FTLTX vs. FZROX
FTLTX (Fidelity Series Long-Term Treasury Bond Index Fund) and FZROX (Fidelity ZERO Total Market Index Fund) are both mutual funds - FTLTX is a Government Bonds fund managed by Fidelity, while FZROX is a Large Cap Blend Equities fund managed by Fidelity. Over the past 5 years, FTLTX returned -7.36%/yr vs 12.28%/yr for FZROX. Their -0.06 correlation means they have often moved in opposite directions in the past. Both charge a 0.00% expense ratio.
Performance
FTLTX vs. FZROX - Performance Comparison
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Returns By Period
In the year-to-date period, FTLTX achieves a -3.32% return, which is significantly lower than FZROX's 12.27% return.
FTLTX
- 1D
- 0.39%
- 1M
- -3.58%
- 6M
- -3.11%
- YTD
- -3.32%
- 1Y
- -1.95%
- 3Y*
- -0.06%
- 5Y*
- -7.36%
- 10Y*
- —
- ALL TIME*
- -0.66%
FZROX
- 1D
- 1.53%
- 1M
- 1.38%
- 6M
- 10.81%
- YTD
- 12.27%
- 1Y
- 21.86%
- 3Y*
- 20.54%
- 5Y*
- 12.28%
- 10Y*
- —
- ALL TIME*
- 14.26%
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 |
FTLTX vs. FZROX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FTLTX Fidelity Series Long-Term Treasury Bond Index Fund | -3.32% | 5.45% | -6.13% | 3.27% | -29.89% | -5.13% | 17.45% | 14.23% | 1.75% |
FZROX Fidelity ZERO Total Market Index Fund | 12.27% | 17.23% | 23.94% | 26.20% | -19.21% | 26.00% | 20.51% | 31.15% | -12.72% |
Correlation
The correlation between FTLTX and FZROX is 0.27, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.27 |
Correlation (3Y) Balances recent behavior with more history. | 0.19 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.10 |
Correlation (All Time) Calculated using the full available price history since Aug 16, 2018 | -0.06 |
The correlation between FTLTX and FZROX shifts across timeframes, from -0.06 (all time) to 0.27 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
FTLTX vs. FZROX — Risk / Return Rank
FTLTX
FZROX
FTLTX vs. FZROX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Series Long-Term Treasury Bond Index Fund (FTLTX) 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.
| FTLTX | FZROX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.01 | ||
| Sortino ratioReturn per unit of downside risk | -2.71 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.32 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | -0.22 | 2.69 | -2.90 |
| Martin ratioReturn relative to average drawdown | -0.48 | 11.61 | -12.09 |
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Drawdowns
FTLTX vs. FZROX - Drawdown Comparison
The maximum FTLTX drawdown since its inception was -46.86%, which is greater than FZROX's maximum drawdown of -34.96%. Use the drawdown chart below to compare losses from any high point for FTLTX and FZROX.
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Drawdown Indicators
| FTLTX | FZROX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.86% | -34.96% | -11.90% |
Max Drawdown (1Y)Largest decline over 1 year | -7.38% | -8.89% | +1.51% |
Max Drawdown (3Y)Largest decline over 3 years | -13.45% | -19.38% | +5.93% |
Max Drawdown (5Y)Largest decline over 5 years | -41.52% | -25.12% | -16.40% |
Current DrawdownCurrent decline from peak | -39.15% | 0.00% | -39.15% |
Average DrawdownAverage peak-to-trough decline | -20.29% | -5.43% | -14.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.28% | 2.05% | +1.23% |
Volatility
FTLTX vs. FZROX - Volatility Comparison
The current volatility for Fidelity Series Long-Term Treasury Bond Index Fund (FTLTX) is 2.42%, while Fidelity ZERO Total Market Index Fund (FZROX) has a volatility of 3.80%. This indicates that FTLTX 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.
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Volatility by Period
| FTLTX | FZROX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.42% | 3.80% | -1.38% |
Volatility (6M)Calculated over the trailing 6-month period | 6.30% | 10.43% | -4.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.35% | 13.18% | -4.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.46% | 17.56% | -3.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.79% | 20.03% | -6.24% |
FTLTX vs. FZROX - Expense Ratio Comparison
FTLTX has a 0.00% expense ratio, which is lower than FZROX's 0.00% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
FTLTX vs. FZROX - Dividend Comparison
FTLTX's dividend yield for the trailing twelve months is around 3.76%, more than FZROX's 0.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
FTLTX Fidelity Series Long-Term Treasury Bond Index Fund | 3.76% | 3.83% | 3.71% | 3.17% | 2.20% | 2.06% | 12.95% | 10.68% | 2.89% | 2.44% |
FZROX Fidelity ZERO Total Market Index Fund | 0.91% | 1.02% | 1.16% | 1.36% | 1.57% | 1.25% | 1.27% | 1.51% | 0.00% | 0.00% |
Frequently Asked Questions
FTLTX and FZROX have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FZROX has higher volatility (3.80%) compared to FTLTX (2.42%). In terms of maximum drawdown, FTLTX dropped -46.86% vs FZROX's -34.96%.
FZROX currently has the higher Sharpe Ratio (1.81 vs -0.19), 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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