Wealthy PotFSKAX vs VTSAX: Two Total Market Funds, Two Index Makers
FSKAX and VTSAX are the total stock market index mutual funds of Fidelity and Vanguard. Each aims to own essentially every publicly traded U.S. company, weighted by size, so their portfolios are close to the same. The differences are cost, access and whose index they follow: FSKAX charges 0.015% with no minimum and tracks the Dow Jones U.S. Total Stock Market Index; VTSAX charges 0.04%, requires $3,000 and tracks the Morningstar US Total Market Index.
The Short Answer
- Same job: both hold the whole U.S. stock market.
- FSKAX is cheaper: 0.015% against 0.04%.
- FSKAX has no minimum; VTSAX needs $3,000.
- Different index providers: Dow Jones for FSKAX, Morningstar for VTSAX. Coverage is effectively the same.
FSKAX vs VTSAX Side by Side
| Feature | FSKAX | VTSAX |
|---|---|---|
| Full name | Fidelity Total Market Index Fund | Vanguard Morningstar Total Stock Market Index Fund Admiral Shares |
| Index | Dow Jones U.S. Total Stock Market Index | Morningstar US Total Market Index |
| Expense ratio | 0.015% | 0.04% |
| Minimum initial investment | $0 | $3,000 |
| Wrapper | Mutual fund | Mutual fund |
Different Index, Same Market
Both indexes try to capture the entire investable U.S. stock market, from the largest companies to small ones, and both weight by market value. The rulebooks differ at the edges, in exactly which small and thinly traded stocks qualify, but the giant companies that make up most of the value are the same in each. That is why total market funds from different providers track each other closely.
VTSAX's index used to be called the CRSP US Total Market Index. Morningstar acquired it in 2026 and renamed it, and Vanguard changed the fund's listed name to match. Nothing about what the fund owns changed with the name.
Cost and Access
FSKAX's fee is well under half of VTSAX's, a difference of 0.025% a year, or $25 on every $100,000. Its lack of a minimum also makes it easier to start small. But as with most same-market pairs, the practical decision is usually made by your brokerage: each fund is cheapest at its own company, and may carry a purchase fee or be unavailable elsewhere.
Both can generally be transferred in kind if you change brokers, so moving does not force a sale. That makes these two different from Fidelity's own FZROX, which is free but cannot be held outside Fidelity; see FSKAX vs FZROX.
Which One Fits You
- Choose FSKAX if you invest at Fidelity or want the lowest fee and no minimum.
- Choose VTSAX if you invest at Vanguard and meet the $3,000 minimum.
- Consider the ETF version if you want the same exposure at any broker: VTI is VTSAX's ETF share class. See VTSAX vs VTI.
- Do not hold both. They own the same market.
FAQ
Is FSKAX the same as VTSAX?
Nearly the same portfolio: both own the total U.S. stock market. They follow different indexes and charge different fees.
Which is cheaper, FSKAX or VTSAX?
FSKAX, at 0.015% a year, against VTSAX's 0.04%.
Does VTSAX have a minimum?
Yes, $3,000 for the Admiral shares. FSKAX has no minimum.
Why did VTSAX's name change?
Its index, formerly the CRSP US Total Market Index, is now the Morningstar US Total Market Index, and Vanguard updated the fund's name to match.
Should I switch from VTSAX to FSKAX for the lower fee?
In a retirement account there is no tax cost. In a taxable account, selling at a gain usually costs more than the fee saving.
This article is for general information and is not investment advice. Fund figures were taken from Fidelity's and Vanguard's published fund pages and can change; confirm current figures before you invest.