FZROX vs. IOO
FZROX (Fidelity ZERO Total Market Index Fund) and IOO (iShares Global 100 ETF) are both funds - FZROX is a Large Cap Blend Equities fund managed by Fidelity, while IOO is a Global Equities fund tracking the S&P Global 100 Index (Net). Over the past 5 years, FZROX returned 12.34%/yr vs 15.85%/yr for IOO. Their correlation of 0.93 suggests significant overlap in exposure. FZROX charges 0.00%/yr vs 0.40%/yr for IOO.
Performance
FZROX vs. IOO - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with FZROX having a 9.14% return and IOO slightly higher at 9.16%.
FZROX
- 1D
- 1.90%
- 1M
- 0.00%
- YTD
- 9.14%
- 6M
- 9.23%
- 1Y
- 24.28%
- 3Y*
- 20.84%
- 5Y*
- 12.34%
- 10Y*
- —
IOO
- 1D
- 0.11%
- 1M
- -2.09%
- YTD
- 9.16%
- 6M
- 10.36%
- 1Y
- 31.99%
- 3Y*
- 23.85%
- 5Y*
- 15.85%
- 10Y*
- 16.66%
FZROX vs. IOO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FZROX Fidelity ZERO Total Market Index Fund | 9.14% | 17.23% | 23.94% | 26.20% | -19.21% | 26.00% | 20.51% | 31.15% | -12.72% |
IOO iShares Global 100 ETF | 9.16% | 27.02% | 26.54% | 27.71% | -16.34% | 26.03% | 18.61% | 30.01% | -9.13% |
Correlation
The correlation between FZROX and IOO is 0.92, 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 | 0.92 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.91 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Aug 16, 2018 | 0.93 |
The correlation between FZROX and IOO has been stable across timeframes, ranging from 0.91 to 0.93 - a consistent structural relationship.
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Return for Risk
FZROX vs. IOO — Risk / Return Rank
FZROX
IOO
FZROX vs. IOO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity ZERO Total Market Index Fund (FZROX) and iShares Global 100 ETF (IOO). 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.
| FZROX | IOO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.35 | ||
| Sortino ratioReturn per unit of downside risk | -0.45 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.41 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.78 | 3.23 | -0.45 |
| Martin ratioReturn relative to average drawdown | 12.51 | 14.35 | -1.84 |
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Drawdowns
FZROX vs. IOO - Drawdown Comparison
The maximum FZROX drawdown since its inception was -34.96%, smaller than the maximum IOO drawdown of -55.85%. Use the drawdown chart below to compare losses from any high point for FZROX and IOO.
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Drawdown Indicators
| FZROX | IOO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.96% | -55.85% | +20.89% |
Max Drawdown (1Y)Largest decline over 1 year | -8.89% | -9.94% | +1.05% |
Max Drawdown (3Y)Largest decline over 3 years | -19.38% | -19.19% | -0.19% |
Max Drawdown (5Y)Largest decline over 5 years | -25.12% | -23.52% | -1.60% |
Max Drawdown (10Y)Largest decline over 10 years | — | -31.43% | — |
Current DrawdownCurrent decline from peak | -2.57% | -4.05% | +1.48% |
Average DrawdownAverage peak-to-trough decline | -5.50% | -11.26% | +5.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.97% | 2.24% | -0.27% |
Volatility
FZROX vs. IOO - Volatility Comparison
Fidelity ZERO Total Market Index Fund (FZROX) and iShares Global 100 ETF (IOO) have volatilities of 4.66% and 4.82%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FZROX | IOO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.66% | 4.82% | -0.16% |
Volatility (6M)Calculated over the trailing 6-month period | 9.98% | 11.31% | -1.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.76% | 14.07% | -1.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.51% | 17.12% | +0.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.14% | 17.80% | +2.34% |
FZROX vs. IOO - Expense Ratio Comparison
FZROX has a 0.00% expense ratio, which is lower than IOO's 0.40% expense ratio.
Dividends
FZROX vs. IOO - Dividend Comparison
FZROX's dividend yield for the trailing twelve months is around 0.94%, more than IOO's 0.84% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FZROX Fidelity ZERO Total Market Index Fund | 0.94% | 1.02% | 1.16% | 1.36% | 1.57% | 1.25% | 1.27% | 1.51% | 0.00% | 0.00% | 0.00% | 0.00% |
IOO iShares Global 100 ETF | 0.84% | 0.92% | 1.08% | 1.49% | 2.00% | 1.53% | 1.49% | 2.02% | 2.54% | 2.23% | 2.75% | 2.89% |
Frequently Asked Questions
With a correlation of 0.92, FZROX and IOO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
IOO has higher volatility (4.82%) compared to FZROX (4.66%). In terms of maximum drawdown, FZROX dropped -34.96% vs IOO's -55.85%.
IOO currently has the higher Sharpe Ratio (2.28 vs 1.94), 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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