FSMAX vs. VMGMX
Compare and contrast key facts about Fidelity Extended Market Index Fund (FSMAX) and Vanguard Mid-Cap Growth Index Fund Admiral Shares (VMGMX).
FSMAX is managed by Fidelity. VMGMX is managed by Vanguard. It was launched on Sep 27, 2011.
Performance
FSMAX vs. VMGMX - Performance Comparison
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FSMAX vs. VMGMX - 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% |
VMGMX Vanguard Mid-Cap Growth Index Fund Admiral Shares | -7.61% | 10.69% | 15.65% | 23.93% | -28.84% | 20.48% | 34.45% | 33.85% | -5.61% | 21.83% |
Returns By Period
In the year-to-date period, FSMAX achieves a -1.26% return, which is significantly higher than VMGMX's -7.61% return. Both investments have delivered pretty close results over the past 10 years, with FSMAX having a 10.91% annualized return and VMGMX not far behind at 10.62%.
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%
VMGMX
- 1D
- 3.15%
- 1M
- -7.31%
- YTD
- -7.61%
- 6M
- -12.10%
- 1Y
- 5.25%
- 3Y*
- 10.47%
- 5Y*
- 4.04%
- 10Y*
- 10.62%
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FSMAX vs. VMGMX - Expense Ratio Comparison
FSMAX has a 0.04% expense ratio, which is lower than VMGMX's 0.07% 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. VMGMX — Risk / Return Rank
FSMAX
VMGMX
FSMAX vs. VMGMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Extended Market Index Fund (FSMAX) and Vanguard Mid-Cap Growth Index Fund Admiral Shares (VMGMX). 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 | VMGMX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.91 | 0.28 | +0.63 |
Sortino ratioReturn per unit of downside risk | 1.40 | 0.55 | +0.86 |
Omega ratioGain probability vs. loss probability | 1.19 | 1.07 | +0.12 |
Calmar ratioReturn relative to maximum drawdown | 1.39 | 0.39 | +1.00 |
Martin ratioReturn relative to average drawdown | 5.70 | 1.21 | +4.49 |
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 | VMGMX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.91 | 0.28 | +0.63 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.18 | 0.19 | -0.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.36 | 0.51 | -0.15 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.42 | 0.59 | -0.17 |
Correlation
The correlation between FSMAX and VMGMX is 0.93, 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. VMGMX - Dividend Comparison
FSMAX's dividend yield for the trailing twelve months is around 0.58%, less than VMGMX's 0.71% 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% |
VMGMX Vanguard Mid-Cap Growth Index Fund Admiral Shares | 0.71% | 0.64% | 0.67% | 0.71% | 0.78% | 0.34% | 0.56% | 0.78% | 0.84% | 0.72% | 0.81% | 0.82% |
Drawdowns
FSMAX vs. VMGMX - Drawdown Comparison
The maximum FSMAX drawdown since its inception was -50.55%, which is greater than VMGMX's maximum drawdown of -37.17%. Use the drawdown chart below to compare losses from any high point for FSMAX and VMGMX.
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Drawdown Indicators
| FSMAX | VMGMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.55% | -37.17% | -13.38% |
Max Drawdown (1Y)Largest decline over 1 year | -14.64% | -15.95% | +1.31% |
Max Drawdown (5Y)Largest decline over 5 years | -36.31% | -37.17% | +0.86% |
Max Drawdown (10Y)Largest decline over 10 years | -50.55% | -37.17% | -13.38% |
Current DrawdownCurrent decline from peak | -7.18% | -13.31% | +6.13% |
Average DrawdownAverage peak-to-trough decline | -12.29% | -7.05% | -5.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.57% | 5.11% | -1.54% |
Volatility
FSMAX vs. VMGMX - Volatility Comparison
Fidelity Extended Market Index Fund (FSMAX) has a higher volatility of 7.01% compared to Vanguard Mid-Cap Growth Index Fund Admiral Shares (VMGMX) at 6.47%. This indicates that FSMAX's price experiences larger fluctuations and is considered to be riskier than VMGMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FSMAX | VMGMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.01% | 6.47% | +0.54% |
Volatility (6M)Calculated over the trailing 6-month period | 13.51% | 12.40% | +1.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.00% | 21.07% | +1.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.36% | 21.39% | +0.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 30.21% | 20.93% | +9.28% |