PEXMX vs. FMDGX
PEXMX (T. Rowe Price Extended Equity Market Index Fund) and FMDGX (Fidelity Mid Cap Growth Index Fund) are both Mid Cap Growth Equities funds. Over the past 5 years, PEXMX returned 6.04%/yr vs 4.37%/yr for FMDGX. Their correlation of 0.91 means they have usually moved in the same direction. PEXMX charges 0.23%/yr vs 0.05%/yr for FMDGX.
Performance
PEXMX vs. FMDGX - Performance Comparison
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Returns By Period
In the year-to-date period, PEXMX achieves a 13.46% return, which is significantly higher than FMDGX's 0.31% return.
PEXMX
- 1D
- -0.43%
- 1M
- -2.83%
- 6M
- 10.10%
- YTD
- 13.46%
- 1Y
- 23.21%
- 3Y*
- 15.82%
- 5Y*
- 6.04%
- 10Y*
- 11.80%
- ALL TIME*
- 9.05%
FMDGX
- 1D
- -0.28%
- 1M
- -4.14%
- 6M
- 0.83%
- YTD
- 0.31%
- 1Y
- -1.05%
- 3Y*
- 12.08%
- 5Y*
- 4.37%
- 10Y*
- —
- ALL TIME*
- 9.95%
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 |
PEXMX vs. FMDGX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
PEXMX T. Rowe Price Extended Equity Market Index Fund | 13.46% | 11.17% | 16.72% | 25.32% | -26.15% | 12.09% | 30.80% | 10.04% |
FMDGX Fidelity Mid Cap Growth Index Fund | 0.31% | 8.60% | 22.03% | 25.79% | -26.67% | 12.67% | 34.84% | 4.63% |
Correlation
The correlation between PEXMX and FMDGX is 0.90, 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. | 0.90 |
Correlation (3Y) Balances recent behavior with more history. | 0.90 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.93 |
Correlation (All Time) Calculated using the full available price history since Jul 17, 2019 | 0.91 |
The correlation between PEXMX and FMDGX has been stable across timeframes, ranging from 0.90 to 0.93 - a consistent structural relationship.
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Return for Risk
PEXMX vs. FMDGX — Risk / Return Rank
PEXMX
FMDGX
PEXMX vs. FMDGX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Extended Equity Market Index Fund (PEXMX) 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.
| PEXMX | FMDGX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.33 | ||
| Sortino ratioReturn per unit of downside risk | +1.85 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 0.99 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 2.07 | -0.18 | +2.25 |
| Martin ratioReturn relative to average drawdown | 7.01 | -0.51 | +7.52 |
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Drawdowns
PEXMX vs. FMDGX - Drawdown Comparison
The maximum PEXMX drawdown since its inception was -57.82%, which is greater than FMDGX's maximum drawdown of -38.59%. Use the drawdown chart below to compare losses from any high point for PEXMX and FMDGX.
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Drawdown Indicators
| PEXMX | FMDGX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.82% | -38.59% | -19.23% |
Max Drawdown (1Y)Largest decline over 1 year | -10.30% | -14.75% | +4.45% |
Max Drawdown (3Y)Largest decline over 3 years | -27.01% | -25.30% | -1.71% |
Max Drawdown (5Y)Largest decline over 5 years | -36.27% | -38.59% | +2.32% |
Max Drawdown (10Y)Largest decline over 10 years | -41.27% | — | — |
Current DrawdownCurrent decline from peak | -3.96% | -6.46% | +2.50% |
Average DrawdownAverage peak-to-trough decline | -13.55% | -11.02% | -2.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.02% | 5.30% | -2.28% |
Volatility
PEXMX vs. FMDGX - Volatility Comparison
The current volatility for T. Rowe Price Extended Equity Market Index Fund (PEXMX) is 3.84%, while Fidelity Mid Cap Growth Index Fund (FMDGX) has a volatility of 5.09%. This indicates that PEXMX 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
| PEXMX | FMDGX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.84% | 5.09% | -1.25% |
Volatility (6M)Calculated over the trailing 6-month period | 13.37% | 13.99% | -0.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.11% | 17.60% | +0.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.52% | 22.53% | -0.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.23% | 24.22% | -1.99% |
PEXMX vs. FMDGX - Expense Ratio Comparison
PEXMX has a 0.23% expense ratio, which is higher than FMDGX's 0.05% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
PEXMX vs. FMDGX - Dividend Comparison
PEXMX's dividend yield for the trailing twelve months is around 3.55%, more than FMDGX's 1.85% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FMDGX Fidelity Mid Cap Growth Index Fund | 1.85% | 1.85% | 0.47% | 0.63% | 0.81% | 6.43% | 0.36% | 0.29% | 0.00% | 0.00% | 0.00% | 0.00% |
PEXMX T. Rowe Price Extended Equity Market Index Fund | 3.55% | 4.02% | 7.64% | 3.64% | 7.53% | 14.87% | 2.99% | 8.17% | 6.67% | 4.50% | 5.90% | 4.81% |
Frequently Asked Questions
With a correlation of 0.90, PEXMX 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 (5.09%) compared to PEXMX (3.84%). In terms of maximum drawdown, PEXMX dropped -57.82% vs FMDGX's -38.59%.
PEXMX currently has the higher Sharpe Ratio (1.18 vs -0.15), 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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