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FZFLX vs. FSMDX
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Correlation

The correlation between FZFLX and FSMDX is 0.98, 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.


-0.50.00.51.0
Correlation: 1.0

Performance

FZFLX vs. FSMDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity SAI Small-Mid Cap 500 Index Fund (FZFLX) and Fidelity Mid Cap Index Fund (FSMDX). The values are adjusted to include any dividend payments, if applicable.

0.00%50.00%100.00%NovemberDecember2025FebruaryMarchApril
-37.34%
88.55%
FZFLX
FSMDX

Key characteristics

Sharpe Ratio

FZFLX:

-0.83

FSMDX:

-0.42

Sortino Ratio

FZFLX:

-1.02

FSMDX:

-0.45

Omega Ratio

FZFLX:

0.87

FSMDX:

0.94

Calmar Ratio

FZFLX:

-0.23

FSMDX:

-0.35

Martin Ratio

FZFLX:

-2.55

FSMDX:

-1.42

Ulcer Index

FZFLX:

6.09%

FSMDX:

4.85%

Daily Std Dev

FZFLX:

18.63%

FSMDX:

16.38%

Max Drawdown

FZFLX:

-70.34%

FSMDX:

-40.35%

Current Drawdown

FZFLX:

-66.25%

FSMDX:

-19.73%

Returns By Period

In the year-to-date period, FZFLX achieves a -15.36% return, which is significantly lower than FSMDX's -12.61% return.


FZFLX

YTD

-15.36%

1M

-12.90%

6M

-15.98%

1Y

-14.61%

5Y*

-7.24%

10Y*

N/A

FSMDX

YTD

-12.61%

1M

-12.02%

6M

-12.87%

1Y

-5.85%

5Y*

14.31%

10Y*

6.52%

*Annualized

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Fidelity Mid Cap Index Fund

FZFLX vs. FSMDX - Expense Ratio Comparison

FZFLX has a 0.05% expense ratio, which is higher than FSMDX's 0.03% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.


Expense ratio chart for FZFLX: current value is 0.05%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
FZFLX: 0.05%
Expense ratio chart for FSMDX: current value is 0.03%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
FSMDX: 0.03%

Risk-Adjusted Performance

FZFLX vs. FSMDX — Risk-Adjusted Performance Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FZFLX
The Risk-Adjusted Performance Rank of FZFLX is 1212
Overall Rank
The Sharpe Ratio Rank of FZFLX is 88
Sharpe Ratio Rank
The Sortino Ratio Rank of FZFLX is 77
Sortino Ratio Rank
The Omega Ratio Rank of FZFLX is 1010
Omega Ratio Rank
The Calmar Ratio Rank of FZFLX is 3636
Calmar Ratio Rank
The Martin Ratio Rank of FZFLX is 22
Martin Ratio Rank

FSMDX
The Risk-Adjusted Performance Rank of FSMDX is 1414
Overall Rank
The Sharpe Ratio Rank of FSMDX is 1616
Sharpe Ratio Rank
The Sortino Ratio Rank of FSMDX is 1616
Sortino Ratio Rank
The Omega Ratio Rank of FSMDX is 1616
Omega Ratio Rank
The Calmar Ratio Rank of FSMDX is 1313
Calmar Ratio Rank
The Martin Ratio Rank of FSMDX is 99
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

FZFLX vs. FSMDX - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity SAI Small-Mid Cap 500 Index Fund (FZFLX) and Fidelity Mid Cap Index Fund (FSMDX). 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.


The chart of Sharpe ratio for FZFLX, currently valued at -0.83, compared to the broader market-1.000.001.002.003.00
FZFLX: -0.83
FSMDX: -0.42
The chart of Sortino ratio for FZFLX, currently valued at -1.02, compared to the broader market-2.000.002.004.006.008.0010.00
FZFLX: -1.02
FSMDX: -0.45
The chart of Omega ratio for FZFLX, currently valued at 0.87, compared to the broader market0.501.001.502.002.503.003.50
FZFLX: 0.87
FSMDX: 0.94
The chart of Calmar ratio for FZFLX, currently valued at -0.23, compared to the broader market0.005.0010.0015.00
FZFLX: -0.23
FSMDX: -0.35
The chart of Martin ratio for FZFLX, currently valued at -2.55, compared to the broader market0.0020.0040.0060.00
FZFLX: -2.55
FSMDX: -1.42

The current FZFLX Sharpe Ratio is -0.83, which is lower than the FSMDX Sharpe Ratio of -0.42. The chart below compares the historical Sharpe Ratios of FZFLX and FSMDX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.


Rolling 12-month Sharpe Ratio-1.000.001.002.003.00NovemberDecember2025FebruaryMarchApril
-0.83
-0.42
FZFLX
FSMDX

Dividends

FZFLX vs. FSMDX - Dividend Comparison

FZFLX's dividend yield for the trailing twelve months is around 2.19%, more than FSMDX's 1.34% yield.


TTM20242023202220212020201920182017201620152014
FZFLX
Fidelity SAI Small-Mid Cap 500 Index Fund
2.19%1.85%1.49%1.99%2.00%1.20%3.48%1.69%1.04%0.81%1.21%0.00%
FSMDX
Fidelity Mid Cap Index Fund
1.34%1.17%1.39%1.59%1.10%1.37%1.42%1.85%1.32%1.35%2.29%3.82%

Drawdowns

FZFLX vs. FSMDX - Drawdown Comparison

The maximum FZFLX drawdown since its inception was -70.34%, which is greater than FSMDX's maximum drawdown of -40.35%. Use the drawdown chart below to compare losses from any high point for FZFLX and FSMDX. For additional features, visit the drawdowns tool.


-70.00%-60.00%-50.00%-40.00%-30.00%-20.00%-10.00%0.00%NovemberDecember2025FebruaryMarchApril
-66.25%
-19.73%
FZFLX
FSMDX

Volatility

FZFLX vs. FSMDX - Volatility Comparison

Fidelity SAI Small-Mid Cap 500 Index Fund (FZFLX) has a higher volatility of 10.78% compared to Fidelity Mid Cap Index Fund (FSMDX) at 9.82%. This indicates that FZFLX's price experiences larger fluctuations and is considered to be riskier than FSMDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


2.00%4.00%6.00%8.00%10.00%NovemberDecember2025FebruaryMarchApril
10.78%
9.82%
FZFLX
FSMDX