FVLAX vs. FNILX

Last updated Apr 1, 2026

Compare and contrast key facts about Fidelity Advisor Value Leaders Fund Class A (FVLAX) and Fidelity ZERO Large Cap Index Fund (FNILX).

FVLAX is managed by Fidelity. It was launched on Jun 17, 2003. FNILX is managed by Fidelity.

Performance

FVLAX vs. FNILX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Value Leaders Fund Class A (FVLAX) and Fidelity ZERO Large Cap Index Fund (FNILX). The values are adjusted to include any dividend payments, if applicable.

FVLAX vs. FNILX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FVLAX Fidelity Advisor Value Leaders Fund Class A	0.00%	4.80%	4.34%	6.82%	1.10%	24.51%	-5.57%	21.30%	-11.47%
FNILX Fidelity ZERO Large Cap Index Fund	-7.30%	17.81%	25.47%	27.45%	-19.37%	26.67%	21.13%	31.79%	-13.60%

Returns By Period

FVLAX

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

FNILX

• 1D: -0.35%
• 1M: -7.60%
• YTD: -7.30%
• 6M: -5.00%
• 1Y: 14.41%
• 3Y*: 17.43%
• 5Y*: 11.17%
• 10Y*: —

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

FVLAX vs. FNILX - Expense Ratio Comparison

FVLAX has a 1.15% expense ratio, which is higher than FNILX's 0.00% expense ratio.

FVLAX

Fidelity Advisor Value Leaders Fund Class A

FNILX

Fidelity ZERO Large Cap Index Fund

Return for Risk

FVLAX vs. FNILX — Risk / Return Rank

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

FNILX

FNILX Risk / Return Rank: 45
FNILX Sharpe Ratio Rank: 40
FNILX Sortino Ratio Rank: 44
FNILX Omega Ratio Rank: 49
FNILX Calmar Ratio Rank: 41
FNILX Martin Ratio Rank: 52

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.

FVLAX vs. FNILX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Value Leaders Fund Class A (FVLAX) and Fidelity ZERO Large Cap Index Fund (FNILX). 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

	FVLAX	FNILX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.83	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.65	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.64	—

Correlation

The correlation between FVLAX and FNILX is 0.73, 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

FVLAX vs. FNILX - Dividend Comparison

FVLAX's dividend yield for the trailing twelve months is around 2.48%, more than FNILX's 1.09% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FVLAX Fidelity Advisor Value Leaders Fund Class A	2.48%	2.48%	11.39%	5.28%	1.87%	7.54%	0.61%	1.48%	8.96%	0.64%	0.45%	0.11%
FNILX Fidelity ZERO Large Cap Index Fund	1.09%	1.01%	1.09%	1.34%	1.53%	0.95%	1.20%	1.17%	0.53%	0.00%	0.00%	0.00%

Drawdowns

Drawdown Indicators

	FVLAX	FNILX	Difference
Max Drawdown Largest peak-to-trough decline	—	-33.76%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-12.18%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-25.40%	—
Current Drawdown Current decline from peak	—	-9.01%	—
Average Drawdown Average peak-to-trough decline	—	-5.47%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.54%	—

Volatility

Volatility by Period

	FVLAX	FNILX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.23%	—
Volatility (6M) Calculated over the trailing 6-month period	—	9.14%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	18.26%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	17.22%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	20.17%	—