FNILX vs FXAIX
FNILX vs FXAIX
Fidelity ZERO Large Cap Index Fund vs Fidelity 500 Index Fund
Quick Verdict
FNILX has a lower expense ratio. FXAIX delivered stronger 1-year returns. FNILX offers more diversification with 511 holdings.
Side-by-Side Comparison
| Metric | FNILX | FXAIX | Winner |
|---|---|---|---|
| Expense Ratio | 0.00% | 0.02% | |
| AUM | - | $594.0B | |
| Dividend Yield | 0.92% | 1.04% | |
| Holdings | 512 | 1,009 | |
| YTD Return | +9.61% | +9.29% | |
| 1Y Return | +17.75% | +18.19% | |
| 3Y Return (annualized) | +18.23% | +17.90% | |
| 5Y Return (annualized) | +11.17% | +11.26% | |
| Volatility (annualized) | 15.6% | 15.7% | |
| Max Drawdown | -26.6% | -25.4% | |
| Fund Family | Fidelity Investments (US) | Fidelity Investments (US) | |
| Category | Equity | Equity | |
| Inception | Sep 13, 2018 | May 4, 2011 |
FNILX vs FXAIX Performance
Fidelity ZERO Large Cap Index Fund (FNILX) is a mutual fund from Fidelity Investments (US) and Fidelity 500 Index Fund (FXAIX) is a mutual fund from Fidelity Investments (US). Over the past year FNILX returned +17.75% while FXAIX returned +18.19%. Year to date, FNILX is up 9.61% versus a gain of 9.29% for FXAIX.
Over three years, FNILX compounded at +18.23% per year against +17.90% for FXAIX; over five years the annualized figures are +11.17% and +11.26% respectively. Across the full 5-year window we track, FXAIX has the edge at +11.26% annualized vs +11.17%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FXAIX has been the more volatile fund, with annualized monthly volatility of 15.7% compared with 15.6% for FNILX. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -26.6% for FNILX and -25.4% for FXAIX. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.97. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
FNILX charges 0.00% per year while FXAIX charges 0.02%. On a $10,000 position that is $0 vs $2 annually, a gap of $2 per year that compounds over a long holding period. On income, FNILX currently yields 0.92% against 1.04% for FXAIX.
Holdings Overlap
FNILX and FXAIX share 444 holdings out of 572 unique holdings combined, representing a 89.3% weight overlap.
High overlap means holding both may not provide much additional diversification.
Top Shared Holdings
| Stock | Weight in FNILX | Weight in FXAIX | Difference |
|---|---|---|---|
| NVDA | 7.53% | 7.31% | 0.22% |
| AAPL | 6.21% | 6.63% | 0.42% |
| MSFT | 5.18% | 4.96% | 0.22% |
| AMZN | Pro | Pro | Pro |
| GOOG | Pro | Pro | Pro |
| AVGO | Pro | Pro | Pro |
| META | Pro | Pro | Pro |
| TSLA | Pro | Pro | Pro |
| BRK.B | Pro | Pro | Pro |
| FTBFX | Pro | Pro | Pro |
See all 10 holdings FNILX shares with FXAIX Exact weights in each fund and the difference, for every overlapping position. Get FundXLS Pro: $29/moFirst 500 subscribers, then $49/mo. Cancel anytime. | |||
Frequently Asked Questions
Which is cheaper, FNILX or FXAIX?
FNILX has an expense ratio of 0.00% while FXAIX charges 0.02%. FNILX is the cheaper option. On a $10,000 investment, that is $2 per year of difference.
Which performed better, FNILX or FXAIX?
Over the past year FNILX returned +17.75% vs +18.19% for FXAIX, so FXAIX leads on 1-year performance. Over the longest common window we track (5 years), FNILX annualized +11.17% vs +11.26% for FXAIX. Past performance does not guarantee future results.
Which is riskier, FNILX or FXAIX?
FXAIX has been the more volatile fund at 15.7% annualized versus 15.6% for FNILX. Worst drawdown: FNILX -26.6% vs FXAIX -25.4%.
Should I hold both FNILX and FXAIX?
FNILX and FXAIX have a monthly-return correlation of 0.97, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between FNILX and FXAIX?
FNILX and FXAIX share 444 common holdings with a 89.3% weight overlap. Combined, they hold 572 unique securities.
Which pays a higher dividend, FNILX or FXAIX?
FNILX yields 0.92% while FXAIX yields 1.04%, so FXAIX currently pays the higher dividend yield.
Popular Fund Comparisons
Get Full ETF Analytics
Access complete holdings data, overlap analysis, screener tools, and more with FundXLS.