FNILX vs FXAIX
Fidelity ZERO Large Cap Index Fund vs Fidelity 500 Index Fund
Buy FNILX if…
- •You really don't like even very tiny fees
Buy FXAIX if…
- •You're a traditionalist and like the S&P brand
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You Win Either Way
FNILX and FXAIX are both Fidelity S&P 500-style funds, but there's one key difference: FNILX has a 0.00% expense ratio. FXAIX charges 0.015%, which is still insanely cheap but technically not zero.
The catch with FNILX is that it doesn't officially track the S&P 500 (to avoid licensing fees), it tracks Fidelity's own "US Large Cap Index" instead. In practice, it holds basically the same ~500 large-cap stocks and performs nearly identically, but it's a clever way for Fidelity to save on licensing costs.
FXAIX is the more traditional choice — it actually tracks the S&P 500 and has a longer track record. It's also a mutual fund with a $0 minimum now, same as FNILX. Performance-wise, the difference between them is negligible — we're talking hundredths of a percent. If you're in a Fidelity account and want to save every possible basis point, FNILX is the move. If you want the "official" index and don't mind paying essentially nothing anyway, FXAIX works great.
Both are excellent.
