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FZROX vs. SLV
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FZROX vs. SLV

Last updated Jun 13, 2026

FZROX (Fidelity ZERO Total Market Index Fund) and SLV (iShares Silver Trust) are both funds - FZROX is a Large Cap Blend Equities fund managed by Fidelity, while SLV is a Silver fund tracking the LBMA Silver Price. Over the past 5 years, FZROX returned 12.34%/yr vs 18.83%/yr for SLV. At a 0.21 correlation, their price movements are largely independent. FZROX charges 0.00%/yr vs 0.50%/yr for SLV.

Performance

FZROX vs. SLV - Performance Comparison

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

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Returns By Period

In the year-to-date period, FZROX achieves a 9.14% return, which is significantly higher than SLV's -4.86% return.

FZROX

1D
1.90%
1M
0.00%
YTD
9.14%
6M
9.23%
1Y
24.28%
3Y*
20.84%
5Y*
12.34%
10Y*
—

SLV

1D
0.77%
1M
-22.76%
YTD
-4.86%
6M
9.25%
1Y
85.39%
3Y*
41.27%
5Y*
18.83%
10Y*
13.99%
*Multi-year figures are annualized to reflect compound growth (CAGR)

FZROX vs. SLV - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
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%
SLV
iShares Silver Trust		-4.86%144.66%20.89%-1.09%2.37%-12.45%47.30%14.88%7.00%

Correlation

The correlation between FZROX and SLV is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.30

Correlation (3Y)
Calculated over the trailing 3-year period

0.26

Correlation (5Y)
Calculated over the trailing 5-year period

0.24

Correlation (All Time)
Calculated using the full available price history since Aug 16, 2018

0.21

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Fidelity ZERO Total Market Index Fund

iShares Silver Trust

Often compared with FZROX:
FZROX vs. FXAIXFZROX vs. VTIFZROX vs. FNILXFZROX vs. FSKAXFZROX vs. FZILXFZROX vs. VOOFZROX vs. SPY
Often compared with SLV:
SLV vs. GLDSLV vs. SIVRSLV vs. PSLVSLV vs. SILSLV vs. SILJSLV vs. SLVPSLV vs. AGQ

Return for Risk

FZROX vs. SLV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FZROX
FZROX Risk / Return Rank: 7272
Overall Rank
FZROX Sharpe Ratio Rank: 7171
Sharpe Ratio Rank
FZROX Sortino Ratio Rank: 6666
Sortino Ratio Rank
FZROX Omega Ratio Rank: 6666
Omega Ratio Rank
FZROX Calmar Ratio Rank: 7575
Calmar Ratio Rank
FZROX Martin Ratio Rank: 8484
Martin Ratio Rank
SLV
SLV Risk / Return Rank: 4242
Overall Rank
SLV Sharpe Ratio Rank: 4747
Sharpe Ratio Rank
SLV Sortino Ratio Rank: 3838
Sortino Ratio Rank
SLV Omega Ratio Rank: 5353
Omega Ratio Rank
SLV Calmar Ratio Rank: 4343
Calmar Ratio Rank
SLV Martin Ratio Rank: 3232
Martin Ratio Rank
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. SLV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity ZERO Total Market Index Fund (FZROX) and iShares Silver Trust (SLV). 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.

FZROXSLVDifference
Sharpe ratioReturn per unit of total volatility
1.94
1.44

+0.50

Sortino ratioReturn per unit of downside risk
2.64
1.76

+0.88

Omega ratioGain probability vs. loss probability

1.35

1.29

+0.06

Calmar ratioReturn relative to maximum drawdown

2.78

1.89

+0.89

Martin ratioReturn relative to average drawdown

12.51

4.10

+8.41

FZROX vs. SLV - Sharpe Ratio Comparison

The current FZROX Sharpe Ratio is 1.94, which is higher than the SLV Sharpe Ratio of 1.44. The chart below compares the historical Sharpe Ratios of FZROX and SLV, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

FZROX vs. SLV - Drawdown Comparison

The maximum FZROX drawdown since its inception was -34.96%, smaller than the maximum SLV drawdown of -76.28%. Use the drawdown chart below to compare losses from any high point for FZROX and SLV.

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Drawdown Indicators

FZROXSLVDifference

Max Drawdown

Largest peak-to-trough decline

-34.96%

-76.28%

+41.32%

Max Drawdown (1Y)

Largest decline over 1 year

-8.89%

-45.40%

+36.51%

Max Drawdown (3Y)

Largest decline over 3 years

-19.38%

-45.40%

+26.02%

Max Drawdown (5Y)

Largest decline over 5 years

-25.12%

-45.40%

+20.28%

Max Drawdown (10Y)

Largest decline over 10 years

—

-45.40%

—

Current Drawdown

Current decline from peak

-2.57%

-41.96%

+39.39%

Average Drawdown

Average peak-to-trough decline

-5.50%

-44.66%

+39.16%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.97%

20.88%

-18.91%

Volatility

FZROX vs. SLV - Volatility Comparison

The current volatility for Fidelity ZERO Total Market Index Fund (FZROX) is 4.66%, while iShares Silver Trust (SLV) has a volatility of 16.34%. This indicates that FZROX experiences smaller price fluctuations and is considered to be less risky than SLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FZROXSLVDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.66%

16.34%

-11.68%

Volatility (6M)

Calculated over the trailing 6-month period

9.98%

59.10%

-49.12%

Volatility (1Y)

Calculated over the trailing 1-year period

12.76%

59.82%

-47.06%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.51%

36.46%

-18.95%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.14%

32.00%

-11.86%

FZROX vs. SLV - Expense Ratio Comparison

FZROX has a 0.00% expense ratio, which is lower than SLV's 0.50% expense ratio.

Dividends

FZROX vs. SLV - Dividend Comparison

FZROX's dividend yield for the trailing twelve months is around 0.94%, while SLV has not paid dividends to shareholders.

PositionTTM2025202420232022202120202019
FZROX
Fidelity ZERO Total Market Index Fund		0.94%1.02%1.16%1.36%1.57%1.25%1.27%1.51%
SLV
iShares Silver Trust		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

FZROX and SLV have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SLV has higher volatility (16.34%) compared to FZROX (4.66%). In terms of maximum drawdown, FZROX dropped -34.96% vs SLV's -76.28%.

FZROX currently has the higher Sharpe Ratio (1.94 vs 1.44), 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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