FMIMX vs. SWMCX

Last updated Apr 2, 2026

Compare and contrast key facts about FMI Common Stock Fund (FMIMX) and Schwab U.S. Mid-Cap Index Fund (SWMCX).

FMIMX is managed by FMI Funds. It was launched on Dec 18, 1981. SWMCX is managed by Charles Schwab. It was launched on Dec 20, 2017.

Performance

FMIMX vs. SWMCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FMI Common Stock Fund (FMIMX) and Schwab U.S. Mid-Cap Index Fund (SWMCX). The values are adjusted to include any dividend payments, if applicable.

FMIMX vs. SWMCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FMIMX FMI Common Stock Fund	0.60%	2.12%	10.38%	24.85%	-5.95%	30.52%	5.79%	24.80%	-8.77%	0.23%
SWMCX Schwab U.S. Mid-Cap Index Fund	1.25%	10.54%	15.28%	17.20%	-17.31%	22.55%	17.03%	30.46%	-9.16%	0.40%

Returns By Period

In the year-to-date period, FMIMX achieves a 0.60% return, which is significantly lower than SWMCX's 1.25% return.

FMIMX

• 1D: 2.22%
• 1M: -9.10%
• YTD: 0.60%
• 6M: -0.97%
• 1Y: 6.09%
• 3Y*: 9.61%
• 5Y*: 8.81%
• 10Y*: 10.45%

SWMCX

• 1D: 2.61%
• 1M: -5.57%
• YTD: 1.25%
• 6M: 1.45%
• 1Y: 15.42%
• 3Y*: 13.27%
• 5Y*: 6.91%
• 10Y*: —

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

FMIMX vs. SWMCX - Expense Ratio Comparison

FMIMX has a 1.01% expense ratio, which is higher than SWMCX's 0.04% expense ratio.

FMIMX

FMI Common Stock Fund

SWMCX

Schwab U.S. Mid-Cap Index Fund

Return for Risk

FMIMX vs. SWMCX — Risk / Return Rank

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

FMIMX

FMIMX Risk / Return Rank: 12
FMIMX Sharpe Ratio Rank: 10
FMIMX Sortino Ratio Rank: 12
FMIMX Omega Ratio Rank: 10
FMIMX Calmar Ratio Rank: 15
FMIMX Martin Ratio Rank: 13

SWMCX

SWMCX Risk / Return Rank: 43
SWMCX Sharpe Ratio Rank: 37
SWMCX Sortino Ratio Rank: 39
SWMCX Omega Ratio Rank: 37
SWMCX Calmar Ratio Rank: 47
SWMCX Martin Ratio Rank: 57

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.

FMIMX vs. SWMCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FMI Common Stock Fund (FMIMX) and Schwab U.S. Mid-Cap Index Fund (SWMCX). 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.

	FMIMX	SWMCX	Difference
Sharpe ratio Return per unit of total volatility	0.30	0.84	-0.53
Sortino ratio Return per unit of downside risk	0.61	1.29	-0.68
Omega ratio Gain probability vs. loss probability	1.08	1.18	-0.11
Calmar ratio Return relative to maximum drawdown	0.48	1.22	-0.74
Martin ratio Return relative to average drawdown	1.29	5.68	-4.39
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FMIMX vs. SWMCX - Sharpe Ratio Comparison

The current FMIMX Sharpe Ratio is 0.30, which is lower than the SWMCX Sharpe Ratio of 0.84. The chart below compares the historical Sharpe Ratios of FMIMX and SWMCX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FMIMX	SWMCX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.30	0.84	-0.53
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.48	0.38	+0.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.55	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.51	0.46	+0.04

Correlation

The correlation between FMIMX and SWMCX is 0.89, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

FMIMX vs. SWMCX - Dividend Comparison

FMIMX's dividend yield for the trailing twelve months is around 13.16%, more than SWMCX's 2.10% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FMIMX FMI Common Stock Fund	13.16%	13.24%	2.01%	2.84%	6.65%	12.44%	0.76%	4.93%	10.17%	11.82%	4.92%	10.77%
SWMCX Schwab U.S. Mid-Cap Index Fund	2.10%	2.13%	2.60%	1.49%	1.59%	2.93%	1.45%	2.44%	1.41%	0.00%	0.00%	0.00%

Drawdowns

FMIMX vs. SWMCX - Drawdown Comparison

The maximum FMIMX drawdown since its inception was -59.09%, which is greater than SWMCX's maximum drawdown of -40.34%. Use the drawdown chart below to compare losses from any high point for FMIMX and SWMCX.

Drawdown Indicators

	FMIMX	SWMCX	Difference
Max Drawdown Largest peak-to-trough decline	-59.09%	-40.34%	-18.75%
Max Drawdown (1Y) Largest decline over 1 year	-13.80%	-13.43%	-0.37%
Max Drawdown (5Y) Largest decline over 5 years	-21.31%	-26.09%	+4.78%
Max Drawdown (10Y) Largest decline over 10 years	-38.07%	—	—
Current Drawdown Current decline from peak	-11.89%	-5.76%	-6.13%
Average Drawdown Average peak-to-trough decline	-10.46%	-6.74%	-3.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.14%	2.89%	+2.25%

Volatility

FMIMX vs. SWMCX - Volatility Comparison

FMI Common Stock Fund (FMIMX) and Schwab U.S. Mid-Cap Index Fund (SWMCX) have volatilities of 5.58% and 5.61%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FMIMX	SWMCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.58%	5.61%	-0.03%
Volatility (6M) Calculated over the trailing 6-month period	12.46%	10.50%	+1.96%
Volatility (1Y) Calculated over the trailing 1-year period	21.02%	19.09%	+1.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.60%	18.27%	+0.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.19%	20.77%	-1.58%