FSMVX vs. TRMCX
FSMVX (Fidelity Mid Cap Value Fund) and TRMCX (T. Rowe Price Mid-Cap Value Fund) are both Mid Cap Value Equities funds. Over the past 10 years, FSMVX returned 11.69%/yr vs 11.75%/yr for TRMCX. Their correlation of 0.95 suggests significant overlap in exposure. FSMVX charges 0.57%/yr vs 0.77%/yr for TRMCX.
Performance
FSMVX vs. TRMCX - Performance Comparison
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Returns By Period
In the year-to-date period, FSMVX achieves a 22.57% return, which is significantly higher than TRMCX's 17.90% return. Both investments have delivered pretty close results over the past 10 years, with FSMVX having a 11.69% annualized return and TRMCX not far ahead at 11.75%.
FSMVX
- 1D
- 1.39%
- 1M
- 5.37%
- YTD
- 22.57%
- 6M
- 21.02%
- 1Y
- 40.60%
- 3Y*
- 22.09%
- 5Y*
- 14.34%
- 10Y*
- 11.69%
TRMCX
- 1D
- 1.61%
- 1M
- 2.99%
- YTD
- 17.90%
- 6M
- 16.49%
- 1Y
- 30.44%
- 3Y*
- 17.21%
- 5Y*
- 11.96%
- 10Y*
- 11.75%
FSMVX vs. TRMCX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FSMVX Fidelity Mid Cap Value Fund | 22.57% | 13.06% | 14.53% | 22.59% | -10.64% | 34.00% | 0.95% | 23.57% | -18.91% | 17.06% |
TRMCX T. Rowe Price Mid-Cap Value Fund | 17.90% | 6.16% | 16.21% | 18.99% | -4.16% | 24.51% | 9.84% | 19.59% | -10.66% | 11.59% |
Correlation
The correlation between FSMVX and TRMCX is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.93 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Nov 15, 2001 | 0.95 |
The correlation between FSMVX and TRMCX has been stable across timeframes, ranging from 0.93 to 0.95 - a consistent structural relationship.
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Return for Risk
FSMVX vs. TRMCX — Risk / Return Rank
FSMVX
TRMCX
FSMVX vs. TRMCX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Mid Cap Value Fund (FSMVX) and T. Rowe Price Mid-Cap Value Fund (TRMCX). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| FSMVX | TRMCX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.36 | ||
| Sortino ratioReturn per unit of downside risk | +0.41 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.37 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 4.01 | 3.28 | +0.73 |
| Martin ratioReturn relative to average drawdown | 15.41 | 12.42 | +2.99 |
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Drawdowns
FSMVX vs. TRMCX - Drawdown Comparison
The maximum FSMVX drawdown since its inception was -62.96%, which is greater than TRMCX's maximum drawdown of -55.28%. Use the drawdown chart below to compare losses from any high point for FSMVX and TRMCX.
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Drawdown Indicators
| FSMVX | TRMCX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.96% | -55.28% | -7.68% |
Max Drawdown (1Y)Largest decline over 1 year | -10.30% | -9.41% | -0.89% |
Max Drawdown (3Y)Largest decline over 3 years | -23.70% | -29.60% | +5.90% |
Max Drawdown (5Y)Largest decline over 5 years | -23.70% | -29.60% | +5.90% |
Max Drawdown (10Y)Largest decline over 10 years | -45.11% | -39.41% | -5.70% |
Current DrawdownCurrent decline from peak | -0.27% | 0.00% | -0.27% |
Average DrawdownAverage peak-to-trough decline | -8.93% | -6.63% | -2.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.68% | 2.48% | +0.20% |
Volatility
FSMVX vs. TRMCX - Volatility Comparison
Fidelity Mid Cap Value Fund (FSMVX) has a higher volatility of 5.42% compared to T. Rowe Price Mid-Cap Value Fund (TRMCX) at 4.90%. This indicates that FSMVX's price experiences larger fluctuations and is considered to be riskier than TRMCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FSMVX | TRMCX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.42% | 4.90% | +0.52% |
Volatility (6M)Calculated over the trailing 6-month period | 12.53% | 11.04% | +1.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.67% | 14.57% | +2.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.24% | 19.32% | +0.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.14% | 19.67% | +1.47% |
FSMVX vs. TRMCX - Expense Ratio Comparison
FSMVX has a 0.57% expense ratio, which is lower than TRMCX's 0.77% expense ratio.
Dividends
FSMVX vs. TRMCX - Dividend Comparison
FSMVX's dividend yield for the trailing twelve months is around 6.42%, more than TRMCX's 4.60% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSMVX Fidelity Mid Cap Value Fund | 6.42% | 8.28% | 10.41% | 1.17% | 13.12% | 1.30% | 1.99% | 1.87% | 14.79% | 8.92% | 1.34% | 5.15% |
TRMCX T. Rowe Price Mid-Cap Value Fund | 4.60% | 5.43% | 14.20% | 7.65% | 13.92% | 9.22% | 3.79% | 4.25% | 12.13% | 6.58% | 6.74% | 11.39% |
Frequently Asked Questions
With a correlation of 0.93, FSMVX and TRMCX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
FSMVX has higher volatility (5.42%) compared to TRMCX (4.90%). In terms of maximum drawdown, FSMVX dropped -62.96% vs TRMCX's -55.28%.
FSMVX currently has the higher Sharpe Ratio (2.48 vs 2.12), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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