FZILX vs SPY
Fidelity ZERO International Index Fund vs State Street SPDR S&P 500 ETF Trust
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 | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.00% | 0.09% | |
| AUM | $12.3B | $821.1B | |
| Dividend Yield | 2.35% | 1.01% | |
| Holdings | 2,172 | 505 | |
| YTD Return | +16.76% | +12.68% | |
| 1Y Return | +25.32% | +21.82% | |
| 3Y Return (annualized) | +18.43% | +21.98% | |
| 5Y Return (annualized) | +7.29% | +12.89% | |
| Volatility (annualized) | 15.4% | 15.3% | |
| Max Drawdown | -32.8% | -56.5% | |
| Fund Family | Fidelity Investments (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Aug 2, 2018 | Jan 22, 1993 |
FZILX vs SPY Performance
Fidelity ZERO International Index Fund (FZILX) is a mutual fund from Fidelity Investments (US) and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year FZILX returned +25.32% while SPY returned +21.82%. Year to date, FZILX is up 16.76% versus a gain of 12.68% for SPY.
Over three years, FZILX compounded at +18.43% per year against +21.98% for SPY; over five years the annualized figures are +7.29% and +12.89% respectively. Across the full 5-year window we track, SPY has the edge at +8.81% annualized vs +7.29%. 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 15.3% for SPY. 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 SPY. 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 SPY charges 0.09%. On a $10,000 position that is $0 vs $9 annually, a gap of $9 per year that compounds over a long holding period. On income, FZILX currently yields 2.35% against 1.01% for SPY.
Holdings Overlap
FZILX and SPY share 4 holdings out of 2641 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 SPY?
FZILX has an expense ratio of 0.00% while SPY charges 0.09%. FZILX is the cheaper option. On a $10,000 investment, that is $9 per year of difference.
Which performed better, FZILX or SPY?
Over the past year FZILX returned +25.32% vs +21.82% for SPY, so FZILX leads on 1-year performance. Over the longest common window we track (5 years), FZILX annualized +7.29% vs +8.81% for SPY. Past performance does not guarantee future results.
Which is riskier, FZILX or SPY?
FZILX has been the more volatile fund at 15.4% annualized versus 15.3% for SPY. Worst drawdown: FZILX -32.8% vs SPY -56.5%.
Should I hold both FZILX and SPY?
FZILX and SPY 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 SPY?
FZILX and SPY share 4 common holdings with a 0.1% weight overlap. Combined, they hold 2641 unique securities.
Which pays a higher dividend, FZILX or SPY?
FZILX yields 2.35% while SPY yields 1.01%, so FZILX currently pays the higher dividend yield.
Popular Fund Comparisons
Get Full ETF Analytics
Access complete holdings data, overlap analysis, screener tools, and more with FundXLS.