WELL vs. FSMDX

Last updated Jun 13, 2026

WELL (Welltower Inc.) is a stock, while FSMDX (Fidelity Mid Cap Index Fund) is Mid Cap Blend Equities fund tracking the Russell Midcap Index. Over the past 10 years, WELL returned 15.50%/yr vs 11.76%/yr for FSMDX. At a 0.40 correlation, their price movements are largely independent.

Performance

WELL vs. FSMDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Welltower Inc. (WELL) and Fidelity Mid Cap Index Fund (FSMDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WELL achieves a 16.22% return, which is significantly higher than FSMDX's 12.29% return. Over the past 10 years, WELL has outperformed FSMDX with an annualized return of 15.50%, while FSMDX has yielded a comparatively lower 11.76% annualized return.

WELL

• 1D: 1.69%
• 1M: 0.23%
• YTD: 16.22%
• 6M: 15.53%
• 1Y: 42.73%
• 3Y*: 40.64%
• 5Y*: 24.91%
• 10Y*: 15.50%

FSMDX

• 1D: 2.24%
• 1M: 3.96%
• YTD: 12.29%
• 6M: 11.02%
• 1Y: 22.43%
• 3Y*: 16.72%
• 5Y*: 8.00%
• 10Y*: 11.76%

*Multi-year figures are annualized to reflect compound growth (CAGR)

WELL vs. FSMDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
WELL Welltower Inc.	16.22%	49.86%	43.07%	41.79%	-21.18%	36.98%	-17.19%	23.04%	15.31%	0.22%
FSMDX Fidelity Mid Cap Index Fund	12.29%	10.58%	15.55%	17.20%	-17.27%	22.56%	17.13%	30.53%	-9.38%	18.04%

Correlation

The correlation between WELL and FSMDX is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.08
Correlation (3Y) Calculated over the trailing 3-year period	0.30
Correlation (5Y) Calculated over the trailing 5-year period	0.39
Correlation (10Y) Calculated over the trailing 10-year period	0.38
Correlation (All Time) Calculated using the full available price history since Sep 9, 2011	0.40

Over the past year, the correlation between WELL and FSMDX has dropped to 0.08 - well below their long-term average of 0.40, suggesting their price drivers have been diverging.

Return for Risk

WELL vs. FSMDX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

WELL

WELL Risk / Return Rank: 87
WELL Sharpe Ratio Rank: 90
WELL Sortino Ratio Rank: 86
WELL Omega Ratio Rank: 86
WELL Calmar Ratio Rank: 87
WELL Martin Ratio Rank: 86

FSMDX

FSMDX Risk / Return Rank: 52
FSMDX Sharpe Ratio Rank: 44
FSMDX Sortino Ratio Rank: 45
FSMDX Omega Ratio Rank: 40
FSMDX Calmar Ratio Rank: 68
FSMDX Martin Ratio Rank: 64

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

WELL vs. FSMDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Welltower Inc. (WELL) and Fidelity Mid Cap Index Fund (FSMDX). 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.

	WELL	FSMDX	Difference
Sharpe ratio: Return per unit of total volatility	2.01	1.53	+0.48
Sortino ratio: Return per unit of downside risk	2.66	2.20	+0.46
Omega ratio: Gain probability vs. loss probability	1.34	1.27	+0.07
Calmar ratio: Return relative to maximum drawdown	3.44	2.58	+0.86
Martin ratio: Return relative to average drawdown	8.47	9.88	-1.41

WELL vs. FSMDX - Sharpe Ratio Comparison

The current WELL Sharpe Ratio is 2.01, which is higher than the FSMDX Sharpe Ratio of 1.53. The chart below compares the historical Sharpe Ratios of WELL and FSMDX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

WELL vs. FSMDX - Drawdown Comparison

The maximum WELL drawdown since its inception was -63.33%, which is greater than FSMDX's maximum drawdown of -40.35%. Use the drawdown chart below to compare losses from any high point for WELL and FSMDX.

Drawdown Indicators

	WELL	FSMDX	Difference
Max Drawdown Largest peak-to-trough decline	-63.33%	-40.35%	-22.98%
Max Drawdown (1Y) Largest decline over 1 year	-12.61%	-8.16%	-4.45%
Max Drawdown (3Y) Largest decline over 3 years	-12.99%	-20.92%	+7.93%
Max Drawdown (5Y) Largest decline over 5 years	-40.78%	-26.07%	-14.71%
Max Drawdown (10Y) Largest decline over 10 years	-63.33%	-40.35%	-22.98%
Current Drawdown Current decline from peak	-2.68%	-0.67%	-2.01%
Average Drawdown Average peak-to-trough decline	-10.31%	-4.95%	-5.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.11%	2.13%	+2.98%

Volatility

WELL vs. FSMDX - Volatility Comparison

Welltower Inc. (WELL) has a higher volatility of 9.54% compared to Fidelity Mid Cap Index Fund (FSMDX) at 4.48%. This indicates that WELL's price experiences larger fluctuations and is considered to be riskier than FSMDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WELL	FSMDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.54%	4.48%	+5.06%
Volatility (6M) Calculated over the trailing 6-month period	17.14%	10.46%	+6.68%
Volatility (1Y) Calculated over the trailing 1-year period	21.65%	13.80%	+7.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.82%	18.32%	+5.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.90%	19.34%	+12.56%

Dividends

WELL vs. FSMDX - Dividend Comparison

WELL's dividend yield for the trailing twelve months is around 1.38%, more than FSMDX's 0.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSMDX Fidelity Mid Cap Index Fund	0.98%	1.10%	2.46%	1.39%	2.07%	3.35%	2.34%	2.86%	2.21%	2.17%	2.23%	2.84%
WELL Welltower Inc.	1.38%	1.52%	2.03%	2.71%	3.72%	2.84%	4.18%	4.26%	5.01%	5.46%	5.14%	4.85%

Frequently Asked Questions

Can I hold both WELL and FSMDX in my portfolio?

WELL and FSMDX have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WELL or FSMDX?

WELL has higher volatility (9.54%) compared to FSMDX (4.48%). In terms of maximum drawdown, WELL dropped -63.33% vs FSMDX's -40.35%.

Which has better risk-adjusted returns?

WELL currently has the higher Sharpe Ratio (2.01 vs 1.53), 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.