FMDGX vs. VOT
FMDGX (Fidelity Mid Cap Growth Index Fund) and VOT (Vanguard Mid-Cap Growth ETF) are both Mid Cap Growth Equities funds - FMDGX tracks the Russell Midcap Growth Index while VOT tracks the CRSP US Mid Cap Growth Index. Both are passively managed. Over the past 5 years, FMDGX returned 4.43%/yr vs 4.89%/yr for VOT. Their 0.98 correlation means they have historically moved very closely together. Both charge a 0.05% expense ratio.
Performance
FMDGX vs. VOT - 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 VOT's 6.22% 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%
VOT
- 1D
- 0.21%
- 1M
- -1.91%
- 6M
- 7.03%
- YTD
- 6.22%
- 1Y
- 4.08%
- 3Y*
- 12.46%
- 5Y*
- 4.89%
- 10Y*
- 11.66%
- ALL TIME*
- 9.96%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $53.27M | $59.32M | $61.74M |
FMDGX vs. VOT - 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% |
VOT Vanguard Mid-Cap Growth ETF | 6.22% | 10.72% | 16.38% | 23.10% | -28.87% | 20.50% | 34.50% | 4.47% |
Correlation
The correlation between FMDGX and VOT is 0.95 - 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. | 0.95 |
Correlation (3Y) Balances recent behavior with more history. | 0.96 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.97 |
Correlation (All Time) Calculated using the full available price history since Jul 17, 2019 | 0.98 |
The correlation between FMDGX and VOT has been stable across timeframes, ranging from 0.95 to 0.98 - a consistent structural relationship.
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Return for Risk
FMDGX vs. VOT — Risk / Return Rank
FMDGX
VOT
FMDGX vs. VOT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Mid Cap Growth Index Fund (FMDGX) and Vanguard Mid-Cap Growth ETF (VOT). 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 | VOT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.30 | ||
| Sortino ratioReturn per unit of downside risk | -0.42 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.03 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | -0.21 | 0.14 | -0.34 |
| Martin ratioReturn relative to average drawdown | -0.57 | 0.40 | -0.97 |
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Drawdowns
FMDGX vs. VOT - Drawdown Comparison
The maximum FMDGX drawdown since its inception was -38.59%, smaller than the maximum VOT drawdown of -60.16%. Use the drawdown chart below to compare losses from any high point for FMDGX and VOT.
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Drawdown Indicators
| FMDGX | VOT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.59% | -60.16% | +21.57% |
Max Drawdown (1Y)Largest decline over 1 year | -14.75% | -15.96% | +1.21% |
Max Drawdown (3Y)Largest decline over 3 years | -25.30% | -21.77% | -3.53% |
Max Drawdown (5Y)Largest decline over 5 years | -38.59% | -37.19% | -1.40% |
Max Drawdown (10Y)Largest decline over 10 years | — | -37.19% | — |
Current DrawdownCurrent decline from peak | -6.20% | -3.52% | -2.68% |
Average DrawdownAverage peak-to-trough decline | -11.03% | -9.90% | -1.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.29% | 5.42% | -0.13% |
Volatility
FMDGX vs. VOT - Volatility Comparison
Fidelity Mid Cap Growth Index Fund (FMDGX) has a higher volatility of 5.15% compared to Vanguard Mid-Cap Growth ETF (VOT) at 4.19%. This indicates that FMDGX's price experiences larger fluctuations and is considered to be riskier than VOT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FMDGX | VOT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.15% | 4.19% | +0.96% |
Volatility (6M)Calculated over the trailing 6-month period | 14.00% | 13.89% | +0.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.61% | 17.20% | +0.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.54% | 21.56% | +0.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.23% | 21.02% | +3.21% |
FMDGX vs. VOT - Expense Ratio Comparison
Both FMDGX and VOT have an expense ratio of 0.05%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
FMDGX vs. VOT - Dividend Comparison
FMDGX's dividend yield for the trailing twelve months is around 1.84%, more than VOT's 0.62% 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% |
VOT Vanguard Mid-Cap Growth ETF | 0.62% | 0.64% | 0.67% | 0.71% | 0.78% | 0.34% | 0.56% | 0.78% | 0.84% | 0.72% | 0.81% | 0.81% |
Frequently Asked Questions
With a correlation of 0.95, FMDGX and VOT 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.
FMDGX has higher volatility (5.15%) compared to VOT (4.19%). In terms of maximum drawdown, FMDGX dropped -38.59% vs VOT's -60.16%.
VOT currently has the higher Sharpe Ratio (0.13 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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