FDGKX vs. FZROX

Last updated Aug 1, 2026

FDGKX (Fidelity Dividend Growth Fund Class K) and FZROX (Fidelity ZERO Total Market Index Fund) are both mutual funds - FDGKX is a Large Cap Value Equities fund managed by Fidelity, while FZROX is a Large Cap Blend Equities fund managed by Fidelity. Over the past 5 years, FDGKX returned 14.13%/yr vs 11.84%/yr for FZROX. Their correlation of 0.92 means they have usually moved in the same direction. FDGKX charges 0.38%/yr vs 0.00%/yr for FZROX.

Performance

FDGKX vs. FZROX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Dividend Growth Fund Class K (FDGKX) and Fidelity ZERO Total Market Index Fund (FZROX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FDGKX achieves a 15.39% return, which is significantly higher than FZROX's 9.94% return.

FDGKX

• 1D: 2.02%
• 1M: -0.12%
• 6M: 9.95%
• YTD: 15.39%
• 1Y: 25.59%
• 3Y*: 22.03%
• 5Y*: 14.13%
• 10Y*: 13.22%
• ALL TIME*: 10.85%

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%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FDGKX Fidelity Dividend Growth Fund Class K	$0.00	$0.00	$0.00
FZROX Fidelity ZERO Total Market Index Fund	$0.00	$0.00	$0.00

FDGKX vs. FZROX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FDGKX Fidelity Dividend Growth Fund Class K	15.39%	19.47%	24.72%	18.00%	-11.54%	28.10%	2.31%	28.84%	-9.39%
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 FDGKX and FZROX is 0.94, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.94
Correlation (3Y) Balances recent behavior with more history.	0.93
Correlation (5Y) Shows whether the relationship held over a longer period.	0.94
Correlation (All Time) Calculated using the full available price history since Aug 16, 2018	0.92

The correlation between FDGKX and FZROX has been stable across timeframes, ranging from 0.92 to 0.94 - a consistent structural relationship.

Return for Risk

FDGKX vs. FZROX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FDGKX

FDGKX Risk / Return Rank: 69
FDGKX Sharpe Ratio Rank: 67
FDGKX Sortino Ratio Rank: 63
FDGKX Omega Ratio Rank: 63
FDGKX Calmar Ratio Rank: 74
FDGKX Martin Ratio Rank: 80

FZROX

FZROX Risk / Return Rank: 64
FZROX Sharpe Ratio Rank: 61
FZROX Sortino Ratio Rank: 58
FZROX Omega Ratio Rank: 58
FZROX Calmar Ratio Rank: 67
FZROX Martin Ratio Rank: 78

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FDGKX vs. FZROX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Dividend Growth Fund Class K (FDGKX) 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.

	FDGKX	FZROX	Difference
Sharpe ratio: Return per unit of total volatility	1.56	1.43	+0.13
Sortino ratio: Return per unit of downside risk	2.14	2.00	+0.14
Omega ratio: Gain probability vs. loss probability	1.28	1.26	+0.02
Calmar ratio: Return relative to maximum drawdown	2.35	2.12	+0.23
Martin ratio: Return relative to average drawdown	9.51	9.14	+0.37

FDGKX vs. FZROX - Sharpe Ratio Comparison

The current FDGKX Sharpe Ratio is 1.56, which is comparable to the FZROX Sharpe Ratio of 1.43. The chart below compares the historical Sharpe Ratios of FDGKX and FZROX, 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

FDGKX vs. FZROX - Drawdown Comparison

The maximum FDGKX drawdown since its inception was -53.34%, which is greater than FZROX's maximum drawdown of -34.96%. Use the drawdown chart below to compare losses from any high point for FDGKX and FZROX.

Drawdown Indicators

	FDGKX	FZROX	Difference
Max Drawdown Largest peak-to-trough decline	-53.34%	-34.96%	-18.38%
Max Drawdown (1Y) Largest decline over 1 year	-10.15%	-8.89%	-1.26%
Max Drawdown (3Y) Largest decline over 3 years	-21.35%	-19.38%	-1.97%
Max Drawdown (5Y) Largest decline over 5 years	-21.35%	-25.12%	+3.77%
Max Drawdown (10Y) Largest decline over 10 years	-41.28%	—	—
Current Drawdown Current decline from peak	-2.69%	-1.85%	-0.84%
Average Drawdown Average peak-to-trough decline	-6.50%	-5.43%	-1.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.50%	2.06%	+0.44%

Volatility

FDGKX vs. FZROX - Volatility Comparison

Fidelity Dividend Growth Fund Class K (FDGKX) has a higher volatility of 4.01% compared to Fidelity ZERO Total Market Index Fund (FZROX) at 3.43%. This indicates that FDGKX's price experiences larger fluctuations and is considered to be riskier than FZROX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FDGKX	FZROX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.01%	3.43%	+0.58%
Volatility (6M) Calculated over the trailing 6-month period	12.21%	10.34%	+1.87%
Volatility (1Y) Calculated over the trailing 1-year period	15.31%	13.19%	+2.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.89%	17.54%	-0.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.32%	20.04%	-0.72%

FDGKX vs. FZROX - Expense Ratio Comparison

FDGKX has a 0.38% expense ratio, which is higher than FZROX's 0.00% expense ratio.

Dividends

FDGKX vs. FZROX - Dividend Comparison

FDGKX's dividend yield for the trailing twelve months is around 5.86%, more than FZROX's 0.93% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDGKX Fidelity Dividend Growth Fund Class K	5.86%	6.82%	7.46%	3.57%	11.59%	7.90%	1.98%	4.95%	23.08%	15.37%	1.70%	8.50%
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

Can I hold both FDGKX and FZROX in my portfolio?

With a correlation of 0.94, FDGKX and FZROX 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, FDGKX or FZROX?

FDGKX has higher volatility (4.01%) compared to FZROX (3.43%). In terms of maximum drawdown, FDGKX dropped -53.34% vs FZROX's -34.96%.

Which has better risk-adjusted returns?

FDGKX currently has the higher Sharpe Ratio (1.56 vs 1.43), 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.