FSMDX or IWR — which is better?

FSMDX is the cheaper fund (0.025% vs 0.18% expense ratio). Over the last five years FSMDX returned more (+43.38% vs +42.10%, total return). Their portfolios overlap by about 97% of weight. FSMDX and IWR 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 FSMDX and IWR overlap?

FSMDX and IWR overlap by about 97% of portfolio weight, sharing 785 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, iShares. Comparisons are derived independently from public SEC filings and market data; not investment advice.

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FSMDX vs IWR (2026)

FSMDX

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IWR

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Fidelity Mid Cap Index Fund and iShares Russell Midcap ETF side by side. FSMDX is the cheaper fund (0.025% vs 0.18% expense ratio). Over the last five years FSMDX returned more (+43.38% vs +42.10%, total return). Their portfolios overlap by about 97% 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.

	FSMDX	IWR
Focus	US Stock Index Funds	Mid Blend
Expense ratio	0.025%	0.18%
AUM	$52.1B	$57B
Distribution yield	—	1.15%
Holdings	811	813
1M total	+3.2%	+3.1%
YTD total	+15.4%	+15.2%
1Y total	+17.4%	+17.2%
3Y total	+76.3%	+75.5%
5Y total	+43.4%	+42.1%
10Y total	—	+203%
3Y total CAGR	+20.8%/yr	+20.6%/yr
5Y total CAGR	+7.5%/yr	+7.3%/yr
10Y total CAGR	—	+11.7%/yr
Issuer	Fidelity	iShares
Inception	—	2001-07-17

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

FSMDXIWR

+14.6%+14.4%+13.1%+13.0%+21.0%+20.8%+7.5%+7.3%+11.7%+11.9%+9.5%+10.4%1Ysince 10/20/252Ysince 10/21/243Ysince 10/23/235Ysince 10/25/2110Ysince 10/24/1615Ysince 10/24/1120Ysince 10/23/0625Ysince 10/22/01

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% · FSMDX vs IWR

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

FSMDX+15.9%IWR+15.8%

Nov 12, 2026

FSMDX+15.9%

IWR+15.8%

Returns by year#

Data provided bySource: Twelve Data

Year	FSMDX	IWR
2017	—	+18.3%
2018	—	-9.1%
2019	—	+30.2%
2020	+17.0%	+16.9%
2021	+22.6%	+22.4%
2022	-17.3%	-17.5%
2023	+17.2%	+17.0%
2024	+15.4%	+15.2%
2025	+10.6%	+10.4%
2026 YTD	+15.4%	+15.2%

Total returns (dividends reinvested), calendar years.

Returns by year, charted#

FSMDXIWR

+18.3%-9.1%+30.2%+17.0%+16.9%+22.6%+22.4%-17.3%-17.5%+17.2%+17.0%+15.4%+15.2%+10.6%+10.4%+15.4%+15.2%2017201820192020202120222023202420252026 YTD

−20%−10%0%+10%+20%+30%+40%

Holdings overlap#

FSMDX and IWR overlap by about 97% of portfolio weight — 785 shared holdings out of 811 in FSMDX and 813 in IWR, from each fund's latest SEC filing (Jul 31, 2026 / Jun 30, 2026).

Only in FSMDX

WARNER BROS DISCOVERY INC (0.5%), ELECTRONIC ARTS INC (0.4%), KENVUE INC (0.3%), AVALONBAY COMMUNITIES INC (0.2%), STERIS PL (0.2%) and 21 more.

Only in IWR

Warner Bros Discovery, Inc. (0.5%), Electronic Arts, Inc. (0.4%), Kenvue, Inc. (0.3%), AvalonBay Communities, Inc. (0.2%), STE (0.2%) and 23 more.

Top 10 holdings, side by side#

FSMDXIWR

0.9%0.9%0.8%0.8%0.7%0.7%0.7%0.7%0.6%0.6%0.6%0.6%0.5%0.5%0.5%0.5%0.5%0.5%0.5%0.5%MPCPSXSNOWNETRCLMRNASPGURIALLCOR

0%0.2%0.4%0.6%0.8%1.0%

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

Sector weights#

Sector	FSMDX	IWR
Industrials	15.4%	15.4%
Technology	14.7%	14.8%
Financials	14.2%	14.2%
Healthcare	12.5%	12.6%
Consumer Discretionary	12.2%	12.3%
Utilities	6.4%	6.4%
Real Estate	6.3%	6.3%
Energy	6.1%	6.0%
Consumer Staples	4.2%	4.2%
Materials	3.7%	3.9%
Communication Services	1.4%	1.4%
Not on ChartRow	2.7%	2.5%

Sector weights, charted#

FSMDXIWR

15.4%15.4%14.7%14.8%14.2%14.2%12.5%12.6%12.2%12.3%6.4%6.4%6.3%6.3%6.1%6.0%4.2%4.2%3.7%3.9%1.4%1.4%2.7%2.5%IndustrialsTechnologyFinancialsHealthcareConsumer Discretion…UtilitiesReal EstateEnergyConsumer StaplesMaterialsCommunication Servi…Not on ChartRow

0%5%10%15%20%

Estimated portfolio characteristics#

Data provided bySource: Twelve Data

	FSMDX	IWR
P/E (trailing)	—	—
P/B	2.9	2.9
Dividend yield	1.47%	1.46%
Earnings growth (TTM)	+24.5%	+25.3%

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

FSMDX2.2×IWR2.1×

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	FSMDX	IWR
Jul 2026	−$813.1M	—
Jun 2026	+$89.1M	+$589.1M
May 2026	+$62.6M	+$671M
Apr 2026	—	+$839.9M
Mar 2026	—	+$1.4B
Feb 2026	—	+$342.6M

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

Fund flows, charted#

FSMDXIWR

−$352.2M−$7.7M+$1.4B+$1.6B−$283.3M+$3B+$4.3B−$661.5M+$3.5B20192020202120222023202420252026 YTD

−$1B$0$1B$2B$3B$4B$5B

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: FSMDX holdings · IWR holdings. Past performance does not predict future returns; not investment advice.

FAQ#

FSMDX or IWR — which is better?: FSMDX is the cheaper fund (0.025% vs 0.18% expense ratio). Over the last five years FSMDX returned more (+43.38% vs +42.10%, total return). Their portfolios overlap by about 97% of weight. FSMDX and IWR 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 FSMDX and IWR overlap?: FSMDX and IWR overlap by about 97% of portfolio weight, sharing 785 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, iShares. Comparisons are derived independently from public SEC filings and market data; not investment advice.