SPUSX vs. FSKAX

Last updated Jun 24, 2026

SPUSX (Symmetry Panoramic US Equity Fund) and FSKAX (Fidelity Total Market Index Fund) are both Large Cap Blend Equities funds. Over the past 5 years, SPUSX returned 11.75%/yr vs 12.40%/yr for FSKAX. Their correlation of 0.92 suggests significant overlap in exposure. SPUSX charges 0.64%/yr vs 0.01%/yr for FSKAX.

Performance

SPUSX vs. FSKAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Symmetry Panoramic US Equity Fund (SPUSX) and Fidelity Total Market Index Fund (FSKAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPUSX achieves a 13.35% return, which is significantly higher than FSKAX's 10.43% return.

SPUSX

• 1D: 0.29%
• 1M: 2.73%
• YTD: 13.35%
• 6M: 12.03%
• 1Y: 25.37%
• 3Y*: 19.96%
• 5Y*: 11.75%
• 10Y*: —

FSKAX

• 1D: -0.34%
• 1M: 0.56%
• YTD: 10.43%
• 6M: 9.28%
• 1Y: 25.95%
• 3Y*: 21.24%
• 5Y*: 12.40%
• 10Y*: 15.27%

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

SPUSX vs. FSKAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
SPUSX Symmetry Panoramic US Equity Fund	13.35%	13.14%	17.83%	19.93%	-13.24%	28.30%	8.97%	27.57%	-9.00%
FSKAX Fidelity Total Market Index Fund	10.43%	17.06%	23.89%	26.12%	-19.53%	25.66%	20.79%	30.92%	-9.83%

Correlation

The correlation between SPUSX and FSKAX is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (All Time) Calculated using the full available price history since Nov 12, 2018	0.92

The correlation between SPUSX and FSKAX has been stable across timeframes, ranging from 0.92 to 0.95 - a consistent structural relationship.

Return for Risk

SPUSX vs. FSKAX — Risk / Return Rank

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

SPUSX

SPUSX Risk / Return Rank: 69
SPUSX Sharpe Ratio Rank: 65
SPUSX Sortino Ratio Rank: 63
SPUSX Omega Ratio Rank: 59
SPUSX Calmar Ratio Rank: 77
SPUSX Martin Ratio Rank: 82

FSKAX

FSKAX Risk / Return Rank: 64
FSKAX Sharpe Ratio Rank: 61
FSKAX Sortino Ratio Rank: 55
FSKAX Omega Ratio Rank: 56
FSKAX Calmar Ratio Rank: 70
FSKAX Martin Ratio Rank: 78

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.

SPUSX vs. FSKAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Symmetry Panoramic US Equity Fund (SPUSX) and Fidelity Total Market Index Fund (FSKAX). 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.

	SPUSX	FSKAX	Difference
Sharpe ratio: Return per unit of total volatility	2.18	2.12	+0.06
Sortino ratio: Return per unit of downside risk	3.03	2.87	+0.17
Omega ratio: Gain probability vs. loss probability	1.39	1.38	+0.01
Calmar ratio: Return relative to maximum drawdown	3.30	3.06	+0.24
Martin ratio: Return relative to average drawdown	14.20	13.62	+0.59

SPUSX vs. FSKAX - Sharpe Ratio Comparison

The current SPUSX Sharpe Ratio is 2.18, which is comparable to the FSKAX Sharpe Ratio of 2.12. The chart below compares the historical Sharpe Ratios of SPUSX and FSKAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SPUSX vs. FSKAX - Drawdown Comparison

The maximum SPUSX drawdown since its inception was -36.46%, roughly equal to the maximum FSKAX drawdown of -35.01%. Use the drawdown chart below to compare losses from any high point for SPUSX and FSKAX.

Drawdown Indicators

	SPUSX	FSKAX	Difference
Max Drawdown Largest peak-to-trough decline	-36.46%	-35.01%	-1.45%
Max Drawdown (1Y) Largest decline over 1 year	-8.14%	-8.92%	+0.78%
Max Drawdown (3Y) Largest decline over 3 years	-20.15%	-19.43%	-0.72%
Max Drawdown (5Y) Largest decline over 5 years	-21.72%	-25.39%	+3.67%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.01%	—
Current Drawdown Current decline from peak	-0.52%	-1.47%	+0.95%
Average Drawdown Average peak-to-trough decline	-5.22%	-4.01%	-1.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.89%	2.00%	-0.11%

Volatility

SPUSX vs. FSKAX - Volatility Comparison

The current volatility for Symmetry Panoramic US Equity Fund (SPUSX) is 4.11%, while Fidelity Total Market Index Fund (FSKAX) has a volatility of 4.80%. This indicates that SPUSX experiences smaller price fluctuations and is considered to be less risky than FSKAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPUSX	FSKAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.11%	4.80%	-0.69%
Volatility (6M) Calculated over the trailing 6-month period	9.50%	10.10%	-0.60%
Volatility (1Y) Calculated over the trailing 1-year period	12.37%	12.91%	-0.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.66%	17.50%	-0.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.09%	18.50%	+0.59%

SPUSX vs. FSKAX - Expense Ratio Comparison

SPUSX has a 0.64% expense ratio, which is higher than FSKAX's 0.02% expense ratio.

Dividends

SPUSX vs. FSKAX - Dividend Comparison

SPUSX's dividend yield for the trailing twelve months is around 5.55%, more than FSKAX's 0.95% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSKAX Fidelity Total Market Index Fund	0.95%	1.01%	1.19%	1.41%	1.62%	1.15%	1.45%	1.94%	2.54%	2.07%	2.43%	0.82%
SPUSX Symmetry Panoramic US Equity Fund	5.55%	6.29%	15.88%	4.05%	3.88%	6.99%	1.11%	1.99%	0.44%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SPUSX and FSKAX in my portfolio?

With a correlation of 0.94, SPUSX and FSKAX 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, SPUSX or FSKAX?

FSKAX has higher volatility (4.80%) compared to SPUSX (4.11%). In terms of maximum drawdown, SPUSX dropped -36.46% vs FSKAX's -35.01%.

Which has better risk-adjusted returns?

SPUSX currently has the higher Sharpe Ratio (2.18 vs 2.12), 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.