FAOAX vs. FZROX
FAOAX (Fidelity Advisor Overseas Fund Class A) and FZROX (Fidelity ZERO Total Market Index Fund) are both mutual funds - FAOAX is a Foreign Large Cap Equities fund managed by Fidelity, while FZROX is a Large Cap Blend Equities fund managed by Fidelity. Over the past 5 years, FAOAX returned 2.49%/yr vs 11.84%/yr for FZROX. Their 0.75 correlation means they have sometimes moved together and sometimes differently. FAOAX charges 1.43%/yr vs 0.00%/yr for FZROX.
Performance
FAOAX vs. FZROX - Performance Comparison
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Returns By Period
FAOAX
- 1D
- 0.00%
- 1M
- 0.00%
- 6M
- 0.00%
- YTD
- 0.00%
- 1Y
- -0.36%
- 3Y*
- 7.62%
- 5Y*
- 2.49%
- 10Y*
- 7.41%
- ALL TIME*
- 5.44%
FZROX
- 1D
- 1.64%
- 1M
- -0.73%
- 6M
- 8.29%
- YTD
- 9.94%
- 1Y
- 21.21%
- 3Y*
- 18.70%
- 5Y*
- 11.84%
- 10Y*
- —
- ALL TIME*
- 13.98%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
FAOAX vs. FZROX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FAOAX Fidelity Advisor Overseas Fund Class A | 0.00% | 14.93% | 4.63% | 20.01% | -24.61% | 18.90% | 14.71% | 27.39% | -11.39% |
FZROX Fidelity ZERO Total Market Index Fund | 9.94% | 17.23% | 23.94% | 26.20% | -19.21% | 26.00% | 20.51% | 31.15% | -12.72% |
Correlation
The correlation between FAOAX and FZROX is 0.39, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.39 |
Correlation (3Y) Balances recent behavior with more history. | 0.64 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.72 |
Correlation (All Time) Calculated using the full available price history since Aug 16, 2018 | 0.75 |
Over the past year, the correlation between FAOAX and FZROX has dropped to 0.39 - well below their long-term average of 0.75, suggesting their price drivers have been diverging.
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Return for Risk
FAOAX vs. FZROX — Risk / Return Rank
FAOAX
FZROX
FAOAX vs. FZROX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Overseas Fund Class A (FAOAX) 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.
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.
| FAOAX | FZROX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.75 | ||
| Sortino ratioReturn per unit of downside risk | -2.39 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 1.26 | -0.33 |
| Calmar ratioReturn relative to maximum drawdown | -0.34 | 2.12 | -2.46 |
| Martin ratioReturn relative to average drawdown | -0.52 | 9.14 | -9.66 |
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Drawdowns
FAOAX vs. FZROX - Drawdown Comparison
The maximum FAOAX drawdown since its inception was -60.03%, which is greater than FZROX's maximum drawdown of -34.96%. Use the drawdown chart below to compare losses from any high point for FAOAX and FZROX.
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Drawdown Indicators
| FAOAX | FZROX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.03% | -34.96% | -25.07% |
Max Drawdown (1Y)Largest decline over 1 year | -7.29% | -8.89% | +1.60% |
Max Drawdown (3Y)Largest decline over 3 years | -13.99% | -19.38% | +5.39% |
Max Drawdown (5Y)Largest decline over 5 years | -36.50% | -25.12% | -11.38% |
Max Drawdown (10Y)Largest decline over 10 years | -36.50% | — | — |
Current DrawdownCurrent decline from peak | -5.87% | -1.85% | -4.02% |
Average DrawdownAverage peak-to-trough decline | -14.52% | -5.43% | -9.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.49% | 2.06% | +2.43% |
Volatility
FAOAX vs. FZROX - Volatility Comparison
The current volatility for Fidelity Advisor Overseas Fund Class A (FAOAX) is 0.00%, while Fidelity ZERO Total Market Index Fund (FZROX) has a volatility of 3.43%. This indicates that FAOAX 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
| FAOAX | FZROX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.00% | 3.43% | -3.43% |
Volatility (6M)Calculated over the trailing 6-month period | 0.00% | 10.34% | -10.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.67% | 13.19% | -5.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.65% | 17.54% | -0.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.28% | 20.04% | -3.76% |
FAOAX vs. FZROX - Expense Ratio Comparison
FAOAX has a 1.43% expense ratio, which is higher than FZROX's 0.00% expense ratio.
Dividends
FAOAX vs. FZROX - Dividend Comparison
FAOAX's dividend yield for the trailing twelve months is around 8.54%, more than FZROX's 0.93% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FAOAX Fidelity Advisor Overseas Fund Class A | 8.54% | 8.54% | 1.33% | 0.74% | 0.38% | 2.12% | 0.00% | 1.37% | 4.64% | 3.64% | 1.75% | 0.38% |
FZROX Fidelity ZERO Total Market Index Fund | 0.93% | 1.02% | 1.16% | 1.36% | 1.57% | 1.25% | 1.27% | 1.51% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FAOAX and FZROX have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FZROX has higher volatility (3.43%) compared to FAOAX (0.00%). In terms of maximum drawdown, FAOAX dropped -60.03% vs FZROX's -34.96%.
FZROX currently has the higher Sharpe Ratio (1.43 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.
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