BATAX vs. FFANX

Last updated Jun 20, 2026

BATAX (BlackRock Allocation Target Shares Series A Portfolio) and FFANX (Fidelity Asset Manager 40% Fund) are both mutual funds - BATAX is a Short-Term Bond fund managed by BlackRock, while FFANX is a Diversified Portfolio fund managed by BlackRock. Over the past 10 years, BATAX returned 3.59%/yr vs 6.90%/yr for FFANX. At a 0.20 correlation, their price movements are largely independent. BATAX charges 0.00%/yr vs 0.52%/yr for FFANX.

Performance

BATAX vs. FFANX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock Allocation Target Shares Series A Portfolio (BATAX) and Fidelity Asset Manager 40% Fund (FFANX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BATAX achieves a 1.87% return, which is significantly lower than FFANX's 7.59% return. Over the past 10 years, BATAX has underperformed FFANX with an annualized return of 3.59%, while FFANX has yielded a comparatively higher 6.90% annualized return.

BATAX

• 1D: 0.00%
• 1M: 0.45%
• YTD: 1.87%
• 6M: 2.32%
• 1Y: 6.13%
• 3Y*: 6.70%
• 5Y*: 3.37%
• 10Y*: 3.59%

FFANX

• 1D: 0.80%
• 1M: 1.62%
• YTD: 7.59%
• 6M: 8.05%
• 1Y: 17.09%
• 3Y*: 10.99%
• 5Y*: 5.51%
• 10Y*: 6.90%

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

BATAX vs. FFANX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BATAX BlackRock Allocation Target Shares Series A Portfolio	1.87%	7.37%	7.34%	6.43%	-5.87%	1.72%	2.75%	6.76%	2.20%	5.21%
FFANX Fidelity Asset Manager 40% Fund	7.59%	13.16%	7.40%	11.52%	-13.62%	8.03%	13.10%	15.81%	-4.06%	11.25%

Correlation

The correlation between BATAX and FFANX is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.26
Correlation (3Y) Calculated over the trailing 3-year period	0.34
Correlation (5Y) Calculated over the trailing 5-year period	0.31
Correlation (10Y) Calculated over the trailing 10-year period	0.21
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016	0.20

The correlation between BATAX and FFANX shifts across timeframes, from 0.20 (all time) to 0.34 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

BATAX vs. FFANX — Risk / Return Rank

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

BATAX

BATAX Risk / Return Rank: 97
BATAX Sharpe Ratio Rank: 95
BATAX Sortino Ratio Rank: 99
BATAX Omega Ratio Rank: 98
BATAX Calmar Ratio Rank: 97
BATAX Martin Ratio Rank: 98

FFANX

FFANX Risk / Return Rank: 81
FFANX Sharpe Ratio Rank: 81
FFANX Sortino Ratio Rank: 81
FFANX Omega Ratio Rank: 80
FFANX Calmar Ratio Rank: 78
FFANX Martin Ratio Rank: 83

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.

BATAX vs. FFANX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock Allocation Target Shares Series A Portfolio (BATAX) and Fidelity Asset Manager 40% Fund (FFANX). 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.

	BATAX	FFANX	Difference
Sharpe ratio: Return per unit of total volatility	3.00	2.40	+0.60
Sortino ratio: Return per unit of downside risk	7.45	3.44	+4.01
Omega ratio: Gain probability vs. loss probability	2.12	1.47	+0.65
Calmar ratio: Return relative to maximum drawdown	6.57	3.27	+3.31
Martin ratio: Return relative to average drawdown	27.53	13.93	+13.59

BATAX vs. FFANX - Sharpe Ratio Comparison

The current BATAX Sharpe Ratio is 3.00, which is comparable to the FFANX Sharpe Ratio of 2.40. The chart below compares the historical Sharpe Ratios of BATAX and FFANX, 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

BATAX vs. FFANX - Drawdown Comparison

The maximum BATAX drawdown since its inception was -17.42%, smaller than the maximum FFANX drawdown of -31.69%. Use the drawdown chart below to compare losses from any high point for BATAX and FFANX.

Drawdown Indicators

	BATAX	FFANX	Difference
Max Drawdown Largest peak-to-trough decline	-17.42%	-31.69%	+14.27%
Max Drawdown (1Y) Largest decline over 1 year	-0.94%	-5.20%	+4.26%
Max Drawdown (3Y) Largest decline over 3 years	-1.15%	-7.55%	+6.40%
Max Drawdown (5Y) Largest decline over 5 years	-8.12%	-18.52%	+10.40%
Max Drawdown (10Y) Largest decline over 10 years	-17.42%	-18.52%	+1.10%
Current Drawdown Current decline from peak	-0.10%	0.00%	-0.10%
Average Drawdown Average peak-to-trough decline	-1.30%	-3.79%	+2.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.22%	1.22%	-1.00%

Volatility

BATAX vs. FFANX - Volatility Comparison

The current volatility for BlackRock Allocation Target Shares Series A Portfolio (BATAX) is 0.67%, while Fidelity Asset Manager 40% Fund (FFANX) has a volatility of 3.02%. This indicates that BATAX experiences smaller price fluctuations and is considered to be less risky than FFANX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BATAX	FFANX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.67%	3.02%	-2.35%
Volatility (6M) Calculated over the trailing 6-month period	1.45%	6.03%	-4.58%
Volatility (1Y) Calculated over the trailing 1-year period	2.05%	7.07%	-5.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.18%	7.94%	-5.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.07%	7.74%	-4.67%

BATAX vs. FFANX - Expense Ratio Comparison

BATAX has a 0.00% expense ratio, which is lower than FFANX's 0.52% expense ratio.

Dividends

BATAX vs. FFANX - Dividend Comparison

BATAX's dividend yield for the trailing twelve months is around 5.74%, more than FFANX's 3.65% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BATAX BlackRock Allocation Target Shares Series A Portfolio	5.74%	5.92%	5.45%	3.91%	3.14%	1.82%	3.22%	4.73%	5.36%	4.10%	0.40%	0.00%
FFANX Fidelity Asset Manager 40% Fund	3.65%	3.97%	2.81%	2.49%	5.75%	2.35%	2.36%	3.67%	4.56%	2.56%	1.43%	3.18%

Frequently Asked Questions

Can I hold both BATAX and FFANX in my portfolio?

BATAX and FFANX have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BATAX or FFANX?

FFANX has higher volatility (3.02%) compared to BATAX (0.67%). In terms of maximum drawdown, BATAX dropped -17.42% vs FFANX's -31.69%.

Which has better risk-adjusted returns?

BATAX currently has the higher Sharpe Ratio (3.00 vs 2.40), 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.