FTEC vs. FZILX

Last updated Jun 16, 2026

FTEC (Fidelity MSCI Information Technology Index ETF) and FZILX (Fidelity ZERO International Index Fund) are both funds - FTEC is a Technology Equities fund tracking the MSCI USA IMI Information Technology 25/50 Index, while FZILX is a Foreign Large Cap Equities fund tracking the Fidelity Global ex U.S. Index. Both are passively managed. Over the past 5 years, FTEC returned 21.43%/yr vs 8.89%/yr for FZILX. A 0.69 correlation means they provide meaningful diversification when combined. FTEC charges 0.08%/yr vs 0.00%/yr for FZILX.

Performance

FTEC vs. FZILX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity MSCI Information Technology Index ETF (FTEC) 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, FTEC achieves a 28.48% return, which is significantly higher than FZILX's 14.46% return.

FTEC

• 1D: 3.38%
• 1M: 6.58%
• YTD: 28.48%
• 6M: 30.07%
• 1Y: 56.15%
• 3Y*: 31.16%
• 5Y*: 21.43%
• 10Y*: 25.51%

FZILX

• 1D: 0.60%
• 1M: 3.44%
• YTD: 14.46%
• 6M: 15.88%
• 1Y: 31.18%
• 3Y*: 19.17%
• 5Y*: 8.89%
• 10Y*: —

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

FTEC vs. FZILX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FTEC Fidelity MSCI Information Technology Index ETF	28.48%	22.11%	29.40%	53.30%	-29.59%	30.49%	45.83%	48.93%	-14.48%
FZILX Fidelity ZERO International Index Fund	14.46%	33.52%	5.32%	16.28%	-15.96%	8.19%	11.06%	21.69%	-9.38%

Correlation

The correlation between FTEC and FZILX is 0.68, 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	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.63
Correlation (5Y) Calculated over the trailing 5-year period	0.68
Correlation (All Time) Calculated using the full available price history since Aug 16, 2018	0.69

The correlation between FTEC and FZILX has been stable across timeframes, ranging from 0.63 to 0.69 - a consistent structural relationship.

Return for Risk

FTEC vs. FZILX — Risk / Return Rank

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

FTEC

FTEC Risk / Return Rank: 77
FTEC Sharpe Ratio Rank: 87
FTEC Sortino Ratio Rank: 79
FTEC Omega Ratio Rank: 80
FTEC Calmar Ratio Rank: 75
FTEC Martin Ratio Rank: 65

FZILX

FZILX Risk / Return Rank: 58
FZILX Sharpe Ratio Rank: 58
FZILX Sortino Ratio Rank: 53
FZILX Omega Ratio Rank: 59
FZILX Calmar Ratio Rank: 61
FZILX Martin Ratio Rank: 58

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.

FTEC vs. FZILX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity MSCI Information Technology Index ETF (FTEC) 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.

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.

	FTEC	FZILX	Difference
Sharpe ratio: Return per unit of total volatility	2.54	1.90	+0.64
Sortino ratio: Return per unit of downside risk	3.11	2.60	+0.51
Omega ratio: Gain probability vs. loss probability	1.42	1.36	+0.06
Calmar ratio: Return relative to maximum drawdown	3.47	2.64	+0.83
Martin ratio: Return relative to average drawdown	10.80	10.15	+0.65

FTEC vs. FZILX - Sharpe Ratio Comparison

The current FTEC Sharpe Ratio is 2.54, which is higher than the FZILX Sharpe Ratio of 1.90. The chart below compares the historical Sharpe Ratios of FTEC 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.

Drawdowns

FTEC vs. FZILX - Drawdown Comparison

The maximum FTEC drawdown since its inception was -34.95%, roughly equal to the maximum FZILX drawdown of -34.37%. Use the drawdown chart below to compare losses from any high point for FTEC and FZILX.

Drawdown Indicators

	FTEC	FZILX	Difference
Max Drawdown Largest peak-to-trough decline	-34.95%	-34.37%	-0.58%
Max Drawdown (1Y) Largest decline over 1 year	-16.26%	-11.24%	-5.02%
Max Drawdown (3Y) Largest decline over 3 years	-27.30%	-13.47%	-13.83%
Max Drawdown (5Y) Largest decline over 5 years	-34.95%	-29.87%	-5.08%
Max Drawdown (10Y) Largest decline over 10 years	-34.95%	—	—
Current Drawdown Current decline from peak	-4.04%	-1.58%	-2.46%
Average Drawdown Average peak-to-trough decline	-5.57%	-6.68%	+1.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.21%	2.92%	+2.29%

Volatility

FTEC vs. FZILX - Volatility Comparison

Fidelity MSCI Information Technology Index ETF (FTEC) has a higher volatility of 10.43% compared to Fidelity ZERO International Index Fund (FZILX) at 6.65%. This indicates that FTEC's price experiences larger fluctuations and is considered to be riskier than FZILX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FTEC	FZILX	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.43%	6.65%	+3.78%
Volatility (6M) Calculated over the trailing 6-month period	18.33%	13.40%	+4.93%
Volatility (1Y) Calculated over the trailing 1-year period	22.26%	15.59%	+6.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.49%	15.70%	+9.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.84%	17.39%	+7.45%

FTEC vs. FZILX - Expense Ratio Comparison

FTEC has a 0.08% expense ratio, which is higher than FZILX'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

FTEC vs. FZILX - Dividend Comparison

FTEC's dividend yield for the trailing twelve months is around 0.33%, less than FZILX's 2.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FTEC Fidelity MSCI Information Technology Index ETF	0.33%	0.43%	0.49%	0.77%	0.93%	0.63%	0.83%	1.03%	1.20%	0.96%	1.25%	1.27%
FZILX Fidelity ZERO International Index Fund	2.34%	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 FTEC and FZILX in my portfolio?

FTEC and FZILX have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FTEC or FZILX?

FTEC has higher volatility (10.43%) compared to FZILX (6.65%). In terms of maximum drawdown, FTEC dropped -34.95% vs FZILX's -34.37%.

Which has better risk-adjusted returns?

FTEC currently has the higher Sharpe Ratio (2.54 vs 1.90), 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.