PRDMX vs. FSMAX
PRDMX (T. Rowe Price Diversified Mid Cap Growth Fund) and FSMAX (Fidelity Extended Market Index Fund) are both mutual funds - PRDMX is a Mid Cap Growth Equities fund managed by T. Rowe Price, while FSMAX is a Mid Cap Blend Equities fund tracking the Dow Jones U.S. Completion Total Stock Market Index. Over the past 10 years, PRDMX returned 12.24%/yr vs 11.60%/yr for FSMAX. Their correlation of 0.93 means they have usually moved in the same direction. PRDMX charges 0.79%/yr vs 0.04%/yr for FSMAX.
Performance
PRDMX vs. FSMAX - Performance Comparison
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Returns By Period
In the year-to-date period, PRDMX achieves a 1.86% return, which is significantly lower than FSMAX's 13.84% return. Over the past 10 years, PRDMX has outperformed FSMAX with an annualized return of 12.24%, while FSMAX has yielded a comparatively lower 11.60% annualized return.
PRDMX
- 1D
- 2.48%
- 1M
- -3.51%
- 6M
- 2.10%
- YTD
- 1.86%
- 1Y
- 0.92%
- 3Y*
- 12.67%
- 5Y*
- 5.14%
- 10Y*
- 12.24%
- ALL TIME*
- 10.44%
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%
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 |
PRDMX vs. FSMAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PRDMX T. Rowe Price Diversified Mid Cap Growth Fund | 1.86% | 10.30% | 23.77% | 20.75% | -24.65% | 13.56% | 31.82% | 37.91% | -3.15% | 24.66% |
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 PRDMX and FSMAX is 0.93, 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. | 0.93 |
Correlation (3Y) Balances recent behavior with more history. | 0.91 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.93 |
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 PRDMX and FSMAX has been stable across timeframes, ranging from 0.91 to 0.93 - a consistent structural relationship.
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Return for Risk
PRDMX vs. FSMAX — Risk / Return Rank
PRDMX
FSMAX
PRDMX vs. FSMAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Diversified Mid Cap Growth Fund (PRDMX) 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.
| PRDMX | FSMAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.21 | ||
| Sortino ratioReturn per unit of downside risk | -1.65 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.20 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | -0.07 | 2.00 | -2.07 |
| Martin ratioReturn relative to average drawdown | -0.20 | 6.80 | -7.00 |
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Drawdowns
PRDMX vs. FSMAX - Drawdown Comparison
The maximum PRDMX drawdown since its inception was -57.57%, which is greater than FSMAX's maximum drawdown of -50.55%. Use the drawdown chart below to compare losses from any high point for PRDMX and FSMAX.
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Drawdown Indicators
| PRDMX | FSMAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.57% | -50.55% | -7.02% |
Max Drawdown (1Y)Largest decline over 1 year | -14.15% | -10.26% | -3.89% |
Max Drawdown (3Y)Largest decline over 3 years | -25.06% | -26.82% | +1.76% |
Max Drawdown (5Y)Largest decline over 5 years | -35.69% | -36.31% | +0.62% |
Max Drawdown (10Y)Largest decline over 10 years | -35.91% | -50.55% | +14.64% |
Current DrawdownCurrent decline from peak | -5.85% | -3.77% | -2.08% |
Average DrawdownAverage peak-to-trough decline | -8.40% | -12.06% | +3.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.74% | 3.02% | +1.72% |
Volatility
PRDMX vs. FSMAX - Volatility Comparison
T. Rowe Price Diversified Mid Cap Growth Fund (PRDMX) has a higher volatility of 5.24% compared to Fidelity Extended Market Index Fund (FSMAX) at 3.90%. This indicates that PRDMX's price experiences larger fluctuations and is considered to be riskier than FSMAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PRDMX | FSMAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.24% | 3.90% | +1.34% |
Volatility (6M)Calculated over the trailing 6-month period | 14.47% | 13.31% | +1.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.04% | 17.80% | +0.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.01% | 22.39% | -0.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.40% | 30.22% | -8.82% |
PRDMX vs. FSMAX - Expense Ratio Comparison
PRDMX has a 0.79% expense ratio, which is higher than FSMAX's 0.04% expense ratio.
Dividends
PRDMX vs. FSMAX - Dividend Comparison
PRDMX's dividend yield for the trailing twelve months is around 7.60%, 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% |
PRDMX T. Rowe Price Diversified Mid Cap Growth Fund | 7.60% | 7.75% | 8.59% | 6.83% | 1.22% | 10.13% | 4.80% | 2.02% | 5.23% | 3.71% | 1.23% | 3.78% |
Frequently Asked Questions
With a correlation of 0.93, PRDMX and FSMAX 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.
PRDMX has higher volatility (5.24%) compared to FSMAX (3.90%). In terms of maximum drawdown, PRDMX dropped -57.57% vs FSMAX's -50.55%.
FSMAX currently has the higher Sharpe Ratio (1.16 vs -0.05), 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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