VMFVX vs. FSLSX
VMFVX (Vanguard S&P Mid-Cap 400 Value Index Fund Institutional Shares) and FSLSX (Fidelity Value Strategies Fund) are both Mid Cap Value Equities funds. Over the past 10 years, VMFVX returned 10.61%/yr vs 12.12%/yr for FSLSX. Their correlation of 0.95 means they have usually moved in the same direction. VMFVX charges 0.08%/yr vs 0.86%/yr for FSLSX.
Performance
VMFVX vs. FSLSX - Performance Comparison
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Returns By Period
In the year-to-date period, VMFVX achieves a 13.52% return, which is significantly lower than FSLSX's 29.05% return. Over the past 10 years, VMFVX has underperformed FSLSX with an annualized return of 10.61%, while FSLSX has yielded a comparatively higher 12.12% annualized return.
VMFVX
- 1D
- 0.11%
- 1M
- 1.00%
- 6M
- 9.03%
- YTD
- 13.52%
- 1Y
- 23.10%
- 3Y*
- 12.01%
- 5Y*
- 9.25%
- 10Y*
- 10.61%
- ALL TIME*
- 10.87%
FSLSX
- 1D
- -0.08%
- 1M
- 2.06%
- 6M
- 19.20%
- YTD
- 29.05%
- 1Y
- 33.28%
- 3Y*
- 14.06%
- 5Y*
- 11.28%
- 10Y*
- 12.12%
- ALL TIME*
- 10.89%
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 |
VMFVX vs. FSLSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VMFVX Vanguard S&P Mid-Cap 400 Value Index Fund Institutional Shares | 13.52% | 7.57% | 10.59% | 16.49% | -7.03% | 30.54% | 3.68% | 26.18% | -11.90% | 12.27% |
FSLSX Fidelity Value Strategies Fund | 29.05% | 0.24% | 9.25% | 20.54% | -7.37% | 33.32% | 8.24% | 34.54% | -16.90% | 17.49% |
Correlation
The correlation between VMFVX and FSLSX 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. | 0.94 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.96 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.95 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2011 | 0.95 |
The correlation between VMFVX and FSLSX has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.
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Return for Risk
VMFVX vs. FSLSX — Risk / Return Rank
VMFVX
FSLSX
VMFVX vs. FSLSX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard S&P Mid-Cap 400 Value Index Fund Institutional Shares (VMFVX) and Fidelity Value Strategies Fund (FSLSX). 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.
| VMFVX | FSLSX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.24 | ||
| Sortino ratioReturn per unit of downside risk | -0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.30 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.92 | 3.06 | -1.14 |
| Martin ratioReturn relative to average drawdown | 6.84 | 10.30 | -3.47 |
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Drawdowns
VMFVX vs. FSLSX - Drawdown Comparison
The maximum VMFVX drawdown since its inception was -45.79%, smaller than the maximum FSLSX drawdown of -69.87%. Use the drawdown chart below to compare losses from any high point for VMFVX and FSLSX.
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Drawdown Indicators
| VMFVX | FSLSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.79% | -69.87% | +24.08% |
Max Drawdown (1Y)Largest decline over 1 year | -10.52% | -9.79% | -0.73% |
Max Drawdown (3Y)Largest decline over 3 years | -22.46% | -26.81% | +4.35% |
Max Drawdown (5Y)Largest decline over 5 years | -22.46% | -26.81% | +4.35% |
Max Drawdown (10Y)Largest decline over 10 years | -45.79% | -47.98% | +2.19% |
Current DrawdownCurrent decline from peak | -1.01% | -0.91% | -0.10% |
Average DrawdownAverage peak-to-trough decline | -5.43% | -8.25% | +2.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.96% | 2.94% | +0.02% |
Volatility
VMFVX vs. FSLSX - Volatility Comparison
Vanguard S&P Mid-Cap 400 Value Index Fund Institutional Shares (VMFVX) has a higher volatility of 3.41% compared to Fidelity Value Strategies Fund (FSLSX) at 3.24%. This indicates that VMFVX's price experiences larger fluctuations and is considered to be riskier than FSLSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VMFVX | FSLSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.41% | 3.24% | +0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 10.33% | 11.73% | -1.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.96% | 18.79% | -3.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.27% | 20.41% | -1.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.81% | 21.87% | -0.06% |
VMFVX vs. FSLSX - Expense Ratio Comparison
VMFVX has a 0.08% expense ratio, which is lower than FSLSX's 0.86% expense ratio.
Dividends
VMFVX vs. FSLSX - Dividend Comparison
VMFVX's dividend yield for the trailing twelve months is around 1.66%, while FSLSX has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSLSX Fidelity Value Strategies Fund | 0.00% | 0.00% | 10.41% | 2.49% | 2.13% | 7.29% | 0.84% | 4.84% | 14.59% | 6.57% | 19.71% | 1.26% |
VMFVX Vanguard S&P Mid-Cap 400 Value Index Fund Institutional Shares | 1.66% | 1.88% | 1.81% | 1.58% | 2.04% | 1.81% | 2.48% | 1.94% | 2.01% | 1.56% | 1.42% | 1.73% |
Frequently Asked Questions
With a correlation of 0.93, VMFVX and FSLSX 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.
VMFVX has higher volatility (3.41%) compared to FSLSX (3.24%). In terms of maximum drawdown, VMFVX dropped -45.79% vs FSLSX's -69.87%.
FSLSX currently has the higher Sharpe Ratio (1.60 vs 1.35), 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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