FNITX vs. FZILX

Last updated Jun 4, 2026

FNITX (Fidelity Advisor New Insights Fund Class M) and FZILX (Fidelity ZERO International Index Fund) are both mutual funds - FNITX is a Large Cap Growth Equities fund managed by Fidelity, while FZILX is a Foreign Large Cap Equities fund tracking the Fidelity Global ex U.S. Index. Over the past 5 years, FNITX returned 15.24%/yr vs 9.43%/yr for FZILX. A 0.74 correlation means they provide meaningful diversification when combined. FNITX charges 1.18%/yr vs 0.00%/yr for FZILX.

Performance

FNITX vs. FZILX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor New Insights Fund Class M (FNITX) 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, FNITX achieves a 9.30% return, which is significantly lower than FZILX's 16.29% return.

FNITX

• 1D: 0.02%
• 1M: 3.48%
• YTD: 9.30%
• 6M: 12.43%
• 1Y: 27.44%
• 3Y*: 27.24%
• 5Y*: 15.24%
• 10Y*: 16.12%

FZILX

• 1D: 0.71%
• 1M: 6.20%
• YTD: 16.29%
• 6M: 19.11%
• 1Y: 34.60%
• 3Y*: 20.62%
• 5Y*: 9.43%
• 10Y*: —

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

FNITX vs. FZILX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FNITX Fidelity Advisor New Insights Fund Class M	9.30%	22.36%	34.61%	35.61%	-26.67%	24.10%	23.30%	28.81%	-13.59%
FZILX Fidelity ZERO International Index Fund	16.29%	33.52%	5.32%	16.28%	-15.96%	8.19%	11.06%	21.69%	-9.38%

Correlation

The correlation between FNITX and FZILX is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.69
Correlation (5Y) Calculated over the trailing 5-year period	0.73
Correlation (All Time) Calculated using the full available price history since Aug 17, 2018	0.74

The correlation between FNITX and FZILX has been stable across timeframes, ranging from 0.69 to 0.74 - a consistent structural relationship.

Return for Risk

FNITX vs. FZILX — Risk / Return Rank

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

FNITX

FNITX Risk / Return Rank: 48
FNITX Sharpe Ratio Rank: 45
FNITX Sortino Ratio Rank: 42
FNITX Omega Ratio Rank: 43
FNITX Calmar Ratio Rank: 50
FNITX Martin Ratio Rank: 60

FZILX

FZILX Risk / Return Rank: 60
FZILX Sharpe Ratio Rank: 64
FZILX Sortino Ratio Rank: 57
FZILX Omega Ratio Rank: 60
FZILX Calmar Ratio Rank: 62
FZILX Martin Ratio Rank: 60

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.

FNITX vs. FZILX - Risk-Adjusted Trends Comparison

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

	FNITX	FZILX	Difference
Sharpe ratio: Return per unit of total volatility	1.98	2.34	-0.36
Sortino ratio: Return per unit of downside risk	2.73	3.18	-0.45
Omega ratio: Gain probability vs. loss probability	1.35	1.43	-0.08
Calmar ratio: Return relative to maximum drawdown	2.68	3.04	-0.35
Martin ratio: Return relative to average drawdown	11.92	11.91	+0.01
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FNITX vs. FZILX - Sharpe Ratio Comparison

The current FNITX Sharpe Ratio is 1.98, which is comparable to the FZILX Sharpe Ratio of 2.34. The chart below compares the historical Sharpe Ratios of FNITX 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.

Sharpe Ratios by Period

	FNITX	FZILX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.98	2.34	-0.36
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.81	0.61	+0.19
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.84	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.63	0.59	+0.04

Drawdowns

FNITX vs. FZILX - Drawdown Comparison

The maximum FNITX drawdown since its inception was -49.84%, which is greater than FZILX's maximum drawdown of -34.37%. Use the drawdown chart below to compare losses from any high point for FNITX and FZILX.

Drawdown Indicators

	FNITX	FZILX	Difference
Max Drawdown Largest peak-to-trough decline	-49.84%	-34.37%	-15.47%
Max Drawdown (1Y) Largest decline over 1 year	-10.45%	-11.24%	+0.79%
Max Drawdown (3Y) Largest decline over 3 years	-20.11%	-13.47%	-6.64%
Max Drawdown (5Y) Largest decline over 5 years	-32.06%	-29.87%	-2.19%
Max Drawdown (10Y) Largest decline over 10 years	-32.06%	—	—
Current Drawdown Current decline from peak	-0.39%	0.00%	-0.39%
Average Drawdown Average peak-to-trough decline	-7.34%	-6.69%	-0.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.35%	2.86%	-0.51%

Volatility

FNITX vs. FZILX - Volatility Comparison

The current volatility for Fidelity Advisor New Insights Fund Class M (FNITX) is 3.54%, while Fidelity ZERO International Index Fund (FZILX) has a volatility of 4.96%. This indicates that FNITX experiences smaller price fluctuations and is considered to be less risky than FZILX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FNITX	FZILX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.54%	4.96%	-1.42%
Volatility (6M) Calculated over the trailing 6-month period	10.81%	12.26%	-1.45%
Volatility (1Y) Calculated over the trailing 1-year period	14.19%	14.62%	-0.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.03%	15.52%	+3.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.29%	17.32%	+1.97%

FNITX vs. FZILX - Expense Ratio Comparison

FNITX has a 1.18% expense ratio, which is higher than FZILX's 0.00% expense ratio.

Dividends

FNITX vs. FZILX - Dividend Comparison

FNITX's dividend yield for the trailing twelve months is around 9.36%, more than FZILX's 2.30% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FNITX Fidelity Advisor New Insights Fund Class M	9.36%	11.08%	6.33%	6.43%	18.00%	13.42%	8.54%	6.62%	14.33%	7.86%	4.99%	4.45%
FZILX Fidelity ZERO International Index Fund	2.30%	2.67%	3.00%	2.98%	2.71%	2.61%	1.64%	2.37%	0.02%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FNITX and FZILX in my portfolio?

FNITX and FZILX have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FNITX or FZILX?

FZILX has higher volatility (4.96%) compared to FNITX (3.54%). In terms of maximum drawdown, FNITX dropped -49.84% vs FZILX's -34.37%.

Which has better risk-adjusted returns?

FZILX currently has the higher Sharpe Ratio (2.34 vs 1.98), 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.