CMBS vs. FZROX
Compare and contrast key facts about iShares CMBS ETF (CMBS) and Fidelity ZERO Total Market Index Fund (FZROX).
CMBS is a passively managed fund by iShares that tracks the performance of the Barclays Capital U.S. CMBS (ERISA Only) Index. It was launched on Feb 14, 2012. FZROX is managed by Fidelity.
Performance
CMBS vs. FZROX - Performance Comparison
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CMBS vs. FZROX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
CMBS iShares CMBS ETF | 0.07% | 7.67% | 4.27% | 5.06% | -11.21% | -1.82% | 7.86% | 7.94% | 1.59% |
FZROX Fidelity ZERO Total Market Index Fund | -3.98% | 17.23% | 23.94% | 26.20% | -19.21% | 26.00% | 20.51% | 31.15% | -12.72% |
Returns By Period
In the year-to-date period, CMBS achieves a 0.07% return, which is significantly higher than FZROX's -3.98% return.
CMBS
- 1D
- 0.20%
- 1M
- -1.30%
- YTD
- 0.07%
- 6M
- 1.21%
- 1Y
- 4.67%
- 3Y*
- 5.31%
- 5Y*
- 1.05%
- 10Y*
- 2.18%
FZROX
- 1D
- 2.99%
- 1M
- -5.06%
- YTD
- -3.98%
- 6M
- -1.97%
- 1Y
- 17.77%
- 3Y*
- 17.96%
- 5Y*
- 10.74%
- 10Y*
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CMBS vs. FZROX - Expense Ratio Comparison
CMBS has a 0.25% expense ratio, which is higher than FZROX's 0.00% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Return for Risk
CMBS vs. FZROX — Risk / Return Rank
CMBS
FZROX
CMBS vs. FZROX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares CMBS ETF (CMBS) and Fidelity ZERO Total Market Index Fund (FZROX). 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.
| CMBS | FZROX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.21 | 0.98 | +0.23 |
Sortino ratioReturn per unit of downside risk | 1.81 | 1.50 | +0.31 |
Omega ratioGain probability vs. loss probability | 1.21 | 1.23 | -0.01 |
Calmar ratioReturn relative to maximum drawdown | 2.20 | 1.51 | +0.69 |
Martin ratioReturn relative to average drawdown | 8.26 | 7.28 | +0.98 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CMBS | FZROX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.21 | 0.98 | +0.23 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.20 | 0.62 | -0.42 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.38 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.44 | 0.63 | -0.19 |
Correlation
The correlation between CMBS and FZROX is -0.03. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Dividends
CMBS vs. FZROX - Dividend Comparison
CMBS's dividend yield for the trailing twelve months is around 3.53%, more than FZROX's 1.07% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CMBS iShares CMBS ETF | 3.53% | 3.45% | 3.31% | 2.97% | 2.65% | 2.46% | 2.83% | 2.74% | 2.70% | 2.50% | 2.29% | 2.31% |
FZROX Fidelity ZERO Total Market Index Fund | 1.07% | 1.02% | 1.16% | 1.36% | 1.57% | 1.25% | 1.27% | 1.51% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
CMBS vs. FZROX - Drawdown Comparison
The maximum CMBS drawdown since its inception was -15.87%, smaller than the maximum FZROX drawdown of -34.96%. Use the drawdown chart below to compare losses from any high point for CMBS and FZROX.
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Drawdown Indicators
| CMBS | FZROX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.87% | -34.96% | +19.09% |
Max Drawdown (1Y)Largest decline over 1 year | -2.44% | -12.44% | +10.00% |
Max Drawdown (5Y)Largest decline over 5 years | -15.87% | -25.12% | +9.25% |
Max Drawdown (10Y)Largest decline over 10 years | -15.87% | — | — |
Current DrawdownCurrent decline from peak | -1.84% | -6.16% | +4.32% |
Average DrawdownAverage peak-to-trough decline | -2.97% | -5.61% | +2.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.65% | 2.58% | -1.93% |
Volatility
CMBS vs. FZROX - Volatility Comparison
The current volatility for iShares CMBS ETF (CMBS) is 1.49%, while Fidelity ZERO Total Market Index Fund (FZROX) has a volatility of 5.52%. This indicates that CMBS experiences smaller price fluctuations and is considered to be less risky than FZROX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CMBS | FZROX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.49% | 5.52% | -4.03% |
Volatility (6M)Calculated over the trailing 6-month period | 2.63% | 9.81% | -7.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.92% | 18.68% | -14.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.29% | 17.45% | -12.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.77% | 20.28% | -14.51% |