FDTZX vs. FNILX

Last updated Jun 4, 2026

FDTZX (Fidelity Advisor Capital Development Fund Class M) and FNILX (Fidelity ZERO Large Cap Index Fund) are both mutual funds - FDTZX 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, FDTZX returned 15.43%/yr vs 14.13%/yr for FNILX. Their correlation of 0.90 suggests significant overlap in exposure. FDTZX charges 1.33%/yr vs 0.00%/yr for FNILX.

Performance

FDTZX vs. FNILX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Capital Development Fund Class M (FDTZX) 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, FDTZX achieves a 9.55% return, which is significantly lower than FNILX's 11.56% return.

FDTZX

• 1D: -0.29%
• 1M: 3.20%
• YTD: 9.55%
• 6M: 11.52%
• 1Y: 30.40%
• 3Y*: 25.08%
• 5Y*: 15.43%
• 10Y*: 15.06%

FNILX

• 1D: 0.26%
• 1M: 6.04%
• YTD: 11.56%
• 6M: 11.44%
• 1Y: 28.65%
• 3Y*: 23.01%
• 5Y*: 14.13%
• 10Y*: —

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

FDTZX vs. FNILX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FDTZX Fidelity Advisor Capital Development Fund Class M	9.55%	26.82%	26.26%	23.23%	-8.72%	24.45%	8.28%	30.31%	-16.56%
FNILX Fidelity ZERO Large Cap Index Fund	11.56%	17.81%	25.47%	27.45%	-19.37%	26.67%	21.13%	31.79%	-13.60%

Correlation

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

Return for Risk

FDTZX vs. FNILX — Risk / Return Rank

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

FDTZX

FDTZX Risk / Return Rank: 72
FDTZX Sharpe Ratio Rank: 75
FDTZX Sortino Ratio Rank: 70
FDTZX Omega Ratio Rank: 67
FDTZX Calmar Ratio Rank: 69
FDTZX Martin Ratio Rank: 78

FNILX

FNILX Risk / Return Rank: 71
FNILX Sharpe Ratio Rank: 73
FNILX Sortino Ratio Rank: 65
FNILX Omega Ratio Rank: 64
FNILX Calmar Ratio Rank: 72
FNILX Martin Ratio Rank: 80

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.

FDTZX vs. FNILX - Risk-Adjusted Trends Comparison

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

	FDTZX	FNILX	Difference
Sharpe ratio: Return per unit of total volatility	2.53	2.48	+0.05
Sortino ratio: Return per unit of downside risk	3.49	3.36	+0.14
Omega ratio: Gain probability vs. loss probability	1.46	1.45	+0.01
Calmar ratio: Return relative to maximum drawdown	3.22	3.28	-0.06
Martin ratio: Return relative to average drawdown	14.65	15.01	-0.36
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FDTZX vs. FNILX - Sharpe Ratio Comparison

The current FDTZX Sharpe Ratio is 2.53, which is comparable to the FNILX Sharpe Ratio of 2.48. The chart below compares the historical Sharpe Ratios of FDTZX 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

	FDTZX	FNILX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.53	2.48	+0.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.88	0.82	+0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.80	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.51	0.76	-0.25

Drawdowns

FDTZX vs. FNILX - Drawdown Comparison

The maximum FDTZX drawdown since its inception was -58.26%, which is greater than FNILX's maximum drawdown of -33.76%. Use the drawdown chart below to compare losses from any high point for FDTZX and FNILX.

Drawdown Indicators

	FDTZX	FNILX	Difference
Max Drawdown Largest peak-to-trough decline	-58.26%	-33.76%	-24.50%
Max Drawdown (1Y) Largest decline over 1 year	-9.71%	-9.01%	-0.70%
Max Drawdown (3Y) Largest decline over 3 years	-20.16%	-19.08%	-1.08%
Max Drawdown (5Y) Largest decline over 5 years	-22.13%	-25.40%	+3.27%
Max Drawdown (10Y) Largest decline over 10 years	-36.66%	—	—
Current Drawdown Current decline from peak	-0.29%	0.00%	-0.29%
Average Drawdown Average peak-to-trough decline	-8.61%	-5.37%	-3.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.13%	1.97%	+0.16%

Volatility

FDTZX vs. FNILX - Volatility Comparison

Fidelity Advisor Capital Development Fund Class M (FDTZX) and Fidelity ZERO Large Cap Index Fund (FNILX) have volatilities of 2.94% and 2.88%, 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

	FDTZX	FNILX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.94%	2.88%	+0.06%
Volatility (6M) Calculated over the trailing 6-month period	9.46%	8.99%	+0.47%
Volatility (1Y) Calculated over the trailing 1-year period	12.38%	11.93%	+0.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.67%	17.25%	+0.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.87%	20.04%	-1.17%

FDTZX vs. FNILX - Expense Ratio Comparison

FDTZX has a 1.33% expense ratio, which is higher than FNILX's 0.00% expense ratio.

Dividends

FDTZX vs. FNILX - Dividend Comparison

FDTZX's dividend yield for the trailing twelve months is around 10.08%, more than FNILX's 0.91% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDTZX Fidelity Advisor Capital Development Fund Class M	10.08%	11.04%	9.30%	4.11%	5.35%	5.32%	4.07%	7.18%	15.77%	5.66%	2.35%	5.37%
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 FDTZX and FNILX in my portfolio?

With a correlation of 0.94, FDTZX 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, FDTZX or FNILX?

FDTZX has higher volatility (2.94%) compared to FNILX (2.88%). In terms of maximum drawdown, FDTZX dropped -58.26% vs FNILX's -33.76%.

Which has better risk-adjusted returns?

FDTZX currently has the higher Sharpe Ratio (2.53 vs 2.48), 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.