Fidelity 500 Index Fund
Figures last verified October 31, 2026
Tracks the S&P 500 index of the 500 largest US companies.
FXAIX is what happens when index investing becomes a commodity and price wars do their work: the S&P 500, tracked with surgical precision, for 0.015% — a dollar fifty per year on a $10,000 balance — with no minimum investment. There is no catch in the fund itself. Fidelity loses money or close to it here and earns it back when you eventually use their other services.
Against VFIAX and SWPPX, the comparison is genuinely boring, and boring is the correct conclusion: three funds tracking the same 500 stocks with fee differences measured in fractions of a basis point and tracking error smaller than the fee gap. Hold whichever lives where your accounts live. The interesting comparison is against active large-cap funds charging 0.50–1.00%, most of which have spent decades failing to beat this thing.
One genuine consideration: as a mutual fund, FXAIX distributes capital gains occasionally, making an ETF like VOO or IVV slightly more tax-efficient in taxable accounts. Inside a 401(k) or IRA — where most FXAIX money lives — that difference evaporates entirely.
The cheapest mainstream S&P 500 fund with no minimum.
FXAIX alternatives & comparable funds
If you’re weighing FXAIX against the field, these are the funds most investors line it up against — same job, different provider, slightly different terms.
| Fund | Family | Expense Ratio | Minimum |
|---|---|---|---|
| FXAIX — Fidelity 500 Index Fund | Fidelity | 0.015% | $0 |
| VFIAX — Vanguard 500 Index Fund Admiral Shares | Vanguard | 0.04% | $3,000 |
| SWPPX — Schwab S&P 500 Index Fund | Schwab | 0.02% | $0 |
| FNILX — Fidelity ZERO Large Cap Index Fund | Fidelity | 0.00% | $0 |
| FZROX — Fidelity ZERO Total Market Index Fund | Fidelity | 0.00% | $0 |
Head-to-head comparisons
Frequently asked questions
What is the expense ratio of FXAIX?
FXAIX (Fidelity 500 Index Fund) has an expense ratio of 0.015%, which works out to roughly $1.50 per year for every $10,000 invested. That is very low by industry standards, where the average fund still charges well over 0.40%.
What is the minimum investment for FXAIX?
FXAIX has no minimum initial investment — you can start with any amount.
What does FXAIX invest in?
Tracks the S&P 500 index of the 500 largest US companies. It falls in the s&p 500 / large blend category and is an index fund.
What are good alternatives to FXAIX?
The funds most often compared with FXAIX are VFIAX, SWPPX, FNILX — broadly similar exposure from different providers, with small differences in fee, minimum, and portability that usually come down to which brokerage holds your account.
Expense ratio and minimum for FXAIX drawn from Fidelity fund documentation; last verified October 31, 2026. Figures change — confirm against the official prospectus before investing. This review is editorial opinion, not investment advice.