ATLAX vs. FXAIX

Last updated Jun 23, 2026

ATLAX (Atlas U.S. Tactical Income Fund) and FXAIX (Fidelity 500 Index Fund) are both mutual funds - ATLAX is a Diversified Portfolio fund managed by Voya, while FXAIX is a S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, ATLAX returned -0.19%/yr vs 15.58%/yr for FXAIX. A 0.58 correlation means they provide meaningful diversification when combined. ATLAX charges 1.18%/yr vs 0.02%/yr for FXAIX.

Performance

ATLAX vs. FXAIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Atlas U.S. Tactical Income Fund (ATLAX) and Fidelity 500 Index Fund (FXAIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ATLAX achieves a 0.42% return, which is significantly lower than FXAIX's 10.19% return. Over the past 10 years, ATLAX has underperformed FXAIX with an annualized return of -0.19%, while FXAIX has yielded a comparatively higher 15.58% annualized return.

ATLAX

• 1D: 0.00%
• 1M: 1.13%
• YTD: 0.42%
• 6M: 0.60%
• 1Y: 9.83%
• 3Y*: 8.17%
• 5Y*: -0.40%
• 10Y*: -0.19%

FXAIX

• 1D: 1.09%
• 1M: 0.47%
• YTD: 10.19%
• 6M: 9.68%
• 1Y: 27.18%
• 3Y*: 20.98%
• 5Y*: 14.10%
• 10Y*: 15.58%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ATLAX vs. FXAIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ATLAX Atlas U.S. Tactical Income Fund	0.42%	13.62%	4.51%	9.92%	-23.76%	-1.25%	1.46%	4.27%	-8.13%	2.39%
FXAIX Fidelity 500 Index Fund	10.19%	17.84%	25.01%	26.29%	-18.14%	28.71%	18.42%	31.48%	-4.43%	21.82%

Correlation

The correlation between ATLAX and FXAIX is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (3Y) Calculated over the trailing 3-year period	0.41
Correlation (5Y) Calculated over the trailing 5-year period	0.55
Correlation (10Y) Calculated over the trailing 10-year period	0.58
Correlation (All Time) Calculated using the full available price history since Oct 1, 2015	0.58

The correlation between ATLAX and FXAIX shifts across timeframes, from 0.41 (3 years) to 0.58 (all time), reflecting how their relationship changes across market environments.

Return for Risk

ATLAX vs. FXAIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ATLAX

ATLAX Risk / Return Rank: 39
ATLAX Sharpe Ratio Rank: 38
ATLAX Sortino Ratio Rank: 39
ATLAX Omega Ratio Rank: 39
ATLAX Calmar Ratio Rank: 36
ATLAX Martin Ratio Rank: 41

FXAIX

FXAIX Risk / Return Rank: 66
FXAIX Sharpe Ratio Rank: 64
FXAIX Sortino Ratio Rank: 59
FXAIX Omega Ratio Rank: 61
FXAIX Calmar Ratio Rank: 68
FXAIX Martin Ratio Rank: 79

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ATLAX vs. FXAIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Atlas U.S. Tactical Income Fund (ATLAX) and Fidelity 500 Index Fund (FXAIX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

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.

	ATLAX	FXAIX	Difference
Sharpe ratio: Return per unit of total volatility	1.67	2.17	-0.50
Sortino ratio: Return per unit of downside risk	2.44	2.93	-0.49
Omega ratio: Gain probability vs. loss probability	1.31	1.39	-0.08
Calmar ratio: Return relative to maximum drawdown	2.15	3.04	-0.89
Martin ratio: Return relative to average drawdown	8.35	13.75	-5.39

ATLAX vs. FXAIX - Sharpe Ratio Comparison

The current ATLAX Sharpe Ratio is 1.67, which is comparable to the FXAIX Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of ATLAX and FXAIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ATLAX vs. FXAIX - Drawdown Comparison

The maximum ATLAX drawdown since its inception was -39.28%, which is greater than FXAIX's maximum drawdown of -33.79%. Use the drawdown chart below to compare losses from any high point for ATLAX and FXAIX.

Drawdown Indicators

	ATLAX	FXAIX	Difference
Max Drawdown Largest peak-to-trough decline	-39.28%	-33.79%	-5.49%
Max Drawdown (1Y) Largest decline over 1 year	-4.66%	-8.89%	+4.23%
Max Drawdown (3Y) Largest decline over 3 years	-11.47%	-18.76%	+7.29%
Max Drawdown (5Y) Largest decline over 5 years	-31.49%	-24.50%	-6.99%
Max Drawdown (10Y) Largest decline over 10 years	-39.28%	-33.79%	-5.49%
Current Drawdown Current decline from peak	-14.13%	-1.36%	-12.77%
Average Drawdown Average peak-to-trough decline	-14.57%	-3.79%	-10.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.20%	1.96%	-0.76%

Volatility

ATLAX vs. FXAIX - Volatility Comparison

The current volatility for Atlas U.S. Tactical Income Fund (ATLAX) is 2.15%, while Fidelity 500 Index Fund (FXAIX) has a volatility of 4.77%. This indicates that ATLAX experiences smaller price fluctuations and is considered to be less risky than FXAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ATLAX	FXAIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.15%	4.77%	-2.62%
Volatility (6M) Calculated over the trailing 6-month period	4.76%	9.91%	-5.15%
Volatility (1Y) Calculated over the trailing 1-year period	5.99%	12.47%	-6.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.97%	17.01%	-8.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.46%	18.11%	-1.65%

ATLAX vs. FXAIX - Expense Ratio Comparison

ATLAX has a 1.18% expense ratio, which is higher than FXAIX's 0.02% expense ratio.

Dividends

ATLAX vs. FXAIX - Dividend Comparison

ATLAX's dividend yield for the trailing twelve months is around 4.97%, more than FXAIX's 1.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ATLAX Atlas U.S. Tactical Income Fund	4.97%	4.68%	5.15%	3.18%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FXAIX Fidelity 500 Index Fund	1.04%	1.11%	1.25%	1.45%	1.69%	1.22%	1.60%	2.06%	2.72%	1.97%	2.52%	2.83%

Frequently Asked Questions

Can I hold both ATLAX and FXAIX in my portfolio?

ATLAX and FXAIX have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ATLAX or FXAIX?

FXAIX has higher volatility (4.77%) compared to ATLAX (2.15%). In terms of maximum drawdown, ATLAX dropped -39.28% vs FXAIX's -33.79%.

Which has better risk-adjusted returns?

FXAIX currently has the higher Sharpe Ratio (2.17 vs 1.67), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.