth Index, while PESPX is a Mid Cap Blend Equities fund managed by BNY Mellon. Over the past 5 years, FMDGX returned 4.37%/yr vs 7.41%/yr for PESPX. Their correlation of 0.83 means they have usually moved in the same direction. FMDGX charges 0.05%/yr vs 0.50%/yr for PESPX.
Performance
FMDGX vs. PESPX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, FMDGX achieves a 0.31% return, which is significantly lower than PESPX's 14.20% 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%
PESPX
- 1D
- -0.13%
- 1M
- -1.09%
- 6M
- 8.83%
- YTD
- 14.20%
- 1Y
- 22.08%
- 3Y*
- 11.61%
- 5Y*
- 7.41%
- 10Y*
- 10.68%
- ALL TIME*
- 6.79%
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. PESPX - 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% |
PESPX BNY Mellon MidCap Index Fund | 14.20% | 6.90% | 11.88% | 14.75% | -13.67% | 24.34% | 13.30% | 19.22% |
Correlation
The correlation between FMDGX and PESPX is 0.83, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.83 |
Correlation (3Y) Balances recent behavior with more history. | 0.84 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.87 |
Correlation (All Time) Calculated using the full available price history since Jul 17, 2019 | 0.83 |
The correlation between FMDGX and PESPX has been stable across timeframes, ranging from 0.83 to 0.87 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
FMDGX vs. PESPX — Risk / Return Rank
FMDGX
PESPX
FMDGX vs. PESPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Mid Cap Growth Index Fund (FMDGX) and BNY Mellon MidCap Index Fund (PESPX). 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 | PESPX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.46 | ||
| Sortino ratioReturn per unit of downside risk | -2.05 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.23 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | -0.18 | 2.30 | -2.48 |
| Martin ratioReturn relative to average drawdown | -0.51 | 8.32 | -8.83 |
Loading charts...
Drawdowns
FMDGX vs. PESPX - Drawdown Comparison
The maximum FMDGX drawdown since its inception was -38.59%, smaller than the maximum PESPX drawdown of -61.56%. Use the drawdown chart below to compare losses from any high point for FMDGX and PESPX.
Loading charts...
Drawdown Indicators
| FMDGX | PESPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.59% | -61.56% | +22.97% |
Max Drawdown (1Y)Largest decline over 1 year | -14.75% | -8.86% | -5.89% |
Max Drawdown (3Y)Largest decline over 3 years | -25.30% | -25.18% | -0.12% |
Max Drawdown (5Y)Largest decline over 5 years | -38.59% | -25.18% | -13.41% |
Max Drawdown (10Y)Largest decline over 10 years | — | -42.09% | — |
Current DrawdownCurrent decline from peak | -6.46% | -2.38% | -4.08% |
Average DrawdownAverage peak-to-trough decline | -11.02% | -10.30% | -0.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.30% | 2.45% | +2.85% |
Volatility
FMDGX vs. PESPX - Volatility Comparison
Fidelity Mid Cap Growth Index Fund (FMDGX) has a higher volatility of 5.09% compared to BNY Mellon MidCap Index Fund (PESPX) at 3.36%. This indicates that FMDGX's price experiences larger fluctuations and is considered to be riskier than PESPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| FMDGX | PESPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.09% | 3.36% | +1.73% |
Volatility (6M)Calculated over the trailing 6-month period | 13.99% | 11.57% | +2.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.60% | 15.66% | +1.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.53% | 19.59% | +2.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.22% | 21.54% | +2.68% |
FMDGX vs. PESPX - Expense Ratio Comparison
FMDGX has a 0.05% expense ratio, which is lower than PESPX's 0.50% expense ratio.
Dividends
FMDGX vs. PESPX - Dividend Comparison
FMDGX's dividend yield for the trailing twelve months is around 1.85%, less than PESPX's 10.72% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% |
PESPX BNY Mellon MidCap Index Fund | 10.72% | 12.24% | 11.73% | 8.19% | 16.04% | 15.10% | 11.21% | 21.60% | 14.61% | 9.22% | 1.09% | 1.34% |
Frequently Asked Questions
FMDGX and PESPX have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FMDGX has higher volatility (5.09%) compared to PESPX (3.36%). In terms of maximum drawdown, FMDGX dropped -38.59% vs PESPX's -61.56%.
PESPX currently has the higher Sharpe Ratio (1.31 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.
Find the right allocation for FMDGX and PESPX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer