FCFMX vs. FSKAX

Last updated Aug 4, 2026

FCFMX (Fidelity Series Total Market Index Fund) and FSKAX (Fidelity Total Market Index Fund) are both Large Cap Blend Equities funds from Fidelity. Over the past 5 years, FCFMX returned 11.83%/yr vs 11.76%/yr for FSKAX. Their 0.99 correlation means they have historically moved very closely together. FCFMX charges 0.00%/yr vs 0.01%/yr for FSKAX.

Performance

FCFMX vs. FSKAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Series Total Market Index Fund (FCFMX) and Fidelity Total Market Index Fund (FSKAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

As of year-to-date, both investments have demonstrated similar returns, with FCFMX at 10.51% and FSKAX at 10.51%.

FCFMX

• 1D: 0.57%
• 1M: -0.20%
• 6M: 8.22%
• YTD: 10.51%
• 1Y: 21.70%
• 3Y*: 19.09%
• 5Y*: 11.83%
• 10Y*: —
• ALL TIME*: 14.89%

FSKAX

• 1D: 0.58%
• 1M: -0.22%
• 6M: 8.21%
• YTD: 10.51%
• 1Y: 21.69%
• 3Y*: 18.95%
• 5Y*: 11.76%
• 10Y*: 14.59%
• ALL TIME*: 14.49%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FCFMX Fidelity Series Total Market Index Fund	$0.00	$0.00	$0.00
FSKAX Fidelity Total Market Index Fund	$0.00	$0.00	$0.00

FCFMX vs. FSKAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FCFMX Fidelity Series Total Market Index Fund	10.51%	17.43%	23.92%	26.15%	-19.53%	25.64%	20.81%	10.60%
FSKAX Fidelity Total Market Index Fund	10.51%	17.06%	23.89%	26.12%	-19.53%	25.66%	20.79%	11.21%

Correlation

The correlation between FCFMX and FSKAX is 1.00 - 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.	1.00
Correlation (3Y) Balances recent behavior with more history.	1.00
Correlation (5Y) Shows whether the relationship held over a longer period.	1.00
Correlation (All Time) Calculated using the full available price history since Apr 26, 2019	0.99

The correlation between FCFMX and FSKAX has been stable across timeframes, ranging from 0.99 to 1.00 - a consistent structural relationship.

Return for Risk

FCFMX vs. FSKAX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FCFMX

FCFMX Risk / Return Rank: 58
FCFMX Sharpe Ratio Rank: 54
FCFMX Sortino Ratio Rank: 50
FCFMX Omega Ratio Rank: 49
FCFMX Calmar Ratio Rank: 61
FCFMX Martin Ratio Rank: 74

FSKAX

FSKAX Risk / Return Rank: 58
FSKAX Sharpe Ratio Rank: 54
FSKAX Sortino Ratio Rank: 50
FSKAX Omega Ratio Rank: 50
FSKAX Calmar Ratio Rank: 62
FSKAX Martin Ratio Rank: 74

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FCFMX vs. FSKAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Series Total Market Index Fund (FCFMX) and Fidelity Total Market Index Fund (FSKAX). 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.

	FCFMX	FSKAX	Difference
Sharpe ratio: Return per unit of total volatility	1.50	1.50	0.00
Sortino ratio: Return per unit of downside risk	2.09	2.09	0.00
Omega ratio: Gain probability vs. loss probability	1.27	1.27	0.00
Calmar ratio: Return relative to maximum drawdown	2.22	2.22	+0.01
Martin ratio: Return relative to average drawdown	9.53	9.52	+0.02

FCFMX vs. FSKAX - Sharpe Ratio Comparison

The current FCFMX Sharpe Ratio is 1.50, which is comparable to the FSKAX Sharpe Ratio of 1.50. The chart below compares the historical Sharpe Ratios of FCFMX and FSKAX, 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

FCFMX vs. FSKAX - Drawdown Comparison

The maximum FCFMX drawdown since its inception was -34.99%, roughly equal to the maximum FSKAX drawdown of -35.01%. Use the drawdown chart below to compare losses from any high point for FCFMX and FSKAX.

Drawdown Indicators

	FCFMX	FSKAX	Difference
Max Drawdown Largest peak-to-trough decline	-34.99%	-35.01%	+0.02%
Max Drawdown (1Y) Largest decline over 1 year	-8.89%	-8.92%	+0.03%
Max Drawdown (3Y) Largest decline over 3 years	-19.41%	-19.43%	+0.02%
Max Drawdown (5Y) Largest decline over 5 years	-25.34%	-25.39%	+0.05%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.01%	—
Current Drawdown Current decline from peak	-1.41%	-1.40%	-0.01%
Average Drawdown Average peak-to-trough decline	-5.48%	-3.99%	-1.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.07%	2.08%	-0.01%

Volatility

FCFMX vs. FSKAX - Volatility Comparison

Fidelity Series Total Market Index Fund (FCFMX) and Fidelity Total Market Index Fund (FSKAX) have volatilities of 3.46% and 3.48%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCFMX	FSKAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.46%	3.48%	-0.02%
Volatility (6M) Calculated over the trailing 6-month period	10.33%	10.34%	-0.01%
Volatility (1Y) Calculated over the trailing 1-year period	13.21%	13.22%	-0.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.53%	17.51%	+0.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.29%	18.45%	+1.84%

FCFMX vs. FSKAX - Expense Ratio Comparison

FCFMX has a 0.00% expense ratio, which is lower than FSKAX's 0.02% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

FCFMX vs. FSKAX - Dividend Comparison

FCFMX's dividend yield for the trailing twelve months is around 1.02%, more than FSKAX's 0.95% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FCFMX Fidelity Series Total Market Index Fund	1.02%	1.41%	1.27%	1.45%	1.78%	1.56%	1.88%	1.35%	0.00%	0.00%	0.00%	0.00%
FSKAX Fidelity Total Market Index Fund	0.95%	1.01%	1.19%	1.41%	1.62%	1.15%	1.45%	1.94%	2.54%	2.07%	2.43%	0.82%

Frequently Asked Questions

Can I hold both FCFMX and FSKAX in my portfolio?

With a correlation of 1.00, FCFMX and FSKAX 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.

Which is riskier, FCFMX or FSKAX?

FSKAX has higher volatility (3.48%) compared to FCFMX (3.46%). In terms of maximum drawdown, FCFMX dropped -34.99% vs FSKAX's -35.01%.

Which has better risk-adjusted returns?

FCFMX currently has the higher Sharpe Ratio (1.50 vs 1.50), 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.