FZROX vs VTI: Which Should You Buy?
About 94% the same holdings.
Over the period we can measure, VTI has returned about 0.7% a year more and overlap about 94% by weight. Pick FZROX for the tighter 2,642-holding portfolio; pick VTI to own 3,598 instead.
This is purely for informational purposes, not investment advice. Always consult a professional before making investment decisions.
FZROX wins if...
You want the tighter portfolio: 2,642 holdings rather than 3,598, tracking the Fidelity U.S. Total Investable Market Index.
VTI wins if...
You want maximum diversification: 3,598 holdings covering the broader market, tracking the CRSP US Total Market Index.
FZROX vs VTI, side by side
The numbers that actually differ are highlighted.
| Metric | FZROXFidelity ZERO Total Market Index Fund | VTIVanguard Morningstar Total Stock Market ETF |
|---|---|---|
| Index tracked | Fidelity U.S. Total Investable Market Index | CRSP US Total Market Index |
| Number of holdings | 2,642 | 3,598 |
| Expense ratio | — | 0.03% |
| Dividend yield | 0.91% | 1.04% |
| AUM | — | $2.30T |
| Top 10 concentration | 33.4% | 33.5% |
| 10-yr total return | 14.1% | 14.9% |
| 5-yr total return | 12.6% | 12.3% |
| Beta (vs S&P 500) | 1.02 | 1.02 |
| Max drawdown (10yr) | -35.0% | -35.0% |
| Market-cap coverage | Large + mid + small | Large + mid + small |
| Inception | 2018 | 2001 |
— means the figure is not reported for that fund.
FZROX holds 2,642 positions tracking the Fidelity U.S. Total Investable Market Index. VTI holds 3,598, a broader slice of the same market.
How much do FZROX and VTI overlap?
The single most decision-relevant fact, and the one most comparisons skip.
- Shared
- 94.0%
- VTI-only
- 6.0%
~94% identical by weight
2,126 weighted positions appear in both funds, and by weight about 94% of the two portfolios is the same exposure. Where a stock sits in both, the shared share is whichever weight is smaller. That is the part of a dollar that behaves identically in either fund.
The difference is VTI's remaining 956 positions, which FZROX does not hold at all. They are smaller by weight, which is why the two track each other closely and drift apart only at the margins.
Growth of $10,000: FZROX vs VTI
Growth of $10,000
8 years
Which should you choose?
- You want concentrated exposure: 2,642 holdings, not 3,598
- You want to track the Fidelity U.S. Total Investable Market Index
- You want the wider net: 3,598 holdings against 2,642
- You want to track the CRSP US Total Market Index
- You want the higher yield: 1.04% against 0.91%
Compare and track all ETFs in your sheet
Type =WISE("FZROX","dividend yield","ttm") or =WISEFUNDS("FZROX","expense ratio") in Excel or Google Sheets and the fund's data lands in your sheet, ready to be refreshed when you want.
Get The Add-in - FreeFZROX vs VTI frequently asked questions
VTI has the stronger record, by about 0.7% a year and they overlap roughly 94% by weight. Compare the fee and the holdings count below and pick the one that matches how broad you want the exposure to be.
FZROX holds 2,642 positions tracking the Fidelity U.S. Total Investable Market Index. VTI holds 3,598, a broader slice of the same market.
Yes, by about 94% by weight. 2,126 weighted positions appear in both funds. Because the largest positions dominate both portfolios, the two behave similarly day to day.
You can, but there is little reason to. At about 94% overlap, owning both mostly duplicates the same positions and adds little diversification.