VSMSX vs. FSSNX
Compare and contrast key facts about Vanguard S&P Small-Cap 600 Index Fund Institutional Shares (VSMSX) and Fidelity Small Cap Index Fund (FSSNX).
VSMSX is managed by Vanguard. It was launched on Apr 1, 2011. FSSNX is managed by Fidelity. It was launched on Sep 8, 2011.
Performance
VSMSX vs. FSSNX - Performance Comparison
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VSMSX vs. FSSNX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VSMSX Vanguard S&P Small-Cap 600 Index Fund Institutional Shares | 0.71% | 6.04% | 7.20% | 17.57% | -16.19% | 26.72% | 11.46% | 22.73% | -8.51% | 13.39% |
FSSNX Fidelity Small Cap Index Fund | -2.46% | 12.94% | 11.71% | 17.11% | -20.28% | 14.70% | 19.99% | 25.70% | -11.24% | 14.54% |
Returns By Period
In the year-to-date period, VSMSX achieves a 0.71% return, which is significantly higher than FSSNX's -2.46% return. Both investments have delivered pretty close results over the past 10 years, with VSMSX having a 9.58% annualized return and FSSNX not far behind at 9.53%.
VSMSX
- 1D
- -0.71%
- 1M
- -6.66%
- YTD
- 0.71%
- 6M
- 2.43%
- 1Y
- 17.27%
- 3Y*
- 9.49%
- 5Y*
- 3.87%
- 10Y*
- 9.58%
FSSNX
- 1D
- -1.44%
- 1M
- -8.16%
- YTD
- -2.46%
- 6M
- -0.28%
- 1Y
- 21.68%
- 3Y*
- 11.92%
- 5Y*
- 3.17%
- 10Y*
- 9.53%
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VSMSX vs. FSSNX - Expense Ratio Comparison
VSMSX has a 0.08% 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%.
Return for Risk
VSMSX vs. FSSNX — Risk / Return Rank
VSMSX
FSSNX
VSMSX vs. FSSNX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard S&P Small-Cap 600 Index Fund Institutional Shares (VSMSX) 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.
| VSMSX | FSSNX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.79 | 0.92 | -0.12 |
Sortino ratioReturn per unit of downside risk | 1.26 | 1.41 | -0.15 |
Omega ratioGain probability vs. loss probability | 1.17 | 1.18 | -0.01 |
Calmar ratioReturn relative to maximum drawdown | 1.03 | 1.34 | -0.30 |
Martin ratioReturn relative to average drawdown | 4.20 | 5.05 | -0.85 |
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
| VSMSX | FSSNX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.79 | 0.92 | -0.12 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.18 | 0.14 | +0.04 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.41 | 0.41 | +0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.51 | 0.48 | +0.03 |
Correlation
The correlation between VSMSX and FSSNX is 0.98, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
VSMSX vs. FSSNX - Dividend Comparison
VSMSX's dividend yield for the trailing twelve months is around 1.38%, more than FSSNX's 1.11% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VSMSX Vanguard S&P Small-Cap 600 Index Fund Institutional Shares | 1.38% | 1.39% | 1.49% | 1.47% | 1.52% | 1.17% | 1.10% | 1.38% | 1.39% | 1.11% | 1.00% | 1.33% |
FSSNX Fidelity Small Cap Index Fund | 1.11% | 1.08% | 1.04% | 1.43% | 1.26% | 3.92% | 0.94% | 2.96% | 4.94% | 3.37% | 2.27% | 2.66% |
Drawdowns
VSMSX vs. FSSNX - Drawdown Comparison
The maximum VSMSX drawdown since its inception was -44.42%, which is greater than FSSNX's maximum drawdown of -41.72%. Use the drawdown chart below to compare losses from any high point for VSMSX and FSSNX.
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Drawdown Indicators
| VSMSX | FSSNX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.42% | -41.72% | -2.70% |
Max Drawdown (1Y)Largest decline over 1 year | -14.87% | -13.89% | -0.98% |
Max Drawdown (5Y)Largest decline over 5 years | -27.93% | -31.87% | +3.94% |
Max Drawdown (10Y)Largest decline over 10 years | -44.42% | -41.72% | -2.70% |
Current DrawdownCurrent decline from peak | -8.30% | -11.00% | +2.70% |
Average DrawdownAverage peak-to-trough decline | -7.48% | -8.37% | +0.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.65% | 3.68% | -0.03% |
Volatility
VSMSX vs. FSSNX - Volatility Comparison
The current volatility for Vanguard S&P Small-Cap 600 Index Fund Institutional Shares (VSMSX) is 5.55%, while Fidelity Small Cap Index Fund (FSSNX) has a volatility of 6.60%. This indicates that VSMSX experiences smaller price fluctuations and is considered to be less risky than FSSNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VSMSX | FSSNX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.55% | 6.60% | -1.05% |
Volatility (6M)Calculated over the trailing 6-month period | 12.75% | 14.12% | -1.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.62% | 23.11% | -0.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.55% | 22.56% | -1.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.19% | 23.38% | -0.19% |