FSAIX vs. FNILX

Last updated Jul 19, 2026

FSAIX (Fidelity Select Air Transportation Portfolio) and FNILX (Fidelity ZERO Large Cap Index Fund) are both mutual funds - FSAIX is a Transportation Equities fund actively managed by Fidelity, while FNILX is a Large Cap Blend Equities fund managed by Fidelity. At a 0.39 correlation, their price movements are largely independent. FSAIX charges 0.85%/yr vs 0.00%/yr for FNILX.

Performance

FSAIX vs. FNILX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Select Air Transportation Portfolio (FSAIX) and Fidelity ZERO Large Cap Index Fund (FNILX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FSAIX

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

FNILX

• 1D: -0.55%
• 1M: 0.41%
• 6M: 9.06%
• YTD: 10.49%
• 1Y: 20.49%
• 3Y*: 20.30%
• 5Y*: 13.04%
• 10Y*: —

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

FSAIX vs. FNILX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FSAIX Fidelity Select Air Transportation Portfolio	0.00%	0.00%	0.00%	0.00%	0.00%	10.10%	-10.47%	21.06%	-16.98%
FNILX Fidelity ZERO Large Cap Index Fund	10.49%	17.81%	25.47%	27.45%	-19.37%	26.67%	21.13%	31.79%	-13.60%

Correlation

The correlation between FSAIX and FNILX is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (5Y) Calculated over the trailing 5-year period	0.12
Correlation (All Time) Calculated using the full available price history since Sep 28, 2018	0.39

The correlation between FSAIX and FNILX shifts across timeframes, from 0.12 (5 years) to 0.39 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FSAIX vs. FNILX — Risk / Return Rank

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

FSAIX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

FNILX

FNILX Risk / Return Rank: 52
FNILX Sharpe Ratio Rank: 50
FNILX Sortino Ratio Rank: 47
FNILX Omega Ratio Rank: 47
FNILX Calmar Ratio Rank: 52
FNILX Martin Ratio Rank: 63

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.

FSAIX vs. FNILX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Select Air Transportation Portfolio (FSAIX) and Fidelity ZERO Large Cap Index Fund (FNILX). 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.

	FSAIX	FNILX	Difference
Sharpe ratio: Return per unit of total volatility	—	1.68	—
Sortino ratio: Return per unit of downside risk	—	2.31	—
Omega ratio: Gain probability vs. loss probability	—	1.30	—
Calmar ratio: Return relative to maximum drawdown	—	2.36	—
Martin ratio: Return relative to average drawdown	—	10.14	—

Drawdowns

Drawdown Indicators

	FSAIX	FNILX	Difference
Max Drawdown Largest peak-to-trough decline	—	-33.76%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-9.01%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-19.08%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-25.40%	—
Current Drawdown Current decline from peak	—	-0.96%	—
Average Drawdown Average peak-to-trough decline	—	-5.31%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.09%	—

Volatility

Volatility by Period

	FSAIX	FNILX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.32%	—
Volatility (6M) Calculated over the trailing 6-month period	—	10.08%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	12.67%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	17.36%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	19.97%	—

FSAIX vs. FNILX - Expense Ratio Comparison

FSAIX has a 0.85% expense ratio, which is higher than FNILX's 0.00% expense ratio.

Dividends

FSAIX vs. FNILX - Dividend Comparison

FSAIX has not paid dividends to shareholders, while FNILX's dividend yield for the trailing twelve months is around 0.92%.

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%
FSAIX Fidelity Select Air Transportation Portfolio	0.00%	0.00%	0.00%	0.00%	0.00%	20.99%	2.07%	9.05%	12.74%	8.81%	0.66%	9.39%

Frequently Asked Questions

Can I hold both FSAIX and FNILX in my portfolio?

FSAIX and FNILX have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.