SFYX vs. FSMDX

Last updated Jun 4, 2026

SFYX (SoFi Next 500 ETF) and FSMDX (Fidelity Mid Cap Index Fund) are both funds - SFYX is a Mid Cap Growth Equities fund tracking the Solactive SoFi US Next 500 Growth Index, while FSMDX is a Mid Cap Blend Equities fund managed by Fidelity. Their correlation of 0.93 suggests significant overlap in exposure. SFYX charges 0.00%/yr vs 0.03%/yr for FSMDX.

Performance

SFYX vs. FSMDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SoFi Next 500 ETF (SFYX) and Fidelity Mid Cap Index Fund (FSMDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SFYX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

FSMDX

• 1D: 0.70%
• 1M: 4.12%
• YTD: 12.78%
• 6M: 12.57%
• 1Y: 22.14%
• 3Y*: 17.58%
• 5Y*: 8.41%
• 10Y*: 11.69%

*Multi-year figures are annualized to reflect compound growth (CAGR)

SFYX vs. FSMDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
SFYX SoFi Next 500 ETF	5.66%	14.25%	14.45%	17.70%	-22.88%	18.89%	17.63%	6.95%
FSMDX Fidelity Mid Cap Index Fund	12.78%	10.58%	15.55%	17.20%	-17.27%	22.56%	17.13%	9.19%

Correlation

The correlation between SFYX and FSMDX is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.75
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (All Time) Calculated using the full available price history since Apr 12, 2019	0.93

The correlation between SFYX and FSMDX shifts across timeframes, from 0.75 (1 year) to 0.93 (all time), reflecting how their relationship changes across market environments.

Return for Risk

SFYX vs. FSMDX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FSMDX

FSMDX Risk / Return Rank: 43
FSMDX Sharpe Ratio Rank: 37
FSMDX Sortino Ratio Rank: 36
FSMDX Omega Ratio Rank: 33
FSMDX Calmar Ratio Rank: 56
FSMDX Martin Ratio Rank: 55

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SFYX vs. FSMDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SoFi Next 500 ETF (SFYX) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	SFYX	FSMDX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.75	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.46	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.61	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.70	—

Drawdowns

Drawdown Indicators

	SFYX	FSMDX	Difference
Max Drawdown Largest peak-to-trough decline	—	-40.35%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-8.16%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-20.92%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-26.07%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-40.35%	—
Current Drawdown Current decline from peak	—	0.00%	—
Average Drawdown Average peak-to-trough decline	—	-4.96%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.11%	—

Volatility

Volatility by Period

	SFYX	FSMDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.31%	—
Volatility (6M) Calculated over the trailing 6-month period	—	9.93%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	13.42%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	18.26%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	19.32%	—

SFYX vs. FSMDX - Expense Ratio Comparison

SFYX has a 0.00% expense ratio, which is lower than FSMDX's 0.03% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

SFYX vs. FSMDX - Dividend Comparison

SFYX's dividend yield for the trailing twelve months is around 1.36%, more than FSMDX's 0.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSMDX Fidelity Mid Cap Index Fund	0.98%	1.10%	2.46%	1.39%	2.07%	3.35%	2.34%	2.86%	2.21%	2.17%	2.23%	2.84%
SFYX SoFi Next 500 ETF	1.36%	1.44%	1.25%	1.51%	1.56%	0.90%	1.16%	1.02%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SFYX and FSMDX in my portfolio?

SFYX and FSMDX have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.