FSMAX vs. VFWSX
Compare and contrast key facts about Fidelity Extended Market Index Fund (FSMAX) and Vanguard FTSE All-World ex-US Index Fund Institutional Shares (VFWSX).
FSMAX is managed by Fidelity. VFWSX is managed by Vanguard. It was launched on Apr 30, 2007.
Performance
FSMAX vs. VFWSX - Performance Comparison
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FSMAX vs. VFWSX - 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% |
VFWSX Vanguard FTSE All-World ex-US Index Fund Institutional Shares | 1.79% | 32.38% | 5.45% | 15.59% | -15.48% | 8.11% | 11.37% | 21.58% | -13.97% | 27.24% |
Returns By Period
In the year-to-date period, FSMAX achieves a -1.26% return, which is significantly lower than VFWSX's 1.79% return. Over the past 10 years, FSMAX has outperformed VFWSX with an annualized return of 10.91%, while VFWSX 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%
VFWSX
- 1D
- 2.86%
- 1M
- -7.15%
- YTD
- 1.79%
- 6M
- 5.94%
- 1Y
- 26.81%
- 3Y*
- 15.46%
- 5Y*
- 7.38%
- 10Y*
- 8.97%
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FSMAX vs. VFWSX - Expense Ratio Comparison
FSMAX has a 0.04% expense ratio, which is lower than VFWSX's 0.08% 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. VFWSX — Risk / Return Rank
FSMAX
VFWSX
FSMAX vs. VFWSX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Extended Market Index Fund (FSMAX) and Vanguard FTSE All-World ex-US Index Fund Institutional Shares (VFWSX). 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 | VFWSX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.91 | 1.71 | -0.80 |
Sortino ratioReturn per unit of downside risk | 1.40 | 2.28 | -0.87 |
Omega ratioGain probability vs. loss probability | 1.19 | 1.34 | -0.15 |
Calmar ratioReturn relative to maximum drawdown | 1.39 | 2.31 | -0.92 |
Martin ratioReturn relative to average drawdown | 5.70 | 9.04 | -3.34 |
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 | VFWSX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.91 | 1.71 | -0.80 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.18 | 0.50 | -0.32 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.36 | 0.56 | -0.20 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.42 | 0.24 | +0.18 |
Correlation
The correlation between FSMAX and VFWSX is 0.76, 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. VFWSX - Dividend Comparison
FSMAX's dividend yield for the trailing twelve months is around 0.58%, less than VFWSX's 2.92% 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% |
VFWSX Vanguard FTSE All-World ex-US Index Fund Institutional Shares | 2.92% | 3.08% | 3.23% | 3.31% | 3.10% | 3.06% | 1.99% | 3.10% | 3.28% | 2.67% | 2.97% | 2.97% |
Drawdowns
FSMAX vs. VFWSX - Drawdown Comparison
The maximum FSMAX drawdown since its inception was -50.55%, smaller than the maximum VFWSX drawdown of -61.60%. Use the drawdown chart below to compare losses from any high point for FSMAX and VFWSX.
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Drawdown Indicators
| FSMAX | VFWSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.55% | -61.60% | +11.05% |
Max Drawdown (1Y)Largest decline over 1 year | -14.64% | -11.34% | -3.30% |
Max Drawdown (5Y)Largest decline over 5 years | -36.31% | -29.37% | -6.94% |
Max Drawdown (10Y)Largest decline over 10 years | -50.55% | -34.87% | -15.68% |
Current DrawdownCurrent decline from peak | -7.18% | -8.80% | +1.62% |
Average DrawdownAverage peak-to-trough decline | -12.29% | -13.35% | +1.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.57% | 2.91% | +0.66% |
Volatility
FSMAX vs. VFWSX - Volatility Comparison
The current volatility for Fidelity Extended Market Index Fund (FSMAX) is 7.01%, while Vanguard FTSE All-World ex-US Index Fund Institutional Shares (VFWSX) has a volatility of 7.62%. This indicates that FSMAX experiences smaller price fluctuations and is considered to be less risky than VFWSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FSMAX | VFWSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.01% | 7.62% | -0.61% |
Volatility (6M)Calculated over the trailing 6-month period | 13.51% | 10.98% | +2.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.00% | 15.99% | +7.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.36% | 14.99% | +7.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.21% | 16.00% | +14.21% |