IVVM vs. FNILX
IVVM (iShares Large Cap Moderate Buffer ETF) and FNILX (Fidelity ZERO Large Cap Index Fund) are both funds - IVVM is a Options Trading fund actively managed by iShares, while FNILX is a Large Cap Blend Equities fund managed by Fidelity. Over the past year, IVVM returned 15.78% vs 26.85% for FNILX. Their correlation of 0.93 suggests significant overlap in exposure. IVVM charges 0.50%/yr vs 0.00%/yr for FNILX.
Performance
IVVM vs. FNILX - Performance Comparison
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Returns By Period
In the year-to-date period, IVVM achieves a 6.01% return, which is significantly lower than FNILX's 10.04% return.
IVVM
- 1D
- -0.10%
- 1M
- 0.38%
- YTD
- 6.01%
- 6M
- 5.79%
- 1Y
- 15.78%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FNILX
- 1D
- 1.13%
- 1M
- 0.71%
- YTD
- 10.04%
- 6M
- 9.55%
- 1Y
- 26.85%
- 3Y*
- 21.23%
- 5Y*
- 13.82%
- 10Y*
- —
IVVM vs. FNILX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
IVVM iShares Large Cap Moderate Buffer ETF | 6.01% | 14.24% | 16.08% | 5.17% |
FNILX Fidelity ZERO Large Cap Index Fund | 10.04% | 17.81% | 25.47% | 9.90% |
Correlation
The correlation between IVVM and FNILX is 0.93, 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 | 0.93 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2023 | 0.93 |
The correlation between IVVM and FNILX has been stable across timeframes, ranging from 0.93 to 0.93 - a consistent structural relationship.
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Return for Risk
IVVM vs. FNILX — Risk / Return Rank
IVVM
FNILX
IVVM vs. FNILX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Large Cap Moderate Buffer ETF (IVVM) and Fidelity ZERO Large Cap Index Fund (FNILX). 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.
| IVVM | FNILX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.09 | ||
| Sortino ratioReturn per unit of downside risk | +0.30 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.38 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.99 | 2.96 | +0.03 |
| Martin ratioReturn relative to average drawdown | 14.72 | 13.10 | +1.62 |
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Drawdowns
IVVM vs. FNILX - Drawdown Comparison
The maximum IVVM drawdown since its inception was -11.62%, smaller than the maximum FNILX drawdown of -33.76%. Use the drawdown chart below to compare losses from any high point for IVVM and FNILX.
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Drawdown Indicators
| IVVM | FNILX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.62% | -33.76% | +22.14% |
Max Drawdown (1Y)Largest decline over 1 year | -5.31% | -9.01% | +3.70% |
Max Drawdown (3Y)Largest decline over 3 years | — | -19.08% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.40% | — |
Current DrawdownCurrent decline from peak | -0.16% | -1.36% | +1.20% |
Average DrawdownAverage peak-to-trough decline | -0.91% | -5.35% | +4.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.07% | 2.03% | -0.96% |
Volatility
IVVM vs. FNILX - Volatility Comparison
The current volatility for iShares Large Cap Moderate Buffer ETF (IVVM) is 1.77%, while Fidelity ZERO Large Cap Index Fund (FNILX) has a volatility of 4.91%. This indicates that IVVM experiences smaller price fluctuations and is considered to be less risky than FNILX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IVVM | FNILX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.77% | 4.91% | -3.14% |
Volatility (6M)Calculated over the trailing 6-month period | 5.73% | 9.97% | -4.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.19% | 12.58% | -5.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.59% | 17.35% | -7.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.59% | 20.04% | -10.45% |
IVVM vs. FNILX - Expense Ratio Comparison
IVVM has a 0.50% expense ratio, which is higher than FNILX's 0.00% expense ratio.
Dividends
IVVM vs. FNILX - Dividend Comparison
IVVM's dividend yield for the trailing twelve months is around 0.64%, less than FNILX's 0.92% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
FNILX Fidelity ZERO Large Cap Index Fund | 0.92% | 1.01% | 1.09% | 1.34% | 1.53% | 0.95% | 1.20% | 1.17% | 0.53% |
IVVM iShares Large Cap Moderate Buffer ETF | 0.64% | 0.68% | 0.62% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.93, IVVM and FNILX 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.
FNILX has higher volatility (4.91%) compared to IVVM (1.77%). In terms of maximum drawdown, IVVM dropped -11.62% vs FNILX's -33.76%.
IVVM currently has the higher Sharpe Ratio (2.21 vs 2.12), 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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