FNILX vs. FXIFX

Last updated Jun 24, 2026

FNILX (Fidelity ZERO Large Cap Index Fund) and FXIFX (Fidelity Freedom Index 2030 Fund Investor Class) are both mutual funds - FNILX is a Large Cap Blend Equities fund managed by Fidelity, while FXIFX is a Target Retirement Date fund managed by Fidelity. Over the past 5 years, FNILX returned 13.32%/yr vs 6.34%/yr for FXIFX. Their correlation of 0.93 suggests significant overlap in exposure. FNILX charges 0.00%/yr vs 0.12%/yr for FXIFX.

Performance

FNILX vs. FXIFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity ZERO Large Cap Index Fund (FNILX) and Fidelity Freedom Index 2030 Fund Investor Class (FXIFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FNILX achieves a 9.63% return, which is significantly higher than FXIFX's 7.50% return.

FNILX

• 1D: -0.37%
• 1M: 0.34%
• YTD: 9.63%
• 6M: 8.65%
• 1Y: 25.14%
• 3Y*: 21.66%
• 5Y*: 13.32%
• 10Y*: —

FXIFX

• 1D: -0.25%
• 1M: 1.30%
• YTD: 7.50%
• 6M: 7.13%
• 1Y: 17.88%
• 3Y*: 13.30%
• 5Y*: 6.34%
• 10Y*: 9.33%

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

FNILX vs. FXIFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FNILX Fidelity ZERO Large Cap Index Fund	9.63%	17.81%	25.47%	27.45%	-19.37%	26.67%	21.13%	31.79%	-13.60%
FXIFX Fidelity Freedom Index 2030 Fund Investor Class	7.50%	15.89%	9.50%	15.10%	-16.55%	10.84%	14.34%	22.07%	-9.35%

Correlation

The correlation between FNILX and FXIFX is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (All Time) Calculated using the full available price history since Sep 28, 2018	0.93

The correlation between FNILX and FXIFX has been stable across timeframes, ranging from 0.90 to 0.93 - a consistent structural relationship.

Return for Risk

FNILX vs. FXIFX — Risk / Return Rank

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

FNILX

FNILX Risk / Return Rank: 62
FNILX Sharpe Ratio Rank: 60
FNILX Sortino Ratio Rank: 54
FNILX Omega Ratio Rank: 56
FNILX Calmar Ratio Rank: 64
FNILX Martin Ratio Rank: 73

FXIFX

FXIFX Risk / Return Rank: 67
FXIFX Sharpe Ratio Rank: 67
FXIFX Sortino Ratio Rank: 67
FXIFX Omega Ratio Rank: 68
FXIFX Calmar Ratio Rank: 63
FXIFX Martin Ratio Rank: 69

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.

FNILX vs. FXIFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity ZERO Large Cap Index Fund (FNILX) and Fidelity Freedom Index 2030 Fund Investor Class (FXIFX). 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	FXIFX	Difference
Sharpe ratio: Return per unit of total volatility	2.10	2.20	-0.09
Sortino ratio: Return per unit of downside risk	2.84	3.11	-0.27
Omega ratio: Gain probability vs. loss probability	1.38	1.42	-0.04
Calmar ratio: Return relative to maximum drawdown	2.94	2.90	+0.04
Martin ratio: Return relative to average drawdown	12.99	12.46	+0.53

FNILX vs. FXIFX - Sharpe Ratio Comparison

The current FNILX Sharpe Ratio is 2.10, which is comparable to the FXIFX Sharpe Ratio of 2.20. The chart below compares the historical Sharpe Ratios of FNILX and FXIFX, 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

FNILX vs. FXIFX - Drawdown Comparison

The maximum FNILX drawdown since its inception was -33.76%, which is greater than FXIFX's maximum drawdown of -23.90%. Use the drawdown chart below to compare losses from any high point for FNILX and FXIFX.

Drawdown Indicators

	FNILX	FXIFX	Difference
Max Drawdown Largest peak-to-trough decline	-33.76%	-23.90%	-9.86%
Max Drawdown (1Y) Largest decline over 1 year	-9.01%	-6.42%	-2.59%
Max Drawdown (3Y) Largest decline over 3 years	-19.08%	-9.41%	-9.67%
Max Drawdown (5Y) Largest decline over 5 years	-25.40%	-23.28%	-2.12%
Max Drawdown (10Y) Largest decline over 10 years	—	-23.90%	—
Current Drawdown Current decline from peak	-1.73%	-0.49%	-1.24%
Average Drawdown Average peak-to-trough decline	-5.35%	-3.60%	-1.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.03%	1.49%	+0.54%

Volatility

FNILX vs. FXIFX - Volatility Comparison

Fidelity ZERO Large Cap Index Fund (FNILX) has a higher volatility of 4.82% compared to Fidelity Freedom Index 2030 Fund Investor Class (FXIFX) at 3.43%. This indicates that FNILX's price experiences larger fluctuations and is considered to be riskier than FXIFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FNILX	FXIFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.82%	3.43%	+1.39%
Volatility (6M) Calculated over the trailing 6-month period	9.90%	7.12%	+2.78%
Volatility (1Y) Calculated over the trailing 1-year period	12.61%	8.49%	+4.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.34%	10.43%	+6.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.04%	11.27%	+8.77%

FNILX vs. FXIFX - Expense Ratio Comparison

FNILX has a 0.00% expense ratio, which is lower than FXIFX's 0.12% 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

FNILX vs. FXIFX - Dividend Comparison

FNILX's dividend yield for the trailing twelve months is around 0.92%, less than FXIFX's 3.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FNILX Fidelity ZERO Large Cap Index Fund	0.92%	1.01%	1.09%	1.34%	1.53%	0.95%	1.20%	1.17%	0.53%	0.00%	0.00%	0.00%
FXIFX Fidelity Freedom Index 2030 Fund Investor Class	3.04%	3.34%	2.67%	2.26%	2.69%	2.13%	2.40%	16.73%	2.13%	1.84%	1.94%	2.02%

Frequently Asked Questions

Can I hold both FNILX and FXIFX in my portfolio?

With a correlation of 0.92, FNILX and FXIFX 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, FNILX or FXIFX?

FNILX has higher volatility (4.82%) compared to FXIFX (3.43%). In terms of maximum drawdown, FNILX dropped -33.76% vs FXIFX's -23.90%.

Which has better risk-adjusted returns?

FXIFX currently has the higher Sharpe Ratio (2.20 vs 2.10), 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.