FSKAX vs VTI
Fidelity Total Market Index Fund vs Vanguard Morningstar Total Stock Market ETF
Which is better, FSKAX or VTI?
Nearly the same fund. FSKAX costs less.
FSKAX has a lower expense ratio. FSKAX led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.99.
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 | VTI |
|---|---|---|
| Expense Ratio | 0.02%Best | 0.03% |
| AUM | $99.4B | $666.9B |
| Dividend Yield | 0.92% | 1.03% |
| Holdings | 3,773 | 3,543 |
| YTD Price Return | +12.48%Best | +11.89% |
| 1Y Price Return | +15.95%Best | +15.87% |
| 3Y Price Return (annualized) | +19.49%Best | +19.30% |
| 5Y Price Return (annualized) | +10.48%Best | +10.30% |
| Volatility (annualized) | 16.0%Best | 16.1% |
| Max Drawdown | -26.0%Best | -26.2% |
| $10,000 over 5 years | $16,460Best | $16,326 |
| Fund Family | Fidelity Investments (US) | Vanguard (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Sep 8, 2011 | May 24, 2001 |
Not shown on this pair: Top 10 Weight.
Returns are price returns and exclude distributions, because our data feed carries no adjusted close for FSKAX. Both funds are measured the same way, so the comparison holds. FSKAX yields 0.92% and VTI 1.03% on top.
Volatility and max drawdown are measured over the window both funds cover: Sep 13, 2021 to Sep 11, 2026 (5 years).
FSKAX vs VTI 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 VTI Performance
Fidelity Total Market Index Fund (FSKAX) is a mutual fund from Fidelity Investments (US) and Vanguard Morningstar Total Stock Market ETF (VTI) is an ETF from Vanguard (US). Over the past year FSKAX returned +15.95% while VTI returned +15.87%. Year to date, FSKAX is up 12.48% versus a gain of 11.89% for VTI.
Over three years, FSKAX compounded at +19.49% per year against +19.30% for VTI; over five years the annualized figures are +10.48% and +10.30% respectively.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VTI has been the more volatile fund, with annualized monthly volatility of 16.1% compared with 16.0% for FSKAX. 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 -26.2% for VTI. 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 VTI charges 0.03%. On a $10,000 position that is $2 vs $3 annually, a gap of $1 per year that compounds over a long holding period. On income, FSKAX currently yields 0.92% against 1.03% for VTI.
Structure and taxes
FSKAX is a mutual fund and VTI is an ETF. A mutual fund prices once a day at net asset value and may carry a purchase minimum. An ETF trades through the day at whatever the market pays for it.
In a taxable account the difference that usually matters is distributions. An ETF can meet redemptions in kind, so it rarely has to sell holdings and rarely passes a capital gain to the people who held it; a mutual fund that sells holdings to meet redemptions can distribute a realised gain at year end to everyone still in the fund, whether or not they sold anything themselves. In a tax-deferred account that difference largely disappears. Both are descriptions of how the two wrappers work, not a recommendation.
Tax-loss harvesting works on either wrapper.
Holdings Overlap
We hold position weights for 3,692 holdings in FSKAX and 2,787 in VTI, totalling 94.6% and 90.6% of the two funds. Neither is a share of a fund we can divide by, so no overlap percentage is shown here. Within what we can see, 2,644 positions appear in both.
The two holdings books were reported 122 days apart, FSKAX as of Feb 28, 2026 and VTI as of Jun 30, 2026, so some of the difference between them is the time between the two reports rather than the funds.
2,644 positions in common, counted across the 3,692 positions we hold weights for in FSKAX and 2,787 in VTI, against full books of 3,773 and 3,543.
Top Shared Holdings
| Stock | Weight in FSKAX | Weight in VTI | Difference |
|---|---|---|---|
| NVDANvidia Corp. | 6.46% | 6.32% | 0.14% |
| AAPLApple, Inc | 5.85% | 5.84% | 0.01% |
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 4.38% | 3.81% | 0.57% |
| AMZNAmazon.Com Inc | 3.06% | 3.17% | 0.11% |
| GOOGAlphabet Inc | 2.72% | 2.27% | 0.45% |
| AVGOBroadcom Inc | 2.26% | 2.46% | 0.20% |
| TSLATesla Inc | 1.70% | 1.63% | 0.07% |
| LLYEli Lilly & Co. | 1.25% | 1.40% | 0.15% |
| BRK.BBerkshire Hathaway B | 1.39% | 1.24% | 0.15% |
| MUMicron Technology, Inc. | 0.69% | 1.79% | 1.10% |
You are not choosing between two funds in isolation.
Whichever of FSKAX and VTI you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, FSKAX or VTI?
FSKAX has an expense ratio of 0.02% while VTI charges 0.03%. FSKAX is the cheaper option, by $1 a year on a $10,000 investment.
Which performed better, FSKAX or VTI?
Over the past year FSKAX returned +15.95% vs +15.87% for VTI, so FSKAX leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FSKAX or VTI?
VTI has been the more volatile fund at 16.1% annualized versus 16.0% for FSKAX. Worst drawdown: FSKAX -26.0% vs VTI -26.2%.
Should I hold both FSKAX and VTI?
FSKAX and VTI 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.
Which pays a higher dividend, FSKAX or VTI?
FSKAX yields 0.92% while VTI yields 1.03%, so VTI currently pays the higher dividend yield.
Is it better to hold FSKAX or VTI in a taxable account?
VTI is an ETF and FSKAX is a mutual fund. An ETF can meet redemptions in kind, so it rarely distributes a capital gain to the people holding it. A mutual fund that sells holdings to meet redemptions can pass a realised gain to every holder at year end. In a tax-deferred account that difference largely disappears. This is information, not a recommendation.
Is VTI better than FSKAX?
FSKAX has a lower expense ratio. FSKAX led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.99. Which one suits a particular account depends on what it is for. This is information, not a recommendation.