WWD vs. FZROX

Last updated Jun 23, 2026

WWD (Woodward, 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, WWD returned 29.41%/yr vs 13.13%/yr for FZROX. A 0.59 correlation means they provide meaningful diversification when combined.

Performance

WWD vs. FZROX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Woodward, Inc. (WWD) 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, WWD achieves a 41.42% return, which is significantly higher than FZROX's 10.74% return.

WWD

• 1D: -0.76%
• 1M: 21.48%
• YTD: 41.42%
• 6M: 35.64%
• 1Y: 80.13%
• 3Y*: 56.06%
• 5Y*: 29.41%
• 10Y*: 23.37%

FZROX

• 1D: 1.16%
• 1M: 0.93%
• YTD: 10.74%
• 6M: 10.00%
• 1Y: 27.63%
• 3Y*: 20.80%
• 5Y*: 13.13%
• 10Y*: —

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

WWD vs. FZROX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
WWD Woodward, Inc.	41.42%	82.58%	23.01%	41.97%	-11.09%	-9.43%	3.18%	60.42%	-4.90%
FZROX Fidelity ZERO Total Market Index Fund	10.74%	17.23%	23.94%	26.20%	-19.21%	26.00%	20.51%	31.15%	-12.72%

Correlation

The correlation between WWD and FZROX is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (3Y) Calculated over the trailing 3-year period	0.51
Correlation (5Y) Calculated over the trailing 5-year period	0.58
Correlation (All Time) Calculated using the full available price history since Aug 16, 2018	0.59

The correlation between WWD and FZROX shifts across timeframes, from 0.47 (1 year) to 0.59 (all time), reflecting how their relationship changes across market environments.

Return for Risk

WWD vs. FZROX — Risk / Return Rank

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

WWD

WWD Risk / Return Rank: 91
WWD Sharpe Ratio Rank: 91
WWD Sortino Ratio Rank: 92
WWD Omega Ratio Rank: 89
WWD Calmar Ratio Rank: 93
WWD Martin Ratio Rank: 92

FZROX

FZROX Risk / Return Rank: 66
FZROX Sharpe Ratio Rank: 63
FZROX Sortino Ratio Rank: 57
FZROX Omega Ratio Rank: 58
FZROX Calmar Ratio Rank: 71
FZROX Martin Ratio Rank: 80

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.

WWD vs. FZROX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Woodward, Inc. (WWD) 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.

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.

	WWD	FZROX	Difference
Sharpe ratio: Return per unit of total volatility	2.23	2.14	+0.09
Sortino ratio: Return per unit of downside risk	3.34	2.90	+0.45
Omega ratio: Gain probability vs. loss probability	1.40	1.38	+0.01
Calmar ratio: Return relative to maximum drawdown	5.31	3.10	+2.21
Martin ratio: Return relative to average drawdown	12.96	13.86	-0.90

WWD vs. FZROX - Sharpe Ratio Comparison

The current WWD Sharpe Ratio is 2.23, which is comparable to the FZROX Sharpe Ratio of 2.14. The chart below compares the historical Sharpe Ratios of WWD 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.

Drawdowns

WWD vs. FZROX - Drawdown Comparison

The maximum WWD drawdown since its inception was -83.18%, which is greater than FZROX's maximum drawdown of -34.96%. Use the drawdown chart below to compare losses from any high point for WWD and FZROX.

Drawdown Indicators

	WWD	FZROX	Difference
Max Drawdown Largest peak-to-trough decline	-83.18%	-34.96%	-48.22%
Max Drawdown (1Y) Largest decline over 1 year	-15.17%	-8.89%	-6.28%
Max Drawdown (3Y) Largest decline over 3 years	-19.31%	-19.38%	+0.07%
Max Drawdown (5Y) Largest decline over 5 years	-37.25%	-25.12%	-12.13%
Max Drawdown (10Y) Largest decline over 10 years	-60.61%	—	—
Current Drawdown Current decline from peak	-1.84%	-1.13%	-0.71%
Average Drawdown Average peak-to-trough decline	-17.86%	-5.49%	-12.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.20%	1.98%	+4.22%

Volatility

WWD vs. FZROX - Volatility Comparison

Woodward, Inc. (WWD) has a higher volatility of 12.11% compared to Fidelity ZERO Total Market Index Fund (FZROX) at 4.94%. This indicates that WWD'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

	WWD	FZROX	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.11%	4.94%	+7.17%
Volatility (6M) Calculated over the trailing 6-month period	28.99%	10.16%	+18.83%
Volatility (1Y) Calculated over the trailing 1-year period	36.16%	12.85%	+23.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.19%	17.53%	+14.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.46%	20.13%	+15.33%

Dividends

WWD vs. FZROX - Dividend Comparison

WWD's dividend yield for the trailing twelve months is around 0.28%, less than FZROX's 0.92% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FZROX Fidelity ZERO Total Market Index Fund	0.92%	1.02%	1.16%	1.36%	1.57%	1.25%	1.27%	1.51%	0.00%	0.00%	0.00%	0.00%
WWD Woodward, Inc.	0.28%	0.37%	0.60%	0.65%	0.79%	0.59%	0.43%	0.55%	0.77%	0.65%	0.64%	0.81%

Frequently Asked Questions

Can I hold both WWD and FZROX in my portfolio?

WWD and FZROX have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WWD or FZROX?

WWD has higher volatility (12.11%) compared to FZROX (4.94%). In terms of maximum drawdown, WWD dropped -83.18% vs FZROX's -34.96%.

Which has better risk-adjusted returns?

WWD currently has the higher Sharpe Ratio (2.23 vs 2.14), 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.