FNIDX vs. FZILX

Last updated Aug 1, 2026

FNIDX (Fidelity International Sustainability Index Fd) and FZILX (Fidelity ZERO International Index Fund) are both Foreign Large Cap Equities funds from Fidelity. Over the past 5 years, FNIDX returned 6.97%/yr vs 9.50%/yr for FZILX. Their 0.99 correlation means they have historically moved very closely together. FNIDX charges 0.20%/yr vs 0.00%/yr for FZILX.

Performance

FNIDX vs. FZILX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity International Sustainability Index Fd (FNIDX) 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, FNIDX achieves a 9.37% return, which is significantly lower than FZILX's 14.05% return.

FNIDX

• 1D: 2.64%
• 1M: -0.12%
• 6M: 4.18%
• YTD: 9.37%
• 1Y: 23.30%
• 3Y*: 14.74%
• 5Y*: 6.97%
• 10Y*: —
• ALL TIME*: 7.89%

FZILX

• 1D: 2.82%
• 1M: 0.36%
• 6M: 7.76%
• YTD: 14.05%
• 1Y: 29.53%
• 3Y*: 17.74%
• 5Y*: 9.50%
• 10Y*: —
• ALL TIME*: 9.62%

*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)
FNIDX Fidelity International Sustainability Index Fd	$0.00	$0.00	$0.00
FZILX Fidelity ZERO International Index Fund	$0.00	$0.00	$0.00

FNIDX vs. FZILX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FNIDX Fidelity International Sustainability Index Fd	9.37%	29.80%	5.67%	14.65%	-18.89%	7.65%	12.98%	22.20%	-8.24%
FZILX Fidelity ZERO International Index Fund	14.05%	33.52%	5.32%	16.28%	-15.96%	8.19%	11.06%	21.69%	-9.38%

Correlation

The correlation between FNIDX and FZILX is 0.98 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.98
Correlation (3Y) Balances recent behavior with more history.	0.98
Correlation (5Y) Shows whether the relationship held over a longer period.	0.99
Correlation (All Time) Calculated using the full available price history since Aug 16, 2018	0.99

The correlation between FNIDX and FZILX has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.

Return for Risk

FNIDX vs. FZILX — Risk / Return Rank

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

FNIDX

FNIDX Risk / Return Rank: 52
FNIDX Sharpe Ratio Rank: 50
FNIDX Sortino Ratio Rank: 49
FNIDX Omega Ratio Rank: 51
FNIDX Calmar Ratio Rank: 56
FNIDX Martin Ratio Rank: 53

FZILX

FZILX Risk / Return Rank: 76
FZILX Sharpe Ratio Rank: 76
FZILX Sortino Ratio Rank: 72
FZILX Omega Ratio Rank: 75
FZILX Calmar Ratio Rank: 78
FZILX Martin Ratio Rank: 80

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.

FNIDX vs. FZILX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity International Sustainability Index Fd (FNIDX) 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.

	FNIDX	FZILX	Difference
Sharpe ratio: Return per unit of total volatility	1.32	1.73	-0.41
Sortino ratio: Return per unit of downside risk	1.87	2.37	-0.50
Omega ratio: Gain probability vs. loss probability	1.24	1.32	-0.08
Calmar ratio: Return relative to maximum drawdown	1.93	2.51	-0.58
Martin ratio: Return relative to average drawdown	7.01	9.35	-2.34

FNIDX vs. FZILX - Sharpe Ratio Comparison

The current FNIDX Sharpe Ratio is 1.32, which is comparable to the FZILX Sharpe Ratio of 1.73. The chart below compares the historical Sharpe Ratios of FNIDX 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

FNIDX vs. FZILX - Drawdown Comparison

The maximum FNIDX drawdown since its inception was -33.17%, roughly equal to the maximum FZILX drawdown of -34.37%. Use the drawdown chart below to compare losses from any high point for FNIDX and FZILX.

Drawdown Indicators

	FNIDX	FZILX	Difference
Max Drawdown Largest peak-to-trough decline	-33.17%	-34.37%	+1.20%
Max Drawdown (1Y) Largest decline over 1 year	-11.36%	-11.24%	-0.12%
Max Drawdown (3Y) Largest decline over 3 years	-14.92%	-13.47%	-1.45%
Max Drawdown (5Y) Largest decline over 5 years	-32.79%	-29.87%	-2.92%
Current Drawdown Current decline from peak	-2.85%	-2.15%	-0.70%
Average Drawdown Average peak-to-trough decline	-8.15%	-6.61%	-1.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.12%	3.01%	+0.11%

Volatility

FNIDX vs. FZILX - Volatility Comparison

Fidelity International Sustainability Index Fd (FNIDX) and Fidelity ZERO International Index Fund (FZILX) have volatilities of 5.11% and 5.37%, 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

	FNIDX	FZILX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.11%	5.37%	-0.26%
Volatility (6M) Calculated over the trailing 6-month period	14.54%	14.45%	+0.09%
Volatility (1Y) Calculated over the trailing 1-year period	16.68%	16.38%	+0.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.14%	15.85%	+0.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.65%	17.40%	-0.75%

FNIDX vs. FZILX - Expense Ratio Comparison

FNIDX has a 0.20% expense ratio, which is higher than FZILX's 0.00% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

FNIDX vs. FZILX - Dividend Comparison

FNIDX's dividend yield for the trailing twelve months is around 2.57%, more than FZILX's 2.35% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FNIDX Fidelity International Sustainability Index Fd	2.57%	2.81%	2.34%	2.64%	2.32%	1.93%	1.13%	2.17%	2.28%	1.27%
FZILX Fidelity ZERO International Index Fund	2.35%	2.67%	3.00%	2.98%	2.71%	2.61%	1.64%	2.37%	0.02%	0.00%

Frequently Asked Questions

Can I hold both FNIDX and FZILX in my portfolio?

With a correlation of 0.98, FNIDX and FZILX 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, FNIDX or FZILX?

FZILX has higher volatility (5.37%) compared to FNIDX (5.11%). In terms of maximum drawdown, FNIDX dropped -33.17% vs FZILX's -34.37%.

Which has better risk-adjusted returns?

FZILX currently has the higher Sharpe Ratio (1.73 vs 1.32), 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.