TISBX vs. FSSNX

Last updated Jun 4, 2026

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

Performance

TISBX vs. FSSNX - Performance Comparison

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

Returns By Period

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

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%

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

TISBX vs. FSSNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
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%

Correlation

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

Return for Risk

TISBX vs. FSSNX — Risk / Return Rank

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

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

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

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.

TISBX vs. FSSNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TIAA-CREF Small-Cap Blend Index Fund (TISBX) 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.

	TISBX	FSSNX	Difference
Sharpe ratio Return per unit of total volatility	2.28	2.29	-0.01
Sortino ratio Return per unit of downside risk	3.12	3.14	-0.01
Omega ratio Gain probability vs. loss probability	1.37	1.37	0.00
Calmar ratio Return relative to maximum drawdown	3.99	3.98	+0.01
Martin ratio Return relative to average drawdown	14.14	14.13	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.

TISBX vs. FSSNX - Sharpe Ratio Comparison

The current TISBX Sharpe Ratio is 2.28, which is comparable to the FSSNX Sharpe Ratio of 2.29. The chart below compares the historical Sharpe Ratios of TISBX and FSSNX, 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

	TISBX	FSSNX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.28	2.29	-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	0.39	0.54	-0.15

Drawdowns

TISBX vs. FSSNX - Drawdown Comparison

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

Drawdown Indicators

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

Volatility

TISBX vs. FSSNX - Volatility Comparison

TIAA-CREF Small-Cap Blend Index Fund (TISBX) and Fidelity Small Cap Index Fund (FSSNX) 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

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

TISBX vs. FSSNX - Expense Ratio Comparison

TISBX has a 0.05% 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

TISBX vs. FSSNX - Dividend Comparison

TISBX's dividend yield for the trailing twelve months is around 3.47%, more than FSSNX's 0.91% 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 TISBX and FSSNX in my portfolio?

With a correlation of 1.00, TISBX 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.

Which is riskier, TISBX or FSSNX?

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

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.