Compare/Updated Oct 26, 2026, refreshed every trading day
FNILX vs FZROX
Fidelity ZERO Large Cap Index Fund against Fidelity ZERO Total Market Index Fund: 4 years of returns, risk and today’s technical read, from Kavout’s own data.
FNILX did better over the comparison period: $1,000 invested on Oct 28, 2022 would be worth $2,039 versus $1,985 for FZROX, a difference of $54. FNILX also led over three years, returning 80.4% versus 78.6%, and won 31 of the last 48 months. The advantage came with slightly lower risk: 12-month volatility was 12.9% for FNILX versus 13.1% for FZROX, while its worst drawdown was -19.1% compared with -19.8%. The funds remained extremely similar, with 0.993 correlation of daily moves and a typical monthly performance gap of only 0.22 percentage points. FZROX performed better in some shorter periods, including YTD and one year, so FNILX’s edge was meaningful over the stated period but not consistently present across every timeframe.
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Head to head
Which has returned more, FNILX or FZROX?
FNILX beat FZROX in 31 of the last 48 months; FZROX won the other 17. The typical monthly gap was 0.22 points.
Total return by period
Which is riskier?
FNILX: Dec 6, 2024 to Apr 8, 2025; FZROX: Dec 4, 2024 to Apr 8, 2025
- 0.993
- correlation of daily moves, 4 years
- 0.98
- FNILX move per 1% in FZROX
- 0.986
- correlation, last 12 months
Month by month
Of the last 48 months. The typical gap was 0.22 points.
When did they diverge?
| Month | FNILX | FZROX | Gap |
|---|---|---|---|
| March 2023 | +3.7% | +2.6% | +1.01 pts |
| December 2023 | +4.6% | +5.3% | -0.72 pts |
| July 2024 | +1.1% | +1.8% | -0.67 pts |
| December 2024 | -3.5% | -4.0% | +0.59 pts |
Where the numbers come from. 1000 daily adjusted closes per fund from the Kavout market-data API, dividends included. Signals and indicators are Kavout’s own, refreshed nightly. Every figure is calculated from those adjusted closes.
Holdings and fees
What do you actually own with FNILX and FZROX?
- Price
- $27.34
- Price
- $26.55
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