FNILX vs FXAIX
Fidelity ZERO Large Cap Index Fund vs Fidelity 500 Index Fund
Which is better, FNILX or FXAIX?
Large Cap Growth against Large Cap Blend.
FNILX has a lower expense ratio. FNILX led over 3Y, FXAIX over 1Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.97. FNILX is less concentrated, with 35.6% 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 | FNILX | FXAIX |
|---|---|---|
| Expense Ratio | 0.00%Best | 0.02% |
| AUM | - | $594.0B |
| Dividend Yield | 0.90% | 1.06% |
| Holdings | 508 | 507 |
| YTD Price Return | +11.74%Best | +11.37% |
| 1Y Price Return | +14.89% | +15.18%Best |
| 3Y Price Return (annualized) | +20.02%Best | +19.65% |
| 5Y Price Return (annualized) | +11.21% | +11.26%Best |
| Volatility (annualized) | 15.3%Best | 15.4% |
| Max Drawdown | -26.6% | -25.4%Best |
| $10,000 over 5 years | $17,011 | $17,049Best |
| Top 10 Weight | 35.6%Best | 36.4% |
| Fund Family | Fidelity Investments (US) | Fidelity Investments (US) |
| Category | Equity | Equity |
| Style | Large Cap Growth | Large Cap Blend |
| Inception | Sep 13, 2018 | May 4, 2011 |
Returns are price returns and exclude distributions, because our data feed carries no adjusted close for FNILX or FXAIX. Both funds are measured the same way, so the comparison holds. FNILX yields 0.90% and FXAIX 1.06% on top.
Volatility and max drawdown are measured over the window both funds cover: Sep 16, 2021 to Sep 14, 2026 (5 years).
FNILX 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.
FNILX vs FXAIX Performance
Fidelity ZERO Large Cap Index Fund (FNILX) 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 FNILX returned +14.89% while FXAIX returned +15.18%. Year to date, FNILX is up 11.74% versus a gain of 11.37% for FXAIX.
Over three years, FNILX compounded at +20.02% per year against +19.65% for FXAIX; over five years the annualized figures are +11.21% and +11.26% respectively.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FXAIX has been the more volatile fund, with annualized monthly volatility of 15.4% compared with 15.3% for FNILX. 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 -26.6% for FNILX 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 0.97. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
FNILX charges 0.00% per year while FXAIX charges 0.02%. On a $10,000 position that is $0 vs $2 annually, a gap of $2 per year that compounds over a long holding period. On income, FNILX currently yields 0.90% against 1.06% for FXAIX.
Holdings Overlap
96.9% of FNILX's money is in holdings FXAIX also owns. 98.5% of FXAIX's money is in holdings FNILX also owns.
Most of FXAIX is already inside FNILX. Owning both mostly buys the same companies twice.
438 positions in common, counted across the 506 positions we hold weights for in FNILX and 508 in FXAIX, against full books of 508 and 507.
What only one of them owns
Our book lists 63 positions for FXAIX that do not appear in our book for FNILX (1.1% of the fund), and 56 for FNILX that do not appear in FXAIX (2.6%).
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 FNILX | Weight in FXAIX | Difference |
|---|---|---|---|
| NVDANvidia Corp | 7.39% | 7.51% | 0.12% |
| AAPLApple, Inc | 6.46% | 6.59% | 0.13% |
| MSFTMicrosoft Corp | 4.21% | 4.30% | 0.09% |
| AMZNAmazon.Com Inc | 3.54% | 3.62% | 0.08% |
| GOOGLAlphabet Inc,class A | 3.16% | 3.25% | 0.09% |
| AVGOBroadcom Inc | 2.72% | 2.77% | 0.05% |
| GOOGAlphabet Inc | 2.51% | 2.59% | 0.08% |
| MUMicron Technology, Inc. | 1.98% | 2.02% | 0.04% |
| METAMeta Platforms Inc | 1.87% | 1.92% | 0.05% |
| TSLATesla Inc | 1.80% | 1.84% | 0.04% |
98.5% of FXAIX is already inside FNILX.
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, FNILX or FXAIX?
FNILX has an expense ratio of 0.00% while FXAIX charges 0.02%. FNILX is the cheaper option, by $2 a year on a $10,000 investment.
Which performed better, FNILX or FXAIX?
Over the past year FNILX returned +14.89% vs +15.18% 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, FNILX or FXAIX?
FXAIX has been the more volatile fund at 15.4% annualized versus 15.3% for FNILX. Worst drawdown: FNILX -26.6% vs FXAIX -25.4%.
Should I hold both FNILX and FXAIX?
FNILX and FXAIX have a monthly-return correlation of 0.97, 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 FNILX and FXAIX?
98.5% of FXAIX's money is in holdings FNILX also owns. 98.5% of FXAIX's is in holdings FNILX also owns. They hold 438 positions in common, counted across the 506 positions we hold weights for in FNILX and 508 in FXAIX.
Which pays a higher dividend, FNILX or FXAIX?
FNILX yields 0.90% while FXAIX yields 1.06%, so FXAIX currently pays the higher dividend yield.
Is FXAIX better than FNILX?
FNILX has a lower expense ratio. FNILX led over 3Y, FXAIX over 1Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.97. FNILX is less concentrated, with 35.6% 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.