GCSVX vs. FSMAX

Last updated Aug 1, 2026

GCSVX (Geneva SMID Cap Growth Fund) and FSMAX (Fidelity Extended Market Index Fund) are both mutual funds - GCSVX is a Mid Cap Growth Equities fund managed by Geneva, while FSMAX is a Mid Cap Blend Equities fund tracking the Dow Jones U.S. Completion Total Stock Market Index. Over the past 3 years, GCSVX returned 2.48%/yr vs 15.94%/yr for FSMAX. Their correlation of 0.90 means they have usually moved in the same direction. GCSVX charges 0.43%/yr vs 0.04%/yr for FSMAX.

Performance

GCSVX vs. FSMAX - Performance Comparison

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

Returns By Period

In the year-to-date period, GCSVX achieves a -2.18% return, which is significantly lower than FSMAX's 13.84% return.

GCSVX

• 1D: -0.33%
• 1M: -2.18%
• 6M: -3.86%
• YTD: -2.18%
• 1Y: -4.78%
• 3Y*: 2.48%
• 5Y*: —
• 10Y*: —
• ALL TIME*: -0.84%

FSMAX

• 1D: 1.41%
• 1M: -2.65%
• 6M: 11.17%
• YTD: 13.84%
• 1Y: 23.61%
• 3Y*: 15.94%
• 5Y*: 6.17%
• 10Y*: 11.60%
• ALL TIME*: 12.12%

*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)
FSMAX Fidelity Extended Market Index Fund	$0.00	$0.00	$0.00
GCSVX Geneva SMID Cap Growth Fund	$0.00	$0.00	$0.00

GCSVX vs. FSMAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
GCSVX Geneva SMID Cap Growth Fund	-2.18%	-8.94%	14.70%	19.92%	-24.73%	4.24%
FSMAX Fidelity Extended Market Index Fund	13.84%	11.40%	16.99%	25.36%	-26.44%	3.38%

Correlation

The correlation between GCSVX and FSMAX 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.	0.86
Correlation (All Time) Calculated using the full available price history since Dec 6, 2021	0.90

The correlation between GCSVX and FSMAX has been stable across timeframes, ranging from 0.81 to 0.90 - a consistent structural relationship.

Return for Risk

GCSVX vs. FSMAX — Risk / Return Rank

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

GCSVX

GCSVX Risk / Return Rank: 1
GCSVX Sharpe Ratio Rank: 2
GCSVX Sortino Ratio Rank: 2
GCSVX Omega Ratio Rank: 2
GCSVX Calmar Ratio Rank: 1
GCSVX Martin Ratio Rank: 1

FSMAX

FSMAX Risk / Return Rank: 46
FSMAX Sharpe Ratio Rank: 40
FSMAX Sortino Ratio Rank: 41
FSMAX Omega Ratio Rank: 37
FSMAX Calmar Ratio Rank: 62
FSMAX Martin Ratio Rank: 51

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.

GCSVX vs. FSMAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Geneva SMID Cap Growth Fund (GCSVX) and Fidelity Extended Market Index Fund (FSMAX). 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	FSMAX	Difference
Sharpe ratio: Return per unit of total volatility	-0.37	1.16	-1.52
Sortino ratio: Return per unit of downside risk	-0.43	1.70	-2.13
Omega ratio: Gain probability vs. loss probability	0.95	1.20	-0.25
Calmar ratio: Return relative to maximum drawdown	-0.42	2.00	-2.42
Martin ratio: Return relative to average drawdown	-1.00	6.80	-7.80

GCSVX vs. FSMAX - Sharpe Ratio Comparison

The current GCSVX Sharpe Ratio is -0.37, which is lower than the FSMAX Sharpe Ratio of 1.16. The chart below compares the historical Sharpe Ratios of GCSVX and FSMAX, 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. FSMAX - Drawdown Comparison

The maximum GCSVX drawdown since its inception was -33.50%, smaller than the maximum FSMAX drawdown of -50.55%. Use the drawdown chart below to compare losses from any high point for GCSVX and FSMAX.

Drawdown Indicators

	GCSVX	FSMAX	Difference
Max Drawdown Largest peak-to-trough decline	-33.50%	-50.55%	+17.05%
Max Drawdown (1Y) Largest decline over 1 year	-14.70%	-10.26%	-4.44%
Max Drawdown (3Y) Largest decline over 3 years	-24.07%	-26.82%	+2.75%
Max Drawdown (5Y) Largest decline over 5 years	—	-36.31%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-50.55%	—
Current Drawdown Current decline from peak	-18.03%	-3.77%	-14.26%
Average Drawdown Average peak-to-trough decline	-14.54%	-12.06%	-2.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.12%	3.02%	+3.10%

Volatility

GCSVX vs. FSMAX - Volatility Comparison

The current volatility for Geneva SMID Cap Growth Fund (GCSVX) is 3.60%, while Fidelity Extended Market Index Fund (FSMAX) has a volatility of 3.90%. This indicates that GCSVX experiences smaller price fluctuations and is considered to be less risky than FSMAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GCSVX	FSMAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.60%	3.90%	-0.30%
Volatility (6M) Calculated over the trailing 6-month period	12.64%	13.31%	-0.67%
Volatility (1Y) Calculated over the trailing 1-year period	16.80%	17.80%	-1.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.62%	22.39%	-0.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.62%	30.22%	-8.60%

GCSVX vs. FSMAX - Expense Ratio Comparison

GCSVX has a 0.43% expense ratio, which is higher than FSMAX's 0.04% expense ratio.

Dividends

GCSVX vs. FSMAX - Dividend Comparison

GCSVX's dividend yield for the trailing twelve months is around 3.27%, more than FSMAX's 0.50% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSMAX Fidelity Extended Market Index Fund	0.50%	0.57%	0.48%	1.17%	1.90%	7.49%	2.14%	4.30%	6.09%	5.44%	4.85%	6.34%
GCSVX Geneva SMID Cap Growth Fund	3.27%	3.20%	0.47%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GCSVX and FSMAX in my portfolio?

GCSVX and FSMAX 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 FSMAX?

FSMAX has higher volatility (3.90%) compared to GCSVX (3.60%). In terms of maximum drawdown, GCSVX dropped -33.50% vs FSMAX's -50.55%.

Which has better risk-adjusted returns?

FSMAX currently has the higher Sharpe Ratio (1.16 vs -0.37), 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.