FZILX vs IVV
Fidelity ZERO International Index Fund vs iShares Core S&P 500 ETF
Quick Verdict
FZILX has a lower expense ratio. FZILX delivered stronger 1-year returns. FZILX offers more diversification with 2,172 holdings.
Side-by-Side Comparison
| Metric | FZILX | IVV | Winner |
|---|---|---|---|
| Expense Ratio | 0.00% | 0.03% | |
| AUM | $12.3B | $907.0B | |
| Dividend Yield | 2.35% | 1.10% | |
| Holdings | 2,172 | 508 | |
| YTD Return | +16.76% | +12.39% | |
| 1Y Return | +25.32% | +20.24% | |
| 3Y Return (annualized) | +18.43% | +21.78% | |
| 5Y Return (annualized) | +7.07% | +12.84% | |
| Volatility (annualized) | 15.4% | 15.1% | |
| Max Drawdown | -32.8% | -56.5% | |
| Fund Family | Fidelity Investments (US) | iShares by BlackRock (US) | |
| Category | Equity | Equity | |
| Inception | Aug 2, 2018 | May 15, 2000 |
FZILX vs IVV Performance
Fidelity ZERO International Index Fund (FZILX) is a mutual fund from Fidelity Investments (US) and iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US). Over the past year FZILX returned +25.32% while IVV returned +20.24%. Year to date, FZILX is up 16.76% versus a gain of 12.39% for IVV.
Over three years, FZILX compounded at +18.43% per year against +21.78% for IVV; over five years the annualized figures are +7.07% and +12.84% respectively. Across the full 5-year window we track, FZILX has the edge at +7.07% annualized vs +6.98%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FZILX has been the more volatile fund, with annualized monthly volatility of 15.4% compared with 15.1% for IVV. 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 -32.8% for FZILX and -56.5% for IVV. 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 0.79. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
FZILX charges 0.00% per year while IVV 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, FZILX currently yields 2.35% against 1.10% for IVV.
Holdings Overlap
FZILX and IVV share 4 holdings out of 2642 unique holdings combined, representing a 0.1% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, FZILX or IVV?
FZILX has an expense ratio of 0.00% while IVV charges 0.03%. FZILX is the cheaper option. On a $10,000 investment, that is $3 per year of difference.
Which performed better, FZILX or IVV?
Over the past year FZILX returned +25.32% vs +20.24% for IVV, so FZILX leads on 1-year performance. Over the longest common window we track (5 years), FZILX annualized +7.07% vs +6.98% for IVV. Past performance does not guarantee future results.
Which is riskier, FZILX or IVV?
FZILX has been the more volatile fund at 15.4% annualized versus 15.1% for IVV. Worst drawdown: FZILX -32.8% vs IVV -56.5%.
Should I hold both FZILX and IVV?
FZILX and IVV have a monthly-return correlation of 0.79, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between FZILX and IVV?
FZILX and IVV share 4 common holdings with a 0.1% weight overlap. Combined, they hold 2642 unique securities.
Which pays a higher dividend, FZILX or IVV?
FZILX yields 2.35% while IVV yields 1.10%, so FZILX currently pays the higher dividend yield.
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