FHIFX vs. FNILX
FHIFX (Fidelity Focused High Income Fund) and FNILX (Fidelity ZERO Large Cap Index Fund) are both mutual funds - FHIFX is a High Yield Bonds fund managed by Fidelity, while FNILX is a Large Cap Blend Equities fund managed by Fidelity. Over the past 5 years, FHIFX returned 2.90%/yr vs 12.84%/yr for FNILX. A 0.51 correlation means they provide meaningful diversification when combined. FHIFX charges 0.75%/yr vs 0.00%/yr for FNILX.
Performance
FHIFX vs. FNILX - Performance Comparison
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Returns By Period
In the year-to-date period, FHIFX achieves a 1.49% return, which is significantly lower than FNILX's 8.03% return.
FHIFX
- 1D
- -0.12%
- 1M
- 0.46%
- YTD
- 1.49%
- 6M
- 2.07%
- 1Y
- 6.86%
- 3Y*
- 7.63%
- 5Y*
- 2.90%
- 10Y*
- 4.46%
FNILX
- 1D
- -1.46%
- 1M
- -1.13%
- YTD
- 8.03%
- 6M
- 6.72%
- 1Y
- 21.96%
- 3Y*
- 21.06%
- 5Y*
- 12.84%
- 10Y*
- —
FHIFX vs. FNILX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FHIFX Fidelity Focused High Income Fund | 1.49% | 8.91% | 5.23% | 10.28% | -11.88% | 2.86% | 4.51% | 15.49% | -3.35% |
FNILX Fidelity ZERO Large Cap Index Fund | 8.03% | 17.81% | 25.47% | 27.45% | -19.37% | 26.67% | 21.13% | 31.79% | -13.60% |
Correlation
The correlation between FHIFX and FNILX is 0.63, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.63 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.52 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.51 |
Correlation (All Time) Calculated using the full available price history since Sep 28, 2018 | 0.51 |
The correlation between FHIFX and FNILX shifts across timeframes, from 0.51 (all time) to 0.63 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
FHIFX vs. FNILX — Risk / Return Rank
FHIFX
FNILX
FHIFX vs. FNILX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Focused High Income Fund (FHIFX) 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.
| FHIFX | FNILX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.47 | ||
| Sortino ratioReturn per unit of downside risk | +1.50 | ||
| Omega ratioGain probability vs. loss probability | 1.52 | 1.33 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 3.13 | 2.60 | +0.53 |
| Martin ratioReturn relative to average drawdown | 15.85 | 11.43 | +4.41 |
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Drawdowns
FHIFX vs. FNILX - Drawdown Comparison
The maximum FHIFX drawdown since its inception was -27.06%, smaller than the maximum FNILX drawdown of -33.76%. Use the drawdown chart below to compare losses from any high point for FHIFX and FNILX.
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Drawdown Indicators
| FHIFX | FNILX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.06% | -33.76% | +6.70% |
Max Drawdown (1Y)Largest decline over 1 year | -2.28% | -9.01% | +6.73% |
Max Drawdown (3Y)Largest decline over 3 years | -3.67% | -19.08% | +15.41% |
Max Drawdown (5Y)Largest decline over 5 years | -15.60% | -25.40% | +9.80% |
Max Drawdown (10Y)Largest decline over 10 years | -19.11% | — | — |
Current DrawdownCurrent decline from peak | -0.36% | -3.16% | +2.80% |
Average DrawdownAverage peak-to-trough decline | -2.38% | -5.34% | +2.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.45% | 2.04% | -1.59% |
Volatility
FHIFX vs. FNILX - Volatility Comparison
The current volatility for Fidelity Focused High Income Fund (FHIFX) is 0.87%, while Fidelity ZERO Large Cap Index Fund (FNILX) has a volatility of 5.05%. This indicates that FHIFX 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
| FHIFX | FNILX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.87% | 5.05% | -4.18% |
Volatility (6M)Calculated over the trailing 6-month period | 2.44% | 9.99% | -7.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.08% | 12.68% | -9.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.85% | 17.36% | -12.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.13% | 20.04% | -14.91% |
FHIFX vs. FNILX - Expense Ratio Comparison
FHIFX has a 0.75% expense ratio, which is higher than FNILX's 0.00% expense ratio.
Dividends
FHIFX vs. FNILX - Dividend Comparison
FHIFX's dividend yield for the trailing twelve months is around 5.79%, more than FNILX's 0.94% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FHIFX Fidelity Focused High Income Fund | 5.79% | 5.54% | 4.09% | 4.36% | 3.43% | 3.37% | 3.81% | 4.27% | 5.00% | 4.19% | 4.84% | 4.44% |
FNILX Fidelity ZERO Large Cap Index Fund | 0.94% | 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
FHIFX and FNILX have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FNILX has higher volatility (5.05%) compared to FHIFX (0.87%). In terms of maximum drawdown, FHIFX dropped -27.06% vs FNILX's -33.76%.
FHIFX currently has the higher Sharpe Ratio (2.33 vs 1.85), 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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