FNILX vs VTI
Fidelity ZERO Large Cap Index Fund vs Vanguard Morningstar Total Stock Market ETF
Quick Verdict
FNILX has a lower expense ratio. VTI delivered stronger 1-year returns. VTI offers more diversification with 3,543 holdings.
Side-by-Side Comparison
| Metric | FNILX | VTI | Winner |
|---|---|---|---|
| Expense Ratio | 0.00% | 0.03% | |
| AUM | - | $666.9B | |
| Dividend Yield | 0.92% | 1.07% | |
| Holdings | 512 | 3,543 | |
| YTD Return | +11.98% | +13.14% | |
| 1Y Return | +19.30% | +22.35% | |
| 3Y Return (annualized) | +20.67% | +21.83% | |
| 5Y Return (annualized) | +11.28% | +12.01% | |
| Volatility (annualized) | 15.4% | 15.3% | |
| Max Drawdown | -26.6% | -56.6% | |
| Fund Family | Fidelity Investments (US) | Vanguard (US) | |
| Category | Equity | Equity | |
| Inception | Sep 13, 2018 | May 24, 2001 |
FNILX vs VTI Performance
Fidelity ZERO Large Cap Index Fund (FNILX) is a mutual fund from Fidelity Investments (US) and Vanguard Morningstar Total Stock Market ETF (VTI) is a ETF from Vanguard (US). Over the past year FNILX returned +19.30% while VTI returned +22.35%. Year to date, FNILX is up 11.98% versus a gain of 13.14% for VTI.
Over three years, FNILX compounded at +20.67% per year against +21.83% for VTI; over five years the annualized figures are +11.28% and +12.01% respectively. Across the full 5-year window we track, FNILX has the edge at +11.28% annualized vs +8.09%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FNILX has been the more volatile fund, with annualized monthly volatility of 15.4% compared with 15.3% for VTI. 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 -56.6% for VTI. 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 0.95. 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 VTI charges 0.03%. On a $10,000 position that is $0 vs $3 annually, a gap of $3 per year that compounds over a long holding period. On income, FNILX currently yields 0.92% against 1.07% for VTI.
Holdings Overlap
FNILX and VTI share 466 holdings out of 2832 unique holdings combined, representing a 80.8% weight overlap.
High overlap means holding both may not provide much additional diversification.
Frequently Asked Questions
Which is cheaper, FNILX or VTI?
FNILX has an expense ratio of 0.00% while VTI charges 0.03%. FNILX is the cheaper option. On a $10,000 investment, that is $3 per year of difference.
Which performed better, FNILX or VTI?
Over the past year FNILX returned +19.30% vs +22.35% for VTI, so VTI leads on 1-year performance. Over the longest common window we track (5 years), FNILX annualized +11.28% vs +8.09% for VTI. Past performance does not guarantee future results.
Which is riskier, FNILX or VTI?
FNILX has been the more volatile fund at 15.4% annualized versus 15.3% for VTI. Worst drawdown: FNILX -26.6% vs VTI -56.6%.
Should I hold both FNILX and VTI?
FNILX and VTI have a monthly-return correlation of 0.95, 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 VTI?
FNILX and VTI share 466 common holdings with a 80.8% weight overlap. Combined, they hold 2832 unique securities.
Which pays a higher dividend, FNILX or VTI?
FNILX yields 0.92% while VTI yields 1.07%, so VTI currently pays the higher dividend yield.
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