FNILX vs FZROX
Fidelity ZERO Large Cap Index Fund vs Fidelity ZERO Total Market Index Fund
Quick Verdict
FZROX delivered stronger 1-year returns. FZROX offers more diversification with 2,533 holdings.
Side-by-Side Comparison
| Metric | FNILX | FZROX | Winner |
|---|---|---|---|
| Expense Ratio | 0.00% | 0.00% | |
| AUM | - | $3.1B | |
| Dividend Yield | 0.92% | 0.93% | |
| Holdings | 512 | 2,533 | |
| YTD Return | +12.15% | +12.86% | |
| 1Y Return | +18.65% | +19.30% | |
| 3Y Return (annualized) | +20.65% | +20.26% | |
| 5Y Return (annualized) | +11.33% | +10.75% | |
| Volatility (annualized) | 15.4% | 15.6% | |
| Max Drawdown | -26.6% | -26.9% | |
| Fund Family | Fidelity Investments (US) | Fidelity Investments (US) | |
| Category | Equity | Equity | |
| Inception | Sep 13, 2018 | Aug 2, 2018 |
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 +18.65% while FZROX returned +19.30%. Year to date, FNILX is up 12.15% versus a gain of 12.86% for FZROX.
Over three years, FNILX compounded at +20.65% per year against +20.26% for FZROX; over five years the annualized figures are +11.33% and +10.75% respectively. Across the full 5-year window we track, FNILX has the edge at +11.33% annualized vs +10.75%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FZROX has been the more volatile fund, with annualized monthly volatility of 15.6% compared with 15.4% 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 worth weighing if you expect to sell during market stress rather than ride it out.
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 0.92% against 0.93% for FZROX.
Holdings Overlap
FNILX and FZROX share 504 holdings out of 2521 unique holdings combined, representing a 86.5% weight overlap.
High overlap means holding both may not provide much additional diversification.
Frequently Asked Questions
Which is cheaper, FNILX or FZROX?
FNILX has an expense ratio of 0.00% while FZROX charges 0.00%. They cost the same. On a $10,000 investment, that is $0 per year of difference.
Which performed better, FNILX or FZROX?
Over the past year FNILX returned +18.65% vs +19.30% for FZROX, so FZROX leads on 1-year performance. Over the longest common window we track (5 years), FNILX annualized +11.33% vs +10.75% for FZROX. Past performance does not guarantee future results.
Which is riskier, FNILX or FZROX?
FZROX has been the more volatile fund at 15.6% annualized versus 15.4% 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. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between FNILX and FZROX?
FNILX and FZROX share 504 common holdings with a 86.5% weight overlap. Combined, they hold 2521 unique securities.
Which pays a higher dividend, FNILX or FZROX?
FNILX yields 0.92% while FZROX yields 0.93%, so FZROX currently pays the higher dividend yield.
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