FSMAX vs. VMFGX
Compare and contrast key facts about Fidelity Extended Market Index Fund (FSMAX) and Vanguard S&P Mid-Cap 400 Growth Index Fund Institutional Shares (VMFGX).
FSMAX is managed by Fidelity. VMFGX is managed by Vanguard. It was launched on Mar 28, 2011.
Performance
FSMAX vs. VMFGX - Performance Comparison
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FSMAX vs. VMFGX - 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% |
VMFGX Vanguard S&P Mid-Cap 400 Growth Index Fund Institutional Shares | 3.91% | 7.43% | 15.86% | 17.42% | -18.99% | 18.83% | 22.61% | 26.20% | -10.39% | 19.87% |
Returns By Period
In the year-to-date period, FSMAX achieves a -1.26% return, which is significantly lower than VMFGX's 3.91% return. Both investments have delivered pretty close results over the past 10 years, with FSMAX having a 10.91% annualized return and VMFGX not far behind at 10.58%.
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%
VMFGX
- 1D
- 3.44%
- 1M
- -6.81%
- YTD
- 3.91%
- 6M
- 4.99%
- 1Y
- 20.83%
- 3Y*
- 13.08%
- 5Y*
- 5.78%
- 10Y*
- 10.58%
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FSMAX vs. VMFGX - Expense Ratio Comparison
FSMAX has a 0.04% expense ratio, which is lower than VMFGX'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. VMFGX — Risk / Return Rank
FSMAX
VMFGX
FSMAX vs. VMFGX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Extended Market Index Fund (FSMAX) and Vanguard S&P Mid-Cap 400 Growth Index Fund Institutional Shares (VMFGX). 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 | VMFGX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.91 | 0.99 | -0.08 |
Sortino ratioReturn per unit of downside risk | 1.40 | 1.53 | -0.12 |
Omega ratioGain probability vs. loss probability | 1.19 | 1.21 | -0.02 |
Calmar ratioReturn relative to maximum drawdown | 1.39 | 1.60 | -0.21 |
Martin ratioReturn relative to average drawdown | 5.70 | 6.93 | -1.23 |
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 | VMFGX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.91 | 0.99 | -0.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.18 | 0.28 | -0.10 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.36 | 0.51 | -0.14 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.42 | 0.60 | -0.17 |
Correlation
The correlation between FSMAX and VMFGX is 0.96, 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. VMFGX - Dividend Comparison
FSMAX's dividend yield for the trailing twelve months is around 0.58%, less than VMFGX's 0.68% 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% |
VMFGX Vanguard S&P Mid-Cap 400 Growth Index Fund Institutional Shares | 0.68% | 0.70% | 0.84% | 1.21% | 1.12% | 0.53% | 0.79% | 1.22% | 1.18% | 0.93% | 1.14% | 1.14% |
Drawdowns
FSMAX vs. VMFGX - Drawdown Comparison
The maximum FSMAX drawdown since its inception was -50.55%, which is greater than VMFGX's maximum drawdown of -39.15%. Use the drawdown chart below to compare losses from any high point for FSMAX and VMFGX.
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Drawdown Indicators
| FSMAX | VMFGX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.55% | -39.15% | -11.40% |
Max Drawdown (1Y)Largest decline over 1 year | -14.64% | -13.68% | -0.96% |
Max Drawdown (5Y)Largest decline over 5 years | -36.31% | -29.25% | -7.06% |
Max Drawdown (10Y)Largest decline over 10 years | -50.55% | -39.15% | -11.40% |
Current DrawdownCurrent decline from peak | -7.18% | -6.81% | -0.37% |
Average DrawdownAverage peak-to-trough decline | -12.29% | -5.76% | -6.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.57% | 3.16% | +0.41% |
Volatility
FSMAX vs. VMFGX - Volatility Comparison
The current volatility for Fidelity Extended Market Index Fund (FSMAX) is 7.01%, while Vanguard S&P Mid-Cap 400 Growth Index Fund Institutional Shares (VMFGX) has a volatility of 7.88%. This indicates that FSMAX experiences smaller price fluctuations and is considered to be less risky than VMFGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FSMAX | VMFGX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.01% | 7.88% | -0.87% |
Volatility (6M)Calculated over the trailing 6-month period | 13.51% | 13.16% | +0.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.00% | 22.12% | +0.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.36% | 20.55% | +1.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.21% | 20.99% | +9.22% |