FNILX vs. ^SP500TR
FNILX (Fidelity ZERO Large Cap Index Fund) is Large Cap Blend Equities fund managed by Fidelity, while ^SP500TR (S&P 500 Total Return) is an index. Over the past 5 years, FNILX returned 12.80%/yr vs 13.42%/yr for ^SP500TR. Their 0.99 correlation means they have historically moved very closely together.
Performance
FNILX vs. ^SP500TR - Performance Comparison
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Returns By Period
In the year-to-date period, FNILX achieves a 11.48% return, which is significantly lower than ^SP500TR's 13.77% return.
FNILX
- 1D
- 1.49%
- 1M
- 1.53%
- 6M
- 10.57%
- YTD
- 11.48%
- 1Y
- 20.92%
- 3Y*
- 21.06%
- 5Y*
- 12.80%
- 10Y*
- —
- ALL TIME*
- 14.82%
^SP500TR
- 1D
- 1.79%
- 1M
- 3.45%
- 6M
- 12.49%
- YTD
- 13.77%
- 1Y
- 23.69%
- 3Y*
- 21.61%
- 5Y*
- 13.42%
- 10Y*
- 15.40%
- ALL TIME*
- 11.54%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
^SP500TR S&P 500 Total Return | $0.00 | $0.00 | $0.00 |
| $0.00 | $0.00 | $0.00 |
FNILX vs. ^SP500TR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FNILX Fidelity ZERO Large Cap Index Fund | 11.48% | 17.81% | 25.47% | 27.45% | -19.37% | 26.67% | 21.13% | 31.79% | -13.60% |
^SP500TR S&P 500 Total Return | 13.77% | 17.88% | 25.02% | 26.29% | -18.11% | 28.71% | 18.40% | 31.49% | -13.52% |
Correlation
The correlation between FNILX and ^SP500TR is 0.99 - 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. | 0.99 |
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 Sep 28, 2018 | 0.99 |
The correlation between FNILX and ^SP500TR has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.
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Return for Risk
FNILX vs. ^SP500TR — Risk / Return Rank
FNILX
^SP500TR
FNILX vs. ^SP500TR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity ZERO Large Cap Index Fund (FNILX) and S&P 500 Total Return (^SP500TR). 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.
| FNILX | ^SP500TR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.08 | ||
| Sortino ratioReturn per unit of downside risk | -0.12 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.33 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.54 | 2.68 | -0.14 |
| Martin ratioReturn relative to average drawdown | 10.66 | 11.50 | -0.83 |
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Drawdowns
FNILX vs. ^SP500TR - Drawdown Comparison
The maximum FNILX drawdown since its inception was -33.76%, smaller than the maximum ^SP500TR drawdown of -55.25%. Use the drawdown chart below to compare losses from any high point for FNILX and ^SP500TR.
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Drawdown Indicators
| FNILX | ^SP500TR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.76% | -55.25% | +21.49% |
Max Drawdown (1Y)Largest decline over 1 year | -9.01% | -8.89% | -0.12% |
Max Drawdown (3Y)Largest decline over 3 years | -19.08% | -18.75% | -0.33% |
Max Drawdown (5Y)Largest decline over 5 years | -25.40% | -24.49% | -0.91% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.79% | — |
Current DrawdownCurrent decline from peak | -0.07% | 0.00% | -0.07% |
Average DrawdownAverage peak-to-trough decline | -5.29% | -8.14% | +2.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.14% | 2.07% | +0.07% |
Volatility
FNILX vs. ^SP500TR - Volatility Comparison
The current volatility for Fidelity ZERO Large Cap Index Fund (FNILX) is 3.83%, while S&P 500 Total Return (^SP500TR) has a volatility of 4.13%. This indicates that FNILX experiences smaller price fluctuations and is considered to be less risky than ^SP500TR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FNILX | ^SP500TR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.83% | 4.13% | -0.30% |
Volatility (6M)Calculated over the trailing 6-month period | 10.27% | 10.33% | -0.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.96% | 12.94% | +0.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.38% | 17.04% | +0.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.95% | 18.09% | +1.86% |
Frequently Asked Questions
With a correlation of 0.99, FNILX and ^SP500TR 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.
^SP500TR has higher volatility (4.13%) compared to FNILX (3.83%). In terms of maximum drawdown, FNILX dropped -33.76% vs ^SP500TR's -55.25%.
^SP500TR currently has the higher Sharpe Ratio (1.85 vs 1.77), 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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