IAXIX vs. FSMAX
IAXIX (VY T. Rowe Price Diversified Mid Cap Growth Portfolio) and FSMAX (Fidelity Extended Market Index Fund) are both mutual funds - IAXIX is a Mid Cap Growth Equities fund managed by T. Rowe Price, while FSMAX is a Mid Cap Blend Equities fund tracking the Dow Jones U.S. Completion Total Stock Market Index. Over the past 10 years, IAXIX returned 12.41%/yr vs 11.70%/yr for FSMAX. Their correlation of 0.92 means they have usually moved in the same direction. IAXIX charges 0.78%/yr vs 0.04%/yr for FSMAX.
Performance
IAXIX vs. FSMAX - Performance Comparison
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Returns By Period
In the year-to-date period, IAXIX achieves a 2.00% return, which is significantly lower than FSMAX's 13.37% return. Over the past 10 years, IAXIX has outperformed FSMAX with an annualized return of 12.41%, while FSMAX has yielded a comparatively lower 11.70% annualized return.
IAXIX
- 1D
- -0.27%
- 1M
- -3.86%
- 6M
- 1.72%
- YTD
- 2.00%
- 1Y
- -0.72%
- 3Y*
- 12.70%
- 5Y*
- 5.34%
- 10Y*
- 12.41%
- ALL TIME*
- 9.55%
FSMAX
- 1D
- -0.41%
- 1M
- -3.05%
- 6M
- 10.02%
- YTD
- 13.37%
- 1Y
- 23.10%
- 3Y*
- 15.94%
- 5Y*
- 6.08%
- 10Y*
- 11.70%
- ALL TIME*
- 12.08%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
IAXIX vs. FSMAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IAXIX VY T. Rowe Price Diversified Mid Cap Growth Portfolio | 2.00% | 10.02% | 23.56% | 20.96% | -24.03% | 13.90% | 31.84% | 37.03% | -3.25% | 24.82% |
FSMAX Fidelity Extended Market Index Fund | 13.37% | 11.40% | 16.99% | 25.36% | -26.44% | 12.41% | 32.28% | 28.01% | -9.44% | 18.04% |
Correlation
The correlation between IAXIX and FSMAX is 0.86, 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. | 0.86 |
Correlation (3Y) Balances recent behavior with more history. | 0.83 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.89 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.90 |
Correlation (All Time) Calculated using the full available price history since Sep 8, 2011 | 0.92 |
The correlation between IAXIX and FSMAX has been stable across timeframes, ranging from 0.83 to 0.92 - a consistent structural relationship.
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Return for Risk
IAXIX vs. FSMAX — Risk / Return Rank
IAXIX
FSMAX
IAXIX vs. FSMAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VY T. Rowe Price Diversified Mid Cap Growth Portfolio (IAXIX) 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.
| IAXIX | FSMAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.20 | ||
| Sortino ratioReturn per unit of downside risk | -1.64 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.20 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | -0.05 | 2.01 | -2.07 |
| Martin ratioReturn relative to average drawdown | -0.16 | 6.81 | -6.97 |
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Drawdowns
IAXIX vs. FSMAX - Drawdown Comparison
The maximum IAXIX drawdown since its inception was -57.55%, which is greater than FSMAX's maximum drawdown of -50.55%. Use the drawdown chart below to compare losses from any high point for IAXIX and FSMAX.
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Drawdown Indicators
| IAXIX | FSMAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.55% | -50.55% | -7.00% |
Max Drawdown (1Y)Largest decline over 1 year | -14.20% | -10.26% | -3.94% |
Max Drawdown (3Y)Largest decline over 3 years | -25.22% | -26.82% | +1.60% |
Max Drawdown (5Y)Largest decline over 5 years | -35.55% | -36.31% | +0.76% |
Max Drawdown (10Y)Largest decline over 10 years | -35.92% | -50.55% | +14.63% |
Current DrawdownCurrent decline from peak | -6.11% | -4.16% | -1.95% |
Average DrawdownAverage peak-to-trough decline | -9.22% | -12.05% | +2.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.67% | 3.03% | +1.64% |
Volatility
IAXIX vs. FSMAX - Volatility Comparison
VY T. Rowe Price Diversified Mid Cap Growth Portfolio (IAXIX) has a higher volatility of 5.23% compared to Fidelity Extended Market Index Fund (FSMAX) at 3.88%. This indicates that IAXIX's price experiences larger fluctuations and is considered to be riskier than FSMAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IAXIX | FSMAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.23% | 3.88% | +1.35% |
Volatility (6M)Calculated over the trailing 6-month period | 14.49% | 13.30% | +1.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.48% | 17.80% | +0.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.72% | 22.39% | +0.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.62% | 30.22% | -8.60% |
IAXIX vs. FSMAX - Expense Ratio Comparison
IAXIX has a 0.78% expense ratio, which is higher than FSMAX's 0.04% expense ratio.
Dividends
IAXIX vs. FSMAX - Dividend Comparison
IAXIX's dividend yield for the trailing twelve months is around 14.53%, 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% |
IAXIX VY T. Rowe Price Diversified Mid Cap Growth Portfolio | 14.53% | 14.82% | 10.16% | 0.13% | 33.01% | 16.53% | 7.02% | 10.49% | 11.65% | 7.56% | 13.36% | 17.67% |
Frequently Asked Questions
IAXIX and FSMAX have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IAXIX has higher volatility (5.23%) compared to FSMAX (3.88%). In terms of maximum drawdown, IAXIX dropped -57.55% vs FSMAX's -50.55%.
FSMAX currently has the higher Sharpe Ratio (1.16 vs -0.04), 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.
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