FSSNX vs. TISBX

Last updated Jun 4, 2026

FSSNX (Fidelity Small Cap Index Fund) and TISBX (TIAA-CREF Small-Cap Blend Index Fund) are both Small Cap Blend Equities funds. Over the past 10 years, FSSNX returned 11.22%/yr vs 11.09%/yr for TISBX. With a 1.00 correlation, they move nearly in lockstep. FSSNX charges 0.03%/yr vs 0.05%/yr for TISBX.

Performance

FSSNX vs. TISBX - Performance Comparison

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

Returns By Period

The year-to-date returns for both stocks are quite close, with FSSNX having a 18.72% return and TISBX slightly lower at 18.69%. Both investments have delivered pretty close results over the past 10 years, with FSSNX having a 11.22% annualized return and TISBX not far behind at 11.09%.

FSSNX

• 1D: 0.91%
• 1M: 4.97%
• YTD: 18.72%
• 6M: 17.45%
• 1Y: 41.33%
• 3Y*: 18.75%
• 5Y*: 6.72%
• 10Y*: 11.22%

TISBX

• 1D: 0.92%
• 1M: 5.00%
• YTD: 18.69%
• 6M: 17.39%
• 1Y: 41.07%
• 3Y*: 18.65%
• 5Y*: 6.67%
• 10Y*: 11.09%

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

FSSNX vs. TISBX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FSSNX Fidelity Small Cap Index Fund	18.72%	12.94%	11.71%	17.11%	-20.28%	14.70%	19.99%	25.70%	-11.24%	14.54%
TISBX TIAA-CREF Small-Cap Blend Index Fund	18.69%	12.72%	11.60%	17.07%	-20.31%	14.85%	20.14%	25.61%	-10.99%	13.14%

Correlation

The correlation between FSSNX and TISBX 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 12, 2011	1.00

The correlation between FSSNX and TISBX has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.

Return for Risk

FSSNX vs. TISBX — Risk / Return Rank

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

FSSNX

FSSNX Risk / Return Rank: 64
FSSNX Sharpe Ratio Rank: 61
FSSNX Sortino Ratio Rank: 55
FSSNX Omega Ratio Rank: 47
FSSNX Calmar Ratio Rank: 85
FSSNX Martin Ratio Rank: 74

TISBX

TISBX Risk / Return Rank: 64
TISBX Sharpe Ratio Rank: 60
TISBX Sortino Ratio Rank: 55
TISBX Omega Ratio Rank: 47
TISBX Calmar Ratio Rank: 85
TISBX Martin Ratio Rank: 74

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. TISBX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Small Cap Index Fund (FSSNX) and TIAA-CREF Small-Cap Blend Index Fund (TISBX). 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	TISBX	Difference
Sharpe ratio Return per unit of total volatility	2.29	2.28	+0.01
Sortino ratio Return per unit of downside risk	3.14	3.12	+0.01
Omega ratio Gain probability vs. loss probability	1.37	1.37	0.00
Calmar ratio Return relative to maximum drawdown	3.98	3.99	-0.01
Martin ratio Return relative to average drawdown	14.13	14.14	0.00
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. TISBX - Sharpe Ratio Comparison

The current FSSNX Sharpe Ratio is 2.29, which is comparable to the TISBX Sharpe Ratio of 2.28. The chart below compares the historical Sharpe Ratios of FSSNX and TISBX, 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	TISBX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.29	2.28	+0.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.30	0.30	0.00
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.48	0.48	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	0.39	+0.15

Drawdowns

FSSNX vs. TISBX - Drawdown Comparison

The maximum FSSNX drawdown since its inception was -41.72%, smaller than the maximum TISBX drawdown of -56.50%. Use the drawdown chart below to compare losses from any high point for FSSNX and TISBX.

Drawdown Indicators

	FSSNX	TISBX	Difference
Max Drawdown Largest peak-to-trough decline	-41.72%	-56.50%	+14.78%
Max Drawdown (1Y) Largest decline over 1 year	-11.00%	-10.95%	-0.05%
Max Drawdown (3Y) Largest decline over 3 years	-27.45%	-27.44%	-0.01%
Max Drawdown (5Y) Largest decline over 5 years	-31.87%	-31.89%	+0.02%
Max Drawdown (10Y) Largest decline over 10 years	-41.72%	-41.69%	-0.03%
Current Drawdown Current decline from peak	-0.14%	-0.13%	-0.01%
Average Drawdown Average peak-to-trough decline	-8.29%	-9.69%	+1.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.09%	3.08%	+0.01%

Volatility

FSSNX vs. TISBX - Volatility Comparison

Fidelity Small Cap Index Fund (FSSNX) and TIAA-CREF Small-Cap Blend Index Fund (TISBX) have volatilities of 5.59% and 5.59%, 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

	FSSNX	TISBX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.59%	5.59%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	13.59%	13.58%	+0.01%
Volatility (1Y) Calculated over the trailing 1-year period	19.13%	19.16%	-0.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.58%	22.55%	+0.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.45%	23.44%	+0.01%

FSSNX vs. TISBX - Expense Ratio Comparison

FSSNX has a 0.03% expense ratio, which is lower than TISBX's 0.05% 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

FSSNX vs. TISBX - Dividend Comparison

FSSNX's dividend yield for the trailing twelve months is around 0.91%, less than TISBX's 3.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSSNX Fidelity Small Cap Index Fund	0.91%	1.08%	1.04%	1.43%	1.26%	3.92%	0.94%	2.96%	4.94%	3.37%	2.27%	2.66%
TISBX TIAA-CREF Small-Cap Blend Index Fund	3.47%	4.12%	6.82%	3.09%	1.97%	8.96%	2.65%	5.16%	9.29%	4.49%	4.03%	4.77%

Frequently Asked Questions

Can I hold both FSSNX and TISBX in my portfolio?

With a correlation of 1.00, FSSNX and TISBX 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, FSSNX or TISBX?

TISBX has higher volatility (5.59%) compared to FSSNX (5.59%). In terms of maximum drawdown, FSSNX dropped -41.72% vs TISBX's -56.50%.

Which has better risk-adjusted returns?

FSSNX currently has the higher Sharpe Ratio (2.29 vs 2.28), 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.