TRMSX vs. FMDGX
TRMSX (T. Rowe Price Mid-Cap Index Fund) and FMDGX (Fidelity Mid Cap Growth Index Fund) are both Mid Cap Growth Equities funds. Over the past 5 years, TRMSX returned 6.20%/yr vs 4.37%/yr for FMDGX. Their correlation of 0.92 means they have usually moved in the same direction. TRMSX charges 0.14%/yr vs 0.05%/yr for FMDGX.
Performance
TRMSX vs. FMDGX - Performance Comparison
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Returns By Period
In the year-to-date period, TRMSX achieves a 9.69% return, which is significantly higher than FMDGX's 0.31% return.
TRMSX
- 1D
- -0.45%
- 1M
- -3.27%
- 6M
- 8.32%
- YTD
- 9.69%
- 1Y
- 14.27%
- 3Y*
- 16.50%
- 5Y*
- 6.20%
- 10Y*
- —
- ALL TIME*
- 7.82%
FMDGX
- 1D
- -0.28%
- 1M
- -4.14%
- 6M
- 0.83%
- YTD
- 0.31%
- 1Y
- -1.05%
- 3Y*
- 12.08%
- 5Y*
- 4.37%
- 10Y*
- —
- ALL TIME*
- 9.95%
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 |
TRMSX vs. FMDGX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
TRMSX T. Rowe Price Mid-Cap Index Fund | 9.69% | 12.61% | 19.98% | 29.90% | -28.56% | 7.68% |
FMDGX Fidelity Mid Cap Growth Index Fund | 0.31% | 8.60% | 22.03% | 25.79% | -26.67% | 15.51% |
Correlation
The correlation between TRMSX and FMDGX is 0.84, 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. | 0.84 |
Correlation (3Y) Balances recent behavior with more history. | 0.86 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.92 |
Correlation (All Time) Calculated using the full available price history since May 13, 2021 | 0.92 |
The correlation between TRMSX and FMDGX has been stable across timeframes, ranging from 0.84 to 0.92 - a consistent structural relationship.
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Return for Risk
TRMSX vs. FMDGX — Risk / Return Rank
TRMSX
FMDGX
TRMSX vs. FMDGX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Mid-Cap Index Fund (TRMSX) and Fidelity Mid Cap Growth Index Fund (FMDGX). 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.
| TRMSX | FMDGX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.05 | ||
| Sortino ratioReturn per unit of downside risk | +1.49 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 0.99 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 1.66 | -0.18 | +1.84 |
| Martin ratioReturn relative to average drawdown | 5.46 | -0.51 | +5.97 |
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Drawdowns
TRMSX vs. FMDGX - Drawdown Comparison
The maximum TRMSX drawdown since its inception was -37.34%, roughly equal to the maximum FMDGX drawdown of -38.59%. Use the drawdown chart below to compare losses from any high point for TRMSX and FMDGX.
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Drawdown Indicators
| TRMSX | FMDGX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.34% | -38.59% | +1.25% |
Max Drawdown (1Y)Largest decline over 1 year | -9.51% | -14.75% | +5.24% |
Max Drawdown (3Y)Largest decline over 3 years | -26.02% | -25.30% | -0.72% |
Max Drawdown (5Y)Largest decline over 5 years | -37.34% | -38.59% | +1.25% |
Current DrawdownCurrent decline from peak | -4.34% | -6.46% | +2.12% |
Average DrawdownAverage peak-to-trough decline | -13.51% | -11.02% | -2.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.77% | 5.30% | -2.53% |
Volatility
TRMSX vs. FMDGX - Volatility Comparison
The current volatility for T. Rowe Price Mid-Cap Index Fund (TRMSX) is 4.05%, while Fidelity Mid Cap Growth Index Fund (FMDGX) has a volatility of 5.09%. This indicates that TRMSX experiences smaller price fluctuations and is considered to be less risky than FMDGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TRMSX | FMDGX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.05% | 5.09% | -1.04% |
Volatility (6M)Calculated over the trailing 6-month period | 13.21% | 13.99% | -0.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.68% | 17.60% | +0.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.11% | 22.53% | +0.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.78% | 24.22% | -1.44% |
TRMSX vs. FMDGX - Expense Ratio Comparison
TRMSX has a 0.14% expense ratio, which is higher than FMDGX's 0.05% 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
TRMSX vs. FMDGX - Dividend Comparison
TRMSX's dividend yield for the trailing twelve months is around 5.91%, more than FMDGX's 1.85% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
FMDGX Fidelity Mid Cap Growth Index Fund | 1.85% | 1.85% | 0.47% | 0.63% | 0.81% | 6.43% | 0.36% | 0.29% |
TRMSX T. Rowe Price Mid-Cap Index Fund | 5.91% | 6.49% | 1.98% | 0.86% | 1.92% | 4.01% | 0.00% | 0.00% |
Frequently Asked Questions
TRMSX and FMDGX have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FMDGX has higher volatility (5.09%) compared to TRMSX (4.05%). In terms of maximum drawdown, TRMSX dropped -37.34% vs FMDGX's -38.59%.
TRMSX currently has the higher Sharpe Ratio (0.89 vs -0.15), 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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