VEXMX vs. FMDE
VEXMX (Vanguard Extended Market Index Fund) and FMDE (Fidelity Enhanced Mid Cap Core ETF) are both funds - VEXMX is a Mid Cap Growth Equities fund managed by Vanguard, while FMDE is a Mid Cap Blend Equities fund actively managed by Fidelity. Over the past year, VEXMX returned 23.60% vs 21.03% for FMDE. Their correlation of 0.93 means they have usually moved in the same direction. VEXMX charges 0.19%/yr vs 0.23%/yr for FMDE.
Performance
VEXMX vs. FMDE - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with VEXMX having a 13.88% return and FMDE slightly lower at 13.63%.
VEXMX
- 1D
- 1.41%
- 1M
- -2.64%
- 6M
- 11.23%
- YTD
- 13.88%
- 1Y
- 23.60%
- 3Y*
- 15.61%
- 5Y*
- 5.93%
- 10Y*
- 11.46%
- ALL TIME*
- 10.81%
FMDE
- 1D
- 0.10%
- 1M
- 1.81%
- 6M
- 12.31%
- YTD
- 13.63%
- 1Y
- 21.03%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 21.59%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $38.47M | $36.07M | $34.28M | |
| $0.00 | $0.00 | $0.00 |
VEXMX vs. FMDE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
VEXMX Vanguard Extended Market Index Fund | 13.88% | 10.93% | 15.05% | 14.33% |
FMDE Fidelity Enhanced Mid Cap Core ETF | 13.63% | 12.19% | 21.76% | 9.09% |
Correlation
The correlation between VEXMX and FMDE is 0.92, 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. | 0.92 |
Correlation (All Time) Calculated using the full available price history since Nov 20, 2023 | 0.93 |
The correlation between VEXMX and FMDE has been stable across timeframes, ranging from 0.92 to 0.93 - a consistent structural relationship.
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Return for Risk
VEXMX vs. FMDE — Risk / Return Rank
VEXMX
FMDE
VEXMX vs. FMDE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Extended Market Index Fund (VEXMX) and Fidelity Enhanced Mid Cap Core ETF (FMDE). 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.
| VEXMX | FMDE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.27 | ||
| Sortino ratioReturn per unit of downside risk | -0.36 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.25 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.00 | 2.35 | -0.35 |
| Martin ratioReturn relative to average drawdown | 6.79 | 9.29 | -2.50 |
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Drawdowns
VEXMX vs. FMDE - Drawdown Comparison
The maximum VEXMX drawdown since its inception was -58.17%, which is greater than FMDE's maximum drawdown of -21.10%. Use the drawdown chart below to compare losses from any high point for VEXMX and FMDE.
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Drawdown Indicators
| VEXMX | FMDE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.17% | -21.10% | -37.07% |
Max Drawdown (1Y)Largest decline over 1 year | -10.27% | -8.33% | -1.94% |
Max Drawdown (3Y)Largest decline over 3 years | -27.09% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -36.38% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -41.63% | — | — |
Current DrawdownCurrent decline from peak | -3.76% | -0.29% | -3.47% |
Average DrawdownAverage peak-to-trough decline | -11.11% | -2.52% | -8.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.02% | 2.10% | +0.92% |
Volatility
VEXMX vs. FMDE - Volatility Comparison
Vanguard Extended Market Index Fund (VEXMX) has a higher volatility of 3.90% compared to Fidelity Enhanced Mid Cap Core ETF (FMDE) at 2.41%. This indicates that VEXMX's price experiences larger fluctuations and is considered to be riskier than FMDE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VEXMX | FMDE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.90% | 2.41% | +1.49% |
Volatility (6M)Calculated over the trailing 6-month period | 13.31% | 10.26% | +3.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.80% | 13.75% | +4.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.41% | 15.93% | +6.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.37% | 15.93% | +6.44% |
VEXMX vs. FMDE - Expense Ratio Comparison
VEXMX has a 0.19% expense ratio, which is lower than FMDE's 0.23% 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
VEXMX vs. FMDE - Dividend Comparison
VEXMX's dividend yield for the trailing twelve months is around 0.90%, less than FMDE's 1.07% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FMDE Fidelity Enhanced Mid Cap Core ETF | 1.07% | 1.23% | 1.11% | 0.10% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VEXMX Vanguard Extended Market Index Fund | 0.90% | 0.74% | 0.74% | 1.14% | 1.00% | 0.99% | 1.19% | 1.18% | 1.52% | 1.12% | 1.31% | 1.20% |
Frequently Asked Questions
With a correlation of 0.92, VEXMX and FMDE 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.
VEXMX has higher volatility (3.90%) compared to FMDE (2.41%). In terms of maximum drawdown, VEXMX dropped -58.17% vs FMDE's -21.10%.
FMDE currently has the higher Sharpe Ratio (1.42 vs 1.15), 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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