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

Correlation

The correlation between FZFLX and SPY is 0.87, 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.


-0.50.00.51.00.9

Performance

FZFLX vs. SPY - 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 SPDR S&P 500 ETF (SPY). The values are adjusted to include any dividend payments, if applicable.

-5.00%0.00%5.00%10.00%SeptemberOctoberNovemberDecember2025February
-2.43%
7.41%
FZFLX
SPY

Key characteristics

Sharpe Ratio

FZFLX:

0.35

SPY:

1.75

Sortino Ratio

FZFLX:

0.58

SPY:

2.36

Omega Ratio

FZFLX:

1.07

SPY:

1.32

Calmar Ratio

FZFLX:

0.08

SPY:

2.66

Martin Ratio

FZFLX:

1.28

SPY:

11.01

Ulcer Index

FZFLX:

4.15%

SPY:

2.03%

Daily Std Dev

FZFLX:

15.35%

SPY:

12.77%

Max Drawdown

FZFLX:

-70.34%

SPY:

-55.19%

Current Drawdown

FZFLX:

-60.00%

SPY:

-2.12%

Returns By Period

In the year-to-date period, FZFLX achieves a 0.31% return, which is significantly lower than SPY's 2.36% return.


FZFLX

YTD

0.31%

1M

-4.90%

6M

-2.43%

1Y

3.95%

5Y*

-11.73%

10Y*

N/A

SPY

YTD

2.36%

1M

-1.61%

6M

7.41%

1Y

19.65%

5Y*

15.00%

10Y*

12.97%

*Annualized

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FZFLX vs. SPY - Expense Ratio Comparison

FZFLX has a 0.05% expense ratio, which is lower than SPY's 0.09% expense ratio. Despite the difference, 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 SPY: current value at 0.09% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%0.09%
Expense ratio chart for FZFLX: current value at 0.05% compared with the broader market ranging from 0.00% to 2.12%.0.50%1.00%1.50%2.00%0.05%

Risk-Adjusted Performance

FZFLX vs. SPY — 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 1717
Overall Rank
The Sharpe Ratio Rank of FZFLX is 1818
Sharpe Ratio Rank
The Sortino Ratio Rank of FZFLX is 1919
Sortino Ratio Rank
The Omega Ratio Rank of FZFLX is 1616
Omega Ratio Rank
The Calmar Ratio Rank of FZFLX is 1111
Calmar Ratio Rank
The Martin Ratio Rank of FZFLX is 2121
Martin Ratio Rank

SPY
The Risk-Adjusted Performance Rank of SPY is 7777
Overall Rank
The Sharpe Ratio Rank of SPY is 7676
Sharpe Ratio Rank
The Sortino Ratio Rank of SPY is 7373
Sortino Ratio Rank
The Omega Ratio Rank of SPY is 7676
Omega Ratio Rank
The Calmar Ratio Rank of SPY is 7878
Calmar Ratio Rank
The Martin Ratio Rank of SPY is 8181
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. SPY - 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 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.


The chart of Sharpe ratio for FZFLX, currently valued at 0.35, compared to the broader market-1.000.001.002.003.004.000.351.75
The chart of Sortino ratio for FZFLX, currently valued at 0.58, compared to the broader market0.002.004.006.008.0010.0012.000.582.36
The chart of Omega ratio for FZFLX, currently valued at 1.07, compared to the broader market1.002.003.004.001.071.32
The chart of Calmar ratio for FZFLX, currently valued at 0.08, compared to the broader market0.005.0010.0015.0020.000.082.66
The chart of Martin ratio for FZFLX, currently valued at 1.28, compared to the broader market0.0020.0040.0060.0080.001.2811.01
FZFLX
SPY

The current FZFLX Sharpe Ratio is 0.35, which is lower than the SPY Sharpe Ratio of 1.75. The chart below compares the historical Sharpe Ratios of FZFLX and SPY, 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 Ratio0.001.002.003.004.00SeptemberOctoberNovemberDecember2025February
0.35
1.75
FZFLX
SPY

Dividends

FZFLX vs. SPY - Dividend Comparison

FZFLX's dividend yield for the trailing twelve months is around 1.84%, more than SPY's 1.18% yield.


TTM20242023202220212020201920182017201620152014
FZFLX
Fidelity SAI Small-Mid Cap 500 Index Fund
1.84%1.85%1.49%1.99%2.00%1.20%3.48%1.69%1.04%0.81%1.21%0.00%
SPY
SPDR S&P 500 ETF
1.18%1.21%1.40%1.65%1.20%1.52%1.75%2.04%1.80%2.03%2.06%1.87%

Drawdowns

FZFLX vs. SPY - Drawdown Comparison

The maximum FZFLX drawdown since its inception was -70.34%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for FZFLX and SPY. For additional features, visit the drawdowns tool.


-60.00%-50.00%-40.00%-30.00%-20.00%-10.00%0.00%SeptemberOctoberNovemberDecember2025February
-60.00%
-2.12%
FZFLX
SPY

Volatility

FZFLX vs. SPY - Volatility Comparison

Fidelity SAI Small-Mid Cap 500 Index Fund (FZFLX) has a higher volatility of 4.30% compared to SPDR S&P 500 ETF (SPY) at 3.38%. This indicates that FZFLX'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.


2.00%3.00%4.00%5.00%6.00%7.00%SeptemberOctoberNovemberDecember2025February
4.30%
3.38%
FZFLX
SPY