Fidelity ZERO International Index Fund (FZILX) is a no-expense-ratio mutual fund that seeks to provide investment results corresponding to the total return of foreign developed and emerging stock markets prior to fees and expenses. The fund, managed by Fidelity Investments, normally invests at least 80% of its assets in securities included in the Fidelity Global ex U.S. Index, a float-adjusted market capitalization-weighted index reflecting the performance of large- and mid-cap stocks from markets outside the United States, including depositary receipts representing such securities; it maintains a portfolio of approximately 2,181 holdings with heavy allocations to financial services, industrials, technology, and consumer sectors, as well as key regions such as the Eurozone (20.27%), Japan (16%), and broader Asia (11.96%), with top holdings including Taiwan Semiconductor Manufacturing Co Ltd, Tencent Holdings Ltd, and ASML Holding NV. Launched on August 2, 2018, and domiciled in the United States with assets under management exceeding $7.7 billion as of late 2025, the fund targets cost-conscious, long-term investors seeking broad international equity diversification through a blend style in the Foreign Large Blend category, available to U.S. investors with no minimum initial investment beyond $0 for certain accounts and low portfolio turnover of 5%. In recent years, FZILX has benefited from Fidelity's expansion of its ZERO fund suite, which doubled in size in September 2019 with the launch of companion domestic funds Fidelity ZERO Large Cap Index Fund (FNILX) and Fidelity ZERO Extended Market Index Fund (FZIPX), enhancing the lineup's appeal for zero-fee indexing strategies amid ongoing fee compression in the industry. The fund has sustained its 0.00% expense ratio with no waivers noted in recent disclosures, posted strong performance including a five-year average annual return of 11.08% and year-to-date gains near 30% as of late 2025, and experienced steady asset growth without major acquisitions, partnerships, or structural changes reported in the last 1-2 years.