SWSSX vs. FSSNX
SWSSX (Schwab Small-Cap Index Fund-Select Shares) and FSSNX (Fidelity Small Cap Index Fund) are both Small Cap Blend Equities funds tracking the Russell 2000 Index, from Charles Schwab and Fidelity respectively. Both are passively managed. Over the past 10 years, SWSSX returned 10.76%/yr vs 10.77%/yr for FSSNX. Their 1.00 correlation means they have historically moved very closely together. SWSSX charges 0.04%/yr vs 0.03%/yr for FSSNX.
Performance
SWSSX vs. FSSNX - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with SWSSX having a 20.94% return and FSSNX slightly higher at 20.99%. Both investments have delivered pretty close results over the past 10 years, with SWSSX having a 10.76% annualized return and FSSNX not far ahead at 10.77%.
SWSSX
- 1D
- 1.73%
- 1M
- -0.41%
- 6M
- 13.29%
- YTD
- 20.94%
- 1Y
- 36.49%
- 3Y*
- 16.70%
- 5Y*
- 7.82%
- 10Y*
- 10.76%
- ALL TIME*
- 8.61%
FSSNX
- 1D
- 1.74%
- 1M
- -0.40%
- 6M
- 13.30%
- YTD
- 20.99%
- 1Y
- 36.60%
- 3Y*
- 16.78%
- 5Y*
- 7.90%
- 10Y*
- 10.77%
- ALL TIME*
- 11.88%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
SWSSX vs. FSSNX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SWSSX Schwab Small-Cap Index Fund-Select Shares | 20.94% | 12.88% | 11.57% | 17.07% | -20.43% | 14.77% | 20.12% | 25.63% | -11.19% | 14.76% |
FSSNX Fidelity Small Cap Index Fund | 20.99% | 12.94% | 11.71% | 17.11% | -20.28% | 14.70% | 19.99% | 25.70% | -11.24% | 14.54% |
Correlation
The correlation between SWSSX and FSSNX is 1.00 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 1.00 |
Correlation (3Y) Balances recent behavior with more history. | 1.00 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 1.00 |
Correlation (10Y) Provides a long-term view across more market conditions. | 1.00 |
Correlation (All Time) Calculated using the full available price history since Sep 9, 2011 | 1.00 |
The correlation between SWSSX and FSSNX has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.
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Return for Risk
SWSSX vs. FSSNX — Risk / Return Rank
SWSSX
FSSNX
SWSSX vs. FSSNX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Schwab Small-Cap Index Fund-Select Shares (SWSSX) and Fidelity Small Cap Index Fund (FSSNX). 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.
| SWSSX | FSSNX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | 0.00 | ||
| Sortino ratioReturn per unit of downside risk | 0.00 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.34 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 3.60 | 3.60 | -0.01 |
| Martin ratioReturn relative to average drawdown | 12.75 | 12.79 | -0.04 |
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Drawdowns
SWSSX vs. FSSNX - Drawdown Comparison
The maximum SWSSX drawdown since its inception was -60.34%, which is greater than FSSNX's maximum drawdown of -41.72%. Use the drawdown chart below to compare losses from any high point for SWSSX and FSSNX.
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Drawdown Indicators
| SWSSX | FSSNX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.34% | -41.72% | -18.62% |
Max Drawdown (1Y)Largest decline over 1 year | -11.00% | -11.00% | 0.00% |
Max Drawdown (3Y)Largest decline over 3 years | -27.50% | -27.45% | -0.05% |
Max Drawdown (5Y)Largest decline over 5 years | -31.93% | -31.87% | -0.06% |
Max Drawdown (10Y)Largest decline over 10 years | -41.81% | -41.72% | -0.09% |
Current DrawdownCurrent decline from peak | -1.33% | -1.32% | -0.01% |
Average DrawdownAverage peak-to-trough decline | -10.67% | -8.21% | -2.46% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.10% | 3.10% | 0.00% |
Volatility
SWSSX vs. FSSNX - Volatility Comparison
Schwab Small-Cap Index Fund-Select Shares (SWSSX) and Fidelity Small Cap Index Fund (FSSNX) have volatilities of 4.22% and 4.22%, 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.
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Volatility by Period
| SWSSX | FSSNX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.22% | 4.22% | 0.00% |
Volatility (6M)Calculated over the trailing 6-month period | 14.15% | 14.15% | 0.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.38% | 19.38% | 0.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.57% | 22.56% | +0.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.08% | 23.43% | +0.65% |
SWSSX vs. FSSNX - Expense Ratio Comparison
SWSSX has a 0.04% expense ratio, which is higher than FSSNX's 0.03% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
SWSSX vs. FSSNX - Dividend Comparison
SWSSX's dividend yield for the trailing twelve months is around 1.06%, more than FSSNX's 1.04% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSSNX Fidelity Small Cap Index Fund | 1.04% | 1.08% | 1.04% | 1.43% | 1.26% | 3.92% | 0.94% | 2.96% | 4.94% | 3.37% | 2.27% | 2.66% |
SWSSX Schwab Small-Cap Index Fund-Select Shares | 1.06% | 1.29% | 1.66% | 1.49% | 1.32% | 8.88% | 2.55% | 6.12% | 10.45% | 5.22% | 4.10% | 6.92% |
Frequently Asked Questions
With a correlation of 1.00, SWSSX and FSSNX 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.
FSSNX has higher volatility (4.22%) compared to SWSSX (4.22%). In terms of maximum drawdown, SWSSX dropped -60.34% vs FSSNX's -41.72%.
FSSNX currently has the higher Sharpe Ratio (2.05 vs 2.05), 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.
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