FZILX vs VYM
Fidelity ZERO International Index Fund vs Vanguard High Dividend Yield ETF
Which is better, FZILX or VYM?
Large Cap Blend against Large Cap Value.
FZILX has a lower expense ratio. FZILX led over 1Y and 3Y, VYM over 5Y and the full window. FZILX is less concentrated, with 14.8% of the fund in its ten largest positions against 26.1%.
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 | VYM |
|---|---|---|
| Expense Ratio | 0.00%Best | 0.04% |
| AUM | $12.3B | $81.6B |
| Dividend Yield | 2.27% | 2.22% |
| Holdings | 2,172 | 613 |
| YTD Price Return | +13.87%Best | +10.38% |
| 1Y Price Return | +18.23%Best | +13.42% |
| 3Y Price Return (annualized) | +16.86%Best | +14.30% |
| 5Y Price Return (annualized) | +6.49% | +8.65%Best |
| Volatility (annualized) | 15.3% | 14.0%Best |
| Max Drawdown | -32.3% | -17.5%Best |
| $10,000 over 5 years | $13,694 | $15,141Best |
| Top 10 Weight | 14.8%Best | 26.1% |
| Fund Family | Fidelity Investments (US) | Vanguard (US) |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Value |
| Inception | Aug 2, 2018 | Nov 10, 2006 |
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 VYM 2.22% on top.
Volatility and max drawdown are measured over the window both funds cover: Sep 17, 2021 to Sep 15, 2026 (5 years).
FZILX vs VYM 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 VYM Performance
Fidelity ZERO International Index Fund (FZILX) is a mutual fund from Fidelity Investments (US) and Vanguard High Dividend Yield ETF (VYM) is an ETF from Vanguard (US). Over the past year FZILX returned +18.23% while VYM returned +13.42%. Year to date, FZILX is up 13.87% versus a gain of 10.38% for VYM.
Over three years, FZILX compounded at +16.86% per year against +14.30% for VYM; over five years the annualized figures are +6.49% and +8.65% 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 14.0% for VYM. 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 -17.5% for VYM. Drawdown depth is what each fund did in the worst stretch of the window measured above.
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 VYM charges 0.04%. On a $10,000 position that is $0 vs $4 annually, a gap of $4 per year that compounds over a long holding period. On income, FZILX currently yields 2.27% against 2.22% for VYM.
Structure and taxes
FZILX is a mutual fund and VYM 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
0.2% of FZILX's money is in holdings VYM also owns. 1.2% of VYM's money is in holdings FZILX also owns.
VYM and FZILX share little of their money.
The two holdings books were reported 181 days apart, FZILX as of Jan 31, 2026 and VYM as of Jul 31, 2026, so some of the difference between them is the time between the two reports rather than the funds.
6 positions in common, counted across the 2,141 positions we hold weights for in FZILX and 557 in VYM, against full books of 2,172 and 613.
What only one of them owns
Our book lists 523 positions for VYM that do not appear in our book for FZILX (95.9% of the fund), and 46 for FZILX that do not appear in VYM (5.7%).
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.
Top Shared Holdings
| Stock | Weight in FZILX | Weight in VYM | Difference |
|---|---|---|---|
| ORCLOracle Corp - Common | 0.01% | 0.90% | 0.89% |
| BAPCredicorp Ltd - Common | 0.07% | 0.11% | 0.04% |
| HALHalliburton Co. | 0.03% | 0.11% | 0.08% |
| BGBunge Global Sa Common Shares | 0.03% | 0.06% | 0.03% |
| TIGO:LUMillicom International Cellular Sa Common Stock | 0.02% | 0.04% | 0.02% |
| GLNGGolar Lng Limited Ordinary Shares | 0.01% | 0.02% | 0.01% |
You are not choosing between two funds in isolation.
Whichever of FZILX and VYM 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 VYM?
FZILX has an expense ratio of 0.00% while VYM charges 0.04%. FZILX is the cheaper option, by $4 a year on a $10,000 investment.
Which performed better, FZILX or VYM?
Over the past year FZILX returned +18.23% vs +13.42% for VYM, so FZILX leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FZILX or VYM?
FZILX has been the more volatile fund at 15.3% annualized versus 14.0% for VYM. Worst drawdown: FZILX -32.3% vs VYM -17.5%.
Should I hold both FZILX and VYM?
FZILX and VYM have a monthly-return correlation of 0.79, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between FZILX and VYM?
1.2% of VYM's money is in holdings FZILX also owns. 1.2% of VYM's is in holdings FZILX also owns. They hold 6 positions in common, counted across the 2,141 positions we hold weights for in FZILX and 557 in VYM.
Which pays a higher dividend, FZILX or VYM?
FZILX yields 2.27% while VYM yields 2.22%, so FZILX currently pays the higher dividend yield.
Is it better to hold FZILX or VYM in a taxable account?
VYM 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 VYM better than FZILX?
FZILX has a lower expense ratio. FZILX led over 1Y and 3Y, VYM over 5Y and the full window. FZILX is less concentrated, with 14.8% of the fund in its ten largest positions against 26.1%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.