FAOSX vs. FNILX
FAOSX (Fidelity Advisor Overseas Fund Class Z) and FNILX (Fidelity ZERO Large Cap Index Fund) are both mutual funds - FAOSX is a Foreign Large Cap Equities fund managed by Fidelity, while FNILX is a Large Cap Blend Equities fund managed by Fidelity. Over the past 5 years, FAOSX returned 2.86%/yr vs 12.36%/yr for FNILX. Their 0.74 correlation means they have sometimes moved together and sometimes differently. FAOSX charges 1.02%/yr vs 0.00%/yr for FNILX.
Performance
FAOSX vs. FNILX - Performance Comparison
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Returns By Period
FAOSX
- 1D
- 0.00%
- 1M
- 0.00%
- 6M
- 0.00%
- YTD
- 0.00%
- 1Y
- -0.26%
- 3Y*
- 7.96%
- 5Y*
- 2.86%
- 10Y*
- —
- ALL TIME*
- 8.10%
FNILX
- 1D
- 1.68%
- 1M
- -0.67%
- 6M
- 7.78%
- YTD
- 9.06%
- 1Y
- 20.09%
- 3Y*
- 19.19%
- 5Y*
- 12.36%
- 10Y*
- —
- ALL TIME*
- 14.53%
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 |
FAOSX vs. FNILX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FAOSX Fidelity Advisor Overseas Fund Class Z | 0.00% | 15.36% | 5.06% | 20.52% | -24.31% | 19.42% | 15.17% | 27.96% | -15.26% |
FNILX Fidelity ZERO Large Cap Index Fund | 9.06% | 17.81% | 25.47% | 27.45% | -19.37% | 26.67% | 21.13% | 31.79% | -13.60% |
Correlation
The correlation between FAOSX and FNILX is 0.37, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.37 |
Correlation (3Y) Balances recent behavior with more history. | 0.62 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.71 |
Correlation (All Time) Calculated using the full available price history since Sep 28, 2018 | 0.74 |
Over the past year, the correlation between FAOSX and FNILX has dropped to 0.37 - well below their long-term average of 0.74, suggesting their price drivers have been diverging.
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Return for Risk
FAOSX vs. FNILX — Risk / Return Rank
FAOSX
FNILX
FAOSX vs. FNILX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Overseas Fund Class Z (FAOSX) and Fidelity ZERO Large Cap Index Fund (FNILX). 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.
| FAOSX | FNILX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.68 | ||
| Sortino ratioReturn per unit of downside risk | -2.29 | ||
| Omega ratioGain probability vs. loss probability | 0.93 | 1.25 | -0.31 |
| Calmar ratioReturn relative to maximum drawdown | -0.32 | 1.98 | -2.30 |
| Martin ratioReturn relative to average drawdown | -0.48 | 8.30 | -8.79 |
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Drawdowns
FAOSX vs. FNILX - Drawdown Comparison
The maximum FAOSX drawdown since its inception was -36.24%, which is greater than FNILX's maximum drawdown of -33.76%. Use the drawdown chart below to compare losses from any high point for FAOSX and FNILX.
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Drawdown Indicators
| FAOSX | FNILX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.24% | -33.76% | -2.48% |
Max Drawdown (1Y)Largest decline over 1 year | -7.26% | -9.01% | +1.75% |
Max Drawdown (3Y)Largest decline over 3 years | -13.96% | -19.08% | +5.12% |
Max Drawdown (5Y)Largest decline over 5 years | -36.24% | -25.40% | -10.84% |
Current DrawdownCurrent decline from peak | -5.86% | -2.24% | -3.62% |
Average DrawdownAverage peak-to-trough decline | -7.90% | -5.30% | -2.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.48% | 2.14% | +2.34% |
Volatility
FAOSX vs. FNILX - Volatility Comparison
The current volatility for Fidelity Advisor Overseas Fund Class Z (FAOSX) is 0.00%, while Fidelity ZERO Large Cap Index Fund (FNILX) has a volatility of 3.46%. This indicates that FAOSX experiences smaller price fluctuations and is considered to be less risky than FNILX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FAOSX | FNILX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.00% | 3.46% | -3.46% |
Volatility (6M)Calculated over the trailing 6-month period | 0.00% | 10.17% | -10.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.68% | 12.97% | -5.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.65% | 17.37% | -0.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.56% | 19.95% | -3.39% |
FAOSX vs. FNILX - Expense Ratio Comparison
FAOSX has a 1.02% expense ratio, which is higher than FNILX's 0.00% expense ratio.
Dividends
FAOSX vs. FNILX - Dividend Comparison
FAOSX's dividend yield for the trailing twelve months is around 8.67%, more than FNILX's 0.93% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
FAOSX Fidelity Advisor Overseas Fund Class Z | 8.67% | 8.67% | 1.80% | 1.12% | 0.85% | 2.07% | 0.00% | 1.70% | 5.30% | 3.93% |
FNILX Fidelity ZERO Large Cap Index Fund | 0.93% | 1.01% | 1.09% | 1.34% | 1.53% | 0.95% | 1.20% | 1.17% | 0.53% | 0.00% |
Frequently Asked Questions
FAOSX and FNILX have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FNILX has higher volatility (3.46%) compared to FAOSX (0.00%). In terms of maximum drawdown, FAOSX dropped -36.24% vs FNILX's -33.76%.
FNILX currently has the higher Sharpe Ratio (1.37 vs -0.30), 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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