DFSTX vs. FSSNX
DFSTX (DFA U.S. Small Cap Portfolio) and FSSNX (Fidelity Small Cap Index Fund) are both Small Cap Blend Equities funds. Over the past 10 years, DFSTX returned 11.18%/yr vs 11.46%/yr for FSSNX. With a 0.98 correlation, they move nearly in lockstep. DFSTX charges 0.27%/yr vs 0.03%/yr for FSSNX.
Performance
DFSTX vs. FSSNX - Performance Comparison
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Returns By Period
In the year-to-date period, DFSTX achieves a 16.82% return, which is significantly lower than FSSNX's 20.76% return. Both investments have delivered pretty close results over the past 10 years, with DFSTX having a 11.18% annualized return and FSSNX not far ahead at 11.46%.
DFSTX
- 1D
- 1.45%
- 1M
- 3.94%
- YTD
- 16.82%
- 6M
- 13.96%
- 1Y
- 31.88%
- 3Y*
- 15.95%
- 5Y*
- 9.43%
- 10Y*
- 11.18%
FSSNX
- 1D
- 2.10%
- 1M
- 3.98%
- YTD
- 20.76%
- 6M
- 17.19%
- 1Y
- 43.21%
- 3Y*
- 18.44%
- 5Y*
- 7.47%
- 10Y*
- 11.46%
DFSTX vs. FSSNX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DFSTX DFA U.S. Small Cap Portfolio | 16.82% | 8.07% | 11.50% | 17.66% | -13.50% | 30.50% | 11.19% | 21.78% | -13.20% | 11.19% |
FSSNX Fidelity Small Cap Index Fund | 20.76% | 12.94% | 11.71% | 17.11% | -20.28% | 14.70% | 19.99% | 25.70% | -11.24% | 14.54% |
Correlation
The correlation between DFSTX and FSSNX is 0.95, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.95 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Sep 9, 2011 | 0.98 |
The correlation between DFSTX and FSSNX has been stable across timeframes, ranging from 0.95 to 0.98 - a consistent structural relationship.
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Return for Risk
DFSTX vs. FSSNX — Risk / Return Rank
DFSTX
FSSNX
DFSTX vs. FSSNX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for DFA U.S. Small Cap Portfolio (DFSTX) and Fidelity Small Cap Index Fund (FSSNX). 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.
| DFSTX | FSSNX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.29 | ||
| Sortino ratioReturn per unit of downside risk | -0.23 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.36 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 3.51 | 3.92 | -0.41 |
| Martin ratioReturn relative to average drawdown | 11.94 | 13.88 | -1.94 |
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Drawdowns
DFSTX vs. FSSNX - Drawdown Comparison
The maximum DFSTX drawdown since its inception was -60.99%, which is greater than FSSNX's maximum drawdown of -41.72%. Use the drawdown chart below to compare losses from any high point for DFSTX and FSSNX.
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Drawdown Indicators
| DFSTX | FSSNX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.99% | -41.72% | -19.27% |
Max Drawdown (1Y)Largest decline over 1 year | -9.16% | -11.00% | +1.84% |
Max Drawdown (3Y)Largest decline over 3 years | -25.91% | -27.45% | +1.54% |
Max Drawdown (5Y)Largest decline over 5 years | -25.91% | -31.87% | +5.96% |
Max Drawdown (10Y)Largest decline over 10 years | -44.78% | -41.72% | -3.06% |
Current DrawdownCurrent decline from peak | -0.15% | 0.00% | -0.15% |
Average DrawdownAverage peak-to-trough decline | -8.76% | -8.27% | -0.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.68% | 3.10% | -0.42% |
Volatility
DFSTX vs. FSSNX - Volatility Comparison
The current volatility for DFA U.S. Small Cap Portfolio (DFSTX) is 4.95%, while Fidelity Small Cap Index Fund (FSSNX) has a volatility of 6.79%. This indicates that DFSTX experiences smaller price fluctuations and is considered to be less risky than FSSNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DFSTX | FSSNX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.95% | 6.79% | -1.84% |
Volatility (6M)Calculated over the trailing 6-month period | 11.94% | 14.37% | -2.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.97% | 19.71% | -2.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.58% | 22.68% | -2.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.10% | 23.50% | -1.40% |
DFSTX vs. FSSNX - Expense Ratio Comparison
DFSTX has a 0.27% expense ratio, which is higher than FSSNX's 0.03% 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
DFSTX vs. FSSNX - Dividend Comparison
DFSTX's dividend yield for the trailing twelve months is around 0.93%, more than FSSNX's 0.90% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DFSTX DFA U.S. Small Cap Portfolio | 0.93% | 1.08% | 1.05% | 2.45% | 5.18% | 6.39% | 1.08% | 3.30% | 5.16% | 4.56% | 3.10% | 5.90% |
FSSNX Fidelity Small Cap Index Fund | 0.90% | 1.08% | 1.04% | 1.43% | 1.26% | 3.92% | 0.94% | 2.96% | 4.94% | 3.37% | 2.27% | 2.66% |
Frequently Asked Questions
With a correlation of 0.95, DFSTX and FSSNX 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.
FSSNX has higher volatility (6.79%) compared to DFSTX (4.95%). In terms of maximum drawdown, DFSTX dropped -60.99% vs FSSNX's -41.72%.
FSSNX currently has the higher Sharpe Ratio (2.19 vs 1.90), 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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