Fidelity made headlines when it launched the world's first zero-expense-ratio index funds. Today it offers a range of funds, including ETFs and index mutual funds, that compete with Vanguard and iShares on both cost and performance.
Whether you invest through Fidelity directly or through another brokerage, these are the top Fidelity funds worth knowing in 2026.
Investing involves risk, including possible loss of principal. This article is for educational purposes only and is not financial advice.
Our Top Picks
1. FZROX - Fidelity ZERO Total Market Index Fund
FZROX has a 0.00% expense ratio, literally free to hold. It tracks the Fidelity U.S. Total Investable Market Index, covering large, mid, and small-cap U.S. stocks in a single fund.
- Expense ratio: 0.00%
- Type: Zero-fee index mutual fund
- Best for: Long-term, buy-and-hold investors who want total U.S. stock market exposure at no cost
- Note: Only available directly at Fidelity; not accessible at other brokerages
For investors choosing between Fidelity's zero-cost fund and Vanguard's comparable offering, the FZROX vs VTI comparison breaks down the key differences in index methodology and availability.
For investors who already use Fidelity as their primary brokerage, FZROX is hard to beat as a core holding.
2. FXAIX - Fidelity 500 Index Fund
FXAIX tracks the S&P 500 and has one of the lowest expense ratios of any S&P 500 fund on the market. It is also useful for understanding the FSKAX vs FXAIX choice between total market and S&P 500 exposure within the Fidelity lineup.
- Expense ratio: 0.015%
- Type: Index mutual fund (not technically an ETF, but functions similarly for long-term investors)
- No minimum investment
- Best for: S&P 500 exposure with near-zero cost
FXAIX prices once per day at market close, unlike an ETF that trades in real time. For long-term investors, this distinction rarely matters.
3. FNILX - Fidelity ZERO Large Cap Index Fund
FNILX is another zero-expense fund from Fidelity. It tracks large-cap U.S. companies using Fidelity's own index (not the S&P 500 directly), but the performance has been very similar.
- Expense ratio: 0.00%
- Best for: Investors who want large-cap U.S. exposure for free
- Note: Like FZROX, only available at Fidelity
4. FXNAX - Fidelity U.S. Bond Index Fund
For investors who want bond exposure in their portfolio, FXNAX tracks the Bloomberg U.S. Aggregate Bond Index. Bonds tend to move differently than stocks, which can reduce overall portfolio volatility.
- Expense ratio: 0.025%
- Best for: Adding fixed income to a diversified portfolio
5. FBND - Fidelity Total Bond ETF
FBND is an actively managed bond ETF from Fidelity. Unlike FXNAX, it does not simply track an index. Instead, Fidelity's managers choose bonds across investment-grade corporate, government, and mortgage-backed sectors.
- Expense ratio: 0.36%
- Type: Actively managed ETF
- Best for: Investors who want active bond management in a low-cost ETF format
- Available: Can be purchased at Fidelity and at other brokerages
6. FTEC - Fidelity MSCI Information Technology Index ETF
FTEC tracks the MSCI USA IMI Information Technology Index, giving you concentrated exposure to tech giants like Apple, Microsoft, Nvidia, and Meta. For a broader look at tech funds, the guide to best technology ETF picks covers several alternatives worth comparing.
- Expense ratio: 0.084%
- Best for: Investors who want tech sector exposure at a low cost
- Risk note: Tech sector ETFs are more volatile than broad market funds
You can buy FTEC and FBND commission-free on Robinhood, even if you do not have a Fidelity account. The Fidelity zero-expense funds (FZROX, FNILX) are exclusive to Fidelity.
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How to Choose Among Fidelity Funds
Your selection should reflect your goals and where you hold your account.
If you invest at Fidelity: The zero-expense funds (FZROX, FNILX) are compelling. A combination of FZROX for stocks and FXNAX for bonds covers most of a classic portfolio at essentially zero cost. If you prefer going through a dedicated platform, a Fidelity brokerage account gives you access to the full fund lineup and research tools.
If you invest elsewhere: Focus on Fidelity's ETFs that trade on exchanges, like FTEC and FBND. FXAIX is technically a mutual fund but available at many brokerages.
For a simple core portfolio: FXAIX or FZROX for equity + FXNAX for bonds is a two-fund approach that many long-term investors find perfectly adequate.
The "Zero" Funds: What's the Catch?
Fidelity's zero-expense funds are genuinely free to hold. Fidelity earns revenue through other means, such as securities lending within the fund. The funds also use Fidelity's own proprietary indexes, which means they track slightly different universes than standard S&P 500 or total market indexes.
In practice, performance has been extremely close to comparable Vanguard and iShares products. For most investors, the difference is negligible.
Frequently Asked Questions
Can I buy Fidelity ETFs on Robinhood?
Yes, for exchange-traded ETFs. FTEC and FBND can be purchased on Robinhood and most other brokerages. However, Fidelity's zero-expense mutual funds (FZROX, FNILX, FXNAX, FXAIX) are only available through Fidelity accounts or brokerages that have agreements to carry them.
Is FXAIX the same as the S&P 500?
FXAIX tracks the S&P 500 Index, so its performance closely mirrors the index minus the tiny expense ratio. It is not the same as "the S&P 500," which is simply a list of 500 large U.S. companies, not a purchasable product. FXAIX is one of several funds that gives you that exposure. For an overview of the full field of competing funds, see the best S&P 500 ETF guide.
How does FZROX compare to VTI?
Both cover the broad U.S. stock market. FZROX (0.00% expense ratio) is cheaper, but it is only available at Fidelity and uses a proprietary index. VTI (0.03% expense ratio) from Vanguard is available everywhere and tracks the CRSP U.S. Total Market Index. Performance has been nearly identical over time.
Are Fidelity index funds good for a Roth IRA?
Yes, Fidelity index funds are a popular choice inside Roth IRA accounts. Since a Roth IRA lets growth compound tax-free, pairing it with low-cost index funds that historically grow over decades is a well-regarded long-term strategy. Learn more about what you could accumulate in the guide to how much a Roth IRA will grow in 20 years. Past performance does not guarantee future results.
