FSKAX vs. FSST

Last updated Jun 25, 2026

FSKAX (Fidelity Total Market Index Fund) and FSST (Fidelity Sustainability U.S. Equity ETF) are both funds - FSKAX is a Large Cap Blend Equities fund managed by Fidelity, while FSST is a Sustainable fund tracking the Russell 3000. Their correlation of 0.90 suggests significant overlap in exposure. FSKAX charges 0.01%/yr vs 0.59%/yr for FSST.

Performance

FSKAX vs. FSST - Performance Comparison

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

Returns By Period

FSKAX

• 1D: -1.36%
• 1M: -0.81%
• YTD: 8.93%
• 6M: 7.46%
• 1Y: 22.81%
• 3Y*: 20.69%
• 5Y*: 11.94%
• 10Y*: 15.11%

FSST

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FSKAX vs. FSST - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
FSKAX Fidelity Total Market Index Fund	8.93%	17.06%	23.89%	26.12%	-19.53%	10.97%
FSST Fidelity Sustainability U.S. Equity ETF	0.00%	15.40%	21.40%	25.49%	-18.30%	12.52%

Correlation

The correlation between FSKAX and FSST is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.46
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (All Time) Calculated using the full available price history since Jun 17, 2021	0.90

Over the past year, the correlation between FSKAX and FSST has dropped to 0.46 - well below their long-term average of 0.90, suggesting their price drivers have been diverging.

Return for Risk

FSKAX vs. FSST — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FSKAX

FSKAX Risk / Return Rank: 52
FSKAX Sharpe Ratio Rank: 48
FSKAX Sortino Ratio Rank: 44
FSKAX Omega Ratio Rank: 45
FSKAX Calmar Ratio Rank: 55
FSKAX Martin Ratio Rank: 66

FSST

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FSKAX vs. FSST - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Total Market Index Fund (FSKAX) and Fidelity Sustainability U.S. Equity ETF (FSST). 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.

	FSKAX	FSST	Difference
Sharpe ratio: Return per unit of total volatility	1.88	—	—
Sortino ratio: Return per unit of downside risk	2.57	—	—
Omega ratio: Gain probability vs. loss probability	1.34	—	—
Calmar ratio: Return relative to maximum drawdown	2.73	—	—
Martin ratio: Return relative to average drawdown	12.11	—	—

Drawdowns

Drawdown Indicators

	FSKAX	FSST	Difference
Max Drawdown Largest peak-to-trough decline	-35.01%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-8.92%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-19.43%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-25.39%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-35.01%	—	—
Current Drawdown Current decline from peak	-2.82%	—	—
Average Drawdown Average peak-to-trough decline	-4.01%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	2.01%	—	—

Volatility

Volatility by Period

	FSKAX	FSST	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.00%	—	—
Volatility (6M) Calculated over the trailing 6-month period	10.18%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	12.96%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.52%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.47%	—	—

FSKAX vs. FSST - Expense Ratio Comparison

FSKAX has a 0.02% expense ratio, which is lower than FSST's 0.59% expense ratio.

Dividends

FSKAX vs. FSST - Dividend Comparison

FSKAX's dividend yield for the trailing twelve months is around 0.96%, while FSST has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSKAX Fidelity Total Market Index Fund	0.96%	1.01%	1.19%	1.41%	1.62%	1.15%	1.45%	1.94%	2.54%	2.07%	2.43%	0.82%
FSST Fidelity Sustainability U.S. Equity ETF	0.10%	0.19%	2.01%	0.68%	1.00%	0.34%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FSKAX and FSST in my portfolio?

FSKAX and FSST have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.