PEXMX vs. FNILX
PEXMX (T. Rowe Price Extended Equity Market Index Fund) and FNILX (Fidelity ZERO Large Cap Index Fund) are both mutual funds - PEXMX is a Mid Cap Growth Equities fund managed by T. Rowe Price, while FNILX is a Large Cap Blend Equities fund managed by Fidelity. Over the past 5 years, PEXMX returned 6.31%/yr vs 13.32%/yr for FNILX. Their correlation of 0.86 suggests significant overlap in exposure. PEXMX charges 0.23%/yr vs 0.00%/yr for FNILX.
Performance
PEXMX vs. FNILX - Performance Comparison
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Returns By Period
In the year-to-date period, PEXMX achieves a 15.23% return, which is significantly higher than FNILX's 9.63% return.
PEXMX
- 1D
- -0.10%
- 1M
- 4.28%
- YTD
- 15.23%
- 6M
- 12.88%
- 1Y
- 28.97%
- 3Y*
- 20.05%
- 5Y*
- 6.31%
- 10Y*
- 12.66%
FNILX
- 1D
- -0.37%
- 1M
- 0.34%
- YTD
- 9.63%
- 6M
- 8.65%
- 1Y
- 25.14%
- 3Y*
- 21.66%
- 5Y*
- 13.32%
- 10Y*
- —
PEXMX vs. FNILX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
PEXMX T. Rowe Price Extended Equity Market Index Fund | 15.23% | 11.17% | 16.72% | 25.32% | -26.15% | 12.09% | 30.80% | 32.57% | -17.88% |
FNILX Fidelity ZERO Large Cap Index Fund | 9.63% | 17.81% | 25.47% | 27.45% | -19.37% | 26.67% | 21.13% | 31.79% | -13.60% |
Correlation
The correlation between PEXMX and FNILX is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.82 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.82 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.86 |
Correlation (All Time) Calculated using the full available price history since Sep 28, 2018 | 0.86 |
The correlation between PEXMX and FNILX has been stable across timeframes, ranging from 0.82 to 0.86 - a consistent structural relationship.
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Return for Risk
PEXMX vs. FNILX — Risk / Return Rank
PEXMX
FNILX
PEXMX vs. FNILX - 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 ZERO Large Cap Index Fund (FNILX). 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 | FNILX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.39 | ||
| Sortino ratioReturn per unit of downside risk | -0.41 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.38 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 3.02 | 2.94 | +0.08 |
| Martin ratioReturn relative to average drawdown | 10.58 | 12.99 | -2.42 |
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Drawdowns
PEXMX vs. FNILX - Drawdown Comparison
The maximum PEXMX drawdown since its inception was -57.82%, which is greater than FNILX's maximum drawdown of -33.76%. Use the drawdown chart below to compare losses from any high point for PEXMX and FNILX.
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Drawdown Indicators
| PEXMX | FNILX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.82% | -33.76% | -24.06% |
Max Drawdown (1Y)Largest decline over 1 year | -10.30% | -9.01% | -1.29% |
Max Drawdown (3Y)Largest decline over 3 years | -27.01% | -19.08% | -7.93% |
Max Drawdown (5Y)Largest decline over 5 years | -36.27% | -25.40% | -10.87% |
Max Drawdown (10Y)Largest decline over 10 years | -41.27% | — | — |
Current DrawdownCurrent decline from peak | -0.22% | -1.73% | +1.51% |
Average DrawdownAverage peak-to-trough decline | -13.60% | -5.35% | -8.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.90% | 2.03% | +0.87% |
Volatility
PEXMX vs. FNILX - Volatility Comparison
T. Rowe Price Extended Equity Market Index Fund (PEXMX) has a higher volatility of 6.05% compared to Fidelity ZERO Large Cap Index Fund (FNILX) at 4.82%. This indicates that PEXMX's price experiences larger fluctuations and is considered to be riskier than FNILX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PEXMX | FNILX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.05% | 4.82% | +1.23% |
Volatility (6M)Calculated over the trailing 6-month period | 13.74% | 9.90% | +3.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.15% | 12.61% | +5.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.56% | 17.34% | +5.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.30% | 20.04% | +2.26% |
PEXMX vs. FNILX - Expense Ratio Comparison
PEXMX has a 0.23% expense ratio, which is higher than FNILX's 0.00% 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. FNILX - Dividend Comparison
PEXMX's dividend yield for the trailing twelve months is around 3.49%, more than FNILX's 0.92% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FNILX Fidelity ZERO Large Cap Index Fund | 0.92% | 1.01% | 1.09% | 1.34% | 1.53% | 0.95% | 1.20% | 1.17% | 0.53% | 0.00% | 0.00% | 0.00% |
PEXMX T. Rowe Price Extended Equity Market Index Fund | 3.49% | 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
PEXMX and FNILX have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PEXMX has higher volatility (6.05%) compared to FNILX (4.82%). In terms of maximum drawdown, PEXMX dropped -57.82% vs FNILX's -33.76%.
FNILX currently has the higher Sharpe Ratio (2.10 vs 1.72), 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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