FDEIX vs. FNILX

Last updated Jun 4, 2026

FDEIX (Fidelity Advisor Capital Development Fund Class I) and FNILX (Fidelity ZERO Large Cap Index Fund) are both mutual funds - FDEIX is a Large Cap Value Equities fund managed by Fidelity, while FNILX is a Large Cap Blend Equities fund managed by Fidelity. Over the past 5 years, FDEIX returned 16.05%/yr vs 13.74%/yr for FNILX. Their correlation of 0.90 suggests significant overlap in exposure. FDEIX charges 0.71%/yr vs 0.00%/yr for FNILX.

Performance

FDEIX vs. FNILX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Capital Development Fund Class I (FDEIX) and Fidelity ZERO Large Cap Index Fund (FNILX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FDEIX achieves a 9.80% return, which is significantly lower than FNILX's 10.70% return.

FDEIX

• 1D: -0.26%
• 1M: 3.25%
• YTD: 9.80%
• 6M: 11.82%
• 1Y: 31.06%
• 3Y*: 25.75%
• 5Y*: 16.05%
• 10Y*: 15.69%

FNILX

• 1D: -0.77%
• 1M: 4.37%
• YTD: 10.70%
• 6M: 10.49%
• 1Y: 27.60%
• 3Y*: 22.69%
• 5Y*: 13.74%
• 10Y*: —

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

FDEIX vs. FNILX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FDEIX Fidelity Advisor Capital Development Fund Class I	9.80%	27.44%	26.86%	24.00%	-8.17%	25.18%	8.93%	31.14%	-16.36%
FNILX Fidelity ZERO Large Cap Index Fund	10.70%	17.81%	25.47%	27.45%	-19.37%	26.67%	21.13%	31.79%	-13.60%

Correlation

The correlation between FDEIX and FNILX is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (All Time) Calculated using the full available price history since Oct 1, 2018	0.90

The correlation between FDEIX and FNILX has been stable across timeframes, ranging from 0.90 to 0.94 - a consistent structural relationship.

Return for Risk

FDEIX vs. FNILX — Risk / Return Rank

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

FDEIX

FDEIX Risk / Return Rank: 75
FDEIX Sharpe Ratio Rank: 79
FDEIX Sortino Ratio Rank: 74
FDEIX Omega Ratio Rank: 70
FDEIX Calmar Ratio Rank: 73
FDEIX Martin Ratio Rank: 81

FNILX

FNILX Risk / Return Rank: 63
FNILX Sharpe Ratio Rank: 61
FNILX Sortino Ratio Rank: 56
FNILX Omega Ratio Rank: 57
FNILX Calmar Ratio Rank: 64
FNILX Martin Ratio Rank: 75

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.

FDEIX vs. FNILX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Capital Development Fund Class I (FDEIX) 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.

	FDEIX	FNILX	Difference
Sharpe ratio: Return per unit of total volatility	2.59	2.33	+0.27
Sortino ratio: Return per unit of downside risk	3.58	3.17	+0.41
Omega ratio: Gain probability vs. loss probability	1.47	1.42	+0.05
Calmar ratio: Return relative to maximum drawdown	3.32	3.08	+0.23
Martin ratio: Return relative to average drawdown	15.15	14.10	+1.05
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FDEIX vs. FNILX - Sharpe Ratio Comparison

The current FDEIX Sharpe Ratio is 2.59, which is comparable to the FNILX Sharpe Ratio of 2.33. The chart below compares the historical Sharpe Ratios of FDEIX and FNILX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FDEIX	FNILX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.59	2.33	+0.27
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.92	0.80	+0.12
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.84	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	0.76	-0.21

Drawdowns

FDEIX vs. FNILX - Drawdown Comparison

The maximum FDEIX drawdown since its inception was -57.82%, which is greater than FNILX's maximum drawdown of -33.76%. Use the drawdown chart below to compare losses from any high point for FDEIX and FNILX.

Drawdown Indicators

	FDEIX	FNILX	Difference
Max Drawdown Largest peak-to-trough decline	-57.82%	-33.76%	-24.06%
Max Drawdown (1Y) Largest decline over 1 year	-9.64%	-9.01%	-0.63%
Max Drawdown (3Y) Largest decline over 3 years	-19.72%	-19.08%	-0.64%
Max Drawdown (5Y) Largest decline over 5 years	-21.81%	-25.40%	+3.59%
Max Drawdown (10Y) Largest decline over 10 years	-36.61%	—	—
Current Drawdown Current decline from peak	-0.26%	-0.77%	+0.51%
Average Drawdown Average peak-to-trough decline	-8.13%	-5.37%	-2.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.11%	1.97%	+0.14%

Volatility

FDEIX vs. FNILX - Volatility Comparison

Fidelity Advisor Capital Development Fund Class I (FDEIX) and Fidelity ZERO Large Cap Index Fund (FNILX) have volatilities of 2.91% and 3.00%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FDEIX	FNILX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.91%	3.00%	-0.09%
Volatility (6M) Calculated over the trailing 6-month period	9.41%	9.01%	+0.40%
Volatility (1Y) Calculated over the trailing 1-year period	12.35%	11.96%	+0.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.58%	17.25%	+0.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.83%	20.04%	-1.21%

FDEIX vs. FNILX - Expense Ratio Comparison

FDEIX has a 0.71% expense ratio, which is higher than FNILX's 0.00% expense ratio.

Dividends

FDEIX vs. FNILX - Dividend Comparison

FDEIX's dividend yield for the trailing twelve months is around 9.36%, more than FNILX's 0.91% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDEIX Fidelity Advisor Capital Development Fund Class I	9.36%	10.28%	8.81%	4.21%	5.46%	5.49%	4.32%	7.30%	15.57%	5.32%	2.82%	5.75%
FNILX Fidelity ZERO Large Cap Index Fund	0.91%	1.01%	1.09%	1.34%	1.53%	0.95%	1.20%	1.17%	0.53%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FDEIX and FNILX in my portfolio?

With a correlation of 0.94, FDEIX and FNILX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, FDEIX or FNILX?

FNILX has higher volatility (3.00%) compared to FDEIX (2.91%). In terms of maximum drawdown, FDEIX dropped -57.82% vs FNILX's -33.76%.

Which has better risk-adjusted returns?

FDEIX currently has the higher Sharpe Ratio (2.59 vs 2.33), 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.