FNILX vs FZROX
Fidelity ZERO Large Cap Index Fund vs Fidelity ZERO Total Market Index Fund
Which is better, FNILX or FZROX?
Large Cap Growth against Large Cap Blend.
FNILX led over 3Y, 5Y and the full window, FZROX over 1Y. The two have moved almost in lockstep, correlation 1.00. FZROX is less concentrated, with 32.1% of the fund in its ten largest positions against 35.6%.
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 | FZROX |
|---|---|---|
| Expense Ratio | 0.00%Tie | 0.00%Tie |
| AUM | - | $3.1B |
| Dividend Yield | 0.90% | 0.90% |
| Holdings | 508 | 2,689 |
| YTD Price Return | +13.05% | +13.20%Best |
| 1Y Price Return | +15.79% | +15.94%Best |
| 3Y Price Return (annualized) | +21.52%Best | +20.99% |
| 5Y Price Return (annualized) | +11.65%Best | +10.87% |
| Volatility (annualized) | 15.2%Best | 15.4% |
| Max Drawdown | -26.6%Best | -26.9% |
| $10,000 over 5 years | $17,350Best | $16,752 |
| Top 10 Weight | 35.6% | 32.1%Best |
| Fund Family | Fidelity Investments (US) | Fidelity Investments (US) |
| Category | Equity | Equity |
| Style | Large Cap Growth | Large Cap Blend |
| Inception | Sep 13, 2018 | Aug 2, 2018 |
Returns are price returns and exclude distributions, because our data feed carries no adjusted close for FNILX or FZROX. Both funds are measured the same way, so the comparison holds. FNILX yields 0.90% and FZROX 0.90% on top.
Volatility and max drawdown are measured over the window both funds cover: Sep 27, 2021 to Sep 24, 2026 (5 years).
FNILX vs FZROX 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 FZROX Performance
Fidelity ZERO Large Cap Index Fund (FNILX) is a mutual fund from Fidelity Investments (US) and Fidelity ZERO Total Market Index Fund (FZROX) is a mutual fund from Fidelity Investments (US). Over the past year FNILX returned +15.79% while FZROX returned +15.94%. Year to date, FNILX is up 13.05% versus a gain of 13.20% for FZROX.
Over three years, FNILX compounded at +21.52% per year against +20.99% for FZROX; over five years the annualized figures are +11.65% and +10.87% respectively.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FZROX has been the more volatile fund, with annualized monthly volatility of 15.4% compared with 15.2% 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 -26.9% for FZROX. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 1.00. 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 FZROX charges 0.00%. On a $10,000 position that is $0 vs $0 annually. On income, FNILX currently yields 0.90% against 0.90% for FZROX.
Holdings Overlap
99.7% of FNILX's money is in holdings FZROX also owns. 89.8% of FZROX's money is in holdings FNILX also owns.
Most of FNILX is already inside FZROX. Owning both mostly buys the same companies twice.
500 positions in common, counted across the 506 positions we hold weights for in FNILX and 2,651 in FZROX, against full books of 508 and 2,689.
What only one of them owns
Our book lists 672 positions for FZROX that do not appear in our book for FNILX (8.4% of the fund), and 1 for FNILX that do not appear in FZROX (0.1%).
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 FZROX | Difference |
|---|---|---|---|
| NVDANvidia Corp | 7.39% | 6.67% | 0.72% |
| AAPLApple, Inc | 6.46% | 5.82% | 0.64% |
| MSFTMicrosoft Corp | 4.21% | 3.80% | 0.41% |
| AMZNAmazon.Com Inc | 3.54% | 3.19% | 0.35% |
| GOOGLAlphabet Inc,class A | 3.16% | 2.85% | 0.31% |
| AVGOBroadcom Inc | 2.72% | 2.46% | 0.26% |
| GOOGAlphabet Inc | 2.51% | 2.27% | 0.24% |
| MUMicron Technology, Inc. | 1.98% | 1.78% | 0.20% |
| METAMeta Platforms Inc | 1.87% | 1.69% | 0.18% |
| TSLATesla Inc | 1.80% | 1.62% | 0.18% |
99.7% of FNILX is already inside FZROX.
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 FZROX?
FNILX has an expense ratio of 0.00% while FZROX charges 0.00%. At the precision these are quoted to, they cost the same.
Which performed better, FNILX or FZROX?
Over the past year FNILX returned +15.79% vs +15.94% for FZROX, so FZROX leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FNILX or FZROX?
FZROX has been the more volatile fund at 15.4% annualized versus 15.2% for FNILX. Worst drawdown: FNILX -26.6% vs FZROX -26.9%.
Should I hold both FNILX and FZROX?
FNILX and FZROX have a monthly-return correlation of 1.00, 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 FZROX?
99.7% of FNILX's money is in holdings FZROX also owns. 89.8% of FZROX's is in holdings FNILX also owns. They hold 500 positions in common, counted across the 506 positions we hold weights for in FNILX and 2,651 in FZROX.
Which pays a higher dividend, FNILX or FZROX?
FNILX yields 0.90% while FZROX yields 0.90%, so FZROX currently pays the higher dividend yield.
Is FZROX better than FNILX?
FNILX led over 3Y, 5Y and the full window, FZROX over 1Y. The two have moved almost in lockstep, correlation 1.00. FZROX is less concentrated, with 32.1% of the fund in its ten largest positions against 35.6%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.