FSCJX vs. FZROX

Last updated Jun 24, 2026

FSCJX (Fidelity SAI Canada Equity Index Fund) and FZROX (Fidelity ZERO Total Market Index Fund) are both mutual funds - FSCJX is a Canada Equities fund tracking the MSCI Canada Index, while FZROX is a Large Cap Blend Equities fund managed by Fidelity. Over the past year, FSCJX returned 29.79% vs 26.02% for FZROX. A 0.73 correlation means they provide meaningful diversification when combined. FSCJX charges 0.12%/yr vs 0.00%/yr for FZROX.

Performance

FSCJX vs. FZROX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity SAI Canada Equity Index Fund (FSCJX) and Fidelity ZERO Total Market Index Fund (FZROX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FSCJX achieves a 8.01% return, which is significantly lower than FZROX's 10.41% return.

FSCJX

• 1D: 0.00%
• 1M: -0.58%
• YTD: 8.01%
• 6M: 6.81%
• 1Y: 29.79%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FZROX

• 1D: -0.31%
• 1M: 0.62%
• YTD: 10.41%
• 6M: 9.30%
• 1Y: 26.02%
• 3Y*: 21.31%
• 5Y*: 12.61%
• 10Y*: —

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

FSCJX vs. FZROX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FSCJX Fidelity SAI Canada Equity Index Fund	8.01%	36.41%	5.14%
FZROX Fidelity ZERO Total Market Index Fund	10.41%	17.23%	5.42%

Correlation

The correlation between FSCJX and FZROX is 0.70, 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	0.70
Correlation (All Time) Calculated using the full available price history since Jul 16, 2024	0.73

The correlation between FSCJX and FZROX has been stable across timeframes, ranging from 0.70 to 0.73 - a consistent structural relationship.

Return for Risk

FSCJX vs. FZROX — Risk / Return Rank

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

FSCJX

FSCJX Risk / Return Rank: 69
FSCJX Sharpe Ratio Rank: 66
FSCJX Sortino Ratio Rank: 55
FSCJX Omega Ratio Rank: 56
FSCJX Calmar Ratio Rank: 83
FSCJX Martin Ratio Rank: 85

FZROX

FZROX Risk / Return Rank: 65
FZROX Sharpe Ratio Rank: 62
FZROX Sortino Ratio Rank: 56
FZROX Omega Ratio Rank: 57
FZROX Calmar Ratio Rank: 70
FZROX Martin Ratio Rank: 79

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.

FSCJX vs. FZROX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity SAI Canada Equity Index Fund (FSCJX) and Fidelity ZERO Total Market Index Fund (FZROX). 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.

	FSCJX	FZROX	Difference
Sharpe ratio: Return per unit of total volatility	2.19	2.13	+0.06
Sortino ratio: Return per unit of downside risk	2.86	2.88	-0.02
Omega ratio: Gain probability vs. loss probability	1.38	1.38	0.00
Calmar ratio: Return relative to maximum drawdown	3.69	3.08	+0.61
Martin ratio: Return relative to average drawdown	14.84	13.77	+1.07

FSCJX vs. FZROX - Sharpe Ratio Comparison

The current FSCJX Sharpe Ratio is 2.19, which is comparable to the FZROX Sharpe Ratio of 2.13. The chart below compares the historical Sharpe Ratios of FSCJX and FZROX, 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

FSCJX vs. FZROX - Drawdown Comparison

The maximum FSCJX drawdown since its inception was -12.43%, smaller than the maximum FZROX drawdown of -34.96%. Use the drawdown chart below to compare losses from any high point for FSCJX and FZROX.

Drawdown Indicators

	FSCJX	FZROX	Difference
Max Drawdown Largest peak-to-trough decline	-12.43%	-34.96%	+22.53%
Max Drawdown (1Y) Largest decline over 1 year	-8.33%	-8.89%	+0.56%
Max Drawdown (3Y) Largest decline over 3 years	—	-19.38%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-25.12%	—
Current Drawdown Current decline from peak	-2.16%	-1.44%	-0.72%
Average Drawdown Average peak-to-trough decline	-1.62%	-5.48%	+3.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.06%	1.98%	+0.08%

Volatility

FSCJX vs. FZROX - Volatility Comparison

The current volatility for Fidelity SAI Canada Equity Index Fund (FSCJX) is 4.31%, while Fidelity ZERO Total Market Index Fund (FZROX) has a volatility of 4.82%. This indicates that FSCJX experiences smaller price fluctuations and is considered to be less risky than FZROX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSCJX	FZROX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.31%	4.82%	-0.51%
Volatility (6M) Calculated over the trailing 6-month period	11.22%	10.10%	+1.12%
Volatility (1Y) Calculated over the trailing 1-year period	14.07%	12.88%	+1.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.35%	17.53%	-2.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.35%	20.13%	-4.78%

FSCJX vs. FZROX - Expense Ratio Comparison

FSCJX has a 0.12% expense ratio, which is higher than FZROX'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

FSCJX vs. FZROX - Dividend Comparison

FSCJX's dividend yield for the trailing twelve months is around 1.24%, more than FZROX's 0.93% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
FSCJX Fidelity SAI Canada Equity Index Fund	1.24%	1.34%	1.10%	0.00%	0.00%	0.00%	0.00%	0.00%
FZROX Fidelity ZERO Total Market Index Fund	0.93%	1.02%	1.16%	1.36%	1.57%	1.25%	1.27%	1.51%

Frequently Asked Questions

Can I hold both FSCJX and FZROX in my portfolio?

FSCJX and FZROX have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FSCJX or FZROX?

FZROX has higher volatility (4.82%) compared to FSCJX (4.31%). In terms of maximum drawdown, FSCJX dropped -12.43% vs FZROX's -34.96%.

Which has better risk-adjusted returns?

FSCJX currently has the higher Sharpe Ratio (2.19 vs 2.13), 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.