AVVIY vs. FZILX

Last updated Jun 24, 2026

AVVIY (Aviva plc) is a stock, while FZILX (Fidelity ZERO International Index Fund) is Foreign Large Cap Equities fund tracking the Fidelity Global ex U.S. Index. Over the past 5 years, AVVIY returned 15.40%/yr vs 9.67%/yr for FZILX. A 0.61 correlation means they provide meaningful diversification when combined.

Performance

AVVIY vs. FZILX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Aviva plc (AVVIY) and Fidelity ZERO International Index Fund (FZILX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AVVIY achieves a -5.12% return, which is significantly lower than FZILX's 16.56% return.

AVVIY

• 1D: -0.32%
• 1M: 1.82%
• YTD: -5.12%
• 6M: -4.71%
• 1Y: 6.95%
• 3Y*: 28.77%
• 5Y*: 15.40%
• 10Y*: 11.70%

FZILX

• 1D: 0.06%
• 1M: 3.43%
• YTD: 16.56%
• 6M: 16.56%
• 1Y: 34.40%
• 3Y*: 20.75%
• 5Y*: 9.67%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AVVIY vs. FZILX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
AVVIY Aviva plc	-5.12%	68.92%	15.67%	11.24%	1.54%	32.48%	-16.80%	25.30%	-22.11%
FZILX Fidelity ZERO International Index Fund	16.56%	33.52%	5.32%	16.28%	-15.96%	8.19%	11.06%	21.69%	-9.38%

Correlation

The correlation between AVVIY and FZILX is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.52
Correlation (3Y) Calculated over the trailing 3-year period	0.56
Correlation (5Y) Calculated over the trailing 5-year period	0.60
Correlation (All Time) Calculated using the full available price history since Aug 16, 2018	0.61

The correlation between AVVIY and FZILX has been stable across timeframes, ranging from 0.52 to 0.61 - a consistent structural relationship.

Return for Risk

AVVIY vs. FZILX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AVVIY

AVVIY Risk / Return Rank: 51
AVVIY Sharpe Ratio Rank: 54
AVVIY Sortino Ratio Rank: 46
AVVIY Omega Ratio Rank: 45
AVVIY Calmar Ratio Rank: 55
AVVIY Martin Ratio Rank: 55

FZILX

FZILX Risk / Return Rank: 70
FZILX Sharpe Ratio Rank: 73
FZILX Sortino Ratio Rank: 65
FZILX Omega Ratio Rank: 71
FZILX Calmar Ratio Rank: 73
FZILX Martin Ratio Rank: 67

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AVVIY vs. FZILX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Aviva plc (AVVIY) and Fidelity ZERO International Index Fund (FZILX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	AVVIY	FZILX	Difference
Sharpe ratio: Return per unit of total volatility	0.32	2.28	-1.96
Sortino ratio: Return per unit of downside risk	0.56	3.06	-2.50
Omega ratio: Gain probability vs. loss probability	1.07	1.43	-0.35
Calmar ratio: Return relative to maximum drawdown	0.50	3.16	-2.66
Martin ratio: Return relative to average drawdown	1.13	12.17	-11.04

AVVIY vs. FZILX - Sharpe Ratio Comparison

The current AVVIY Sharpe Ratio is 0.32, which is lower than the FZILX Sharpe Ratio of 2.28. The chart below compares the historical Sharpe Ratios of AVVIY and FZILX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AVVIY vs. FZILX - Drawdown Comparison

The maximum AVVIY drawdown since its inception was -64.18%, which is greater than FZILX's maximum drawdown of -34.37%. Use the drawdown chart below to compare losses from any high point for AVVIY and FZILX.

Drawdown Indicators

	AVVIY	FZILX	Difference
Max Drawdown Largest peak-to-trough decline	-64.18%	-34.37%	-29.81%
Max Drawdown (1Y) Largest decline over 1 year	-13.90%	-11.24%	-2.66%
Max Drawdown (3Y) Largest decline over 3 years	-13.94%	-13.47%	-0.47%
Max Drawdown (5Y) Largest decline over 5 years	-27.88%	-29.87%	+1.99%
Max Drawdown (10Y) Largest decline over 10 years	-64.18%	—	—
Current Drawdown Current decline from peak	-6.17%	0.00%	-6.17%
Average Drawdown Average peak-to-trough decline	-14.37%	-6.66%	-7.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.16%	2.91%	+3.25%

Volatility

AVVIY vs. FZILX - Volatility Comparison

The current volatility for Aviva plc (AVVIY) is 5.88%, while Fidelity ZERO International Index Fund (FZILX) has a volatility of 6.35%. This indicates that AVVIY experiences smaller price fluctuations and is considered to be less risky than FZILX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AVVIY	FZILX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.88%	6.35%	-0.47%
Volatility (6M) Calculated over the trailing 6-month period	16.90%	13.48%	+3.42%
Volatility (1Y) Calculated over the trailing 1-year period	21.97%	15.60%	+6.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.38%	15.72%	+9.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.10%	17.38%	+11.72%

Dividends

AVVIY vs. FZILX - Dividend Comparison

AVVIY's dividend yield for the trailing twelve months is around 6.18%, more than FZILX's 2.29% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
AVVIY Aviva plc	6.18%	5.09%	7.38%	7.07%	5.78%	5.10%	3.66%	6.65%	7.70%	7.47%	4.66%
FZILX Fidelity ZERO International Index Fund	2.29%	2.67%	3.00%	2.98%	2.71%	2.61%	1.64%	2.37%	0.02%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AVVIY and FZILX in my portfolio?

AVVIY and FZILX have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AVVIY or FZILX?

FZILX has higher volatility (6.35%) compared to AVVIY (5.88%). In terms of maximum drawdown, AVVIY dropped -64.18% vs FZILX's -34.37%.

Which has better risk-adjusted returns?

FZILX currently has the higher Sharpe Ratio (2.28 vs 0.32), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.