PRDMX vs. FSMDX
PRDMX (T. Rowe Price Diversified Mid Cap Growth Fund) and FSMDX (Fidelity Mid Cap Index Fund) are both mutual funds - PRDMX is a Mid Cap Growth Equities fund managed by T. Rowe Price, while FSMDX is a Mid Cap Blend Equities fund tracking the Russell Midcap Index. Over the past 10 years, PRDMX returned 12.24%/yr vs 11.45%/yr for FSMDX. Their correlation of 0.93 means they have usually moved in the same direction. PRDMX charges 0.79%/yr vs 0.03%/yr for FSMDX.
Performance
PRDMX vs. FSMDX - 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 FSMDX's 14.95% return. Over the past 10 years, PRDMX has outperformed FSMDX with an annualized return of 12.24%, while FSMDX has yielded a comparatively lower 11.45% 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%
FSMDX
- 1D
- 0.35%
- 1M
- -0.33%
- 6M
- 11.53%
- YTD
- 14.95%
- 1Y
- 20.72%
- 3Y*
- 14.95%
- 5Y*
- 8.30%
- 10Y*
- 11.45%
- ALL TIME*
- 12.64%
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. FSMDX - 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% |
FSMDX Fidelity Mid Cap Index Fund | 14.95% | 10.58% | 15.55% | 17.20% | -17.27% | 22.56% | 17.13% | 30.53% | -9.38% | 18.04% |
Correlation
The correlation between PRDMX and FSMDX is 0.86, 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. | 0.86 |
Correlation (3Y) Balances recent behavior with more history. | 0.87 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.91 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.91 |
Correlation (All Time) Calculated using the full available price history since Sep 9, 2011 | 0.93 |
The correlation between PRDMX and FSMDX has been stable across timeframes, ranging from 0.86 to 0.93 - a consistent structural relationship.
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Return for Risk
PRDMX vs. FSMDX — Risk / Return Rank
PRDMX
FSMDX
PRDMX vs. FSMDX - 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 Mid Cap Index Fund (FSMDX). 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 | FSMDX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.39 | ||
| Sortino ratioReturn per unit of downside risk | -1.91 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.24 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | -0.07 | 2.25 | -2.31 |
| Martin ratioReturn relative to average drawdown | -0.20 | 8.71 | -8.90 |
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Drawdowns
PRDMX vs. FSMDX - Drawdown Comparison
The maximum PRDMX drawdown since its inception was -57.57%, which is greater than FSMDX's maximum drawdown of -40.35%. Use the drawdown chart below to compare losses from any high point for PRDMX and FSMDX.
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Drawdown Indicators
| PRDMX | FSMDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.57% | -40.35% | -17.22% |
Max Drawdown (1Y)Largest decline over 1 year | -14.15% | -8.16% | -5.99% |
Max Drawdown (3Y)Largest decline over 3 years | -25.06% | -20.92% | -4.14% |
Max Drawdown (5Y)Largest decline over 5 years | -35.69% | -26.07% | -9.62% |
Max Drawdown (10Y)Largest decline over 10 years | -35.91% | -40.35% | +4.44% |
Current DrawdownCurrent decline from peak | -5.85% | -0.66% | -5.19% |
Average DrawdownAverage peak-to-trough decline | -8.40% | -4.91% | -3.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.74% | 2.11% | +2.63% |
Volatility
PRDMX vs. FSMDX - Volatility Comparison
T. Rowe Price Diversified Mid Cap Growth Fund (PRDMX) has a higher volatility of 5.24% compared to Fidelity Mid Cap Index Fund (FSMDX) at 2.42%. This indicates that PRDMX's price experiences larger fluctuations and is considered to be riskier than FSMDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PRDMX | FSMDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.24% | 2.42% | +2.82% |
Volatility (6M)Calculated over the trailing 6-month period | 14.47% | 10.22% | +4.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.04% | 13.71% | +4.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.01% | 18.26% | +3.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.40% | 19.27% | +2.13% |
PRDMX vs. FSMDX - Expense Ratio Comparison
PRDMX has a 0.79% expense ratio, which is higher than FSMDX's 0.03% expense ratio.
Dividends
PRDMX vs. FSMDX - Dividend Comparison
PRDMX's dividend yield for the trailing twelve months is around 7.60%, more than FSMDX's 0.76% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSMDX Fidelity Mid Cap Index Fund | 0.76% | 1.10% | 2.46% | 1.39% | 2.07% | 3.35% | 2.34% | 2.86% | 2.21% | 2.17% | 2.23% | 2.84% |
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
PRDMX and FSMDX have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PRDMX has higher volatility (5.24%) compared to FSMDX (2.42%). In terms of maximum drawdown, PRDMX dropped -57.57% vs FSMDX's -40.35%.
FSMDX currently has the higher Sharpe Ratio (1.34 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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