VMGIX vs. FMDGX
VMGIX (Vanguard Mid-Cap Growth Index Fund) and FMDGX (Fidelity Mid Cap Growth Index Fund) are both Mid Cap Growth Equities funds. Over the past 5 years, VMGIX returned 4.71%/yr vs 4.43%/yr for FMDGX. Their 0.98 correlation means they have historically moved very closely together. VMGIX charges 0.19%/yr vs 0.05%/yr for FMDGX.
Performance
VMGIX vs. FMDGX - Performance Comparison
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Returns By Period
In the year-to-date period, VMGIX achieves a 5.95% return, which is significantly higher than FMDGX's 0.60% return.
VMGIX
- 1D
- 1.52%
- 1M
- -2.08%
- 6M
- 6.94%
- YTD
- 5.95%
- 1Y
- 3.78%
- 3Y*
- 12.17%
- 5Y*
- 4.71%
- 10Y*
- 11.36%
- ALL TIME*
- 9.80%
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 |
VMGIX vs. FMDGX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
VMGIX Vanguard Mid-Cap Growth Index Fund | 5.95% | 10.56% | 15.51% | 23.79% | -28.93% | 20.32% | 34.30% | 4.41% |
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 VMGIX and FMDGX is 0.96 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.96 |
Correlation (3Y) Balances recent behavior with more history. | 0.96 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.98 |
Correlation (All Time) Calculated using the full available price history since Jul 17, 2019 | 0.98 |
The correlation between VMGIX and FMDGX has been stable across timeframes, ranging from 0.96 to 0.98 - a consistent structural relationship.
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Return for Risk
VMGIX vs. FMDGX — Risk / Return Rank
VMGIX
FMDGX
VMGIX vs. FMDGX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Mid-Cap Growth Index Fund (VMGIX) 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.
| VMGIX | FMDGX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.26 | ||
| Sortino ratioReturn per unit of downside risk | +0.37 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 0.99 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 0.09 | -0.21 | +0.30 |
| Martin ratioReturn relative to average drawdown | 0.27 | -0.57 | +0.84 |
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Drawdowns
VMGIX vs. FMDGX - Drawdown Comparison
The maximum VMGIX drawdown since its inception was -60.20%, which is greater than FMDGX's maximum drawdown of -38.59%. Use the drawdown chart below to compare losses from any high point for VMGIX and FMDGX.
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Drawdown Indicators
| VMGIX | FMDGX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.20% | -38.59% | -21.61% |
Max Drawdown (1Y)Largest decline over 1 year | -15.99% | -14.75% | -1.24% |
Max Drawdown (3Y)Largest decline over 3 years | -21.67% | -25.30% | +3.63% |
Max Drawdown (5Y)Largest decline over 5 years | -37.25% | -38.59% | +1.34% |
Max Drawdown (10Y)Largest decline over 10 years | -37.25% | — | — |
Current DrawdownCurrent decline from peak | -3.77% | -6.20% | +2.43% |
Average DrawdownAverage peak-to-trough decline | -9.95% | -11.03% | +1.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.43% | 5.29% | +0.14% |
Volatility
VMGIX vs. FMDGX - Volatility Comparison
The current volatility for Vanguard Mid-Cap Growth Index Fund (VMGIX) is 4.20%, while Fidelity Mid Cap Growth Index Fund (FMDGX) has a volatility of 5.15%. This indicates that VMGIX 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
| VMGIX | FMDGX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.20% | 5.15% | -0.95% |
Volatility (6M)Calculated over the trailing 6-month period | 13.95% | 14.00% | -0.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.31% | 17.61% | -0.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.63% | 22.54% | -0.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.03% | 24.23% | -3.20% |
VMGIX vs. FMDGX - Expense Ratio Comparison
VMGIX 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
VMGIX vs. FMDGX - Dividend Comparison
VMGIX's dividend yield for the trailing twelve months is around 0.49%, 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% |
VMGIX Vanguard Mid-Cap Growth Index Fund | 0.49% | 0.52% | 0.56% | 0.60% | 0.64% | 0.23% | 0.46% | 0.67% | 0.70% | 0.61% | 0.70% | 0.69% |
Frequently Asked Questions
With a correlation of 0.96, VMGIX 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 VMGIX (4.20%). In terms of maximum drawdown, VMGIX dropped -60.20% vs FMDGX's -38.59%.
VMGIX currently has the higher Sharpe Ratio (0.09 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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