FZROX vs. ALSMX

Last updated Jun 4, 2026

FZROX (Fidelity ZERO Total Market Index Fund) and ALSMX (Archer Multi Cap Fund) are both Large Cap Blend Equities funds. Over the past 5 years, FZROX returned 13.30%/yr vs 13.86%/yr for ALSMX. Their correlation of 0.92 suggests significant overlap in exposure. FZROX charges 0.00%/yr vs 0.96%/yr for ALSMX.

Performance

FZROX vs. ALSMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity ZERO Total Market Index Fund (FZROX) and Archer Multi Cap Fund (ALSMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FZROX achieves a 12.01% return, which is significantly lower than ALSMX's 26.71% return.

FZROX

• 1D: 0.23%
• 1M: 5.79%
• YTD: 12.01%
• 6M: 11.92%
• 1Y: 29.16%
• 3Y*: 22.49%
• 5Y*: 13.30%
• 10Y*: —

ALSMX

• 1D: 1.82%
• 1M: 5.77%
• YTD: 26.71%
• 6M: 25.30%
• 1Y: 42.63%
• 3Y*: 25.83%
• 5Y*: 13.86%
• 10Y*: —

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

FZROX vs. ALSMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
FZROX Fidelity ZERO Total Market Index Fund	12.01%	17.23%	23.94%	26.20%	-19.21%	26.00%	20.51%
ALSMX Archer Multi Cap Fund	26.71%	11.47%	21.78%	25.14%	-20.12%	16.58%	16.01%

Correlation

The correlation between FZROX and ALSMX is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.86
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (All Time) Calculated using the full available price history since Jan 2, 2020	0.92

The correlation between FZROX and ALSMX has been stable across timeframes, ranging from 0.86 to 0.92 - a consistent structural relationship.

Return for Risk

FZROX vs. ALSMX — Risk / Return Rank

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

FZROX

FZROX Risk / Return Rank: 72
FZROX Sharpe Ratio Rank: 72
FZROX Sortino Ratio Rank: 65
FZROX Omega Ratio Rank: 63
FZROX Calmar Ratio Rank: 75
FZROX Martin Ratio Rank: 83

ALSMX

ALSMX Risk / Return Rank: 84
ALSMX Sharpe Ratio Rank: 84
ALSMX Sortino Ratio Rank: 78
ALSMX Omega Ratio Rank: 73
ALSMX Calmar Ratio Rank: 90
ALSMX Martin Ratio Rank: 93

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.

FZROX vs. ALSMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity ZERO Total Market Index Fund (FZROX) and Archer Multi Cap Fund (ALSMX). 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.

	FZROX	ALSMX	Difference
Sharpe ratio: Return per unit of total volatility	2.47	2.74	-0.27
Sortino ratio: Return per unit of downside risk	3.36	3.72	-0.36
Omega ratio: Gain probability vs. loss probability	1.45	1.48	-0.04
Calmar ratio: Return relative to maximum drawdown	3.39	4.69	-1.29
Martin ratio: Return relative to average drawdown	15.66	20.53	-4.87
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FZROX vs. ALSMX - Sharpe Ratio Comparison

The current FZROX Sharpe Ratio is 2.47, which is comparable to the ALSMX Sharpe Ratio of 2.74. The chart below compares the historical Sharpe Ratios of FZROX and ALSMX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FZROX	ALSMX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.47	2.74	-0.27
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.77	0.01	+0.76
Sharpe Ratio (All Time) Calculated using the full available price history	0.73	0.01	+0.72

Drawdowns

FZROX vs. ALSMX - Drawdown Comparison

The maximum FZROX drawdown since its inception was -34.96%, smaller than the maximum ALSMX drawdown of -97.87%. Use the drawdown chart below to compare losses from any high point for FZROX and ALSMX.

Drawdown Indicators

	FZROX	ALSMX	Difference
Max Drawdown Largest peak-to-trough decline	-34.96%	-97.87%	+62.91%
Max Drawdown (1Y) Largest decline over 1 year	-8.89%	-9.42%	+0.53%
Max Drawdown (3Y) Largest decline over 3 years	-19.38%	-97.87%	+78.49%
Max Drawdown (5Y) Largest decline over 5 years	-25.12%	-97.87%	+72.75%
Current Drawdown Current decline from peak	0.00%	-96.39%	+96.39%
Average Drawdown Average peak-to-trough decline	-5.51%	-27.98%	+22.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.92%	2.15%	-0.23%

Volatility

FZROX vs. ALSMX - Volatility Comparison

The current volatility for Fidelity ZERO Total Market Index Fund (FZROX) is 2.99%, while Archer Multi Cap Fund (ALSMX) has a volatility of 5.13%. This indicates that FZROX experiences smaller price fluctuations and is considered to be less risky than ALSMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FZROX	ALSMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.99%	5.13%	-2.14%
Volatility (6M) Calculated over the trailing 6-month period	9.22%	13.27%	-4.05%
Volatility (1Y) Calculated over the trailing 1-year period	12.22%	16.14%	-3.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.44%	1,291.55%	-1,274.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.13%	1,140.59%	-1,120.46%

FZROX vs. ALSMX - Expense Ratio Comparison

FZROX has a 0.00% expense ratio, which is lower than ALSMX's 0.96% expense ratio.

Dividends

FZROX vs. ALSMX - Dividend Comparison

FZROX's dividend yield for the trailing twelve months is around 0.91%, less than ALSMX's 5.65% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
ALSMX Archer Multi Cap Fund	5.65%	7.16%	3.62%	0.46%	7.12%	1.62%	0.43%	0.00%
FZROX Fidelity ZERO Total Market Index Fund	0.91%	1.02%	1.16%	1.36%	1.57%	1.25%	1.27%	1.51%

Frequently Asked Questions

Can I hold both FZROX and ALSMX in my portfolio?

FZROX and ALSMX have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FZROX or ALSMX?

ALSMX has higher volatility (5.13%) compared to FZROX (2.99%). In terms of maximum drawdown, FZROX dropped -34.96% vs ALSMX's -97.87%.

Which has better risk-adjusted returns?

ALSMX currently has the higher Sharpe Ratio (2.74 vs 2.47), 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.