LVOYX vs. FSMAX

Last updated Aug 1, 2026

LVOYX (Lord Abbett Value Opportunities Fund) and FSMAX (Fidelity Extended Market Index Fund) are both Mid Cap Blend Equities funds. Over the past 10 years, LVOYX returned 8.24%/yr vs 11.60%/yr for FSMAX. Their correlation of 0.93 means they have usually moved in the same direction. LVOYX charges 0.90%/yr vs 0.04%/yr for FSMAX.

Performance

LVOYX vs. FSMAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Lord Abbett Value Opportunities Fund (LVOYX) 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, LVOYX achieves a 11.82% return, which is significantly lower than FSMAX's 13.84% return. Over the past 10 years, LVOYX has underperformed FSMAX with an annualized return of 8.24%, while FSMAX has yielded a comparatively higher 11.60% annualized return.

LVOYX

• 1D: 0.94%
• 1M: -1.92%
• 6M: 6.55%
• YTD: 11.82%
• 1Y: 16.01%
• 3Y*: 9.96%
• 5Y*: 4.91%
• 10Y*: 8.24%
• ALL TIME*: 9.51%

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
LVOYX Lord Abbett Value Opportunities Fund	$0.00	$0.00	$0.00

LVOYX vs. FSMAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LVOYX Lord Abbett Value Opportunities Fund	11.82%	0.87%	13.84%	17.03%	-21.62%	27.23%	15.54%	23.05%	-12.06%	10.18%
FSMAX Fidelity Extended Market Index Fund	13.84%	11.40%	16.99%	25.36%	-26.44%	12.41%	32.28%	28.01%	-9.44%	18.04%

Correlation

The correlation between LVOYX 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.	0.91
Correlation (5Y) Shows whether the relationship held over a longer period.	0.92
Correlation (10Y) Provides a long-term view across more market conditions.	0.92
Correlation (All Time) Calculated using the full available price history since Sep 8, 2011	0.93

The correlation between LVOYX and FSMAX has been stable across timeframes, ranging from 0.86 to 0.93 - a consistent structural relationship.

Return for Risk

LVOYX vs. FSMAX — Risk / Return Rank

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

LVOYX

LVOYX Risk / Return Rank: 28
LVOYX Sharpe Ratio Rank: 25
LVOYX Sortino Ratio Rank: 27
LVOYX Omega Ratio Rank: 24
LVOYX Calmar Ratio Rank: 32
LVOYX Martin Ratio Rank: 33

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.

LVOYX vs. FSMAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Lord Abbett Value Opportunities Fund (LVOYX) 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.

	LVOYX	FSMAX	Difference
Sharpe ratio: Return per unit of total volatility	0.93	1.16	-0.23
Sortino ratio: Return per unit of downside risk	1.44	1.70	-0.27
Omega ratio: Gain probability vs. loss probability	1.17	1.20	-0.04
Calmar ratio: Return relative to maximum drawdown	1.50	2.00	-0.51
Martin ratio: Return relative to average drawdown	5.10	6.80	-1.70

LVOYX vs. FSMAX - Sharpe Ratio Comparison

The current LVOYX Sharpe Ratio is 0.93, which is comparable to the FSMAX Sharpe Ratio of 1.16. The chart below compares the historical Sharpe Ratios of LVOYX 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

LVOYX vs. FSMAX - Drawdown Comparison

The maximum LVOYX drawdown since its inception was -46.13%, smaller than the maximum FSMAX drawdown of -50.55%. Use the drawdown chart below to compare losses from any high point for LVOYX and FSMAX.

Drawdown Indicators

	LVOYX	FSMAX	Difference
Max Drawdown Largest peak-to-trough decline	-46.13%	-50.55%	+4.42%
Max Drawdown (1Y) Largest decline over 1 year	-9.26%	-10.26%	+1.00%
Max Drawdown (3Y) Largest decline over 3 years	-25.29%	-26.82%	+1.53%
Max Drawdown (5Y) Largest decline over 5 years	-29.14%	-36.31%	+7.17%
Max Drawdown (10Y) Largest decline over 10 years	-39.06%	-50.55%	+11.49%
Current Drawdown Current decline from peak	-3.24%	-3.77%	+0.53%
Average Drawdown Average peak-to-trough decline	-7.68%	-12.06%	+4.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.72%	3.02%	-0.30%

Volatility

LVOYX vs. FSMAX - Volatility Comparison

Lord Abbett Value Opportunities Fund (LVOYX) and Fidelity Extended Market Index Fund (FSMAX) have volatilities of 3.87% and 3.90%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LVOYX	FSMAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.87%	3.90%	-0.03%
Volatility (6M) Calculated over the trailing 6-month period	11.04%	13.31%	-2.27%
Volatility (1Y) Calculated over the trailing 1-year period	14.92%	17.80%	-2.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.07%	22.39%	-3.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.05%	30.22%	-10.17%

LVOYX vs. FSMAX - Expense Ratio Comparison

LVOYX has a 0.90% expense ratio, which is higher than FSMAX's 0.04% expense ratio.

Dividends

LVOYX vs. FSMAX - Dividend Comparison

LVOYX's dividend yield for the trailing twelve months is around 5.38%, 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%
LVOYX Lord Abbett Value Opportunities Fund	5.38%	6.01%	6.65%	1.59%	9.14%	12.66%	5.41%	11.55%	10.49%	5.98%	5.82%	7.68%

Frequently Asked Questions

Can I hold both LVOYX and FSMAX in my portfolio?

LVOYX 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.

Which is riskier, LVOYX or FSMAX?

FSMAX has higher volatility (3.90%) compared to LVOYX (3.87%). In terms of maximum drawdown, LVOYX dropped -46.13% vs FSMAX's -50.55%.

Which has better risk-adjusted returns?

FSMAX currently has the higher Sharpe Ratio (1.16 vs 0.93), 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.