LWAY vs. FZROX

Last updated Jun 3, 2026

LWAY (Lifeway Foods, Inc.) is a stock, while FZROX (Fidelity ZERO Total Market Index Fund) is Large Cap Blend Equities fund managed by Fidelity. Over the past 5 years, LWAY returned 33.69%/yr vs 13.14%/yr for FZROX. At a 0.22 correlation, their price movements are largely independent.

Performance

LWAY vs. FZROX - Performance Comparison

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

Returns By Period

In the year-to-date period, LWAY achieves a -6.77% return, which is significantly lower than FZROX's 11.76% return.

LWAY

• 1D: -3.59%
• 1M: -16.64%
• YTD: -6.77%
• 6M: -7.40%
• 1Y: -5.28%
• 3Y*: 55.22%
• 5Y*: 33.69%
• 10Y*: 9.32%

FZROX

• 1D: 0.27%
• 1M: 5.13%
• YTD: 11.76%
• 6M: 12.13%
• 1Y: 29.74%
• 3Y*: 22.40%
• 5Y*: 13.14%
• 10Y*: —

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

LWAY vs. FZROX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
LWAY Lifeway Foods, Inc.	-6.77%	-2.30%	84.94%	141.62%	20.65%	-14.97%	171.86%	5.85%	-47.78%
FZROX Fidelity ZERO Total Market Index Fund	11.76%	17.23%	23.94%	26.20%	-19.21%	26.00%	20.51%	31.15%	-12.72%

Correlation

The correlation between LWAY and FZROX is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.31
Correlation (3Y) Calculated over the trailing 3-year period	0.25
Correlation (5Y) Calculated over the trailing 5-year period	0.23
Correlation (All Time) Calculated using the full available price history since Aug 17, 2018	0.22

Return for Risk

LWAY vs. FZROX — Risk / Return Rank

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

LWAY

LWAY Risk / Return Rank: 36
LWAY Sharpe Ratio Rank: 35
LWAY Sortino Ratio Rank: 33
LWAY Omega Ratio Rank: 33
LWAY Calmar Ratio Rank: 39
LWAY Martin Ratio Rank: 39

FZROX

FZROX Risk / Return Rank: 72
FZROX Sharpe Ratio Rank: 73
FZROX Sortino Ratio Rank: 65
FZROX Omega Ratio Rank: 65
FZROX Calmar Ratio Rank: 75
FZROX Martin Ratio Rank: 83

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.

LWAY vs. FZROX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Lifeway Foods, Inc. (LWAY) and Fidelity ZERO Total Market Index Fund (FZROX). 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.

	LWAY	FZROX	Difference
Sharpe ratio Return per unit of total volatility	-0.12	2.49	-2.61
Sortino ratio Return per unit of downside risk	0.14	3.38	-3.24
Omega ratio Gain probability vs. loss probability	1.02	1.45	-0.43
Calmar ratio Return relative to maximum drawdown	-0.00	3.40	-3.40
Martin ratio Return relative to average drawdown	-0.00	15.73	-15.73
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LWAY vs. FZROX - Sharpe Ratio Comparison

The current LWAY Sharpe Ratio is -0.12, which is lower than the FZROX Sharpe Ratio of 2.49. The chart below compares the historical Sharpe Ratios of LWAY and FZROX, 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

	LWAY	FZROX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.12	2.49	-2.61
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.51	0.76	-0.25
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.14	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.17	0.73	-0.55

Drawdowns

LWAY vs. FZROX - Drawdown Comparison

The maximum LWAY drawdown since its inception was -93.15%, which is greater than FZROX's maximum drawdown of -34.96%. Use the drawdown chart below to compare losses from any high point for LWAY and FZROX.

Drawdown Indicators

	LWAY	FZROX	Difference
Max Drawdown Largest peak-to-trough decline	-93.15%	-34.96%	-58.19%
Max Drawdown (1Y) Largest decline over 1 year	-47.37%	-8.89%	-38.48%
Max Drawdown (3Y) Largest decline over 3 years	-60.45%	-19.38%	-41.07%
Max Drawdown (5Y) Largest decline over 5 years	-60.45%	-25.12%	-35.33%
Max Drawdown (10Y) Largest decline over 10 years	-91.85%	—	—
Current Drawdown Current decline from peak	-33.21%	0.00%	-33.21%
Average Drawdown Average peak-to-trough decline	-44.12%	-5.51%	-38.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	25.84%	1.92%	+23.92%

Volatility

LWAY vs. FZROX - Volatility Comparison

Lifeway Foods, Inc. (LWAY) has a higher volatility of 14.72% compared to Fidelity ZERO Total Market Index Fund (FZROX) at 2.99%. This indicates that LWAY's price experiences larger fluctuations and is considered to be riskier than FZROX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LWAY	FZROX	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.72%	2.99%	+11.73%
Volatility (6M) Calculated over the trailing 6-month period	30.00%	9.23%	+20.77%
Volatility (1Y) Calculated over the trailing 1-year period	44.44%	12.25%	+32.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	66.88%	17.44%	+49.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	68.56%	20.14%	+48.42%

Dividends

LWAY vs. FZROX - Dividend Comparison

LWAY has not paid dividends to shareholders, while FZROX's dividend yield for the trailing twelve months is around 0.92%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
FZROX Fidelity ZERO Total Market Index Fund	0.92%	1.02%	1.16%	1.36%	1.57%	1.25%	1.27%	1.51%
LWAY Lifeway Foods, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both LWAY and FZROX in my portfolio?

LWAY and FZROX have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LWAY or FZROX?

LWAY has higher volatility (14.72%) compared to FZROX (2.99%). In terms of maximum drawdown, LWAY dropped -93.15% vs FZROX's -34.96%.

Which has better risk-adjusted returns?

FZROX currently has the higher Sharpe Ratio (2.49 vs -0.12), 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.