FSKAX vs. ITOT
FSKAX (Fidelity Total Market Index Fund) and ITOT (iShares Core S&P Total U.S. Stock Market ETF) are both Large Cap Blend Equities funds. Over the past 10 years, FSKAX returned 15.04%/yr vs 15.03%/yr for ITOT. With a 0.99 correlation, they move nearly in lockstep. FSKAX charges 0.01%/yr vs 0.03%/yr for ITOT.
Performance
FSKAX vs. ITOT - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with FSKAX having a 10.81% return and ITOT slightly lower at 10.73%. Both investments have delivered pretty close results over the past 10 years, with FSKAX having a 15.04% annualized return and ITOT not far behind at 15.03%.
FSKAX
- 1D
- 1.15%
- 1M
- 1.58%
- YTD
- 10.81%
- 6M
- 10.79%
- 1Y
- 27.31%
- 3Y*
- 20.73%
- 5Y*
- 12.91%
- 10Y*
- 15.04%
ITOT
- 1D
- 1.08%
- 1M
- 1.58%
- YTD
- 10.73%
- 6M
- 10.74%
- 1Y
- 27.23%
- 3Y*
- 20.65%
- 5Y*
- 12.87%
- 10Y*
- 15.03%
FSKAX vs. ITOT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FSKAX Fidelity Total Market Index Fund | 10.81% | 17.06% | 23.89% | 26.12% | -19.53% | 25.66% | 20.79% | 30.92% | -5.32% | 20.85% |
ITOT iShares Core S&P Total U.S. Stock Market ETF | 10.73% | 17.00% | 23.80% | 26.12% | -19.47% | 25.68% | 20.71% | 30.67% | -5.33% | 21.37% |
Correlation
The correlation between FSKAX and ITOT is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 1.00 |
Correlation (3Y) Calculated over the trailing 3-year period | 1.00 |
Correlation (5Y) Calculated over the trailing 5-year period | 1.00 |
Correlation (10Y) Calculated over the trailing 10-year period | 1.00 |
Correlation (All Time) Calculated using the full available price history since Sep 8, 2011 | 0.99 |
The correlation between FSKAX and ITOT has been stable across timeframes, ranging from 0.99 to 1.00 - a consistent structural relationship.
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Return for Risk
FSKAX vs. ITOT — Risk / Return Rank
FSKAX
ITOT
FSKAX vs. ITOT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Total Market Index Fund (FSKAX) and iShares Core S&P Total U.S. Stock Market ETF (ITOT). 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 | ITOT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | -0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.38 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 3.08 | 3.07 | 0.00 |
| Martin ratioReturn relative to average drawdown | 13.71 | 13.70 | +0.02 |
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Drawdowns
FSKAX vs. ITOT - Drawdown Comparison
The maximum FSKAX drawdown since its inception was -35.01%, smaller than the maximum ITOT drawdown of -55.20%. Use the drawdown chart below to compare losses from any high point for FSKAX and ITOT.
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Drawdown Indicators
| FSKAX | ITOT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.01% | -55.20% | +20.19% |
Max Drawdown (1Y)Largest decline over 1 year | -8.92% | -8.90% | -0.02% |
Max Drawdown (3Y)Largest decline over 3 years | -19.43% | -19.44% | +0.01% |
Max Drawdown (5Y)Largest decline over 5 years | -25.39% | -25.36% | -0.03% |
Max Drawdown (10Y)Largest decline over 10 years | -35.01% | -35.00% | -0.01% |
Current DrawdownCurrent decline from peak | -1.14% | -1.19% | +0.05% |
Average DrawdownAverage peak-to-trough decline | -4.01% | -6.96% | +2.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.00% | 1.99% | +0.01% |
Volatility
FSKAX vs. ITOT - Volatility Comparison
Fidelity Total Market Index Fund (FSKAX) and iShares Core S&P Total U.S. Stock Market ETF (ITOT) have volatilities of 4.91% and 4.87%, 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.
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Volatility by Period
| FSKAX | ITOT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.91% | 4.87% | +0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 10.16% | 10.04% | +0.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.88% | 12.78% | +0.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.51% | 17.45% | +0.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.50% | 18.31% | +0.19% |
FSKAX vs. ITOT - Expense Ratio Comparison
FSKAX has a 0.02% expense ratio, which is lower than ITOT's 0.03% 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
FSKAX vs. ITOT - Dividend Comparison
FSKAX's dividend yield for the trailing twelve months is around 0.94%, less than ITOT's 1.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSKAX Fidelity Total Market Index Fund | 0.94% | 1.01% | 1.19% | 1.41% | 1.62% | 1.15% | 1.45% | 1.94% | 2.54% | 2.07% | 2.43% | 0.82% |
ITOT iShares Core S&P Total U.S. Stock Market ETF | 1.00% | 1.11% | 1.23% | 1.47% | 1.66% | 1.18% | 1.41% | 1.88% | 2.14% | 1.69% | 1.83% | 2.01% |
Frequently Asked Questions
With a correlation of 1.00, FSKAX and ITOT 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.
FSKAX has higher volatility (4.91%) compared to ITOT (4.87%). In terms of maximum drawdown, FSKAX dropped -35.01% vs ITOT's -55.20%.
ITOT currently has the higher Sharpe Ratio (2.14 vs 2.13), 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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