FSKAX vs VTSAX: Comparing Total Stock Market Index Funds (2024)

This article compares FSKAX vs VTSAX — Fidelity’s Total Market Index Fund vs Vanguard’sTotal Stock Market Index Fund Admiral Shares.

Both are passively-managed index mutual funds popular in retirement accounts for investors seeking near market returns vs risk-free high-yield savingsaccounts.

Index mutual funds track market indexes, such as the S&P 500.

Both FSKAX and VTSAX are much broader than the S&P 500. They track more than 4,000 stocks each.

So if you own either fund, you essentially own a tiny piece of every public company in the U.S.

Bottom Line Upfront (BLUF)

Before I get into the details of FSKAX vs VTSAX, it’s important to keep the following in mind:

• Both funds are excellent, low-fee options for your portfolio.
• TheVTSAX Fidelity equivalent is FSKAX
• The fund compositions and returns are very similar, almost identical. So a deep dive for comparison’s sake may be overkill for most investors.
• If you already have an account with Vanguard or Fidelity, choose the fund associated with where your account is to avoid purchase fees.
• ETFs are likely a better choice if you have accounts with other online brokers (not Fidelity or Vanguard) (see ETFs section).

Please note that both funds update their prospectuses regularly. The information referenced in this article will change over time.

The best resource for both funds is at Fidelity’s and Vanguard’s websites.

Here are links to the most updated information at Fidelity and Vanguard. Consider the information on those pages to be the authoritative data source.

• Fidelity Total Market Index Fund (FSKAX)
• Vanguard Total Stock Market Index Fund Admiral Shares (VTSAX)

FSKAX vs VTSAX Comparison

Side-by-Side

Here’s a side-by-side comparison of both funds. Scroll right on mobile.

A few noticeable differences comparing FSKAX vs VTSAX:

• The benchmark indexes are different.
• VTSAX is much larger from a net assets perspective. Though, the Fidelity fund is still large.
• VTSAX was established 11 years earlier.
• Expense ratios are both very low, but Fidelity’s fund is slightly lower (the difference is so small that it should not affect investment decisions).
• Vanguard’s fund has a $3,000 minimum investment vs $0 for Fidelity. However, you can buy the Vanguard equivalent ETF (VTI) for no minimum (see ETFs section).
• Three and five-year returns are nearly identical.

Benchmark Indexes

FSKAX is indexed to the Dow Jones US Total Stock Market Index.

S&P Global owns the Dow Jones U.S. Total Stock Market Index. Visit this page tofind a Fact Sheet and Methodology documentation with the latest information on that page.

The index has more than 4,000 U.S. constituents.

VTSAX is indexed to the CRSP U.S. Total Market Index. CRSP stands for the Center for Research in Security Prices, an affiliate of the University of Chicago Booth School of Business.

Visit this page for the latest information about the index.

The index also has more than 4,000 constituents, making up nearly all equities in U.S. markets. Vanguard uses several CRSP indexes to build its low-cost index funds.

Both indexes are nearly identical, with little meaningful differences between the two.

Analysis of these indexes provides further evidence that choosing between the funds is a choice of convenience, not superiority.

Performance Chart

The performance of these two funds tracks almost identical.

Here’s a daily updated 10-year FSKAX vs VTSAX chart tracking against each other. As you can see, rarely do the funds skew from each other.

As these funds perform almost identically, either one will be suitable for broad equity coverage in your portfolio.

See the table above for up-to-date three and five-year average annual performance records.

This chart updates daily. Hover over the lines for prices. Scroll right on mobile.

Copy and paste the following code to embed this chart in your website. Please use the included link for attribution.

<p style="text-align: center;"><iframe width="700" height="450" seamless frameborder="0" scrolling="yes" src="https://docs.google.com/spreadsheets/d/e/2PACX-1vT4c3mnSRtE7WGv7-b1wvbmSvZYiHugvGE-tqUU3fQwkQehUD3Pf4iT3TQJFJCcIW0rGQp7JRAuB_XX/pubchart?oid=233418497&amp;format=interactive"></iframe></p><p style="text-align: center;"><span style="font-size: 10pt;">Source: <a href="https://www.retirebeforedad.com/fskax-vs-vtsax/?utm_source=referral&utm_medium=attribution&utm_campaign=fskax_vtsax">RetireBeforeDad.com/fskax-vs-vtsax</a></span></p>

Top Ten Holdings

Here are the top ten holdings for each fund. Visit the links at the beginning of the article for the most updated lists.

Fund Equivalents

The VTSAX Fidelity equivalent is FSKAX.

The FSKAX Vanguard equivalent is VTSAX.

Here are the ETF equivalents for both mutual funds.

• FSKAX ~ ITOT (not identical, but close)
• VTSAX = VTI

Exchange-traded funds (ETFs) trade like stocks. You can buy or sell them during the day on a stock exchange.

ETFs are easier to own, and the price changes throughout the day. Mutual funds only trade at the market close.

Active investors typically use ETFs for trading purposes or to buy and hold indexes when they can’t access index mutual funds.

For example, if you have an investing account with M1 Finance, you’d invest via ETFs instead of mutual funds. If your account is with Fidelity or Vanguard, you’d likely use the index funds FSKAX vs VTSAX.

Vanguard has an ETF called the Vanguard Total Stock Market Index ETF (symbol: VTI)that is the equivalent of VTSAX. But it’s an ETF, not a mutual fund.

Therefore, you can buy VTI on a stock exchange from any online broker (here are my favorites).

I own VTI and recommend it often to people who are not with a large mutual fund company and want to own the total U.S. market.

Fidelity has several ETFs, but they are generally not passive index ETFs. Instead, Fidelity offers actively managed and thematic ETFs.

However, Fidelity partners with iShares (owned by Blackrock) to offer its customers easy access to several passive index fund ETFs.

The iShares Core S&P Total U.S. Stock Market ETF (symbol: ITOT) is a good ETF with a low expense ratio (about 0.03%). You can buy the ITOT through any online broker.

• Learn more about VTI here
• Learn more about ITOT here

Use the above resources to find the most up-to-date information regarding VTI vs ITOT.

Fidelity vs. Vanguard

If you’re considering one of these two funds, you may be asking yourself a bigger question: Fidelity vs Vanguard.

Fidelity and Vanguard are two of the largest financial institutions in the world, often vying for employer 401(k) management customers.

I’ve been a customer of both. The main difference I’ve seen is that Fidelity has better user interfaces on desktop and mobile.

However, they are comparable when it comes to investment selection and fees.

Another significant difference is the company ownership structure. Vanguard is owned by its clients, so its best interests are aligned with clients.

Fidelity is owned by a wealthy family and the company employees. Ownership is about 50-50 between the two parties.

Therefore, some argue that Vanguard is better aligned with its customers than Fidelity. However, for Fidelity to compete with Vanguard, it must offer the same or similar products such as the index funds that Vanguard pioneered in the 1970s.

So for all intents and purposes, the company offerings are about the same. Each keeps costs very low if you invest in the right funds. FSKAX vs VTSAX both fit the mold of low-cost total market index funds.

My original employer (back in 1998) used Fidelity for its 401(k), and I’ve been a customer since.

I had another employer that used Vanguard, but I left that company.

Since my most recent employer uses Fidelity for their employer-sponsored plan, I transferred my account from Vanguard to Fidelity.

This was only because I already had multiple accounts at Fidelity and only one at Vanguard. Do not switch companies based on a fund preference.

My wife’s IRAs are also with Fidelity, and we’ve been completely satisfied.

Best Broker for Total Market ETFs if not Fidelity or Vanguard

Fidelity and Vanguard are excellent choices for long-term retirement investors. If your IRA or employer-sponsored plan is with either broker, you’re in good hands.

I recommend another broker for those looking for a more modern user experience that can also serve your banking and spending needs.

Long-term investors may prefer an online broker that’s better for dollar cost averaging and dividend reinvestment.

I’m a big fan of the online brokerage M1 Finance. M1 Finance is a reliable and robust, no-fee online broker for beginner to intermediate investors. It’s easy to get started.

As your investing skills and portfolio mature, M1 is one of the best platforms to scale. They also offer an integrated checking account and low borrowing rates. Read my complete M1 Finance review here.

M1 Finance does not offer mutual funds (ETFs are available). But it’s my favorite for everyday investing.

The platform is more intuitive than old-school brokers because it’s built on a modern technology platform.

You create portfolio “pies” that contain all the stocks and ETFs you want to own and in what percentages. Simply add a total market ETF to a pie and add funds to your account.

Learn More about M1 Finance

Conclusion

Deciding between FSKAX vs VTSAX comes down to where your money is. The funds are nearly identical, and nuance between the two should not influence your investment decisions.

If you already have a Fidelity account, buy FSKAX.

If you already have a Vanguard account, buy VTSAX.

Do not choose one or the other retirement broker based on the funds alone. Evaluate the companies and offerings as a whole before choosing the broker.

Online brokers are highly competitive, and both of these companies are excellent. So you can’t go wrong with either. I’ve tried both.

If you already have an account with another broker (not Fidelity or Vanguard) and still want to own a total market index fund, choose an ETF such as VTI or ITOT.

ETFs will give you the same coverage, performance, and low cost at any commission-free online broker.

Please reply with your questions regarding FSKAX vs VTSAX in the comments section below. Include any requests you have about adding more detail to this article.

Additional Resources

• VTSAX vs VFIAX
• VTSAX vs VTI
• VTI vs VOO
• FSKAX vs FXAIX

Disclosure: The author owns FSKAX, VTSAX, and VTI. The opinions expressed are solely those of the authors and do not reflect the views of M1. They are for informational purposes only and are not a recommendation of an investment strategy or to buy or sell any security in any account. They are also not research reports and are not intended to serve as the basis for any investment decision. Prior to making any investment decision, you are encouraged to consult your personal investment, legal, and tax advisors.