Vic pen should act just like most ball point pen, they shouldn't fade or feather like fountain pen.
But just out of curiosity, I did this little test. And after couple of minutes, there is no side of feathering/fading, and it looks fine even after I've tried to smudge it.
Depends on the fountain pen ink. I have a couple that are unaffected by water after it dries on cellulose (wood) paper. One I have is even pretty much unaffected by industrial strength bleach after it dries*!

(*per a couple you tube reviews where they tested against water, bleach, and other things in an attempt to lift the ink from a page.)
@doaman
The ink Victorinox uses is a standard ballpoint ink, so it's waterproof.
Like any other ballpoint pen ink, it will fade over time when/if exposed to sunlight. (a sign in the window, or on a exterior door, for example.)
I had a Vic "Signature" (same as the SD Classic, but has a blue retractable pen instead of the toothpick) that I carried for about 12 years.
Admittedly, I did not use the pen much (like I said; "blue ink". I needed black and red ink at work.) However, even after 11 or 12 years of daily carry, and occasional use of the pen, the
original ink cartridge/refill wrote fine. It never dried out ... unlike some of my other ballpoints that could be ... "difficult" ... to start ... sometimes requiring a bit of heat from my Zippo/BiC or a match before they would write.