FSST vs. FXAIX

Last updated Jun 4, 2026

FSST (Fidelity Sustainability U.S. Equity ETF) and FXAIX (Fidelity 500 Index Fund) are both funds - FSST is a Sustainable fund tracking the Russell 3000, while FXAIX is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Their correlation of 0.91 suggests significant overlap in exposure. FSST charges 0.59%/yr vs 0.02%/yr for FXAIX.

Performance

FSST vs. FXAIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Sustainability U.S. Equity ETF (FSST) and Fidelity 500 Index Fund (FXAIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FSST

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

FXAIX

• 1D: 0.13%
• 1M: 5.80%
• YTD: 11.71%
• 6M: 11.74%
• 1Y: 28.99%
• 3Y*: 22.75%
• 5Y*: 14.28%
• 10Y*: 15.66%

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

FSST vs. FXAIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
FSST Fidelity Sustainability U.S. Equity ETF	0.00%	15.40%	21.40%	25.49%	-18.30%	12.81%
FXAIX Fidelity 500 Index Fund	11.71%	17.84%	25.01%	26.29%	-18.14%	13.71%

Correlation

The correlation between FSST and FXAIX is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.52
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (All Time) Calculated using the full available price history since Jun 18, 2021	0.91

Over the past year, the correlation between FSST and FXAIX has dropped to 0.52 - well below their long-term average of 0.91, suggesting their price drivers have been diverging.

Return for Risk

FSST vs. FXAIX — Risk / Return Rank

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

FXAIX

FXAIX Risk / Return Rank: 73
FXAIX Sharpe Ratio Rank: 76
FXAIX Sortino Ratio Rank: 67
FXAIX Omega Ratio Rank: 67
FXAIX Calmar Ratio Rank: 74
FXAIX Martin Ratio Rank: 83

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.

FSST vs. FXAIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Sustainability U.S. Equity ETF (FSST) and Fidelity 500 Index Fund (FXAIX). 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.

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

Sharpe Ratios by Period

	FSST	FXAIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.52	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.85	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.87	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.82	—

Drawdowns

Drawdown Indicators

	FSST	FXAIX	Difference
Max Drawdown Largest peak-to-trough decline	—	-33.79%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-8.89%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-18.76%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-24.50%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.79%	—
Current Drawdown Current decline from peak	—	0.00%	—
Average Drawdown Average peak-to-trough decline	—	-3.79%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.90%	—

Volatility

Volatility by Period

	FSST	FXAIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.83%	—
Volatility (6M) Calculated over the trailing 6-month period	—	8.97%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	11.86%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	16.91%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	18.07%	—

FSST vs. FXAIX - Expense Ratio Comparison

FSST has a 0.59% expense ratio, which is higher than FXAIX's 0.02% expense ratio.

Dividends

FSST vs. FXAIX - Dividend Comparison

FSST's dividend yield for the trailing twelve months is around 0.14%, less than FXAIX's 1.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSST Fidelity Sustainability U.S. Equity ETF	0.14%	0.19%	2.01%	0.68%	1.00%	0.34%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FXAIX Fidelity 500 Index Fund	1.03%	1.11%	1.25%	1.45%	1.69%	1.22%	1.60%	2.06%	2.72%	1.97%	2.52%	2.83%

Frequently Asked Questions

Can I hold both FSST and FXAIX in my portfolio?

FSST and FXAIX have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.