FSKAX vs FXAIX
Fidelity Total Market Index Fund vs Fidelity 500 Index Fund
Which is better, FSKAX or FXAIX?
FXAIX has been ahead.
FXAIX led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.99. FSKAX is less concentrated, with 31.2% of the fund in its ten largest positions against 36.4%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | FSKAX | FXAIX |
|---|---|---|
| Expense Ratio | 0.02%Tie | 0.02%Tie |
| AUM | $99.4B | $594.0B |
| Dividend Yield | 0.92% | 1.06% |
| Holdings | 3,773 | 507 |
| YTD Price Return | +11.43%Best | +10.88% |
| 1Y Price Return | +14.51% | +14.68%Best |
| 3Y Price Return (annualized) | +19.27% | +19.48%Best |
| 5Y Price Return (annualized) | +10.41% | +11.37%Best |
| Volatility (annualized) | 16.0% | 15.4%Best |
| Max Drawdown | -26.0% | -25.4%Best |
| $10,000 over 5 years | $16,407 | $17,133Best |
| Top 10 Weight | 31.2%Best | 36.4% |
| Fund Family | Fidelity Investments (US) | Fidelity Investments (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Sep 8, 2011 | May 4, 2011 |
Returns are price returns and exclude distributions, because our data feed carries no adjusted close for FSKAX or FXAIX. Both funds are measured the same way, so the comparison holds. FSKAX yields 0.92% and FXAIX 1.06% on top.
Volatility and max drawdown are measured over the window both funds cover: Sep 17, 2021 to Sep 15, 2026 (5 years).
FSKAX vs FXAIX growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 5 years both funds cover. Prices exclude distributions, on both funds alike.
FSKAX vs FXAIX Performance
Fidelity Total Market Index Fund (FSKAX) is a mutual fund from Fidelity Investments (US) and Fidelity 500 Index Fund (FXAIX) is a mutual fund from Fidelity Investments (US). Over the past year FSKAX returned +14.51% while FXAIX returned +14.68%. Year to date, FSKAX is up 11.43% versus a gain of 10.88% for FXAIX.
Over three years, FSKAX compounded at +19.27% per year against +19.48% for FXAIX; over five years the annualized figures are +10.41% and +11.37% respectively.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FSKAX has been the more volatile fund, with annualized monthly volatility of 16.0% compared with 15.4% for FXAIX. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -26.0% for FSKAX and -25.4% for FXAIX. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.99. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
FSKAX charges 0.02% per year while FXAIX charges 0.02%. On a $10,000 position that is $2 vs $2 annually. On income, FSKAX currently yields 0.92% against 1.06% for FXAIX.
Holdings Overlap
86.0% of FSKAX's money is in holdings FXAIX also owns. 96.1% of FXAIX's money is in holdings FSKAX also owns.
Most of FXAIX is already inside FSKAX. Owning both mostly buys the same companies twice.
The two holdings books were reported 122 days apart, FSKAX as of Feb 28, 2026 and FXAIX as of Jun 30, 2026, so some of the difference between them is the time between the two reports rather than the funds.
502 positions in common, counted across the 3,694 positions we hold weights for in FSKAX and 508 in FXAIX, against full books of 3,773 and 507.
What only one of them owns
Our book lists 4 positions for FXAIX that do not appear in our book for FSKAX (3.5% of the fund), and 660 for FSKAX that do not appear in FXAIX (10.2%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in FSKAX | Weight in FXAIX | Difference |
|---|---|---|---|
| NVDANvidia Corp | 6.46% | 7.51% | 1.05% |
| AAPLApple, Inc | 5.85% | 6.59% | 0.74% |
| MSFTMicrosoft Corp | 4.38% | 4.30% | 0.08% |
| AMZNAmazon.Com Inc | 3.06% | 3.62% | 0.56% |
| GOOGAlphabet Inc | 2.72% | 2.59% | 0.13% |
| AVGOBroadcom Inc | 2.26% | 2.77% | 0.51% |
| METAMeta Platforms Inc | 2.12% | 1.92% | 0.20% |
| TSLATesla Inc | 1.70% | 1.84% | 0.14% |
| BRK.BBerkshire Hathaway Inc Brk/B Us Equity | 1.39% | 1.42% | 0.03% |
| LLYEli Lilly & Co. | 1.25% | 1.47% | 0.22% |
96.1% of FXAIX is already inside FSKAX.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, FSKAX or FXAIX?
FSKAX has an expense ratio of 0.02% while FXAIX charges 0.02%. At the precision these are quoted to, they cost the same.
Which performed better, FSKAX or FXAIX?
Over the past year FSKAX returned +14.51% vs +14.68% for FXAIX, so FXAIX leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FSKAX or FXAIX?
FSKAX has been the more volatile fund at 16.0% annualized versus 15.4% for FXAIX. Worst drawdown: FSKAX -26.0% vs FXAIX -25.4%.
Should I hold both FSKAX and FXAIX?
FSKAX and FXAIX have a monthly-return correlation of 0.99, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between FSKAX and FXAIX?
96.1% of FXAIX's money is in holdings FSKAX also owns. 96.1% of FXAIX's is in holdings FSKAX also owns. They hold 502 positions in common, counted across the 3,694 positions we hold weights for in FSKAX and 508 in FXAIX.
Which pays a higher dividend, FSKAX or FXAIX?
FSKAX yields 0.92% while FXAIX yields 1.06%, so FXAIX currently pays the higher dividend yield.
Is FXAIX better than FSKAX?
FXAIX led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.99. FSKAX is less concentrated, with 31.2% of the fund in its ten largest positions against 36.4%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.