- Issuer
- Fidelity
- Inception Date
- Jul 7, 2022
- Category
- Diversified Portfolio
- Index Tracked
- No Index (Active)
- Distribution Policy
- Distributing
- Asset Class
- Multi-Asset
Share Price Chart
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Performance
FAPSX Performance Chart
Fidelity Risk Parity Fund (FAPSX) is up 7.8% since the beginning of the year. FAPSX is currently trading at $11 per share.
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Returns By Period
Fidelity Risk Parity Fund (FAPSX) has returned 7.80% so far this year and 19.60% over the past 12 months.
Fidelity Risk Parity Fund
- 1D
- 0.97%
- 1M
- -0.09%
- 6M
- 2.85%
- YTD
- 7.80%
- 1Y
- 19.60%
- 3Y*
- 12.37%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 12.56%
Benchmark (S&P 500 Index)
- 1D
- 0.70%
- 1M
- 0.09%
- 6M
- 7.94%
- YTD
- 9.41%
- 1Y
- 20.07%
- 3Y*
- 17.84%
- 5Y*
- 11.25%
- 10Y*
- 13.26%
- ALL TIME*
- 8.09%
FAPSX Monthly Returns History
Based on dividend-adjusted daily data since Oct 6, 2022, FAPSX's average daily return is +0.05%, while the average monthly return is +1.03%. At this rate, an investment would double in approximately 5.6 years.
Historically, 63% of months were positive and 37% were negative. The best month was Nov 2022 with a return of +6.9%, while the worst month was Mar 2026 at -5.6%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 3 months.
On a daily basis, FAPSX closed higher 51% of trading days. The best single day was Apr 9, 2025 with a return of +5.0%, while the worst single day was Apr 4, 2025 at -3.7%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 4.81% | 3.21% | -5.58% | 6.00% | 1.65% | -1.63% | -0.44% | 7.80% | |||||
| 2025 | 2.81% | 1.22% | -0.22% | 0.00% | 1.94% | 3.31% | -0.19% | 3.70% | 3.56% | 1.54% | 1.16% | 0.57% | 21.09% |
| 2024 | -1.48% | 1.08% | 2.98% | -2.94% | 3.35% | 0.21% | 3.55% | 1.71% | 2.77% | -2.70% | 1.78% | -3.29% | 6.87% |
| 2023 | 6.41% | -4.67% | 2.09% | 0.22% | -2.86% | 2.83% | 2.86% | -2.99% | -4.30% | -2.07% | 6.35% | 5.19% | 8.45% |
| 2022 | -0.43% | 6.89% | -2.49% | 3.78% |
Benchmark Metrics
Fidelity Risk Parity Fund has an annualized alpha of 2.21%, beta of 0.54, and R2 of 0.57 versus S&P 500 Index. Calculated based on daily prices since October 06, 2022.
- This fund participated in 72.78% of S&P 500 Index downside but only 62.93% of its upside - more exposed to losses than it benefited from rallies.
- This fund generated an annualized alpha of 2.21% versus S&P 500 Index - delivering returns beyond what market exposure alone would predict.
- Beta of 0.54 indicates this fund moves significantly less than S&P 500 Index - a genuinely defensive profile with reduced participation in both market rallies and downturns.
- Alpha
- 2.21%
- Beta
- 0.54
- R²
- 0.57
- Upside Capture
- 62.93%
- Downside Capture
- 72.78%
Expense Ratio
FAPSX has an expense ratio of 0.73%, placing it in the medium range.
Return for Risk
Risk / Return Rank
FAPSX ranks 70 for risk / return — above 70% of mutual funds peers on PortfoliosLab. Its historical combined result is above most peers.
Risk / Return Metrics
The table below present risk-adjusted performance metrics for Fidelity Risk Parity Fund (FAPSX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| FAPSX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.29 | ||
| Sortino ratioReturn per unit of downside risk | +0.37 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.25 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.51 | 2.00 | +0.51 |
| Martin ratioReturn relative to average drawdown | 9.36 | 8.49 | +0.86 |
Dividends
Dividend History
Fidelity Risk Parity Fund provided a 7.08% dividend yield over the last twelve months, with an annual payout of $0.81 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Dividend | $0.81 | $0.59 | $0.47 | $0.36 | $0.63 |
Dividend yield | 7.08% | 5.31% | 4.91% | 3.84% | 6.93% |
Monthly Dividends
The table displays the monthly dividend distributions for Fidelity Risk Parity Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.41 | $0.00 | $0.00 | $0.00 | $0.00 | $0.41 | |||||
| 2025 | $0.00 | $0.00 | $0.19 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.40 | $0.59 |
| 2024 | $0.00 | $0.00 | $0.13 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.34 | $0.47 |
| 2023 | $0.00 | $0.00 | $0.28 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.08 | $0.36 |
| 2022 | $0.63 | $0.63 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Fidelity Risk Parity Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Fidelity Risk Parity Fund was 10.07%, occurring on Oct 25, 2023. Recovery took 35 trading sessions.
The current Fidelity Risk Parity Fund drawdown is 2.64%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-10.07%Oct 2023 | 8mo 25d | 1mo 20d | 10mo 15dFeb 2023 - Dec 2023 | — |
-9.68%Apr 2025 | 1mo 16d | 1mo 4d | 2mo 20dFeb 2025 - May 2025 | 2025 selloff2025 |
-7.66%Mar 2026 | 28d | 21d | 1mo 19dFeb 2026 - Apr 2026 | — |
-5.48%Dec 2024 | 2mo 21d | 1mo 26d | 4mo 17dSep 2024 - Feb 2025 | — |
-4.86%Dec 2022 | 23d | 15d | 1mo 8dDec 2022 - Jan 2023 | Bear market2022 |
Drawdown Indicators
| FAPSX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.07% | -56.78% | +46.71% |
Max Drawdown (1Y)Largest decline over 1 year | -7.66% | -9.10% | +1.44% |
Max Drawdown (3Y)Largest decline over 3 years | -9.68% | -18.90% | +9.22% |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -2.64% | -1.58% | -1.06% |
Average DrawdownAverage peak-to-trough decline | -2.19% | -10.70% | +8.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.05% | 2.14% | -0.09% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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