VSIIX vs. FSKAX
VSIIX (Vanguard Small-Cap Value Index Fund Institutional Shares) and FSKAX (Fidelity Total Market Index Fund) are both mutual funds - VSIIX is a Small Cap Value Equities fund managed by Vanguard, while FSKAX is a Large Cap Blend Equities fund managed by Fidelity. Over the past 10 years, VSIIX returned 10.50%/yr vs 15.00%/yr for FSKAX. Their correlation of 0.86 suggests significant overlap in exposure. VSIIX charges 0.06%/yr vs 0.01%/yr for FSKAX.
Performance
VSIIX vs. FSKAX - Performance Comparison
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Returns By Period
In the year-to-date period, VSIIX achieves a 12.48% return, which is significantly higher than FSKAX's 11.78% return. Over the past 10 years, VSIIX has underperformed FSKAX with an annualized return of 10.50%, while FSKAX has yielded a comparatively higher 15.00% annualized return.
VSIIX
- 1D
- 0.74%
- 1M
- 1.95%
- YTD
- 12.48%
- 6M
- 12.57%
- 1Y
- 25.98%
- 3Y*
- 17.22%
- 5Y*
- 8.14%
- 10Y*
- 10.50%
FSKAX
- 1D
- 0.51%
- 1M
- 3.65%
- YTD
- 11.78%
- 6M
- 11.30%
- 1Y
- 27.99%
- 3Y*
- 22.42%
- 5Y*
- 12.83%
- 10Y*
- 15.00%
VSIIX vs. FSKAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VSIIX Vanguard Small-Cap Value Index Fund Institutional Shares | 12.48% | 9.10% | 11.37% | 17.06% | -9.31% | 28.12% | 5.81% | 22.81% | -12.24% | 11.80% |
FSKAX Fidelity Total Market Index Fund | 11.78% | 17.06% | 23.89% | 26.12% | -19.53% | 25.66% | 20.79% | 30.92% | -5.32% | 20.85% |
Correlation
The correlation between VSIIX and FSKAX is 0.74, 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 | 0.74 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.78 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.83 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.83 |
Correlation (All Time) Calculated using the full available price history since Sep 9, 2011 | 0.86 |
The correlation between VSIIX and FSKAX shifts across timeframes, from 0.74 (1 year) to 0.86 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
VSIIX vs. FSKAX — Risk / Return Rank
VSIIX
FSKAX
VSIIX vs. FSKAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Small-Cap Value Index Fund Institutional Shares (VSIIX) 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.
| VSIIX | FSKAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.54 | ||
| Sortino ratioReturn per unit of downside risk | -0.56 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.42 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 3.09 | 3.24 | -0.14 |
| Martin ratioReturn relative to average drawdown | 10.97 | 14.87 | -3.90 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VSIIX | FSKAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.81 | 2.35 | -0.54 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.41 | 0.74 | -0.33 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.48 | 0.82 | -0.33 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.44 | 0.85 | -0.41 |
Drawdowns
VSIIX vs. FSKAX - Drawdown Comparison
The maximum VSIIX drawdown since its inception was -62.05%, which is greater than FSKAX's maximum drawdown of -35.01%. Use the drawdown chart below to compare losses from any high point for VSIIX and FSKAX.
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Drawdown Indicators
| VSIIX | FSKAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.05% | -35.01% | -27.04% |
Max Drawdown (1Y)Largest decline over 1 year | -8.87% | -8.92% | +0.05% |
Max Drawdown (3Y)Largest decline over 3 years | -24.09% | -19.43% | -4.66% |
Max Drawdown (5Y)Largest decline over 5 years | -24.09% | -25.39% | +1.30% |
Max Drawdown (10Y)Largest decline over 10 years | -45.38% | -35.01% | -10.37% |
Current DrawdownCurrent decline from peak | 0.00% | -0.27% | +0.27% |
Average DrawdownAverage peak-to-trough decline | -8.52% | -4.02% | -4.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.50% | 1.94% | +0.56% |
Volatility
VSIIX vs. FSKAX - Volatility Comparison
Vanguard Small-Cap Value Index Fund Institutional Shares (VSIIX) has a higher volatility of 3.90% compared to Fidelity Total Market Index Fund (FSKAX) at 3.03%. This indicates that VSIIX's price experiences larger fluctuations and is considered to be riskier than FSKAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VSIIX | FSKAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.90% | 3.03% | +0.87% |
Volatility (6M)Calculated over the trailing 6-month period | 10.44% | 9.26% | +1.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.16% | 12.28% | +2.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.77% | 17.41% | +2.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.82% | 18.45% | +3.37% |
VSIIX vs. FSKAX - Expense Ratio Comparison
VSIIX has a 0.06% 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
VSIIX vs. FSKAX - Dividend Comparison
VSIIX's dividend yield for the trailing twelve months is around 1.75%, more than FSKAX's 0.93% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSKAX Fidelity Total Market Index Fund | 0.93% | 1.01% | 1.19% | 1.41% | 1.62% | 1.15% | 1.45% | 1.94% | 2.54% | 2.07% | 2.43% | 0.82% |
VSIIX Vanguard Small-Cap Value Index Fund Institutional Shares | 1.75% | 1.96% | 1.99% | 2.10% | 2.04% | 1.76% | 1.69% | 2.07% | 2.36% | 1.80% | 1.77% | 1.99% |
Frequently Asked Questions
VSIIX and FSKAX have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VSIIX has higher volatility (3.90%) compared to FSKAX (3.03%). In terms of maximum drawdown, VSIIX dropped -62.05% vs FSKAX's -35.01%.
FSKAX currently has the higher Sharpe Ratio (2.35 vs 1.81), 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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