FZIPX vs. PFSLX
FZIPX (Fidelity ZERO Extended Market Index Fund) and PFSLX (Paradigm Select Fund) are both Mid Cap Blend Equities funds. Over the past 5 years, FZIPX returned 8.25%/yr vs 12.96%/yr for PFSLX. Their correlation of 0.90 means they have usually moved in the same direction. FZIPX charges 0.00%/yr vs 1.16%/yr for PFSLX.
Performance
FZIPX vs. PFSLX - Performance Comparison
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Returns By Period
In the year-to-date period, FZIPX achieves a 17.78% return, which is significantly lower than PFSLX's 37.13% return.
FZIPX
- 1D
- 1.14%
- 1M
- -1.27%
- 6M
- 12.50%
- YTD
- 17.78%
- 1Y
- 30.97%
- 3Y*
- 15.28%
- 5Y*
- 8.25%
- 10Y*
- —
- ALL TIME*
- 10.12%
PFSLX
- 1D
- 3.21%
- 1M
- -4.09%
- 6M
- 30.28%
- YTD
- 37.13%
- 1Y
- 68.31%
- 3Y*
- 23.63%
- 5Y*
- 12.96%
- 10Y*
- 16.06%
- ALL TIME*
- 11.75%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
PFSLX Paradigm Select Fund | $0.00 | $0.00 | $0.00 |
FZIPX vs. PFSLX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FZIPX Fidelity ZERO Extended Market Index Fund | 17.78% | 12.51% | 12.39% | 18.13% | -18.01% | 21.31% | 16.64% | 26.50% | -17.57% |
PFSLX Paradigm Select Fund | 37.13% | 13.27% | 16.73% | 26.94% | -26.44% | 31.16% | 26.05% | 38.32% | -17.43% |
Correlation
The correlation between FZIPX and PFSLX is 0.82, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.82 |
Correlation (3Y) Balances recent behavior with more history. | 0.83 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.88 |
Correlation (All Time) Calculated using the full available price history since Sep 28, 2018 | 0.90 |
The correlation between FZIPX and PFSLX has been stable across timeframes, ranging from 0.82 to 0.90 - a consistent structural relationship.
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Return for Risk
FZIPX vs. PFSLX — Risk / Return Rank
FZIPX
PFSLX
FZIPX vs. PFSLX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity ZERO Extended Market Index Fund (FZIPX) and Paradigm Select Fund (PFSLX). 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.
| FZIPX | PFSLX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.68 | ||
| Sortino ratioReturn per unit of downside risk | -0.66 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.37 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 2.90 | 5.34 | -2.44 |
| Martin ratioReturn relative to average drawdown | 10.99 | 17.42 | -6.43 |
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Drawdowns
FZIPX vs. PFSLX - Drawdown Comparison
The maximum FZIPX drawdown since its inception was -42.71%, smaller than the maximum PFSLX drawdown of -91.83%. Use the drawdown chart below to compare losses from any high point for FZIPX and PFSLX.
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Drawdown Indicators
| FZIPX | PFSLX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.71% | -91.83% | +49.12% |
Max Drawdown (1Y)Largest decline over 1 year | -9.61% | -11.69% | +2.08% |
Max Drawdown (3Y)Largest decline over 3 years | -25.16% | -91.83% | +66.67% |
Max Drawdown (5Y)Largest decline over 5 years | -28.19% | -91.83% | +63.64% |
Max Drawdown (10Y)Largest decline over 10 years | — | -91.83% | — |
Current DrawdownCurrent decline from peak | -2.14% | -83.40% | +81.26% |
Average DrawdownAverage peak-to-trough decline | -8.76% | -14.23% | +5.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.54% | 3.60% | -1.06% |
Volatility
FZIPX vs. PFSLX - Volatility Comparison
The current volatility for Fidelity ZERO Extended Market Index Fund (FZIPX) is 3.57%, while Paradigm Select Fund (PFSLX) has a volatility of 7.56%. This indicates that FZIPX experiences smaller price fluctuations and is considered to be less risky than PFSLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FZIPX | PFSLX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.57% | 7.56% | -3.99% |
Volatility (6M)Calculated over the trailing 6-month period | 12.66% | 22.19% | -9.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.28% | 27.18% | -9.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.88% | 146.15% | -125.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.67% | 104.47% | -80.80% |
FZIPX vs. PFSLX - Expense Ratio Comparison
FZIPX has a 0.00% expense ratio, which is lower than PFSLX's 1.16% expense ratio.
Dividends
FZIPX vs. PFSLX - Dividend Comparison
FZIPX's dividend yield for the trailing twelve months is around 1.05%, more than PFSLX's 0.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FZIPX Fidelity ZERO Extended Market Index Fund | 1.05% | 1.24% | 1.22% | 1.43% | 1.64% | 6.97% | 2.15% | 1.80% | 0.50% | 0.00% | 0.00% | 0.00% |
PFSLX Paradigm Select Fund | 0.10% | 0.14% | 0.02% | 0.31% | 0.01% | 0.17% | 0.11% | 0.58% | 2.93% | 3.89% | 0.74% | 9.40% |
Frequently Asked Questions
FZIPX and PFSLX have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PFSLX has higher volatility (7.56%) compared to FZIPX (3.57%). In terms of maximum drawdown, FZIPX dropped -42.71% vs PFSLX's -91.83%.
PFSLX currently has the higher Sharpe Ratio (2.30 vs 1.61), 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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