FSSNX vs. BRK-B

Last updated Jun 9, 2026

FSSNX (Fidelity Small Cap Index Fund) is Small Cap Blend Equities fund tracking the Russell 2000 Index, while BRK-B (Berkshire Hathaway Inc.) is a stock. Over the past 10 years, FSSNX returned 10.69%/yr vs 13.14%/yr for BRK-B. A 0.59 correlation means they provide meaningful diversification when combined.

Performance

FSSNX vs. BRK-B - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Small Cap Index Fund (FSSNX) and Berkshire Hathaway Inc. (BRK-B). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FSSNX achieves a 14.74% return, which is significantly higher than BRK-B's -3.11% return. Over the past 10 years, FSSNX has underperformed BRK-B with an annualized return of 10.69%, while BRK-B has yielded a comparatively higher 13.14% annualized return.

FSSNX

• 1D: -3.48%
• 1M: -0.87%
• YTD: 14.74%
• 6M: 13.12%
• 1Y: 34.70%
• 3Y*: 16.90%
• 5Y*: 5.93%
• 10Y*: 10.69%

BRK-B

• 1D: -0.23%
• 1M: 2.32%
• YTD: -3.11%
• 6M: -2.06%
• 1Y: -1.32%
• 3Y*: 13.25%
• 5Y*: 11.03%
• 10Y*: 13.14%

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

FSSNX vs. BRK-B - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FSSNX Fidelity Small Cap Index Fund	14.74%	12.94%	11.71%	17.11%	-20.28%	14.70%	19.99%	25.70%	-11.24%	14.54%
BRK-B Berkshire Hathaway Inc.	-3.11%	10.89%	27.09%	15.46%	3.31%	28.95%	2.37%	10.93%	3.01%	21.62%

Correlation

The correlation between FSSNX and BRK-B is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.15
Correlation (3Y) Calculated over the trailing 3-year period	0.35
Correlation (5Y) Calculated over the trailing 5-year period	0.48
Correlation (10Y) Calculated over the trailing 10-year period	0.54
Correlation (All Time) Calculated using the full available price history since Sep 9, 2011	0.59

Over the past year, the correlation between FSSNX and BRK-B has dropped to 0.15 - well below their long-term average of 0.59, suggesting their price drivers have been diverging.

Return for Risk

FSSNX vs. BRK-B — Risk / Return Rank

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

FSSNX

FSSNX Risk / Return Rank: 53
FSSNX Sharpe Ratio Rank: 45
FSSNX Sortino Ratio Rank: 42
FSSNX Omega Ratio Rank: 38
FSSNX Calmar Ratio Rank: 77
FSSNX Martin Ratio Rank: 63

BRK-B

BRK-B Risk / Return Rank: 35
BRK-B Sharpe Ratio Rank: 38
BRK-B Sortino Ratio Rank: 30
BRK-B Omega Ratio Rank: 30
BRK-B Calmar Ratio Rank: 38
BRK-B Martin Ratio Rank: 37

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.

FSSNX vs. BRK-B - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Small Cap Index Fund (FSSNX) and Berkshire Hathaway Inc. (BRK-B). 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.

	FSSNX	BRK-B	Difference
Sharpe ratio: Return per unit of total volatility	1.90	-0.09	+2.00
Sortino ratio: Return per unit of downside risk	2.63	-0.03	+2.66
Omega ratio: Gain probability vs. loss probability	1.31	1.00	+0.32
Calmar ratio: Return relative to maximum drawdown	3.38	-0.14	+3.52
Martin ratio: Return relative to average drawdown	11.95	-0.30	+12.25
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FSSNX vs. BRK-B - Sharpe Ratio Comparison

The current FSSNX Sharpe Ratio is 1.90, which is higher than the BRK-B Sharpe Ratio of -0.09. The chart below compares the historical Sharpe Ratios of FSSNX and BRK-B, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FSSNX	BRK-B	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.90	-0.09	+2.00
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.26	0.65	-0.38
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.46	0.68	-0.22
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	0.48	+0.04

Drawdowns

FSSNX vs. BRK-B - Drawdown Comparison

The maximum FSSNX drawdown since its inception was -41.72%, smaller than the maximum BRK-B drawdown of -53.86%. Use the drawdown chart below to compare losses from any high point for FSSNX and BRK-B.

Drawdown Indicators

	FSSNX	BRK-B	Difference
Max Drawdown Largest peak-to-trough decline	-41.72%	-53.86%	+12.14%
Max Drawdown (1Y) Largest decline over 1 year	-11.00%	-9.42%	-1.58%
Max Drawdown (3Y) Largest decline over 3 years	-27.45%	-14.95%	-12.50%
Max Drawdown (5Y) Largest decline over 5 years	-31.87%	-26.58%	-5.29%
Max Drawdown (10Y) Largest decline over 10 years	-41.72%	-29.57%	-12.15%
Current Drawdown Current decline from peak	-3.48%	-9.78%	+6.30%
Average Drawdown Average peak-to-trough decline	-8.29%	-11.07%	+2.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.10%	4.49%	-1.39%

Volatility

FSSNX vs. BRK-B - Volatility Comparison

Fidelity Small Cap Index Fund (FSSNX) has a higher volatility of 6.59% compared to Berkshire Hathaway Inc. (BRK-B) at 3.98%. This indicates that FSSNX's price experiences larger fluctuations and is considered to be riskier than BRK-B based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSSNX	BRK-B	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.59%	3.98%	+2.61%
Volatility (6M) Calculated over the trailing 6-month period	14.03%	10.87%	+3.16%
Volatility (1Y) Calculated over the trailing 1-year period	19.52%	14.38%	+5.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.64%	17.13%	+5.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.47%	19.44%	+4.03%

Dividends

FSSNX vs. BRK-B - Dividend Comparison

FSSNX's dividend yield for the trailing twelve months is around 0.94%, while BRK-B has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BRK-B Berkshire Hathaway Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FSSNX Fidelity Small Cap Index Fund	0.94%	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

Can I hold both FSSNX and BRK-B in my portfolio?

FSSNX and BRK-B have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FSSNX or BRK-B?

FSSNX has higher volatility (6.59%) compared to BRK-B (3.98%). In terms of maximum drawdown, FSSNX dropped -41.72% vs BRK-B's -53.86%.

Which has better risk-adjusted returns?

FSSNX currently has the higher Sharpe Ratio (1.90 vs -0.09), 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.