FSSMX vs. BIGTX

Last updated Aug 1, 2026

FSSMX (Fidelity Stock Selector Mid Cap Fund) and BIGTX (The Texas Fund) are both Mid Cap Blend Equities funds. Over the past 10 years, FSSMX returned 11.29%/yr vs 9.98%/yr for BIGTX. Their correlation of 0.89 means they have usually moved in the same direction. FSSMX charges 0.79%/yr vs 1.67%/yr for BIGTX.

Performance

FSSMX vs. BIGTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Stock Selector Mid Cap Fund (FSSMX) and The Texas Fund (BIGTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with FSSMX having a 18.67% return and BIGTX slightly lower at 17.83%. Over the past 10 years, FSSMX has outperformed BIGTX with an annualized return of 11.29%, while BIGTX has yielded a comparatively lower 9.98% annualized return.

FSSMX

• 1D: 1.24%
• 1M: -2.13%
• 6M: 13.57%
• YTD: 18.67%
• 1Y: 18.19%
• 3Y*: 11.94%
• 5Y*: 7.78%
• 10Y*: 11.29%
• ALL TIME*: 11.49%

BIGTX

• 1D: 2.35%
• 1M: -1.53%
• 6M: 9.80%
• YTD: 17.83%
• 1Y: 22.58%
• 3Y*: 14.23%
• 5Y*: 9.15%
• 10Y*: 9.98%
• ALL TIME*: 6.31%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BIGTX The Texas Fund	$0.00	$0.00	$0.00
FSSMX Fidelity Stock Selector Mid Cap Fund	$0.00	$0.00	$0.00

FSSMX vs. BIGTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FSSMX Fidelity Stock Selector Mid Cap Fund	18.67%	2.35%	12.50%	17.16%	-13.90%	23.25%	13.03%	29.57%	-7.70%	19.54%
BIGTX The Texas Fund	17.83%	5.98%	15.76%	11.32%	-6.93%	23.90%	13.11%	9.61%	-11.44%	11.58%

Correlation

The correlation between FSSMX and BIGTX is 0.81, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.81
Correlation (3Y) Balances recent behavior with more history.	0.87
Correlation (5Y) Shows whether the relationship held over a longer period.	0.88
Correlation (10Y) Provides a long-term view across more market conditions.	0.89
Correlation (All Time) Calculated using the full available price history since Jan 2, 2014	0.89

The correlation between FSSMX and BIGTX has been stable across timeframes, ranging from 0.81 to 0.89 - a consistent structural relationship.

Return for Risk

FSSMX vs. BIGTX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FSSMX

FSSMX Risk / Return Rank: 29
FSSMX Sharpe Ratio Rank: 23
FSSMX Sortino Ratio Rank: 22
FSSMX Omega Ratio Rank: 26
FSSMX Calmar Ratio Rank: 37
FSSMX Martin Ratio Rank: 34

BIGTX

BIGTX Risk / Return Rank: 48
BIGTX Sharpe Ratio Rank: 46
BIGTX Sortino Ratio Rank: 45
BIGTX Omega Ratio Rank: 39
BIGTX Calmar Ratio Rank: 64
BIGTX Martin Ratio Rank: 48

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FSSMX vs. BIGTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Stock Selector Mid Cap Fund (FSSMX) and The Texas Fund (BIGTX). 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.

	FSSMX	BIGTX	Difference
Sharpe ratio: Return per unit of total volatility	0.81	1.27	-0.46
Sortino ratio: Return per unit of downside risk	1.17	1.82	-0.65
Omega ratio: Gain probability vs. loss probability	1.16	1.22	-0.05
Calmar ratio: Return relative to maximum drawdown	1.54	2.13	-0.59
Martin ratio: Return relative to average drawdown	4.89	6.69	-1.81

FSSMX vs. BIGTX - Sharpe Ratio Comparison

The current FSSMX Sharpe Ratio is 0.81, which is lower than the BIGTX Sharpe Ratio of 1.27. The chart below compares the historical Sharpe Ratios of FSSMX and BIGTX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FSSMX vs. BIGTX - Drawdown Comparison

The maximum FSSMX drawdown since its inception was -43.37%, smaller than the maximum BIGTX drawdown of -77.89%. Use the drawdown chart below to compare losses from any high point for FSSMX and BIGTX.

Drawdown Indicators

	FSSMX	BIGTX	Difference
Max Drawdown Largest peak-to-trough decline	-43.37%	-77.89%	+34.52%
Max Drawdown (1Y) Largest decline over 1 year	-9.78%	-8.92%	-0.86%
Max Drawdown (3Y) Largest decline over 3 years	-22.82%	-77.89%	+55.07%
Max Drawdown (5Y) Largest decline over 5 years	-24.00%	-77.89%	+53.89%
Max Drawdown (10Y) Largest decline over 10 years	-43.37%	-77.89%	+34.52%
Current Drawdown Current decline from peak	-3.61%	-67.25%	+63.64%
Average Drawdown Average peak-to-trough decline	-5.04%	-17.78%	+12.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.10%	2.85%	+0.25%

Volatility

FSSMX vs. BIGTX - Volatility Comparison

The current volatility for Fidelity Stock Selector Mid Cap Fund (FSSMX) is 4.09%, while The Texas Fund (BIGTX) has a volatility of 4.80%. This indicates that FSSMX experiences smaller price fluctuations and is considered to be less risky than BIGTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSSMX	BIGTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.09%	4.80%	-0.71%
Volatility (6M) Calculated over the trailing 6-month period	12.85%	11.16%	+1.69%
Volatility (1Y) Calculated over the trailing 1-year period	18.59%	14.95%	+3.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.31%	126.71%	-106.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.12%	90.64%	-69.52%

FSSMX vs. BIGTX - Expense Ratio Comparison

FSSMX has a 0.79% expense ratio, which is lower than BIGTX's 1.67% expense ratio.

Dividends

FSSMX vs. BIGTX - Dividend Comparison

FSSMX has not paid dividends to shareholders, while BIGTX's dividend yield for the trailing twelve months is around 6.29%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BIGTX The Texas Fund	6.29%	7.38%	3.52%	2.51%	3.06%	5.27%	0.07%	0.08%	2.27%	0.00%	0.00%	0.00%
FSSMX Fidelity Stock Selector Mid Cap Fund	0.00%	0.00%	3.10%	0.78%	9.73%	12.87%	2.31%	4.03%	21.01%	4.12%	0.92%	1.84%

Frequently Asked Questions

Can I hold both FSSMX and BIGTX in my portfolio?

FSSMX and BIGTX have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FSSMX or BIGTX?

BIGTX has higher volatility (4.80%) compared to FSSMX (4.09%). In terms of maximum drawdown, FSSMX dropped -43.37% vs BIGTX's -77.89%.

Which has better risk-adjusted returns?

BIGTX currently has the higher Sharpe Ratio (1.27 vs 0.81), 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.