ITOT vs. FZILX

Last updated Jun 16, 2026

ITOT (iShares Core S&P Total U.S. Stock Market ETF) and FZILX (Fidelity ZERO International Index Fund) are both funds - ITOT is a Large Cap Blend Equities fund tracking the S&P Total Market Index, while FZILX is a Foreign Large Cap Equities fund tracking the Fidelity Global ex U.S. Index. Both are passively managed. Over the past 5 years, ITOT returned 12.72%/yr vs 8.89%/yr for FZILX. A 0.79 correlation means they provide meaningful diversification when combined. ITOT charges 0.03%/yr vs 0.00%/yr for FZILX.

Performance

ITOT vs. FZILX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core S&P Total U.S. Stock Market ETF (ITOT) and Fidelity ZERO International Index Fund (FZILX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ITOT achieves a 11.54% return, which is significantly lower than FZILX's 14.46% return.

ITOT

• 1D: 1.69%
• 1M: 2.72%
• YTD: 11.54%
• 6M: 11.87%
• 1Y: 28.43%
• 3Y*: 20.94%
• 5Y*: 12.72%
• 10Y*: 15.20%

FZILX

• 1D: 0.60%
• 1M: 3.44%
• YTD: 14.46%
• 6M: 15.88%
• 1Y: 31.18%
• 3Y*: 19.17%
• 5Y*: 8.89%
• 10Y*: —

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

ITOT vs. FZILX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
ITOT iShares Core S&P Total U.S. Stock Market ETF	11.54%	17.00%	23.80%	26.12%	-19.47%	25.68%	20.71%	30.67%	-11.40%
FZILX Fidelity ZERO International Index Fund	14.46%	33.52%	5.32%	16.28%	-15.96%	8.19%	11.06%	21.69%	-9.38%

Correlation

The correlation between ITOT and FZILX is 0.81, 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	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.77
Correlation (All Time) Calculated using the full available price history since Aug 16, 2018	0.79

The correlation between ITOT and FZILX has been stable across timeframes, ranging from 0.75 to 0.81 - a consistent structural relationship.

Return for Risk

ITOT vs. FZILX — Risk / Return Rank

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

ITOT

ITOT Risk / Return Rank: 77
ITOT Sharpe Ratio Rank: 79
ITOT Sortino Ratio Rank: 76
ITOT Omega Ratio Rank: 77
ITOT Calmar Ratio Rank: 70
ITOT Martin Ratio Rank: 81

FZILX

FZILX Risk / Return Rank: 58
FZILX Sharpe Ratio Rank: 58
FZILX Sortino Ratio Rank: 53
FZILX Omega Ratio Rank: 59
FZILX Calmar Ratio Rank: 61
FZILX Martin Ratio Rank: 58

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.

ITOT vs. FZILX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core S&P Total U.S. Stock Market ETF (ITOT) and Fidelity ZERO International Index Fund (FZILX). 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.

	ITOT	FZILX	Difference
Sharpe ratio: Return per unit of total volatility	2.24	1.90	+0.34
Sortino ratio: Return per unit of downside risk	3.02	2.60	+0.43
Omega ratio: Gain probability vs. loss probability	1.40	1.36	+0.05
Calmar ratio: Return relative to maximum drawdown	3.21	2.64	+0.57
Martin ratio: Return relative to average drawdown	14.33	10.15	+4.18

ITOT vs. FZILX - Sharpe Ratio Comparison

The current ITOT Sharpe Ratio is 2.24, which is comparable to the FZILX Sharpe Ratio of 1.90. The chart below compares the historical Sharpe Ratios of ITOT and FZILX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ITOT vs. FZILX - Drawdown Comparison

The maximum ITOT drawdown since its inception was -55.20%, which is greater than FZILX's maximum drawdown of -34.37%. Use the drawdown chart below to compare losses from any high point for ITOT and FZILX.

Drawdown Indicators

	ITOT	FZILX	Difference
Max Drawdown Largest peak-to-trough decline	-55.20%	-34.37%	-20.83%
Max Drawdown (1Y) Largest decline over 1 year	-8.90%	-11.24%	+2.34%
Max Drawdown (3Y) Largest decline over 3 years	-19.44%	-13.47%	-5.97%
Max Drawdown (5Y) Largest decline over 5 years	-25.36%	-29.87%	+4.51%
Max Drawdown (10Y) Largest decline over 10 years	-35.00%	—	—
Current Drawdown Current decline from peak	-0.47%	-1.58%	+1.11%
Average Drawdown Average peak-to-trough decline	-6.96%	-6.68%	-0.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.99%	2.92%	-0.93%

Volatility

ITOT vs. FZILX - Volatility Comparison

The current volatility for iShares Core S&P Total U.S. Stock Market ETF (ITOT) is 4.81%, while Fidelity ZERO International Index Fund (FZILX) has a volatility of 6.65%. This indicates that ITOT experiences smaller price fluctuations and is considered to be less risky than FZILX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ITOT	FZILX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.81%	6.65%	-1.84%
Volatility (6M) Calculated over the trailing 6-month period	9.97%	13.40%	-3.43%
Volatility (1Y) Calculated over the trailing 1-year period	12.75%	15.59%	-2.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.45%	15.70%	+1.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.31%	17.39%	+0.92%

ITOT vs. FZILX - Expense Ratio Comparison

ITOT has a 0.03% expense ratio, which is higher than FZILX's 0.00% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

ITOT vs. FZILX - Dividend Comparison

ITOT's dividend yield for the trailing twelve months is around 1.23%, less than FZILX's 2.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FZILX Fidelity ZERO International Index Fund	2.34%	2.67%	3.00%	2.98%	2.71%	2.61%	1.64%	2.37%	0.02%	0.00%	0.00%	0.00%
ITOT iShares Core S&P Total U.S. Stock Market ETF	1.23%	1.11%	1.23%	1.47%	1.66%	1.18%	1.41%	1.88%	2.14%	1.69%	1.83%	2.01%

Frequently Asked Questions

Can I hold both ITOT and FZILX in my portfolio?

ITOT and FZILX have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ITOT or FZILX?

FZILX has higher volatility (6.65%) compared to ITOT (4.81%). In terms of maximum drawdown, ITOT dropped -55.20% vs FZILX's -34.37%.

Which has better risk-adjusted returns?

ITOT currently has the higher Sharpe Ratio (2.24 vs 1.90), 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.