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FXAIX vs. MEIIX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FXAIX vs. MEIIX

Last updated Apr 10, 2026

FXAIX (Fidelity 500 Index Fund) and MEIIX (MFS Value Fund Class I) are both mutual funds — FXAIX is a S&P 500 fund tracking the S&P 500 Index, while MEIIX is a Large Cap Value Equities fund managed by MFS. Over the past 10 years, FXAIX returned 14.65%/yr vs 10.34%/yr for MEIIX. Their correlation of 0.88 suggests significant overlap in exposure. FXAIX charges 0.02%/yr vs 0.55%/yr for MEIIX.

Performance

FXAIX vs. MEIIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity 500 Index Fund (FXAIX) and MFS Value Fund Class I (MEIIX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, FXAIX achieves a -0.59% return, which is significantly lower than MEIIX's 3.97% return. Over the past 10 years, FXAIX has outperformed MEIIX with an annualized return of 14.65%, while MEIIX has yielded a comparatively lower 10.34% annualized return.

FXAIX

1D
2.51%
1M
0.11%
YTD
-0.59%
6M
1.31%
1Y
25.84%
3Y*
19.85%
5Y*
12.04%
10Y*
14.65%

MEIIX

1D
2.20%
1M
1.79%
YTD
3.97%
6M
6.93%
1Y
19.37%
3Y*
13.06%
5Y*
8.63%
10Y*
10.34%
*Multi-year figures are annualized to reflect compound growth (CAGR)

FXAIX vs. MEIIX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
FXAIX
Fidelity 500 Index Fund		-0.59%17.84%25.01%26.29%-18.14%28.71%18.42%31.48%-4.43%21.82%
MEIIX
MFS Value Fund Class I		3.97%13.26%11.86%8.21%-6.02%25.43%3.99%30.04%-9.90%17.20%

Correlation

The correlation between FXAIX and MEIIX is 0.67, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.67

Correlation (3Y)
Calculated over the trailing 3-year period

0.69

Correlation (5Y)
Calculated over the trailing 5-year period

0.79

Correlation (All Time)
Calculated using the full available price history since May 5, 2011

0.88

Over the past year, the correlation between FXAIX and MEIIX has dropped to 0.67 — well below their long-term average of 0.88, suggesting their price drivers have been diverging.

FXAIX vs. MEIIX - Expense Ratio Comparison

FXAIX has a 0.02% expense ratio, which is lower than MEIIX's 0.55% expense ratio.

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Fidelity 500 Index Fund

MFS Value Fund Class I

Often compared with FXAIX:
FXAIX vs. VOOFXAIX vs. SPYFXAIX vs. FZROXFXAIX vs. FSKAXFXAIX vs. FNILXFXAIX vs. FSPGXFXAIX vs. FCNTX
Often compared with MEIIX:
MEIIX vs. DFLVXMEIIX vs. FLMVXMEIIX vs. SCHDMEIIX vs. SPYVMEIIX vs. VIGMEIIX vs. MGVMEIIX vs. VOO

Return for Risk

FXAIX vs. MEIIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FXAIX
FXAIX Risk / Return Rank: 7878
Overall Rank
FXAIX Sharpe Ratio Rank: 6464
Sharpe Ratio Rank
FXAIX Sortino Ratio Rank: 7070
Sortino Ratio Rank
FXAIX Omega Ratio Rank: 7171
Omega Ratio Rank
FXAIX Calmar Ratio Rank: 9191
Calmar Ratio Rank
FXAIX Martin Ratio Rank: 9494
Martin Ratio Rank
MEIIX
MEIIX Risk / Return Rank: 6464
Overall Rank
MEIIX Sharpe Ratio Rank: 5252
Sharpe Ratio Rank
MEIIX Sortino Ratio Rank: 5555
Sortino Ratio Rank
MEIIX Omega Ratio Rank: 4747
Omega Ratio Rank
MEIIX Calmar Ratio Rank: 8585
Calmar Ratio Rank
MEIIX Martin Ratio Rank: 8282
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FXAIX vs. MEIIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity 500 Index Fund (FXAIX) and MFS Value Fund Class I (MEIIX). 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.

FXAIXMEIIXDifference

Sharpe ratio

Return per unit of total volatility

2.29

2.08

+0.21

Sortino ratio

Return per unit of downside risk

3.64

3.25

+0.39

Omega ratio

Gain probability vs. loss probability

1.50

1.41

+0.09

Calmar ratio

Return relative to maximum drawdown

3.97

3.61

+0.36

Martin ratio

Return relative to average drawdown

17.80

13.09

+4.70

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FXAIX vs. MEIIX - Sharpe Ratio Comparison

The current FXAIX Sharpe Ratio is 2.29, which is comparable to the MEIIX Sharpe Ratio of 2.08. The chart below compares the historical Sharpe Ratios of FXAIX and MEIIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

FXAIXMEIIXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.29

2.08

+0.21

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.71

0.62

+0.09

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.81

0.63

+0.19

Sharpe Ratio (All Time)

Calculated using the full available price history

0.78

0.56

+0.21

Drawdowns

FXAIX vs. MEIIX - Drawdown Comparison

The maximum FXAIX drawdown since its inception was -33.79%, smaller than the maximum MEIIX drawdown of -52.64%. Use the drawdown chart below to compare losses from any high point for FXAIX and MEIIX.

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Drawdown Indicators

FXAIXMEIIXDifference

Max Drawdown

Largest peak-to-trough decline

-33.79%

-52.64%

+18.85%

Max Drawdown (1Y)

Largest decline over 1 year

-8.89%

-6.76%

-2.13%

Max Drawdown (5Y)

Largest decline over 5 years

-24.50%

-17.58%

-6.92%

Max Drawdown (10Y)

Largest decline over 10 years

-33.79%

-36.70%

+2.91%

Current Drawdown

Current decline from peak

-2.56%

-2.29%

-0.27%

Average Drawdown

Average peak-to-trough decline

-3.83%

-6.58%

+2.75%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.99%

1.86%

+0.13%

Volatility

FXAIX vs. MEIIX - Volatility Comparison

Fidelity 500 Index Fund (FXAIX) has a higher volatility of 5.71% compared to MFS Value Fund Class I (MEIIX) at 3.94%. This indicates that FXAIX's price experiences larger fluctuations and is considered to be riskier than MEIIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FXAIXMEIIXDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.71%

3.94%

+1.77%

Volatility (6M)

Calculated over the trailing 6-month period

9.87%

8.12%

+1.75%

Volatility (1Y)

Calculated over the trailing 1-year period

16.76%

13.14%

+3.62%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.94%

13.95%

+2.99%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.06%

16.56%

+1.50%

Dividends

FXAIX vs. MEIIX - Dividend Comparison

FXAIX's dividend yield for the trailing twelve months is around 0.87%, less than MEIIX's 9.35% yield.

TTM20252024202320222021202020192018201720162015
FXAIX
Fidelity 500 Index Fund		0.87%1.11%1.25%1.45%1.69%1.22%1.60%2.06%2.72%1.97%2.52%2.83%
MEIIX
MFS Value Fund Class I		9.35%9.52%9.30%8.41%7.58%3.32%2.63%3.17%3.62%4.04%2.91%5.97%