We're raising the bar on value

Fidelity stock and bond index mutual funds and sector ETFs have lower expenses than all comparable funds at Vanguard.1


Proving what it means to put value first

At Fidelity, we're committed to giving you value you can't find anywhere else. That's why we're introducing zero expense ratio index mutual funds.2 We also offer zero minimum investment Fidelity Mutual Funds,3 no minimums to open an account,4 no account fees for retail brokerage accounts, and 24/7 live customer service — now that's value.

NEW Fidelity® ZERO Large Cap Index Fund (FNILX)

  • Seeks to provide investment results that correspond to the total return of a broad range of large-capitalization U.S. companies.
  • There is a 0% expense ratio and no minimums to invest in FNILX.

NEW Fidelity® ZERO Extended Market Index Fund (FZIPX)

  • Seeks to provide investment results that correspond to the total return of a broad range of mid- to small-capitalization U.S. companies.
  • There is a 0% expense ratio and no minimums to invest in FZIPX.

NEW Fidelity® ZERO Total Market Index Fund (FZROX)

  • Seeks to provide investment results that correspond to the total return of a broad range of publicly traded companies in the US.
  • There is a 0% expense ratio and no minimums to invest in FZROX.

NEW Fidelity® ZERO International Index Fund (FZILX)

  • Seeks to provide investment results that correspond to the total return of foreign developed and emerging stocks.
  • There is a 0% expense ratio and no minimums to invest in FZILX.

Read about our new simplified index fund structure (PDF)

See our Fidelity index investing methodology (PDF)

There's no match for Fidelity in index investing – not even Vanguard.


Fidelity Index Funds Vanguard Index Funds
$0K Minimum Investment Admiral Share Class5 - $3K Minimum Investment
Fund Name Comparison Based on Expense Ratio6  Fund Name
Fidelity® 500 Index Fund (FXAIX) .015% .040% Vanguard 500 Index Admiral (VFIAX)
Fidelity® Total Market Index Fund (FSKAX) .015% .040% Vanguard Total Stock Mkt Index Admiral (VTSAX)
Fidelity® Extended Market Index Fund (FSMAX) .045% .080% Vanguard Extended Market Index Admiral (VEXAX)
Fidelity® Large Cap Growth Index Fund (FSPGX) .035% .050% Vanguard Growth Index Admiral (VIGAX)
Fidelity® Large Cap Value Index Fund (FLCOX) .035% .050% Vanguard Value Index Admiral (VVIAX)
Fidelity® Mid Cap Index Fund (FSMDX) .025% .050% Vanguard Mid Cap Index Admiral (VIMAX)
Fidelity® Small Cap Index Fund (FSSNX) .025% .050% Vanguard Small Cap Index Admiral (VSMAX)
Fidelity® International Index Fund (FSPSX) .045% .070% Vanguard Developed Markets Index Admiral (VTMGX)
Fidelity® Global ex US Index Fund (FSGGX) .060% .110% Vanguard FTSE All-Wld ex-US Index Admiral (VFWAX)
Fidelity® Total Intl Index Fund (FTIHX) .060% .110% Vanguard Total Intl Stock Index Admiral (VTIAX)
Fidelity® Emerging Markets Index Fund (FPADX) .080% .140% Vanguard Emerging Mkts Stock Index Admiral (VEMAX)
Fidelity® Real Estate Index Fund (FSRNX) .070% .120% Vanguard REIT Index Admiral (VGSLX)
Fidelity® US Bond Index Fund (FXNAX) .025% .050% Vanguard Total Bond Market Index Admiral (VBTLX)
Fidelity® Short-Term Treasury Bd Index Fund (FUMBX) .030% .070% Vanguard Short-Term Treasury Index Admiral (VSBSX)
Fidelity® Intermediate Trs Bd Index Fund (FUAMX) .030% .070% Vanguard Intermediate-Term Treasury Index Admiral (VSIGX)
Fidelity® Long-Term Treasury Bd Index Fund (FNBGX) .030% .070% Vanguard Long-Term Treasury Index Admiral (VLGSX)
Fidelity® Short-Term Bond Index Fund (FNSOX) .030% .070% Vanguard Short-Term Bond Index Fund (VBIRX)
Fidelity® U.S. Sustainability Index Fund (FITLX) .11% .180% Vanguard FTSE Social Index Fund (VFTSX)
Expense ratio information as of 12/18/18.

Vanguard offers other share classes of these funds with different investment minimums and expense ratios.

Fidelity Sector ETF Funds

Sector ETFs invest in stocks of companies in particular segments of the economy, allowing investors to target their exposure. You'll find lower expense ratios than all comparable Vanguard ETFs, starting at .084%.


See how they compare

More about index investing

  • What is index investing?

    Index products, such as an index fund or ETF, do not enlist a fund manager to actively select investments; instead, the vehicle buys a broad representation (or all) of the securities in an index.

    An index fund is a mutual fund whose portfolio aims to match the risk and return of a market index, such as the S&P 500, and an ETF tracks an index and trades on the stock market like a security.

    The goal is not to out-perform the index, but to mirror its activity.

  • Why invest in index funds and ETFs?

    For the investor, index funds and ETFs offer a number of attractive features.

    • They generally have lower management and transaction costs than actively managed funds.
    • They typically do not have sales charges (loads) that many mutual funds have.
    • They offer broad diversification of investments within their given indexes, which helps to mitigate risk.
    • They have lower portfolio turnover than actively managed funds.

    Fidelity has been managing index funds for almost 30 years, and we currently offer 23 Fidelity equity, fixed income, and hybrid index mutual funds; 13 Fidelity Freedom® Index Funds; and 21 Fidelity passive ETFs.

    With highly competitive expenses, our product offering makes index investing even more compelling.

Next steps

Find mutual funds

Search and compare thousands of other index funds.

Index funds and ETFs: Shop smart

Learn more about 5 key costs when researching passively managed funds.

Expense ratios

Read more about expense ratios and how they can impact your financial decisions.

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