TMIFX vs. FSMAX

Last updated Aug 1, 2026

TMIFX (Transamerica Mid Cap Growth) and FSMAX (Fidelity Extended Market Index Fund) are both mutual funds - TMIFX is a Mid Cap Growth Equities fund managed by Transamerica, while FSMAX is a Mid Cap Blend Equities fund tracking the Dow Jones U.S. Completion Total Stock Market Index. Over the past 5 years, TMIFX returned 3.15%/yr vs 6.17%/yr for FSMAX. Their correlation of 0.90 means they have usually moved in the same direction. TMIFX charges 0.95%/yr vs 0.04%/yr for FSMAX.

Performance

TMIFX vs. FSMAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Transamerica Mid Cap Growth (TMIFX) and Fidelity Extended Market Index Fund (FSMAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TMIFX achieves a 5.75% return, which is significantly lower than FSMAX's 13.84% return.

TMIFX

• 1D: 1.55%
• 1M: -4.17%
• 6M: 7.61%
• YTD: 5.75%
• 1Y: 1.42%
• 3Y*: 11.41%
• 5Y*: 3.15%
• 10Y*: —
• ALL TIME*: 8.41%

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%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FSMAX Fidelity Extended Market Index Fund	$0.00	$0.00	$0.00
TMIFX Transamerica Mid Cap Growth	$0.00	$0.00	$0.00

TMIFX vs. FSMAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TMIFX Transamerica Mid Cap Growth	5.75%	6.85%	16.25%	31.92%	-32.11%	8.15%	30.28%	42.96%	-19.90%	12.49%
FSMAX Fidelity Extended Market Index Fund	13.84%	11.40%	16.99%	25.36%	-26.44%	12.41%	32.28%	28.01%	-9.44%	13.70%

Correlation

The correlation between TMIFX and FSMAX is 0.88, 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.	0.88
Correlation (3Y) Balances recent behavior with more history.	0.88
Correlation (5Y) Shows whether the relationship held over a longer period.	0.90
Correlation (All Time) Calculated using the full available price history since Mar 8, 2017	0.90

The correlation between TMIFX and FSMAX has been stable across timeframes, ranging from 0.88 to 0.90 - a consistent structural relationship.

Return for Risk

TMIFX vs. FSMAX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

TMIFX

TMIFX Risk / Return Rank: 3
TMIFX Sharpe Ratio Rank: 3
TMIFX Sortino Ratio Rank: 3
TMIFX Omega Ratio Rank: 3
TMIFX Calmar Ratio Rank: 3
TMIFX Martin Ratio Rank: 3

FSMAX

FSMAX Risk / Return Rank: 46
FSMAX Sharpe Ratio Rank: 40
FSMAX Sortino Ratio Rank: 41
FSMAX Omega Ratio Rank: 37
FSMAX Calmar Ratio Rank: 62
FSMAX Martin Ratio Rank: 51

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

TMIFX vs. FSMAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Transamerica Mid Cap Growth (TMIFX) 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.

	TMIFX	FSMAX	Difference
Sharpe ratio: Return per unit of total volatility	-0.11	1.16	-1.27
Sortino ratio: Return per unit of downside risk	-0.03	1.70	-1.73
Omega ratio: Gain probability vs. loss probability	1.00	1.20	-0.21
Calmar ratio: Return relative to maximum drawdown	-0.14	2.00	-2.14
Martin ratio: Return relative to average drawdown	-0.36	6.80	-7.16

TMIFX vs. FSMAX - Sharpe Ratio Comparison

The current TMIFX Sharpe Ratio is -0.11, which is lower than the FSMAX Sharpe Ratio of 1.16. The chart below compares the historical Sharpe Ratios of TMIFX and FSMAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

TMIFX vs. FSMAX - Drawdown Comparison

The maximum TMIFX drawdown since its inception was -55.26%, which is greater than FSMAX's maximum drawdown of -50.55%. Use the drawdown chart below to compare losses from any high point for TMIFX and FSMAX.

Drawdown Indicators

	TMIFX	FSMAX	Difference
Max Drawdown Largest peak-to-trough decline	-55.26%	-50.55%	-4.71%
Max Drawdown (1Y) Largest decline over 1 year	-14.51%	-10.26%	-4.25%
Max Drawdown (3Y) Largest decline over 3 years	-25.66%	-26.82%	+1.16%
Max Drawdown (5Y) Largest decline over 5 years	-55.26%	-36.31%	-18.95%
Max Drawdown (10Y) Largest decline over 10 years	—	-50.55%	—
Current Drawdown Current decline from peak	-16.47%	-3.77%	-12.70%
Average Drawdown Average peak-to-trough decline	-19.05%	-12.06%	-6.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.01%	3.02%	+2.99%

Volatility

TMIFX vs. FSMAX - Volatility Comparison

Transamerica Mid Cap Growth (TMIFX) has a higher volatility of 4.54% compared to Fidelity Extended Market Index Fund (FSMAX) at 3.90%. This indicates that TMIFX'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.

Volatility by Period

	TMIFX	FSMAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.54%	3.90%	+0.64%
Volatility (6M) Calculated over the trailing 6-month period	14.38%	13.31%	+1.07%
Volatility (1Y) Calculated over the trailing 1-year period	18.21%	17.80%	+0.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.69%	22.39%	+13.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.89%	30.22%	-0.33%

TMIFX vs. FSMAX - Expense Ratio Comparison

TMIFX has a 0.95% expense ratio, which is higher than FSMAX's 0.04% expense ratio.

Dividends

TMIFX vs. FSMAX - Dividend Comparison

TMIFX's dividend yield for the trailing twelve months is around 23.27%, 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%
TMIFX Transamerica Mid Cap Growth	23.27%	24.61%	4.10%	0.00%	0.00%	43.24%	4.67%	1.66%	53.57%	0.09%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TMIFX and FSMAX in my portfolio?

TMIFX and FSMAX have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TMIFX or FSMAX?

TMIFX has higher volatility (4.54%) compared to FSMAX (3.90%). In terms of maximum drawdown, TMIFX dropped -55.26% vs FSMAX's -50.55%.

Which has better risk-adjusted returns?

FSMAX currently has the higher Sharpe Ratio (1.16 vs -0.11), 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.