Compare/Updated Oct 26, 2026, refreshed every trading day
FZROX vs FSKAX
Fidelity ZERO Total Market Index Fund against Fidelity Total Market Index Fund: 4 years of returns, risk and today’s technical read, from Kavout’s own data.
FSKAX did slightly better over the period: $1,000 invested on October 28, 2022 grew to $1,997, versus $1,985 for FZROX. FSKAX also led over three years (+80.0% versus +78.6%) and had modestly lower 12-month volatility (12.9% versus 13.1%) and a less severe maximum drawdown (-19.4% versus -19.8%). The difference was small: both funds had identical 1-month and 3-month returns, while FZROX led slightly over six months and YTD. Their daily returns were extremely closely correlated at 0.989, with a typical monthly performance gap of only 0.03 percentage points. FSKAX won 21 of the last 48 months, while FZROX won 27, showing that neither fund consistently led month to month. Overall, FSKAX delivered the better cumulative and risk-adjusted result, but the practical difference was minimal.
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Head to head
Which has returned more, FZROX or FSKAX?
FZROX beat FSKAX in 27 of the last 48 months; FSKAX won the other 21. The typical monthly gap was 0.03 points.
Total return by period
Which is riskier?
FZROX: Dec 4, 2024 to Apr 8, 2025; FSKAX: Feb 19, 2025 to Apr 8, 2025
- 0.989
- correlation of daily moves, 4 years
- 0.99
- FZROX move per 1% in FSKAX
- 0.973
- correlation, last 12 months
Month by month
Of the last 48 months. The typical gap was 0.03 points.
When did they diverge?
| Month | FZROX | FSKAX | Gap |
|---|---|---|---|
| December 2024 | -4.0% | -3.0% | -1.04 pts |
| July 2026 | -0.4% | -0.5% | +0.12 pts |
| November 2025 | +0.3% | +0.2% | +0.09 pts |
| October 2026 | -0.3% | -0.4% | +0.08 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 FZROX and FSKAX?
- Price
- $26.55
- Price
- $209.46
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