MVV vs. FSKAX
Compare and contrast key facts about ProShares Ultra Midcap 400 (MVV) and Fidelity Total Market Index Fund (FSKAX).
MVV is a passively managed fund by ProShares that tracks the performance of the S&P MidCap 400 Index (200%). It was launched on Jun 21, 2006. FSKAX is managed by Fidelity.
Performance
MVV vs. FSKAX - Performance Comparison
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MVV vs. FSKAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MVV ProShares Ultra Midcap 400 | 2.97% | 3.48% | 17.75% | 22.51% | -31.96% | 48.57% | 6.20% | 49.50% | -25.44% | 30.81% |
FSKAX Fidelity Total Market Index Fund | -6.77% | 17.06% | 23.89% | 26.12% | -19.53% | 25.66% | 20.79% | 30.92% | -5.32% | 20.85% |
Returns By Period
In the year-to-date period, MVV achieves a 2.97% return, which is significantly higher than FSKAX's -6.77% return. Over the past 10 years, MVV has underperformed FSKAX with an annualized return of 12.11%, while FSKAX has yielded a comparatively higher 13.23% annualized return.
MVV
- 1D
- 5.86%
- 1M
- -11.15%
- YTD
- 2.97%
- 6M
- 4.17%
- 1Y
- 23.77%
- 3Y*
- 13.53%
- 5Y*
- 3.56%
- 10Y*
- 12.11%
FSKAX
- 1D
- -0.47%
- 1M
- -7.69%
- YTD
- -6.77%
- 6M
- -4.56%
- 1Y
- 14.73%
- 3Y*
- 16.72%
- 5Y*
- 10.13%
- 10Y*
- 13.23%
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MVV vs. FSKAX - Expense Ratio Comparison
MVV has a 0.95% expense ratio, which is higher than FSKAX's 0.02% expense ratio.
Return for Risk
MVV vs. FSKAX — Risk / Return Rank
MVV
FSKAX
MVV vs. FSKAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Midcap 400 (MVV) and Fidelity Total Market Index Fund (FSKAX). 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.
| MVV | FSKAX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.55 | 0.83 | -0.28 |
Sortino ratioReturn per unit of downside risk | 1.07 | 1.29 | -0.22 |
Omega ratioGain probability vs. loss probability | 1.15 | 1.19 | -0.05 |
Calmar ratioReturn relative to maximum drawdown | 0.90 | 1.04 | -0.14 |
Martin ratioReturn relative to average drawdown | 3.50 | 5.05 | -1.55 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MVV | FSKAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.55 | 0.83 | -0.28 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.09 | 0.59 | -0.50 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.29 | 0.72 | -0.43 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.23 | 0.78 | -0.54 |
Correlation
The correlation between MVV and FSKAX is 0.90, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
MVV vs. FSKAX - Dividend Comparison
MVV's dividend yield for the trailing twelve months is around 0.83%, less than FSKAX's 1.09% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MVV ProShares Ultra Midcap 400 | 0.83% | 0.77% | 0.39% | 0.77% | 0.93% | 0.16% | 0.29% | 0.62% | 0.62% | 0.21% | 0.43% | 0.17% |
FSKAX Fidelity Total Market Index Fund | 1.09% | 1.01% | 1.19% | 1.41% | 1.62% | 1.15% | 1.45% | 1.94% | 2.54% | 2.07% | 2.43% | 0.82% |
Drawdowns
MVV vs. FSKAX - Drawdown Comparison
The maximum MVV drawdown since its inception was -85.54%, which is greater than FSKAX's maximum drawdown of -35.01%. Use the drawdown chart below to compare losses from any high point for MVV and FSKAX.
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Drawdown Indicators
| MVV | FSKAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -85.54% | -35.01% | -50.53% |
Max Drawdown (1Y)Largest decline over 1 year | -26.85% | -12.42% | -14.43% |
Max Drawdown (5Y)Largest decline over 5 years | -45.53% | -25.39% | -20.14% |
Max Drawdown (10Y)Largest decline over 10 years | -69.19% | -35.01% | -34.18% |
Current DrawdownCurrent decline from peak | -12.85% | -8.92% | -3.93% |
Average DrawdownAverage peak-to-trough decline | -20.70% | -4.05% | -16.65% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.93% | 2.57% | +4.36% |
Volatility
MVV vs. FSKAX - Volatility Comparison
ProShares Ultra Midcap 400 (MVV) has a higher volatility of 13.17% compared to Fidelity Total Market Index Fund (FSKAX) at 4.42%. This indicates that MVV's price experiences larger fluctuations and is considered to be riskier than FSKAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MVV | FSKAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.17% | 4.42% | +8.75% |
Volatility (6M)Calculated over the trailing 6-month period | 23.96% | 9.40% | +14.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.27% | 18.50% | +24.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 39.67% | 17.38% | +22.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 42.33% | 18.42% | +23.91% |