BALFX vs. FBALX

Last updated Aug 1, 2026

BALFX (American Funds American Balanced Fund Class F-1) and FBALX (Fidelity Balanced Fund) are both Diversified Portfolio funds. Both are actively managed. Over the past 10 years, BALFX returned 9.67%/yr vs 11.36%/yr for FBALX. Their correlation of 0.95 means they have usually moved in the same direction. BALFX charges 0.61%/yr vs 0.46%/yr for FBALX.

Performance

BALFX vs. FBALX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Funds American Balanced Fund Class F-1 (BALFX) and Fidelity Balanced Fund (FBALX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BALFX achieves a 8.18% return, which is significantly lower than FBALX's 8.97% return. Over the past 10 years, BALFX has underperformed FBALX with an annualized return of 9.67%, while FBALX has yielded a comparatively higher 11.36% annualized return.

BALFX

• 1D: 1.08%
• 1M: -0.98%
• 6M: 5.43%
• YTD: 8.18%
• 1Y: 18.29%
• 3Y*: 15.33%
• 5Y*: 8.97%
• 10Y*: 9.67%
• ALL TIME*: 7.86%

FBALX

• 1D: 1.16%
• 1M: -0.98%
• 6M: 7.04%
• YTD: 8.97%
• 1Y: 18.20%
• 3Y*: 14.64%
• 5Y*: 8.55%
• 10Y*: 11.36%
• ALL TIME*: 9.08%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BALFX American Funds American Balanced Fund Class F-1	$0.00	$0.00	$0.00
FBALX Fidelity Balanced Fund	$0.00	$0.00	$0.00

BALFX vs. FBALX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BALFX American Funds American Balanced Fund Class F-1	8.18%	18.40%	14.91%	13.62%	-12.19%	15.69%	10.81%	18.50%	-3.54%	14.63%
FBALX Fidelity Balanced Fund	8.97%	15.11%	16.09%	20.31%	-18.29%	18.27%	22.45%	24.40%	-3.98%	16.52%

Correlation

The correlation between BALFX and FBALX is 0.95, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.95
Correlation (3Y) Balances recent behavior with more history.	0.95
Correlation (5Y) Shows whether the relationship held over a longer period.	0.95
Correlation (10Y) Provides a long-term view across more market conditions.	0.95
Correlation (All Time) Calculated using the full available price history since Mar 15, 2001	0.95

The correlation between BALFX and FBALX has been stable across timeframes, ranging from 0.95 to 0.95 - a consistent structural relationship.

Return for Risk

BALFX vs. FBALX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

BALFX

BALFX Risk / Return Rank: 79
BALFX Sharpe Ratio Rank: 79
BALFX Sortino Ratio Rank: 77
BALFX Omega Ratio Rank: 77
BALFX Calmar Ratio Rank: 77
BALFX Martin Ratio Rank: 85

FBALX

FBALX Risk / Return Rank: 81
FBALX Sharpe Ratio Rank: 79
FBALX Sortino Ratio Rank: 77
FBALX Omega Ratio Rank: 77
FBALX Calmar Ratio Rank: 82
FBALX Martin Ratio Rank: 90

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

BALFX vs. FBALX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Funds American Balanced Fund Class F-1 (BALFX) and Fidelity Balanced Fund (FBALX). 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.

	BALFX	FBALX	Difference
Sharpe ratio: Return per unit of total volatility	1.82	1.82	0.00
Sortino ratio: Return per unit of downside risk	2.57	2.57	0.00
Omega ratio: Gain probability vs. loss probability	1.33	1.34	0.00
Calmar ratio: Return relative to maximum drawdown	2.44	2.67	-0.23
Martin ratio: Return relative to average drawdown	10.42	12.02	-1.60

BALFX vs. FBALX - Sharpe Ratio Comparison

The current BALFX Sharpe Ratio is 1.82, which is comparable to the FBALX Sharpe Ratio of 1.82. The chart below compares the historical Sharpe Ratios of BALFX and FBALX, 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

BALFX vs. FBALX - Drawdown Comparison

The maximum BALFX drawdown since its inception was -40.20%, smaller than the maximum FBALX drawdown of -43.57%. Use the drawdown chart below to compare losses from any high point for BALFX and FBALX.

Drawdown Indicators

	BALFX	FBALX	Difference
Max Drawdown Largest peak-to-trough decline	-40.20%	-43.57%	+3.37%
Max Drawdown (1Y) Largest decline over 1 year	-7.03%	-6.47%	-0.56%
Max Drawdown (3Y) Largest decline over 3 years	-10.67%	-12.88%	+2.21%
Max Drawdown (5Y) Largest decline over 5 years	-18.81%	-22.89%	+4.08%
Max Drawdown (10Y) Largest decline over 10 years	-22.34%	-26.68%	+4.34%
Current Drawdown Current decline from peak	-1.71%	-1.73%	+0.02%
Average Drawdown Average peak-to-trough decline	-4.14%	-4.36%	+0.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.65%	1.44%	+0.21%

Volatility

BALFX vs. FBALX - Volatility Comparison

The current volatility for American Funds American Balanced Fund Class F-1 (BALFX) is 2.33%, while Fidelity Balanced Fund (FBALX) has a volatility of 2.56%. This indicates that BALFX experiences smaller price fluctuations and is considered to be less risky than FBALX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BALFX	FBALX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.33%	2.56%	-0.23%
Volatility (6M) Calculated over the trailing 6-month period	7.38%	7.72%	-0.34%
Volatility (1Y) Calculated over the trailing 1-year period	9.42%	9.49%	-0.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.59%	12.27%	-1.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.69%	12.79%	-2.10%

BALFX vs. FBALX - Expense Ratio Comparison

BALFX has a 0.61% expense ratio, which is higher than FBALX's 0.46% expense ratio.

Dividends

BALFX vs. FBALX - Dividend Comparison

BALFX's dividend yield for the trailing twelve months is around 7.15%, more than FBALX's 5.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BALFX American Funds American Balanced Fund Class F-1	7.15%	8.22%	7.14%	2.02%	2.24%	4.24%	4.31%	3.44%	5.30%	4.66%	4.18%	5.54%
FBALX Fidelity Balanced Fund	5.22%	5.69%	5.67%	2.28%	8.06%	9.66%	5.90%	4.24%	10.99%	7.90%	3.07%	7.70%

Frequently Asked Questions

Can I hold both BALFX and FBALX in my portfolio?

With a correlation of 0.95, BALFX and FBALX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, BALFX or FBALX?

FBALX has higher volatility (2.56%) compared to BALFX (2.33%). In terms of maximum drawdown, BALFX dropped -40.20% vs FBALX's -43.57%.

Which has better risk-adjusted returns?

BALFX currently has the higher Sharpe Ratio (1.82 vs 1.82), 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.