FSSNX vs. SPY
Compare and contrast key facts about Fidelity Small Cap Index Fund (FSSNX) and State Street SPDR S&P 500 ETF (SPY).
FSSNX is managed by Fidelity. It was launched on Sep 8, 2011. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Performance
FSSNX vs. SPY - Performance Comparison
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FSSNX vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FSSNX Fidelity Small Cap Index Fund | -2.46% | 12.94% | 11.71% | 17.11% | -20.28% | 14.70% | 19.99% | 25.70% | -11.24% | 14.54% |
SPY State Street SPDR S&P 500 ETF | -4.37% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 18.33% | 31.22% | -4.57% | 21.71% |
Returns By Period
In the year-to-date period, FSSNX achieves a -2.46% return, which is significantly higher than SPY's -4.37% return. Over the past 10 years, FSSNX has underperformed SPY with an annualized return of 9.53%, while SPY has yielded a comparatively higher 13.98% annualized return.
FSSNX
- 1D
- -1.44%
- 1M
- -8.16%
- YTD
- -2.46%
- 6M
- -0.28%
- 1Y
- 21.68%
- 3Y*
- 11.92%
- 5Y*
- 3.17%
- 10Y*
- 9.53%
SPY
- 1D
- 2.91%
- 1M
- -4.94%
- YTD
- -4.37%
- 6M
- -1.82%
- 1Y
- 17.59%
- 3Y*
- 18.19%
- 5Y*
- 11.69%
- 10Y*
- 13.98%
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FSSNX vs. SPY - Expense Ratio Comparison
FSSNX has a 0.03% expense ratio, which is lower than SPY's 0.09% 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%.
Return for Risk
FSSNX vs. SPY — Risk / Return Rank
FSSNX
SPY
FSSNX vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Small Cap Index Fund (FSSNX) and State Street SPDR S&P 500 ETF (SPY). 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 | SPY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.92 | 0.93 | -0.01 |
Sortino ratioReturn per unit of downside risk | 1.41 | 1.45 | -0.05 |
Omega ratioGain probability vs. loss probability | 1.18 | 1.22 | -0.04 |
Calmar ratioReturn relative to maximum drawdown | 1.34 | 1.53 | -0.19 |
Martin ratioReturn relative to average drawdown | 5.05 | 7.30 | -2.25 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FSSNX | SPY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.92 | 0.93 | -0.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.14 | 0.69 | -0.55 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.41 | 0.78 | -0.37 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.48 | 0.56 | -0.08 |
Correlation
The correlation between FSSNX and SPY is 0.83, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
FSSNX vs. SPY - Dividend Comparison
FSSNX's dividend yield for the trailing twelve months is around 1.11%, less than SPY's 1.14% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSSNX Fidelity Small Cap Index Fund | 1.11% | 1.08% | 1.04% | 1.43% | 1.26% | 3.92% | 0.94% | 2.96% | 4.94% | 3.37% | 2.27% | 2.66% |
SPY State Street SPDR S&P 500 ETF | 1.14% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
Drawdowns
FSSNX vs. SPY - Drawdown Comparison
The maximum FSSNX drawdown since its inception was -41.72%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for FSSNX and SPY.
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Drawdown Indicators
| FSSNX | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.72% | -55.19% | +13.47% |
Max Drawdown (1Y)Largest decline over 1 year | -13.89% | -12.05% | -1.84% |
Max Drawdown (5Y)Largest decline over 5 years | -31.87% | -24.50% | -7.37% |
Max Drawdown (10Y)Largest decline over 10 years | -41.72% | -33.72% | -8.00% |
Current DrawdownCurrent decline from peak | -11.00% | -6.24% | -4.76% |
Average DrawdownAverage peak-to-trough decline | -8.37% | -9.09% | +0.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.68% | 2.52% | +1.16% |
Volatility
FSSNX vs. SPY - Volatility Comparison
Fidelity Small Cap Index Fund (FSSNX) has a higher volatility of 6.60% compared to State Street SPDR S&P 500 ETF (SPY) at 5.31%. This indicates that FSSNX's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FSSNX | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.60% | 5.31% | +1.29% |
Volatility (6M)Calculated over the trailing 6-month period | 14.12% | 9.47% | +4.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.11% | 19.05% | +4.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.56% | 17.06% | +5.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.38% | 17.92% | +5.46% |