VOO vs. FSKAX
VOO (Vanguard S&P 500 ETF) and FSKAX (Fidelity Total Market Index Fund) are both funds - VOO is a S&P 500 fund tracking the S&P 500 Index, while FSKAX is a Large Cap Blend Equities fund managed by Fidelity. Over the past 10 years, VOO returned 15.72%/yr vs 14.99%/yr for FSKAX. With a 0.99 correlation, they move nearly in lockstep. VOO charges 0.03%/yr vs 0.01%/yr for FSKAX.
Performance
VOO vs. FSKAX - Performance Comparison
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Returns By Period
In the year-to-date period, VOO achieves a 10.99% return, which is significantly higher than FSKAX's 9.75% return. Both investments have delivered pretty close results over the past 10 years, with VOO having a 15.72% annualized return and FSKAX not far behind at 14.99%.
VOO
- 1D
- 1.74%
- 1M
- 2.12%
- YTD
- 10.99%
- 6M
- 11.51%
- 1Y
- 27.95%
- 3Y*
- 21.25%
- 5Y*
- 13.93%
- 10Y*
- 15.72%
FSKAX
- 1D
- 0.51%
- 1M
- 1.05%
- YTD
- 9.75%
- 6M
- 10.07%
- 1Y
- 26.33%
- 3Y*
- 20.67%
- 5Y*
- 12.24%
- 10Y*
- 14.99%
VOO vs. FSKAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VOO Vanguard S&P 500 ETF | 10.99% | 17.82% | 24.98% | 26.32% | -18.17% | 28.79% | 18.32% | 31.37% | -4.50% | 21.77% |
FSKAX Fidelity Total Market Index Fund | 9.75% | 17.06% | 23.89% | 26.12% | -19.53% | 25.66% | 20.79% | 30.92% | -5.32% | 20.85% |
Correlation
The correlation between VOO and FSKAX is 0.99 - 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 | 0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Sep 8, 2011 | 0.99 |
The correlation between VOO and FSKAX has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.
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Return for Risk
VOO vs. FSKAX — Risk / Return Rank
VOO
FSKAX
VOO vs. FSKAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard S&P 500 ETF (VOO) 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.
| VOO | FSKAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.33 | ||
| Sortino ratioReturn per unit of downside risk | +0.42 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.35 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 3.15 | 2.80 | +0.36 |
| Martin ratioReturn relative to average drawdown | 14.25 | 12.51 | +1.74 |
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Drawdowns
VOO vs. FSKAX - Drawdown Comparison
The maximum VOO drawdown since its inception was -33.99%, roughly equal to the maximum FSKAX drawdown of -35.01%. Use the drawdown chart below to compare losses from any high point for VOO and FSKAX.
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Drawdown Indicators
| VOO | FSKAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.99% | -35.01% | +1.02% |
Max Drawdown (1Y)Largest decline over 1 year | -8.90% | -8.92% | +0.02% |
Max Drawdown (3Y)Largest decline over 3 years | -18.69% | -19.43% | +0.74% |
Max Drawdown (5Y)Largest decline over 5 years | -24.52% | -25.39% | +0.87% |
Max Drawdown (10Y)Largest decline over 10 years | -33.99% | -35.01% | +1.02% |
Current DrawdownCurrent decline from peak | -0.63% | -2.08% | +1.45% |
Average DrawdownAverage peak-to-trough decline | -3.68% | -4.01% | +0.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.97% | 1.99% | -0.02% |
Volatility
VOO vs. FSKAX - Volatility Comparison
Vanguard S&P 500 ETF (VOO) and Fidelity Total Market Index Fund (FSKAX) have volatilities of 4.61% and 4.64%, 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
| VOO | FSKAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.61% | 4.64% | -0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 9.72% | 9.97% | -0.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.34% | 12.79% | -0.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.90% | 17.48% | -0.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.05% | 18.49% | -0.44% |
VOO vs. FSKAX - Expense Ratio Comparison
VOO has a 0.03% expense ratio, which is higher than FSKAX's 0.02% 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
VOO vs. FSKAX - Dividend Comparison
VOO's dividend yield for the trailing twelve months is around 1.03%, 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% |
VOO Vanguard S&P 500 ETF | 1.03% | 1.13% | 1.24% | 1.46% | 1.69% | 1.25% | 1.54% | 1.88% | 2.06% | 1.78% | 2.02% | 2.10% |
Frequently Asked Questions
With a correlation of 0.99, VOO 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.
FSKAX has higher volatility (4.64%) compared to VOO (4.61%). In terms of maximum drawdown, VOO dropped -33.99% vs FSKAX's -35.01%.
VOO currently has the higher Sharpe Ratio (2.28 vs 1.95), 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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