FZILX vs SCHD
Fidelity ZERO International Index Fund vs Schwab US Dividend Equity ETF
Which is better, FZILX or SCHD?
Large Cap Blend against Large Cap Value.
FZILX has a lower expense ratio. FZILX led over 3Y, 5Y and the full window, SCHD over 1Y. FZILX is less concentrated, with 14.8% of the fund in its ten largest positions against 41.8%.
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 | FZILX | SCHD |
|---|---|---|
| Expense Ratio | 0.00%Best | 0.06% |
| AUM | $12.3B | $112.1B |
| Dividend Yield | 2.27% | 3.00% |
| Holdings | 2,172 | 103 |
| YTD Price Return | +15.88% | +23.84%Best |
| 1Y Price Return | +20.91% | +25.60%Best |
| 3Y Price Return (annualized) | +17.62%Best | +11.86% |
| 5Y Price Return (annualized) | +6.62%Best | +6.31% |
| Volatility (annualized) | 15.3% | 15.2%Best |
| Max Drawdown | -32.3% | -18.9%Best |
| $10,000 over 5 years | $13,778Best | $13,579 |
| Top 10 Weight | 14.8%Best | 41.8% |
| Fund Family | Fidelity Investments (US) | Charles Schwab Asset Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Value |
| Inception | Aug 2, 2018 | Oct 20, 2011 |
Returns are price returns and exclude distributions, because our data feed carries no adjusted close for FZILX. Both funds are measured the same way, so the comparison holds. FZILX yields 2.27% and SCHD 3.00% on top.
Volatility and max drawdown are measured over the window both funds cover: Sep 15, 2021 to Sep 11, 2026 (5 years).
FZILX vs SCHD 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.
FZILX vs SCHD Performance
Fidelity ZERO International Index Fund (FZILX) is a mutual fund from Fidelity Investments (US) and Schwab US Dividend Equity ETF (SCHD) is an ETF from Charles Schwab Asset Management. Over the past year FZILX returned +20.91% while SCHD returned +25.60%. Year to date, FZILX is up 15.88% versus a gain of 23.84% for SCHD.
Over three years, FZILX compounded at +17.62% per year against +11.86% for SCHD; over five years the annualized figures are +6.62% and +6.31% respectively.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FZILX has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 15.2% for SCHD. 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 -32.3% for FZILX and -18.9% for SCHD. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.72. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
FZILX charges 0.00% per year while SCHD charges 0.06%. On a $10,000 position that is $0 vs $6 annually, a gap of $6 per year that compounds over a long holding period. On income, FZILX currently yields 2.27% against 3.00% for SCHD.
Structure and taxes
FZILX is a mutual fund and SCHD is an ETF. A mutual fund prices once a day at net asset value and may carry a purchase minimum. An ETF trades through the day at whatever the market pays for it.
In a taxable account the difference that usually matters is distributions. An ETF can meet redemptions in kind, so it rarely has to sell holdings and rarely passes a capital gain to the people who held it; a mutual fund that sells holdings to meet redemptions can distribute a realised gain at year end to everyone still in the fund, whether or not they sold anything themselves. In a tax-deferred account that difference largely disappears. Both are descriptions of how the two wrappers work, not a recommendation.
Tax-loss harvesting works on either wrapper.
Holdings Overlap
We hold position weights for 2,141 holdings in FZILX and 100 in SCHD, totalling 100.2% and 100.0% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
The two holdings books were reported 212 days apart, FZILX as of Jan 31, 2026 and SCHD as of Aug 31, 2026, so some of the difference between them is the time between the two reports rather than the funds.
0 positions in common, counted across the 2,141 positions we hold weights for in FZILX and 100 in SCHD, against full books of 2,172 and 103.
What only one of them owns
Our book lists 99 positions for SCHD that do not appear in our book for FZILX (99.9% of the fund), and 51 for FZILX that do not appear in SCHD (5.9%).
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.
You are not choosing between two funds in isolation.
Whichever of FZILX and SCHD you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, FZILX or SCHD?
FZILX has an expense ratio of 0.00% while SCHD charges 0.06%. FZILX is the cheaper option, by $6 a year on a $10,000 investment.
Which performed better, FZILX or SCHD?
Over the past year FZILX returned +20.91% vs +25.60% for SCHD, so SCHD leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FZILX or SCHD?
FZILX has been the more volatile fund at 15.3% annualized versus 15.2% for SCHD. Worst drawdown: FZILX -32.3% vs SCHD -18.9%.
Should I hold both FZILX and SCHD?
FZILX and SCHD have a monthly-return correlation of 0.72, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, FZILX or SCHD?
FZILX yields 2.27% while SCHD yields 3.00%, so SCHD currently pays the higher dividend yield.
Is it better to hold FZILX or SCHD in a taxable account?
SCHD is an ETF and FZILX is a mutual fund. An ETF can meet redemptions in kind, so it rarely distributes a capital gain to the people holding it. A mutual fund that sells holdings to meet redemptions can pass a realised gain to every holder at year end. In a tax-deferred account that difference largely disappears. This is information, not a recommendation.
Is SCHD better than FZILX?
FZILX has a lower expense ratio. FZILX led over 3Y, 5Y and the full window, SCHD over 1Y. FZILX is less concentrated, with 14.8% of the fund in its ten largest positions against 41.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.