VEXMX vs. FMDGX
VEXMX (Vanguard Extended Market Index Fund) and FMDGX (Fidelity Mid Cap Growth Index Fund) are both Mid Cap Growth Equities funds. Over the past 5 years, VEXMX returned 5.93%/yr vs 4.43%/yr for FMDGX. Their correlation of 0.92 means they have usually moved in the same direction. VEXMX charges 0.19%/yr vs 0.05%/yr for FMDGX.
Performance
VEXMX vs. FMDGX - Performance Comparison
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Returns By Period
In the year-to-date period, VEXMX achieves a 13.88% return, which is significantly higher than FMDGX's 0.60% return.
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%
FMDGX
- 1D
- 2.29%
- 1M
- -3.87%
- 6M
- 1.50%
- YTD
- 0.60%
- 1Y
- -0.77%
- 3Y*
- 11.99%
- 5Y*
- 4.43%
- 10Y*
- —
- ALL TIME*
- 10.00%
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 |
VEXMX vs. FMDGX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
VEXMX Vanguard Extended Market Index Fund | 13.88% | 10.93% | 15.05% | 26.79% | -26.56% | 12.31% | 32.43% | 5.84% |
FMDGX Fidelity Mid Cap Growth Index Fund | 0.60% | 8.60% | 22.03% | 25.79% | -26.67% | 12.67% | 34.84% | 4.63% |
Correlation
The correlation between VEXMX and FMDGX is 0.93, 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. | 0.93 |
Correlation (3Y) Balances recent behavior with more history. | 0.92 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.94 |
Correlation (All Time) Calculated using the full available price history since Jul 17, 2019 | 0.92 |
The correlation between VEXMX and FMDGX has been stable across timeframes, ranging from 0.92 to 0.94 - a consistent structural relationship.
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Return for Risk
VEXMX vs. FMDGX — Risk / Return Rank
VEXMX
FMDGX
VEXMX vs. FMDGX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Extended Market Index Fund (VEXMX) 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.
| VEXMX | FMDGX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.33 | ||
| Sortino ratioReturn per unit of downside risk | +1.83 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 0.99 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 2.00 | -0.21 | +2.21 |
| Martin ratioReturn relative to average drawdown | 6.79 | -0.57 | +7.36 |
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Drawdowns
VEXMX vs. FMDGX - Drawdown Comparison
The maximum VEXMX drawdown since its inception was -58.17%, which is greater than FMDGX's maximum drawdown of -38.59%. Use the drawdown chart below to compare losses from any high point for VEXMX and FMDGX.
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Drawdown Indicators
| VEXMX | FMDGX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.17% | -38.59% | -19.58% |
Max Drawdown (1Y)Largest decline over 1 year | -10.27% | -14.75% | +4.48% |
Max Drawdown (3Y)Largest decline over 3 years | -27.09% | -25.30% | -1.79% |
Max Drawdown (5Y)Largest decline over 5 years | -36.38% | -38.59% | +2.21% |
Max Drawdown (10Y)Largest decline over 10 years | -41.63% | — | — |
Current DrawdownCurrent decline from peak | -3.76% | -6.20% | +2.44% |
Average DrawdownAverage peak-to-trough decline | -11.11% | -11.03% | -0.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.02% | 5.29% | -2.27% |
Volatility
VEXMX vs. FMDGX - Volatility Comparison
The current volatility for Vanguard Extended Market Index Fund (VEXMX) is 3.90%, while Fidelity Mid Cap Growth Index Fund (FMDGX) has a volatility of 5.15%. This indicates that VEXMX 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
| VEXMX | FMDGX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.90% | 5.15% | -1.25% |
Volatility (6M)Calculated over the trailing 6-month period | 13.31% | 14.00% | -0.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.80% | 17.61% | +0.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.41% | 22.54% | -0.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.37% | 24.23% | -1.86% |
VEXMX vs. FMDGX - Expense Ratio Comparison
VEXMX has a 0.19% 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
VEXMX vs. FMDGX - Dividend Comparison
VEXMX's dividend yield for the trailing twelve months is around 0.90%, less than FMDGX's 1.84% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FMDGX Fidelity Mid Cap Growth Index Fund | 1.84% | 1.85% | 0.47% | 0.63% | 0.81% | 6.43% | 0.36% | 0.29% | 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 0.93, VEXMX and FMDGX 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.
FMDGX has higher volatility (5.15%) compared to VEXMX (3.90%). In terms of maximum drawdown, VEXMX dropped -58.17% vs FMDGX's -38.59%.
VEXMX currently has the higher Sharpe Ratio (1.15 vs -0.17), 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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