GCSVX vs. FMDGX

Last updated Jun 23, 2026

GCSVX (Geneva SMID Cap Growth Fund) and FMDGX (Fidelity Mid Cap Growth Index Fund) are both Mid Cap Growth Equities funds. Over the past 3 years, GCSVX returned 3.99%/yr vs 14.87%/yr for FMDGX. Their correlation of 0.91 suggests significant overlap in exposure. GCSVX charges 0.43%/yr vs 0.05%/yr for FMDGX.

Performance

GCSVX vs. FMDGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Geneva SMID Cap Growth Fund (GCSVX) and Fidelity Mid Cap Growth Index Fund (FMDGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GCSVX achieves a -0.98% return, which is significantly lower than FMDGX's 3.93% return.

GCSVX

• 1D: 1.11%
• 1M: 1.11%
• YTD: -0.98%
• 6M: -2.68%
• 1Y: -2.91%
• 3Y*: 3.99%
• 5Y*: —
• 10Y*: —

FMDGX

• 1D: 1.05%
• 1M: 1.93%
• YTD: 3.93%
• 6M: 1.36%
• 1Y: 6.22%
• 3Y*: 14.87%
• 5Y*: 6.11%
• 10Y*: —

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

GCSVX vs. FMDGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
GCSVX Geneva SMID Cap Growth Fund	-0.98%	-8.94%	14.70%	19.92%	-24.73%	4.24%
FMDGX Fidelity Mid Cap Growth Index Fund	3.93%	8.60%	22.03%	25.79%	-26.67%	4.06%

Correlation

The correlation between GCSVX and FMDGX is 0.81, 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	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (All Time) Calculated using the full available price history since Dec 6, 2021	0.91

The correlation between GCSVX and FMDGX shifts across timeframes, from 0.81 (1 year) to 0.91 (all time), reflecting how their relationship changes across market environments.

Return for Risk

GCSVX vs. FMDGX — Risk / Return Rank

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

GCSVX

GCSVX Risk / Return Rank: 2
GCSVX Sharpe Ratio Rank: 2
GCSVX Sortino Ratio Rank: 2
GCSVX Omega Ratio Rank: 2
GCSVX Calmar Ratio Rank: 2
GCSVX Martin Ratio Rank: 2

FMDGX

FMDGX Risk / Return Rank: 5
FMDGX Sharpe Ratio Rank: 5
FMDGX Sortino Ratio Rank: 5
FMDGX Omega Ratio Rank: 5
FMDGX Calmar Ratio Rank: 5
FMDGX Martin Ratio Rank: 5

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.

GCSVX vs. FMDGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Geneva SMID Cap Growth Fund (GCSVX) and Fidelity Mid Cap Growth Index Fund (FMDGX). 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.

	GCSVX	FMDGX	Difference
Sharpe ratio: Return per unit of total volatility	-0.18	0.35	-0.53
Sortino ratio: Return per unit of downside risk	-0.14	0.61	-0.75
Omega ratio: Gain probability vs. loss probability	0.98	1.07	-0.09
Calmar ratio: Return relative to maximum drawdown	-0.20	0.40	-0.60
Martin ratio: Return relative to average drawdown	-0.50	1.16	-1.67

GCSVX vs. FMDGX - Sharpe Ratio Comparison

The current GCSVX Sharpe Ratio is -0.18, which is lower than the FMDGX Sharpe Ratio of 0.35. The chart below compares the historical Sharpe Ratios of GCSVX and FMDGX, 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

GCSVX vs. FMDGX - Drawdown Comparison

The maximum GCSVX drawdown since its inception was -33.50%, smaller than the maximum FMDGX drawdown of -38.59%. Use the drawdown chart below to compare losses from any high point for GCSVX and FMDGX.

Drawdown Indicators

	GCSVX	FMDGX	Difference
Max Drawdown Largest peak-to-trough decline	-33.50%	-38.59%	+5.09%
Max Drawdown (1Y) Largest decline over 1 year	-14.94%	-14.75%	-0.19%
Max Drawdown (3Y) Largest decline over 3 years	-24.07%	-25.30%	+1.23%
Max Drawdown (5Y) Largest decline over 5 years	—	-38.59%	—
Current Drawdown Current decline from peak	-17.02%	-1.97%	-15.05%
Average Drawdown Average peak-to-trough decline	-14.47%	-11.14%	-3.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.00%	5.09%	+0.91%

Volatility

GCSVX vs. FMDGX - Volatility Comparison

The current volatility for Geneva SMID Cap Growth Fund (GCSVX) is 4.81%, while Fidelity Mid Cap Growth Index Fund (FMDGX) has a volatility of 5.90%. This indicates that GCSVX experiences smaller price fluctuations and is considered to be less risky than FMDGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GCSVX	FMDGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.81%	5.90%	-1.09%
Volatility (6M) Calculated over the trailing 6-month period	12.70%	13.43%	-0.73%
Volatility (1Y) Calculated over the trailing 1-year period	16.78%	17.04%	-0.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.77%	22.45%	-0.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.77%	24.31%	-2.54%

GCSVX vs. FMDGX - Expense Ratio Comparison

GCSVX has a 0.43% expense ratio, which is higher than FMDGX's 0.05% expense ratio.

Dividends

GCSVX vs. FMDGX - Dividend Comparison

GCSVX's dividend yield for the trailing twelve months is around 3.23%, more than FMDGX's 1.78% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
FMDGX Fidelity Mid Cap Growth Index Fund	1.78%	1.85%	0.47%	0.63%	0.81%	6.43%	0.36%	0.29%
GCSVX Geneva SMID Cap Growth Fund	3.23%	3.20%	0.47%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GCSVX and FMDGX in my portfolio?

GCSVX and FMDGX 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, GCSVX or FMDGX?

FMDGX has higher volatility (5.90%) compared to GCSVX (4.81%). In terms of maximum drawdown, GCSVX dropped -33.50% vs FMDGX's -38.59%.

Which has better risk-adjusted returns?

FMDGX currently has the higher Sharpe Ratio (0.35 vs -0.18), 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.