FSMAX or VXF — which is better?

FSMAX is the cheaper fund (0.035% vs 0.05% expense ratio). Over the last five years FSMAX returned more (+27.36% vs +27.28%, total return). Their portfolios overlap by about 87% of weight. FSMAX and VXF on the same index — a mutual fund priced once a day against an ETF traded all day: the fee, the tracking and the minimum.

How much do FSMAX and VXF overlap?

FSMAX and VXF overlap by about 87% of portfolio weight, sharing 1407 holdings (per each fund's latest SEC N-PORT filing, weights rolled forward to today).

Is ChartRow affiliated with any of these funds?

No. ChartRow is independent and not affiliated with, sponsored by, or endorsed by Fidelity, Vanguard. Comparisons are derived independently from public SEC filings and market data; not investment advice.

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FSMAX vs VXF (2026)

FSMAX

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VXF

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Fidelity Extended Market Index Fund and Vanguard Extended Market ETF side by side. FSMAX is the cheaper fund (0.035% vs 0.05% expense ratio). Over the last five years FSMAX returned more (+27.36% vs +27.28%, total return). Their portfolios overlap by about 87% of weight. Not investment advice.

Fund facts#

Data provided bySource: Twelve Data

Returns as of market close, Oct 30, 2026. The charts run through the Oct 30 close.

	FSMAX	VXF
Focus	US Stock Index Funds	Mid/Small Blend
Expense ratio	0.035%	0.05%
AUM	$40.1B	$29.5B
Distribution yield	—	1.06%
Holdings	3285	3302
1M total	-0.5%	-0.5%
YTD total	+11.0%	+11.0%
1Y total	+11.1%	+11.2%
3Y total	+79.2%	+79.3%
5Y total	+27.4%	+27.3%
10Y total	—	+200%
3Y total CAGR	+21.5%/yr	+21.5%/yr
5Y total CAGR	+5.0%/yr	+4.9%/yr
10Y total CAGR	—	+11.6%/yr
Issuer	Fidelity	Vanguard
Inception	—	2001-12-27

All returns are total returns (dividends reinvested), through the latest price during the session. CAGR = compound annual growth rate. '—' means the fund's history doesn't span the horizon. A mutual fund's AUM is its whole fund's, every share class together (its SEC filing); an ETF's is its own. Returns run to Oct 30, 2026, the last month-end, as fund companies report a mutual fund's: a fund that pays monthly books each month's income on its last business day, so a return to a later day would leave that month's income out.

Annualized returns (CAGR)#

Data provided bySource: Twelve Data

FSMAXVXF

+8.8%+8.9%+13.3%+13.3%+21.7%+21.7%+5.0%+4.9%+11.6%+11.6%+9.4%1Ysince 10/20/252Ysince 10/21/243Ysince 10/23/235Ysince 10/25/2110Ysince 10/24/1615Ysince 10/24/1120Ysince 10/23/06

0%+5%+10%+15%+20%+25%

Compound annual growth rate per holding period, total return, from weekly adjusted closes. Horizons a fund's history can't span show no bar; horizons no fund spans are omitted.

Performance, rebased#

Data provided bySource: Twelve Data

Total return, rebased to 0% · FSMAX vs VXF

−5%0%+5%+10%+15%+20%+25%2026FebMarAprMayJunJulAugSepOctNov

FSMAX+11.1%VXF+11.3%

Nov 12, 2026

FSMAX+11.1%

VXF+11.3%

Returns by year#

Data provided bySource: Twelve Data

Year	FSMAX	VXF
2017	—	+18.1%
2018	—	-9.3%
2019	—	+28.0%
2020	+32.2%	+32.4%
2021	+12.4%	+12.3%
2022	-26.4%	-26.5%
2023	+25.4%	+25.5%
2024	+17.0%	+16.9%
2025	+11.4%	+11.4%
2026 YTD	+11.0%	+11.0%

Total returns (dividends reinvested), calendar years.

Returns by year, charted#

FSMAXVXF

+18.1%-9.3%+28.0%+32.2%+32.4%+12.4%+12.3%-26.4%-26.5%+25.4%+25.5%+17.0%+16.9%+11.4%+11.4%+11.0%+11.0%2017201820192020202120222023202420252026 YTD

−30%−20%−10%0%+10%+20%+30%+40%

Holdings overlap#

FSMAX and VXF overlap by about 87% of portfolio weight — 1407 shared holdings out of 3285 in FSMAX and 3302 in VXF, from each fund's latest SEC filing (Aug 31, 2026 / Jun 30, 2026).

Only in FSMAX

ROKU INC (0.3%), AMERICAN HOMES 4 RENT (0.1%), MOOG INC (0.1%), CNH INDUSTRIAL NV (0.1%), CRINETICS PHARMACEUTICALS INC (0.1%) and 1873 more.

Only in VXF

Vanguard Cmt Funds-Vanguard Market Liquidity Fund (3.8%), FERG (0.6%), Roku Inc (0.2%), RDDT (0.2%), FormFactor Inc (0.1%) and 1890 more.

Top 10 holdings, side by side#

FSMAXVXF

0.0%3.8%1.3%1.2%1.2%1.2%1.1%1.0%0.8%0.8%0.6%0.6%0.0%0.6%0.6%0.5%0.5%0.4%0.4%0.4%Vanguard Cmt Funds-…SNOWNETSPCXLNGBEFERGNTRAMSTRRVMD

0%1%2%3%4%

Merged top 10 across the funds — each column is the holding's % of that fund.

Sector weights#

Sector	FSMAX	VXF
Technology	17.8%	16.9%
Consumer Discretionary	17.7%	16.6%
Industrials	15.6%	15.4%
Financials	14.2%	13.4%
Healthcare	13.2%	12.4%
Real Estate	4.8%	4.5%
Utilities	3.4%	3.2%
Energy	3.2%	2.9%
Consumer Staples	1.3%	1.2%
Materials	0.8%	0.8%
Communication Services	0.4%	0.6%
Not on ChartRow	7.6%	12.1%

Sector weights, charted#

FSMAXVXF

17.8%16.9%17.7%16.6%15.6%15.4%14.2%13.4%13.2%12.4%4.8%4.5%3.4%3.2%3.2%2.9%1.3%1.2%0.8%0.8%0.4%0.6%7.6%12.1%TechnologyConsumer Discretion…IndustrialsFinancialsHealthcareReal EstateUtilitiesEnergyConsumer StaplesMaterialsCommunication Servi…Not on ChartRow

0%5%10%15%20%

Estimated portfolio characteristics#

Data provided bySource: Twelve Data

	FSMAX	VXF
P/E (trailing)	—	—
P/B	2.7	2.7
Dividend yield	1.07%	1.07%
Earnings growth (TTM)	+26.8%	+29.3%

Weighted by each fund's filed holdings, over the members we track. Shown only when every fund's tracked coverage is high enough for the average to mean something.

Growth from any starting date#

Data provided bySource: Twelve Data

Hover to move the starting point — every fund rebases to 1× at that date, so the comparison holds from any entry point back to 2019 (the earliest date all 2 funds existed). Log scale, weekly total returns.

0.25×0.5×1×2×4×rebased: Jul 2019

FSMAX2.1×VXF2.1×

Rebase at

Hover anywhere to rebase every line to 1× at that date and compare growth from that point — or pick a year above, which is the same thing with an address. Log scale.

Fund flows#

Period	FSMAX	VXF
Aug 2026	−$938.8M	—
Jul 2026	−$1.6B	—
Jun 2026	−$1.1B	+$40.8M
May 2026	—	−$145.4M
Apr 2026	—	+$253.9M
Mar 2026	—	+$589.8M

Net creations minus redemptions, derived from consecutive SEC N-PORT filings. The form only exists since mid-2019.

Fund flows, charted#

FSMAXVXF

+$455.4M−$1.5B+$3.2B−$849.7M−$424.3M−$1.1B−$37.6B−$3.6B+$741.6M20192020202120222023202420252026 YTD

−$40B−$30B−$20B−$10B$0$10B

Methodology#

Returns are total returns (dividends reinvested) from daily adjusted closes. Holdings, overlap, sector weights and flows derive from each fund's public SEC filings (Form N-PORT), anchored on the latest filing and rolled forward daily by price moves. Overlap is the sum of the smaller weight across shared holdings. See each fund's full holdings: FSMAX holdings · VXF holdings. Past performance does not predict future returns; not investment advice.

FAQ#

FSMAX or VXF — which is better?: FSMAX is the cheaper fund (0.035% vs 0.05% expense ratio). Over the last five years FSMAX returned more (+27.36% vs +27.28%, total return). Their portfolios overlap by about 87% of weight. FSMAX and VXF on the same index — a mutual fund priced once a day against an ETF traded all day: the fee, the tracking and the minimum.
How much do FSMAX and VXF overlap?: FSMAX and VXF overlap by about 87% of portfolio weight, sharing 1407 holdings (per each fund's latest SEC N-PORT filing, weights rolled forward to today).
Is ChartRow affiliated with any of these funds?: No. ChartRow is independent and not affiliated with, sponsored by, or endorsed by Fidelity, Vanguard. Comparisons are derived independently from public SEC filings and market data; not investment advice.