FSST vs. FZROX

Last updated Apr 1, 2026

Compare and contrast key facts about Fidelity Sustainability U.S. Equity ETF (FSST) and Fidelity ZERO Total Market Index Fund (FZROX).

FSST is a passively managed fund by Fidelity that tracks the performance of the Russell 3000. It was launched on Jun 15, 2021. FZROX is managed by Fidelity.

Performance

FSST vs. FZROX - Performance Comparison

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

FSST vs. FZROX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
FSST Fidelity Sustainability U.S. Equity ETF	0.00%	15.40%	21.40%	25.49%	-18.30%	12.81%
FZROX Fidelity ZERO Total Market Index Fund	-6.77%	17.23%	23.94%	26.20%	-19.21%	11.45%

Returns By Period

FSST

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

FZROX

• 1D: -0.45%
• 1M: -7.71%
• YTD: -6.77%
• 6M: -4.49%
• 1Y: 14.82%
• 3Y*: 16.81%
• 5Y*: 10.36%
• 10Y*: —

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

FSST vs. FZROX - Expense Ratio Comparison

FSST has a 0.59% expense ratio, which is higher than FZROX's 0.00% expense ratio.

FSST

Fidelity Sustainability U.S. Equity ETF

FZROX

Fidelity ZERO Total Market Index Fund

Return for Risk

FSST vs. FZROX — Risk / Return Rank

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

FZROX

FZROX Risk / Return Rank: 46
FZROX Sharpe Ratio Rank: 41
FZROX Sortino Ratio Rank: 45
FZROX Omega Ratio Rank: 49
FZROX Calmar Ratio Rank: 41
FZROX Martin Ratio Rank: 53

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.

FSST vs. FZROX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Sustainability U.S. Equity ETF (FSST) 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.

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

Sharpe Ratios by Period

	FSST	FZROX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.84	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.60	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.61	—

Correlation

The correlation between FSST and FZROX is 0.92, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

FSST vs. FZROX - Dividend Comparison

FSST's dividend yield for the trailing twelve months is around 0.14%, less than FZROX's 1.10% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019
FSST Fidelity Sustainability U.S. Equity ETF	0.14%	0.19%	2.01%	0.68%	1.00%	0.34%	0.00%	0.00%
FZROX Fidelity ZERO Total Market Index Fund	1.10%	1.02%	1.16%	1.36%	1.57%	1.25%	1.27%	1.51%

Drawdowns

Drawdown Indicators

	FSST	FZROX	Difference
Max Drawdown Largest peak-to-trough decline	—	-34.96%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-12.44%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-25.12%	—
Current Drawdown Current decline from peak	—	-8.89%	—
Average Drawdown Average peak-to-trough decline	—	-5.61%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.56%	—

Volatility

Volatility by Period

	FSST	FZROX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.41%	—
Volatility (6M) Calculated over the trailing 6-month period	—	9.34%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	18.49%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	17.40%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	20.25%	—