FIVOX vs. FNILX

Last updated Aug 1, 2026

FIVOX (Fidelity Advisor International Value Fund Class C) and FNILX (Fidelity ZERO Large Cap Index Fund) are both mutual funds - FIVOX is a Foreign Large Cap Equities fund managed by Fidelity, while FNILX is a Large Cap Blend Equities fund managed by Fidelity. Over the past 5 years, FIVOX returned 12.67%/yr vs 12.36%/yr for FNILX. Their 0.72 correlation means they have sometimes moved together and sometimes differently. FIVOX charges 2.05%/yr vs 0.00%/yr for FNILX.

Performance

FIVOX vs. FNILX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor International Value Fund Class C (FIVOX) 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, FIVOX achieves a 10.70% return, which is significantly higher than FNILX's 9.06% return.

FIVOX

• 1D: 2.34%
• 1M: 2.48%
• 6M: 5.50%
• YTD: 10.70%
• 1Y: 26.22%
• 3Y*: 19.55%
• 5Y*: 12.67%
• 10Y*: 8.87%
• ALL TIME*: 3.79%

FNILX

• 1D: 1.68%
• 1M: -0.67%
• 6M: 7.78%
• YTD: 9.06%
• 1Y: 20.09%
• 3Y*: 19.19%
• 5Y*: 12.36%
• 10Y*: —
• ALL TIME*: 14.53%

*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)
FIVOX Fidelity Advisor International Value Fund Class C	$0.00	$0.00	$0.00
FNILX Fidelity ZERO Large Cap Index Fund	$0.00	$0.00	$0.00

FIVOX vs. FNILX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FIVOX Fidelity Advisor International Value Fund Class C	10.70%	42.17%	3.82%	17.89%	-8.89%	13.67%	2.26%	17.55%	-16.33%
FNILX Fidelity ZERO Large Cap Index Fund	9.06%	17.81%	25.47%	27.45%	-19.37%	26.67%	21.13%	31.79%	-13.60%

Correlation

The correlation between FIVOX and FNILX is 0.71, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.71
Correlation (3Y) Balances recent behavior with more history.	0.66
Correlation (5Y) Shows whether the relationship held over a longer period.	0.69
Correlation (All Time) Calculated using the full available price history since Sep 28, 2018	0.72

The correlation between FIVOX and FNILX has been stable across timeframes, ranging from 0.66 to 0.72 - a consistent structural relationship.

Return for Risk

FIVOX vs. FNILX — Risk / Return Rank

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

FIVOX

FIVOX Risk / Return Rank: 68
FIVOX Sharpe Ratio Rank: 69
FIVOX Sortino Ratio Rank: 68
FIVOX Omega Ratio Rank: 65
FIVOX Calmar Ratio Rank: 71
FIVOX Martin Ratio Rank: 66

FNILX

FNILX Risk / Return Rank: 59
FNILX Sharpe Ratio Rank: 56
FNILX Sortino Ratio Rank: 53
FNILX Omega Ratio Rank: 53
FNILX Calmar Ratio Rank: 61
FNILX Martin Ratio Rank: 70

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.

FIVOX vs. FNILX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor International Value Fund Class C (FIVOX) 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.

	FIVOX	FNILX	Difference
Sharpe ratio: Return per unit of total volatility	1.68	1.37	+0.30
Sortino ratio: Return per unit of downside risk	2.39	1.92	+0.47
Omega ratio: Gain probability vs. loss probability	1.30	1.25	+0.05
Calmar ratio: Return relative to maximum drawdown	2.39	1.98	+0.42
Martin ratio: Return relative to average drawdown	8.58	8.30	+0.27

FIVOX vs. FNILX - Sharpe Ratio Comparison

The current FIVOX Sharpe Ratio is 1.68, which is comparable to the FNILX Sharpe Ratio of 1.37. The chart below compares the historical Sharpe Ratios of FIVOX 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.

Drawdowns

FIVOX vs. FNILX - Drawdown Comparison

The maximum FIVOX drawdown since its inception was -66.60%, which is greater than FNILX's maximum drawdown of -33.76%. Use the drawdown chart below to compare losses from any high point for FIVOX and FNILX.

Drawdown Indicators

	FIVOX	FNILX	Difference
Max Drawdown Largest peak-to-trough decline	-66.60%	-33.76%	-32.84%
Max Drawdown (1Y) Largest decline over 1 year	-10.51%	-9.01%	-1.50%
Max Drawdown (3Y) Largest decline over 3 years	-14.52%	-19.08%	+4.56%
Max Drawdown (5Y) Largest decline over 5 years	-28.00%	-25.40%	-2.60%
Max Drawdown (10Y) Largest decline over 10 years	-44.75%	—	—
Current Drawdown Current decline from peak	0.00%	-2.24%	+2.24%
Average Drawdown Average peak-to-trough decline	-21.95%	-5.30%	-16.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.93%	2.14%	+0.79%

Volatility

FIVOX vs. FNILX - Volatility Comparison

Fidelity Advisor International Value Fund Class C (FIVOX) has a higher volatility of 4.41% compared to Fidelity ZERO Large Cap Index Fund (FNILX) at 3.46%. This indicates that FIVOX's price experiences larger fluctuations and is considered to be riskier than FNILX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FIVOX	FNILX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.41%	3.46%	+0.95%
Volatility (6M) Calculated over the trailing 6-month period	12.73%	10.17%	+2.56%
Volatility (1Y) Calculated over the trailing 1-year period	15.04%	12.97%	+2.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.54%	17.37%	-0.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.61%	19.95%	-2.34%

FIVOX vs. FNILX - Expense Ratio Comparison

FIVOX has a 2.05% expense ratio, which is higher than FNILX's 0.00% expense ratio.

Dividends

FIVOX vs. FNILX - Dividend Comparison

FIVOX's dividend yield for the trailing twelve months is around 1.56%, more than FNILX's 0.93% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIVOX Fidelity Advisor International Value Fund Class C	1.56%	1.72%	1.00%	1.04%	0.78%	2.89%	0.92%	2.34%	1.81%	0.15%	1.53%	0.24%
FNILX Fidelity ZERO Large Cap Index Fund	0.93%	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 FIVOX and FNILX in my portfolio?

FIVOX and FNILX have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FIVOX or FNILX?

FIVOX has higher volatility (4.41%) compared to FNILX (3.46%). In terms of maximum drawdown, FIVOX dropped -66.60% vs FNILX's -33.76%.

Which has better risk-adjusted returns?

FIVOX currently has the higher Sharpe Ratio (1.68 vs 1.37), 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.