FISVX vs. VSIIX

Last updated Aug 4, 2026

FISVX (Fidelity Small Cap Value Index Fund) and VSIIX (Vanguard Small-Cap Value Index Fund Institutional Shares) are both Small Cap Value Equities funds. Over the past 5 years, FISVX returned 9.10%/yr vs 9.75%/yr for VSIIX. Their 0.97 correlation means they have historically moved very closely together. FISVX charges 0.05%/yr vs 0.06%/yr for VSIIX.

Performance

FISVX vs. VSIIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Small Cap Value Index Fund (FISVX) and Vanguard Small-Cap Value Index Fund Institutional Shares (VSIIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FISVX achieves a 22.94% return, which is significantly higher than VSIIX's 16.66% return.

FISVX

• 1D: -0.29%
• 1M: 0.03%
• 6M: 13.82%
• YTD: 22.94%
• 1Y: 43.55%
• 3Y*: 16.07%
• 5Y*: 9.10%
• 10Y*: —
• ALL TIME*: 11.56%

VSIIX

• 1D: -0.19%
• 1M: 0.56%
• 6M: 9.86%
• YTD: 16.66%
• 1Y: 27.67%
• 3Y*: 14.40%
• 5Y*: 9.75%
• 10Y*: 10.75%
• ALL TIME*: 10.10%

*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)
FISVX Fidelity Small Cap Value Index Fund	$0.00	$0.00	$0.00
VSIIX Vanguard Small-Cap Value Index Fund Institutional Shares	$0.00	$0.00	$0.00

FISVX vs. VSIIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FISVX Fidelity Small Cap Value Index Fund	22.94%	12.70%	8.16%	14.72%	-14.42%	28.26%	4.49%	9.54%
VSIIX Vanguard Small-Cap Value Index Fund Institutional Shares	16.66%	9.10%	11.37%	17.06%	-9.31%	28.12%	5.81%	6.04%

Correlation

The correlation between FISVX and VSIIX is 0.94, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.94
Correlation (3Y) Balances recent behavior with more history.	0.95
Correlation (5Y) Shows whether the relationship held over a longer period.	0.97
Correlation (All Time) Calculated using the full available price history since Jul 17, 2019	0.97

The correlation between FISVX and VSIIX has been stable across timeframes, ranging from 0.94 to 0.97 - a consistent structural relationship.

Return for Risk

FISVX vs. VSIIX — Risk / Return Rank

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

FISVX

FISVX Risk / Return Rank: 91
FISVX Sharpe Ratio Rank: 91
FISVX Sortino Ratio Rank: 89
FISVX Omega Ratio Rank: 83
FISVX Calmar Ratio Rank: 96
FISVX Martin Ratio Rank: 96

VSIIX

VSIIX Risk / Return Rank: 76
VSIIX Sharpe Ratio Rank: 72
VSIIX Sortino Ratio Rank: 74
VSIIX Omega Ratio Rank: 66
VSIIX Calmar Ratio Rank: 83
VSIIX Martin Ratio Rank: 83

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.

FISVX vs. VSIIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Small Cap Value Index Fund (FISVX) and Vanguard Small-Cap Value Index Fund Institutional Shares (VSIIX). 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.

	FISVX	VSIIX	Difference
Sharpe ratio: Return per unit of total volatility	2.32	1.74	+0.58
Sortino ratio: Return per unit of downside risk	3.31	2.57	+0.73
Omega ratio: Gain probability vs. loss probability	1.40	1.31	+0.10
Calmar ratio: Return relative to maximum drawdown	4.76	2.91	+1.85
Martin ratio: Return relative to average drawdown	17.26	10.70	+6.56

FISVX vs. VSIIX - Sharpe Ratio Comparison

The current FISVX Sharpe Ratio is 2.32, which is higher than the VSIIX Sharpe Ratio of 1.74. The chart below compares the historical Sharpe Ratios of FISVX and VSIIX, 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

FISVX vs. VSIIX - Drawdown Comparison

The maximum FISVX drawdown since its inception was -44.66%, smaller than the maximum VSIIX drawdown of -62.05%. Use the drawdown chart below to compare losses from any high point for FISVX and VSIIX.

Drawdown Indicators

	FISVX	VSIIX	Difference
Max Drawdown Largest peak-to-trough decline	-44.66%	-62.05%	+17.39%
Max Drawdown (1Y) Largest decline over 1 year	-8.54%	-8.87%	+0.33%
Max Drawdown (3Y) Largest decline over 3 years	-26.50%	-24.09%	-2.41%
Max Drawdown (5Y) Largest decline over 5 years	-26.50%	-24.09%	-2.41%
Max Drawdown (10Y) Largest decline over 10 years	—	-45.38%	—
Current Drawdown Current decline from peak	-1.25%	-1.41%	+0.16%
Average Drawdown Average peak-to-trough decline	-10.11%	-8.47%	-1.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.36%	2.41%	-0.05%

Volatility

FISVX vs. VSIIX - Volatility Comparison

Fidelity Small Cap Value Index Fund (FISVX) and Vanguard Small-Cap Value Index Fund Institutional Shares (VSIIX) have volatilities of 3.17% and 3.33%, 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

	FISVX	VSIIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.17%	3.33%	-0.16%
Volatility (6M) Calculated over the trailing 6-month period	11.99%	10.26%	+1.73%
Volatility (1Y) Calculated over the trailing 1-year period	17.56%	14.92%	+2.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.51%	19.56%	+1.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.51%	21.75%	+4.76%

FISVX vs. VSIIX - Expense Ratio Comparison

FISVX has a 0.05% expense ratio, which is lower than VSIIX's 0.06% 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

FISVX vs. VSIIX - Dividend Comparison

FISVX's dividend yield for the trailing twelve months is around 1.77%, which matches VSIIX's 1.77% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FISVX Fidelity Small Cap Value Index Fund	1.77%	2.18%	1.70%	2.06%	3.69%	9.55%	1.33%	0.62%	0.00%	0.00%	0.00%	0.00%
VSIIX Vanguard Small-Cap Value Index Fund Institutional Shares	1.77%	1.96%	1.99%	2.10%	2.04%	1.76%	1.69%	2.07%	2.36%	1.80%	1.77%	1.99%

Frequently Asked Questions

Can I hold both FISVX and VSIIX in my portfolio?

With a correlation of 0.94, FISVX and VSIIX 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, FISVX or VSIIX?

VSIIX has higher volatility (3.33%) compared to FISVX (3.17%). In terms of maximum drawdown, FISVX dropped -44.66% vs VSIIX's -62.05%.

Which has better risk-adjusted returns?

FISVX currently has the higher Sharpe Ratio (2.32 vs 1.74), 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.