FSZZX vs. FZROX
FSZZX (Fidelity Sustainable Emerging Markets Equity Fund) and FZROX (Fidelity ZERO Total Market Index Fund) are both mutual funds - FSZZX is a Emerging Markets Equities fund managed by Fidelity, while FZROX is a Large Cap Blend Equities fund managed by Fidelity. Over the past 3 years, FSZZX returned 19.90%/yr vs 18.70%/yr for FZROX. Their 0.67 correlation means they have sometimes moved together and sometimes differently. FSZZX charges 1.15%/yr vs 0.00%/yr for FZROX.
Performance
FSZZX vs. FZROX - Performance Comparison
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Returns By Period
In the year-to-date period, FSZZX achieves a 19.20% return, which is significantly higher than FZROX's 9.94% return.
FSZZX
- 1D
- 3.76%
- 1M
- -3.09%
- 6M
- 9.06%
- YTD
- 19.20%
- 1Y
- 39.43%
- 3Y*
- 19.90%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 9.80%
FZROX
- 1D
- 1.64%
- 1M
- -0.73%
- 6M
- 8.29%
- YTD
- 9.94%
- 1Y
- 21.21%
- 3Y*
- 18.70%
- 5Y*
- 11.84%
- 10Y*
- —
- ALL TIME*
- 13.98%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
FSZZX vs. FZROX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
FSZZX Fidelity Sustainable Emerging Markets Equity Fund | 19.20% | 39.03% | 6.12% | 11.47% | -22.70% |
FZROX Fidelity ZERO Total Market Index Fund | 9.94% | 17.23% | 23.94% | 26.20% | -11.97% |
Correlation
The correlation between FSZZX and FZROX is 0.75, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.75 |
Correlation (3Y) Balances recent behavior with more history. | 0.67 |
Correlation (All Time) Calculated using the full available price history since Feb 18, 2022 | 0.67 |
The correlation between FSZZX and FZROX has been stable across timeframes, ranging from 0.67 to 0.75 - a consistent structural relationship.
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Return for Risk
FSZZX vs. FZROX — Risk / Return Rank
FSZZX
FZROX
FSZZX vs. FZROX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Sustainable Emerging Markets Equity Fund (FSZZX) 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.
| FSZZX | FZROX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.16 | ||
| Sortino ratioReturn per unit of downside risk | +0.09 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.26 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.74 | 2.12 | +0.62 |
| Martin ratioReturn relative to average drawdown | 8.23 | 9.14 | -0.92 |
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Drawdowns
FSZZX vs. FZROX - Drawdown Comparison
The maximum FSZZX drawdown since its inception was -33.67%, roughly equal to the maximum FZROX drawdown of -34.96%. Use the drawdown chart below to compare losses from any high point for FSZZX and FZROX.
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Drawdown Indicators
| FSZZX | FZROX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.67% | -34.96% | +1.29% |
Max Drawdown (1Y)Largest decline over 1 year | -13.61% | -8.89% | -4.72% |
Max Drawdown (3Y)Largest decline over 3 years | -17.12% | -19.38% | +2.26% |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.12% | — |
Current DrawdownCurrent decline from peak | -10.37% | -1.85% | -8.52% |
Average DrawdownAverage peak-to-trough decline | -11.12% | -5.43% | -5.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.53% | 2.06% | +2.47% |
Volatility
FSZZX vs. FZROX - Volatility Comparison
Fidelity Sustainable Emerging Markets Equity Fund (FSZZX) has a higher volatility of 8.92% compared to Fidelity ZERO Total Market Index Fund (FZROX) at 3.43%. This indicates that FSZZX's price experiences larger fluctuations and is considered to be riskier than FZROX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FSZZX | FZROX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.92% | 3.43% | +5.49% |
Volatility (6M)Calculated over the trailing 6-month period | 21.23% | 10.34% | +10.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.58% | 13.19% | +10.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.79% | 17.54% | +3.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.79% | 20.04% | +0.75% |
FSZZX vs. FZROX - Expense Ratio Comparison
FSZZX has a 1.15% expense ratio, which is higher than FZROX's 0.00% expense ratio.
Dividends
FSZZX vs. FZROX - Dividend Comparison
FSZZX's dividend yield for the trailing twelve months is around 0.86%, less than FZROX's 0.93% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
FSZZX Fidelity Sustainable Emerging Markets Equity Fund | 0.86% | 1.02% | 1.48% | 1.74% | 0.71% | 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
FSZZX and FZROX have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FSZZX has higher volatility (8.92%) compared to FZROX (3.43%). In terms of maximum drawdown, FSZZX dropped -33.67% vs FZROX's -34.96%.
FSZZX currently has the higher Sharpe Ratio (1.58 vs 1.43), 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.
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