FIFZX vs. FZILX

Last updated Jun 25, 2026

FIFZX (Fidelity Series Bond Index Fund) and FZILX (Fidelity ZERO International Index Fund) are both mutual funds - FIFZX is a Total Bond Market fund managed by Fidelity, while FZILX is a Foreign Large Cap Equities fund tracking the Fidelity Global ex U.S. Index. Over the past 5 years, FIFZX returned -0.05%/yr vs 8.88%/yr for FZILX. At a 0.11 correlation, their price movements are largely independent. Both charge a 0.00% expense ratio.

Performance

FIFZX vs. FZILX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Series Bond Index Fund (FIFZX) and Fidelity ZERO International Index Fund (FZILX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FIFZX achieves a 0.23% return, which is significantly lower than FZILX's 13.24% return.

FIFZX

• 1D: 0.11%
• 1M: 0.68%
• YTD: 0.23%
• 6M: 0.35%
• 1Y: 4.05%
• 3Y*: 3.94%
• 5Y*: -0.05%
• 10Y*: —

FZILX

• 1D: -2.85%
• 1M: 0.48%
• YTD: 13.24%
• 6M: 13.24%
• 1Y: 28.61%
• 3Y*: 19.59%
• 5Y*: 8.88%
• 10Y*: —

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

FIFZX vs. FZILX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FIFZX Fidelity Series Bond Index Fund	0.23%	7.15%	1.41%	5.54%	-13.46%	-1.96%	7.65%	5.12%
FZILX Fidelity ZERO International Index Fund	13.24%	33.52%	5.32%	16.28%	-15.96%	8.19%	11.06%	8.57%

Correlation

The correlation between FIFZX and FZILX is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.38
Correlation (3Y) Calculated over the trailing 3-year period	0.30
Correlation (5Y) Calculated over the trailing 5-year period	0.21
Correlation (All Time) Calculated using the full available price history since Apr 26, 2019	0.11

Over the past year, FIFZX and FZILX have become more correlated (0.38) than their long-term average of 0.11, meaning their price movements have been converging.

Return for Risk

FIFZX vs. FZILX — Risk / Return Rank

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

FIFZX

FIFZX Risk / Return Rank: 20
FIFZX Sharpe Ratio Rank: 20
FIFZX Sortino Ratio Rank: 21
FIFZX Omega Ratio Rank: 18
FIFZX Calmar Ratio Rank: 21
FIFZX Martin Ratio Rank: 18

FZILX

FZILX Risk / Return Rank: 52
FZILX Sharpe Ratio Rank: 51
FZILX Sortino Ratio Rank: 46
FZILX Omega Ratio Rank: 52
FZILX Calmar Ratio Rank: 56
FZILX Martin Ratio Rank: 55

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.

FIFZX vs. FZILX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Series Bond Index Fund (FIFZX) and Fidelity ZERO International Index Fund (FZILX). 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.

	FIFZX	FZILX	Difference
Sharpe ratio: Return per unit of total volatility	1.12	1.94	-0.82
Sortino ratio: Return per unit of downside risk	1.71	2.62	-0.91
Omega ratio: Gain probability vs. loss probability	1.20	1.36	-0.17
Calmar ratio: Return relative to maximum drawdown	1.52	2.73	-1.21
Martin ratio: Return relative to average drawdown	4.25	10.51	-6.25

FIFZX vs. FZILX - Sharpe Ratio Comparison

The current FIFZX Sharpe Ratio is 1.12, which is lower than the FZILX Sharpe Ratio of 1.94. The chart below compares the historical Sharpe Ratios of FIFZX and FZILX, 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

FIFZX vs. FZILX - Drawdown Comparison

The maximum FIFZX drawdown since its inception was -19.27%, smaller than the maximum FZILX drawdown of -34.37%. Use the drawdown chart below to compare losses from any high point for FIFZX and FZILX.

Drawdown Indicators

	FIFZX	FZILX	Difference
Max Drawdown Largest peak-to-trough decline	-19.27%	-34.37%	+15.10%
Max Drawdown (1Y) Largest decline over 1 year	-2.91%	-11.24%	+8.33%
Max Drawdown (3Y) Largest decline over 3 years	-6.12%	-13.47%	+7.35%
Max Drawdown (5Y) Largest decline over 5 years	-18.47%	-29.87%	+11.40%
Current Drawdown Current decline from peak	-2.97%	-2.85%	-0.12%
Average Drawdown Average peak-to-trough decline	-6.67%	-6.66%	-0.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.04%	2.92%	-1.88%

Volatility

FIFZX vs. FZILX - Volatility Comparison

The current volatility for Fidelity Series Bond Index Fund (FIFZX) is 1.18%, while Fidelity ZERO International Index Fund (FZILX) has a volatility of 7.02%. This indicates that FIFZX experiences smaller price fluctuations and is considered to be less risky than FZILX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FIFZX	FZILX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.18%	7.02%	-5.84%
Volatility (6M) Calculated over the trailing 6-month period	2.90%	13.81%	-10.91%
Volatility (1Y) Calculated over the trailing 1-year period	3.93%	15.85%	-11.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.08%	15.77%	-9.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.62%	17.41%	-11.79%

FIFZX vs. FZILX - Expense Ratio Comparison

FIFZX has a 0.00% expense ratio, which is lower than FZILX's 0.00% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

FIFZX vs. FZILX - Dividend Comparison

FIFZX's dividend yield for the trailing twelve months is around 4.01%, more than FZILX's 2.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
FIFZX Fidelity Series Bond Index Fund	4.01%	3.87%	3.66%	3.09%	1.74%	1.42%	3.20%	1.64%	0.00%
FZILX Fidelity ZERO International Index Fund	2.36%	2.67%	3.00%	2.98%	2.71%	2.61%	1.64%	2.37%	0.02%

Frequently Asked Questions

Can I hold both FIFZX and FZILX in my portfolio?

FIFZX and FZILX have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FIFZX or FZILX?

FZILX has higher volatility (7.02%) compared to FIFZX (1.18%). In terms of maximum drawdown, FIFZX dropped -19.27% vs FZILX's -34.37%.

Which has better risk-adjusted returns?

FZILX currently has the higher Sharpe Ratio (1.94 vs 1.12), 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.