FSMAX vs. FSPSX
Compare and contrast key facts about Fidelity Extended Market Index Fund (FSMAX) and Fidelity International Index Fund (FSPSX).
FSMAX is managed by Fidelity. FSPSX is a passively managed fund by Fidelity that tracks the performance of the MSCI ACWI ex USA IMI Index. It was launched on Nov 5, 1997.
Performance
FSMAX vs. FSPSX - Performance Comparison
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FSMAX vs. FSPSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FSMAX Fidelity Extended Market Index Fund | -1.26% | 11.40% | 16.99% | 25.36% | -26.44% | 12.41% | 32.28% | 28.01% | -9.44% | 18.04% |
FSPSX Fidelity International Index Fund | 0.95% | 31.98% | 3.70% | 18.31% | -14.23% | 11.45% | 8.16% | 22.03% | -13.55% | 25.37% |
Returns By Period
In the year-to-date period, FSMAX achieves a -1.26% return, which is significantly lower than FSPSX's 0.95% return. Over the past 10 years, FSMAX has outperformed FSPSX with an annualized return of 10.91%, while FSPSX has yielded a comparatively lower 8.97% annualized return.
FSMAX
- 1D
- 3.43%
- 1M
- -5.35%
- YTD
- -1.26%
- 6M
- -1.38%
- 1Y
- 20.12%
- 3Y*
- 15.07%
- 5Y*
- 4.00%
- 10Y*
- 10.91%
FSPSX
- 1D
- 2.95%
- 1M
- -6.35%
- YTD
- 0.95%
- 6M
- 5.01%
- 1Y
- 22.97%
- 3Y*
- 14.61%
- 5Y*
- 8.36%
- 10Y*
- 8.97%
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FSMAX vs. FSPSX - Expense Ratio Comparison
FSMAX has a 0.04% expense ratio, which is lower than FSPSX's 0.04% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Return for Risk
FSMAX vs. FSPSX — Risk / Return Rank
FSMAX
FSPSX
FSMAX vs. FSPSX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Extended Market Index Fund (FSMAX) and Fidelity International Index Fund (FSPSX). 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.
| FSMAX | FSPSX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.91 | 1.39 | -0.48 |
Sortino ratioReturn per unit of downside risk | 1.40 | 1.90 | -0.50 |
Omega ratioGain probability vs. loss probability | 1.19 | 1.28 | -0.09 |
Calmar ratioReturn relative to maximum drawdown | 1.39 | 1.94 | -0.55 |
Martin ratioReturn relative to average drawdown | 5.70 | 7.43 | -1.74 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FSMAX | FSPSX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.91 | 1.39 | -0.48 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.18 | 0.53 | -0.35 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.36 | 0.55 | -0.18 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.42 | 0.47 | -0.05 |
Correlation
The correlation between FSMAX and FSPSX is 0.72, 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
FSMAX vs. FSPSX - Dividend Comparison
FSMAX's dividend yield for the trailing twelve months is around 0.58%, less than FSPSX's 3.12% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSMAX Fidelity Extended Market Index Fund | 0.58% | 0.57% | 0.48% | 1.17% | 1.90% | 7.49% | 2.14% | 4.30% | 6.09% | 5.44% | 4.85% | 6.34% |
FSPSX Fidelity International Index Fund | 3.12% | 3.15% | 3.27% | 2.79% | 2.66% | 3.07% | 1.84% | 3.18% | 2.79% | 2.50% | 3.08% | 2.79% |
Drawdowns
FSMAX vs. FSPSX - Drawdown Comparison
The maximum FSMAX drawdown since its inception was -50.55%, which is greater than FSPSX's maximum drawdown of -33.69%. Use the drawdown chart below to compare losses from any high point for FSMAX and FSPSX.
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Drawdown Indicators
| FSMAX | FSPSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.55% | -33.69% | -16.86% |
Max Drawdown (1Y)Largest decline over 1 year | -14.64% | -11.39% | -3.25% |
Max Drawdown (5Y)Largest decline over 5 years | -36.31% | -29.41% | -6.90% |
Max Drawdown (10Y)Largest decline over 10 years | -50.55% | -33.69% | -16.86% |
Current DrawdownCurrent decline from peak | -7.18% | -8.22% | +1.04% |
Average DrawdownAverage peak-to-trough decline | -12.29% | -6.60% | -5.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.57% | 2.97% | +0.60% |
Volatility
FSMAX vs. FSPSX - Volatility Comparison
The current volatility for Fidelity Extended Market Index Fund (FSMAX) is 7.01%, while Fidelity International Index Fund (FSPSX) has a volatility of 7.65%. This indicates that FSMAX experiences smaller price fluctuations and is considered to be less risky than FSPSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FSMAX | FSPSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.01% | 7.65% | -0.64% |
Volatility (6M)Calculated over the trailing 6-month period | 13.51% | 11.01% | +2.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.00% | 17.00% | +6.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.36% | 15.82% | +6.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.21% | 16.49% | +13.72% |