FNIAX vs. FZROX

Last updated Apr 1, 2026

Compare and contrast key facts about Fidelity Advisor New Insights Fund Class A (FNIAX) and Fidelity ZERO Total Market Index Fund (FZROX).

FNIAX is managed by Fidelity. It was launched on Jul 31, 2003. FZROX is managed by Fidelity.

Performance

FNIAX vs. FZROX - Performance Comparison

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

FNIAX vs. FZROX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FNIAX Fidelity Advisor New Insights Fund Class A	-7.49%	21.17%	34.94%	35.97%	-26.57%	24.40%	23.62%	29.17%	-13.51%
FZROX Fidelity ZERO Total Market Index Fund	-6.77%	17.23%	23.94%	26.20%	-19.21%	26.00%	20.51%	31.15%	-12.72%

Returns By Period

In the year-to-date period, FNIAX achieves a -7.49% return, which is significantly lower than FZROX's -6.77% return.

FNIAX

• 1D: -0.52%
• 1M: -9.26%
• YTD: -7.49%
• 6M: -4.20%
• 1Y: 20.18%
• 3Y*: 23.16%
• 5Y*: 12.88%
• 10Y*: 14.58%

FZROX

• 1D: -0.45%
• 1M: -7.71%
• YTD: -6.77%
• 6M: -4.49%
• 1Y: 14.82%
• 3Y*: 16.81%
• 5Y*: 10.36%
• 10Y*: —

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

FNIAX vs. FZROX - Expense Ratio Comparison

FNIAX has a 0.93% expense ratio, which is higher than FZROX's 0.00% expense ratio.

FNIAX

Fidelity Advisor New Insights Fund Class A

FZROX

Fidelity ZERO Total Market Index Fund

Return for Risk

FNIAX vs. FZROX — Risk / Return Rank

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

FNIAX

FNIAX Risk / Return Rank: 64
FNIAX Sharpe Ratio Rank: 58
FNIAX Sortino Ratio Rank: 62
FNIAX Omega Ratio Rank: 60
FNIAX Calmar Ratio Rank: 71
FNIAX Martin Ratio Rank: 68

FZROX

FZROX Risk / Return Rank: 46
FZROX Sharpe Ratio Rank: 41
FZROX Sortino Ratio Rank: 45
FZROX Omega Ratio Rank: 49
FZROX Calmar Ratio Rank: 41
FZROX Martin Ratio Rank: 53

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.

FNIAX vs. FZROX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor New Insights Fund Class A (FNIAX) 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.

	FNIAX	FZROX	Difference
Sharpe ratio Return per unit of total volatility	1.04	0.84	+0.20
Sortino ratio Return per unit of downside risk	1.56	1.30	+0.27
Omega ratio Gain probability vs. loss probability	1.23	1.20	+0.03
Calmar ratio Return relative to maximum drawdown	1.59	1.05	+0.54
Martin ratio Return relative to average drawdown	6.45	5.11	+1.33
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FNIAX vs. FZROX - Sharpe Ratio Comparison

The current FNIAX Sharpe Ratio is 1.04, which is comparable to the FZROX Sharpe Ratio of 0.84. The chart below compares the historical Sharpe Ratios of FNIAX and FZROX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FNIAX	FZROX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.04	0.84	+0.20
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.68	0.60	+0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.76	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.60	0.61	-0.01

Correlation

The correlation between FNIAX and FZROX is 0.93, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

FNIAX vs. FZROX - Dividend Comparison

FNIAX's dividend yield for the trailing twelve months is around 10.10%, more than FZROX's 1.10% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FNIAX Fidelity Advisor New Insights Fund Class A	10.10%	8.96%	5.85%	6.18%	17.12%	12.66%	8.14%	6.48%	13.78%	7.61%	4.99%	4.40%
FZROX Fidelity ZERO Total Market Index Fund	1.10%	1.02%	1.16%	1.36%	1.57%	1.25%	1.27%	1.51%	0.00%	0.00%	0.00%	0.00%

Drawdowns

FNIAX vs. FZROX - Drawdown Comparison

The maximum FNIAX drawdown since its inception was -49.69%, which is greater than FZROX's maximum drawdown of -34.96%. Use the drawdown chart below to compare losses from any high point for FNIAX and FZROX.

Drawdown Indicators

	FNIAX	FZROX	Difference
Max Drawdown Largest peak-to-trough decline	-49.69%	-34.96%	-14.73%
Max Drawdown (1Y) Largest decline over 1 year	-10.85%	-12.44%	+1.59%
Max Drawdown (5Y) Largest decline over 5 years	-31.98%	-25.12%	-6.86%
Max Drawdown (10Y) Largest decline over 10 years	-31.98%	—	—
Current Drawdown Current decline from peak	-10.41%	-8.89%	-1.52%
Average Drawdown Average peak-to-trough decline	-7.28%	-5.61%	-1.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.68%	2.56%	+0.12%

Volatility

FNIAX vs. FZROX - Volatility Comparison

Fidelity Advisor New Insights Fund Class A (FNIAX) has a higher volatility of 5.30% compared to Fidelity ZERO Total Market Index Fund (FZROX) at 4.41%. This indicates that FNIAX'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

	FNIAX	FZROX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.30%	4.41%	+0.89%
Volatility (6M) Calculated over the trailing 6-month period	10.84%	9.34%	+1.50%
Volatility (1Y) Calculated over the trailing 1-year period	19.55%	18.49%	+1.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.01%	17.40%	+1.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.22%	20.25%	-1.03%