MEFAX vs. FMDGX
MEFAX (MassMutual Mid Cap Growth Fund) and FMDGX (Fidelity Mid Cap Growth Index Fund) are both Mid Cap Growth Equities funds. Over the past 5 years, MEFAX returned 1.70%/yr vs 4.43%/yr for FMDGX. Their 0.95 correlation means they have historically moved very closely together. MEFAX charges 1.20%/yr vs 0.05%/yr for FMDGX.
Performance
MEFAX vs. FMDGX - Performance Comparison
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Returns By Period
In the year-to-date period, MEFAX achieves a 4.02% return, which is significantly higher than FMDGX's 0.60% return.
MEFAX
- 1D
- 0.78%
- 1M
- -2.45%
- 6M
- 2.68%
- YTD
- 4.02%
- 1Y
- 6.84%
- 3Y*
- 6.66%
- 5Y*
- 1.70%
- 10Y*
- 9.85%
- ALL TIME*
- 8.56%
FMDGX
- 1D
- 2.29%
- 1M
- -3.87%
- 6M
- 1.50%
- YTD
- 0.60%
- 1Y
- -0.77%
- 3Y*
- 11.99%
- 5Y*
- 4.43%
- 10Y*
- —
- ALL TIME*
- 10.00%
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 |
MEFAX vs. FMDGX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
MEFAX MassMutual Mid Cap Growth Fund | 4.02% | 3.19% | 10.80% | 19.11% | -24.58% | 13.75% | 25.52% | 11.93% |
FMDGX Fidelity Mid Cap Growth Index Fund | 0.60% | 8.60% | 22.03% | 25.79% | -26.67% | 12.67% | 34.84% | 4.63% |
Correlation
The correlation between MEFAX and FMDGX is 0.92, 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. | 0.92 |
Correlation (3Y) Balances recent behavior with more history. | 0.93 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.95 |
Correlation (All Time) Calculated using the full available price history since Jul 17, 2019 | 0.95 |
The correlation between MEFAX and FMDGX has been stable across timeframes, ranging from 0.92 to 0.95 - a consistent structural relationship.
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Return for Risk
MEFAX vs. FMDGX — Risk / Return Rank
MEFAX
FMDGX
MEFAX vs. FMDGX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MassMutual Mid Cap Growth Fund (MEFAX) 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.
| MEFAX | FMDGX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.47 | ||
| Sortino ratioReturn per unit of downside risk | +0.67 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 0.99 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 0.43 | -0.21 | +0.64 |
| Martin ratioReturn relative to average drawdown | 1.53 | -0.57 | +2.10 |
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Drawdowns
MEFAX vs. FMDGX - Drawdown Comparison
The maximum MEFAX drawdown since its inception was -56.04%, which is greater than FMDGX's maximum drawdown of -38.59%. Use the drawdown chart below to compare losses from any high point for MEFAX and FMDGX.
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Drawdown Indicators
| MEFAX | FMDGX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.04% | -38.59% | -17.45% |
Max Drawdown (1Y)Largest decline over 1 year | -10.45% | -14.75% | +4.30% |
Max Drawdown (3Y)Largest decline over 3 years | -34.46% | -25.30% | -9.16% |
Max Drawdown (5Y)Largest decline over 5 years | -45.14% | -38.59% | -6.55% |
Max Drawdown (10Y)Largest decline over 10 years | -45.14% | — | — |
Current DrawdownCurrent decline from peak | -15.26% | -6.20% | -9.06% |
Average DrawdownAverage peak-to-trough decline | -11.44% | -11.03% | -0.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.96% | 5.29% | -2.33% |
Volatility
MEFAX vs. FMDGX - Volatility Comparison
The current volatility for MassMutual Mid Cap Growth Fund (MEFAX) is 2.87%, while Fidelity Mid Cap Growth Index Fund (FMDGX) has a volatility of 5.15%. This indicates that MEFAX 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.
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Volatility by Period
| MEFAX | FMDGX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.87% | 5.15% | -2.28% |
Volatility (6M)Calculated over the trailing 6-month period | 11.82% | 14.00% | -2.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.14% | 17.61% | -2.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.52% | 22.54% | +4.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.90% | 24.23% | -0.33% |
MEFAX vs. FMDGX - Expense Ratio Comparison
MEFAX has a 1.20% expense ratio, which is higher than FMDGX's 0.05% expense ratio.
Dividends
MEFAX vs. FMDGX - Dividend Comparison
MEFAX's dividend yield for the trailing twelve months is around 32.84%, more than FMDGX's 1.84% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FMDGX Fidelity Mid Cap Growth Index Fund | 1.84% | 1.85% | 0.47% | 0.63% | 0.81% | 6.43% | 0.36% | 0.29% | 0.00% | 0.00% | 0.00% | 0.00% |
MEFAX MassMutual Mid Cap Growth Fund | 32.84% | 34.16% | 21.40% | 7.62% | 20.71% | 29.49% | 6.92% | 12.81% | 12.06% | 7.66% | 5.32% | 10.27% |
Frequently Asked Questions
With a correlation of 0.92, MEFAX and FMDGX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
FMDGX has higher volatility (5.15%) compared to MEFAX (2.87%). In terms of maximum drawdown, MEFAX dropped -56.04% vs FMDGX's -38.59%.
MEFAX currently has the higher Sharpe Ratio (0.30 vs -0.17), 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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