FSMVX vs. SPY
Compare and contrast key facts about Fidelity Mid Cap Value Fund (FSMVX) and State Street SPDR S&P 500 ETF (SPY).
FSMVX is managed by Fidelity. It was launched on Nov 15, 2001. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Performance
FSMVX vs. SPY - Performance Comparison
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FSMVX vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FSMVX Fidelity Mid Cap Value Fund | 0.59% | 13.06% | 14.53% | 22.59% | -10.64% | 34.00% | 0.95% | 23.57% | -18.91% | 17.06% |
SPY State Street SPDR S&P 500 ETF | -4.37% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 18.33% | 31.22% | -4.57% | 21.71% |
Returns By Period
In the year-to-date period, FSMVX achieves a 0.59% return, which is significantly higher than SPY's -4.37% return. Over the past 10 years, FSMVX has underperformed SPY with an annualized return of 9.66%, while SPY has yielded a comparatively higher 13.98% annualized return.
FSMVX
- 1D
- -1.10%
- 1M
- -9.32%
- YTD
- 0.59%
- 6M
- 5.73%
- 1Y
- 19.31%
- 3Y*
- 16.11%
- 5Y*
- 10.25%
- 10Y*
- 9.66%
SPY
- 1D
- 2.91%
- 1M
- -4.94%
- YTD
- -4.37%
- 6M
- -1.82%
- 1Y
- 17.59%
- 3Y*
- 18.19%
- 5Y*
- 11.69%
- 10Y*
- 13.98%
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FSMVX vs. SPY - Expense Ratio Comparison
FSMVX has a 0.57% expense ratio, which is higher than SPY's 0.09% expense ratio.
Return for Risk
FSMVX vs. SPY — Risk / Return Rank
FSMVX
SPY
FSMVX vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Mid Cap Value Fund (FSMVX) and State Street SPDR S&P 500 ETF (SPY). 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.
| FSMVX | SPY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.93 | 0.93 | 0.00 |
Sortino ratioReturn per unit of downside risk | 1.42 | 1.45 | -0.03 |
Omega ratioGain probability vs. loss probability | 1.19 | 1.22 | -0.03 |
Calmar ratioReturn relative to maximum drawdown | 1.20 | 1.53 | -0.33 |
Martin ratioReturn relative to average drawdown | 4.92 | 7.30 | -2.38 |
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
| FSMVX | SPY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.93 | 0.93 | 0.00 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.51 | 0.69 | -0.18 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.46 | 0.78 | -0.32 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.44 | 0.56 | -0.12 |
Correlation
The correlation between FSMVX and SPY is 0.88, 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
FSMVX vs. SPY - Dividend Comparison
FSMVX's dividend yield for the trailing twelve months is around 7.82%, more than SPY's 1.14% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSMVX Fidelity Mid Cap Value Fund | 7.82% | 8.28% | 10.41% | 1.17% | 13.12% | 1.30% | 1.99% | 1.87% | 14.79% | 8.92% | 1.34% | 5.15% |
SPY State Street SPDR S&P 500 ETF | 1.14% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
Drawdowns
FSMVX vs. SPY - Drawdown Comparison
The maximum FSMVX drawdown since its inception was -62.96%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for FSMVX and SPY.
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Drawdown Indicators
| FSMVX | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.96% | -55.19% | -7.77% |
Max Drawdown (1Y)Largest decline over 1 year | -14.74% | -12.05% | -2.69% |
Max Drawdown (5Y)Largest decline over 5 years | -23.70% | -24.50% | +0.80% |
Max Drawdown (10Y)Largest decline over 10 years | -45.11% | -33.72% | -11.39% |
Current DrawdownCurrent decline from peak | -10.30% | -6.24% | -4.06% |
Average DrawdownAverage peak-to-trough decline | -9.00% | -9.09% | +0.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.59% | 2.52% | +1.07% |
Volatility
FSMVX vs. SPY - Volatility Comparison
Fidelity Mid Cap Value Fund (FSMVX) has a higher volatility of 5.64% compared to State Street SPDR S&P 500 ETF (SPY) at 5.31%. This indicates that FSMVX's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FSMVX | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.64% | 5.31% | +0.33% |
Volatility (6M)Calculated over the trailing 6-month period | 11.77% | 9.47% | +2.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.47% | 19.05% | +2.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.10% | 17.06% | +3.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.02% | 17.92% | +3.10% |