FNILX vs IVV
FNILX vs IVV
Fidelity ZERO Large Cap Index Fund vs iShares Core S&P 500 ETF
Quick Verdict
FNILX has a lower expense ratio. IVV delivered stronger 1-year returns. FNILX offers more diversification with 511 holdings.
Side-by-Side Comparison
| Metric | FNILX | IVV | Winner |
|---|---|---|---|
| Expense Ratio | 0.00% | 0.03% | |
| AUM | - | $865.2B | |
| Dividend Yield | 0.92% | 1.09% | |
| Holdings | 512 | 508 | |
| YTD Return | +11.25% | +13.52% | |
| 1Y Return | +19.72% | +23.63% | |
| 3Y Return (annualized) | +19.71% | +21.26% | |
| 5Y Return (annualized) | +11.35% | +13.52% | |
| Volatility (annualized) | 15.4% | 15.1% | |
| Max Drawdown | -26.6% | -56.5% | |
| Fund Family | Fidelity Investments (US) | iShares by BlackRock (US) | |
| Category | Equity | Equity | |
| Inception | Sep 13, 2018 | May 15, 2000 |
FNILX vs IVV Performance
Fidelity ZERO Large Cap Index Fund (FNILX) is a mutual fund from Fidelity Investments (US) and iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US). Over the past year FNILX returned +19.72% while IVV returned +23.63%. Year to date, FNILX is up 11.25% versus a gain of 13.52% for IVV.
Over three years, FNILX compounded at +19.71% per year against +21.26% for IVV; over five years the annualized figures are +11.35% and +13.52% respectively. Across the full 5-year window we track, FNILX has the edge at +11.35% annualized vs +7.04%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FNILX has been the more volatile fund, with annualized monthly volatility of 15.4% compared with 15.1% for IVV. 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 -56.5% for IVV. 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 0.95. 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 IVV charges 0.03%. On a $10,000 position that is $0 vs $3 annually, a gap of $3 per year that compounds over a long holding period. On income, FNILX currently yields 0.92% against 1.09% for IVV.
Holdings Overlap
FNILX and IVV share 438 holdings out of 578 unique holdings combined, representing a 87.8% weight overlap.
High overlap means holding both may not provide much additional diversification.
Top Shared Holdings
| Stock | Weight in FNILX | Weight in IVV | Difference |
|---|---|---|---|
| NVDA | 7.53% | 7.76% | 0.23% |
| AAPL | 6.21% | 7.44% | 1.23% |
| MSFT | 5.18% | 4.57% | 0.61% |
| AMZN | Pro | Pro | Pro |
| GOOGL | Pro | Pro | Pro |
| AVGO | Pro | Pro | Pro |
| GOOG | Pro | Pro | Pro |
| META | Pro | Pro | Pro |
| TSLA | Pro | Pro | Pro |
| BRK.B | Pro | Pro | Pro |
See all 10 holdings FNILX shares with IVV 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 IVV?
FNILX has an expense ratio of 0.00% while IVV charges 0.03%. FNILX is the cheaper option. On a $10,000 investment, that is $3 per year of difference.
Which performed better, FNILX or IVV?
Over the past year FNILX returned +19.72% vs +23.63% for IVV, so IVV leads on 1-year performance. Over the longest common window we track (5 years), FNILX annualized +11.35% vs +7.04% for IVV. Past performance does not guarantee future results.
Which is riskier, FNILX or IVV?
FNILX has been the more volatile fund at 15.4% annualized versus 15.1% for IVV. Worst drawdown: FNILX -26.6% vs IVV -56.5%.
Should I hold both FNILX and IVV?
FNILX and IVV have a monthly-return correlation of 0.95, 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 IVV?
FNILX and IVV share 438 common holdings with a 87.8% weight overlap. Combined, they hold 578 unique securities.
Which pays a higher dividend, FNILX or IVV?
FNILX yields 0.92% while IVV yields 1.09%, so IVV currently pays the higher dividend yield.
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