FSKAX vs FZROX
Fidelity Total Market Index Fund vs Fidelity ZERO Total Market Index Fund
Quick Verdict
FZROX has a lower expense ratio. FZROX delivered stronger 1-year returns. FSKAX offers more diversification with 3,773 holdings.
Side-by-Side Comparison
| Metric | FSKAX | FZROX | Winner |
|---|---|---|---|
| Expense Ratio | 0.02% | 0.00% | |
| AUM | $99.4B | $3.1B | |
| Dividend Yield | 0.95% | 0.93% | |
| Holdings | 3,773 | 2,533 | |
| YTD Return | +12.65% | +12.86% | |
| 1Y Return | +19.06% | +19.30% | |
| 3Y Return (annualized) | +20.12% | +20.26% | |
| 5Y Return (annualized) | +10.52% | +10.75% | |
| Volatility (annualized) | 16.1% | 15.6% | |
| Max Drawdown | -26.0% | -26.9% | |
| Fund Family | Fidelity Investments (US) | Fidelity Investments (US) | |
| Category | Equity | Equity | |
| Inception | Sep 8, 2011 | Aug 2, 2018 |
FSKAX vs FZROX Performance
Fidelity Total Market Index Fund (FSKAX) 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 FSKAX returned +19.06% while FZROX returned +19.30%. Year to date, FSKAX is up 12.65% versus a gain of 12.86% for FZROX.
Over three years, FSKAX compounded at +20.12% per year against +20.26% for FZROX; over five years the annualized figures are +10.52% and +10.75% respectively. Across the full 5-year window we track, FZROX has the edge at +10.75% annualized vs +10.52%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FSKAX has been the more volatile fund, with annualized monthly volatility of 16.1% compared with 15.6% for FZROX. 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 -26.0% for FSKAX 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 0.97. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
FSKAX charges 0.02% per year while FZROX charges 0.00%. On a $10,000 position that is $2 vs $0 annually, a gap of $2 per year that compounds over a long holding period. On income, FSKAX currently yields 0.95% against 0.93% for FZROX.
Holdings Overlap
FSKAX and FZROX share 2475 holdings out of 3728 unique holdings combined, representing a 92.1% weight overlap.
High overlap means holding both may not provide much additional diversification.
Frequently Asked Questions
Which is cheaper, FSKAX or FZROX?
FSKAX has an expense ratio of 0.02% while FZROX charges 0.00%. FZROX is the cheaper option. On a $10,000 investment, that is $2 per year of difference.
Which performed better, FSKAX or FZROX?
Over the past year FSKAX returned +19.06% vs +19.30% for FZROX, so FZROX leads on 1-year performance. Over the longest common window we track (5 years), FSKAX annualized +10.52% vs +10.75% for FZROX. Past performance does not guarantee future results.
Which is riskier, FSKAX or FZROX?
FSKAX has been the more volatile fund at 16.1% annualized versus 15.6% for FZROX. Worst drawdown: FSKAX -26.0% vs FZROX -26.9%.
Should I hold both FSKAX and FZROX?
FSKAX and FZROX have a monthly-return correlation of 0.97, 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 FSKAX and FZROX?
FSKAX and FZROX share 2475 common holdings with a 92.1% weight overlap. Combined, they hold 3728 unique securities.
Which pays a higher dividend, FSKAX or FZROX?
FSKAX yields 0.95% while FZROX yields 0.93%, so FSKAX currently pays the higher dividend yield.
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