BRIAX vs. FBALX

Last updated Jun 5, 2026

BRIAX (BlackRock Retirement Income 2030 Fund) and FBALX (Fidelity Balanced Fund) are both mutual funds - BRIAX is a Target Retirement Date fund managed by BlackRock, while FBALX is a Diversified Portfolio fund actively managed by Fidelity. Over the past 5 years, BRIAX returned 3.04%/yr vs 9.24%/yr for FBALX. A 0.79 correlation means they provide meaningful diversification when combined. BRIAX charges 0.50%/yr vs 0.46%/yr for FBALX.

Performance

BRIAX vs. FBALX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock Retirement Income 2030 Fund (BRIAX) 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, BRIAX achieves a 3.35% return, which is significantly lower than FBALX's 9.83% return.

BRIAX

• 1D: -0.37%
• 1M: 0.72%
• YTD: 3.35%
• 6M: 3.87%
• 1Y: 9.99%
• 3Y*: 9.13%
• 5Y*: 3.04%
• 10Y*: —

FBALX

• 1D: -0.42%
• 1M: 2.93%
• YTD: 9.83%
• 6M: 10.10%
• 1Y: 24.05%
• 3Y*: 16.63%
• 5Y*: 9.24%
• 10Y*: 11.72%

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

BRIAX vs. FBALX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
BRIAX BlackRock Retirement Income 2030 Fund	3.35%	11.31%	6.84%	8.12%	-13.54%	5.52%	6.89%
FBALX Fidelity Balanced Fund	9.83%	15.11%	16.09%	20.31%	-18.29%	18.27%	14.59%

Correlation

The correlation between BRIAX and FBALX is 0.73, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.73
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.79
Correlation (All Time) Calculated using the full available price history since Aug 3, 2020	0.79

The correlation between BRIAX and FBALX has been stable across timeframes, ranging from 0.73 to 0.79 - a consistent structural relationship.

Return for Risk

BRIAX vs. FBALX — Risk / Return Rank

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

BRIAX

BRIAX Risk / Return Rank: 41
BRIAX Sharpe Ratio Rank: 41
BRIAX Sortino Ratio Rank: 47
BRIAX Omega Ratio Rank: 47
BRIAX Calmar Ratio Rank: 30
BRIAX Martin Ratio Rank: 41

FBALX

FBALX Risk / Return Rank: 85
FBALX Sharpe Ratio Rank: 87
FBALX Sortino Ratio Rank: 83
FBALX Omega Ratio Rank: 81
FBALX Calmar Ratio Rank: 82
FBALX Martin Ratio Rank: 90

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.

BRIAX vs. FBALX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock Retirement Income 2030 Fund (BRIAX) 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.

	BRIAX	FBALX	Difference
Sharpe ratio: Return per unit of total volatility	1.82	2.85	-1.03
Sortino ratio: Return per unit of downside risk	2.82	4.03	-1.20
Omega ratio: Gain probability vs. loss probability	1.36	1.54	-0.18
Calmar ratio: Return relative to maximum drawdown	1.99	3.79	-1.80
Martin ratio: Return relative to average drawdown	8.63	18.16	-9.53
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BRIAX vs. FBALX - Sharpe Ratio Comparison

The current BRIAX Sharpe Ratio is 1.82, which is lower than the FBALX Sharpe Ratio of 2.85. The chart below compares the historical Sharpe Ratios of BRIAX 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.

Sharpe Ratios by Period

	BRIAX	FBALX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.82	2.85	-1.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.47	0.76	-0.29
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.92	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.73	0.81	-0.08

Drawdowns

BRIAX vs. FBALX - Drawdown Comparison

The maximum BRIAX drawdown since its inception was -18.28%, smaller than the maximum FBALX drawdown of -43.57%. Use the drawdown chart below to compare losses from any high point for BRIAX and FBALX.

Drawdown Indicators

	BRIAX	FBALX	Difference
Max Drawdown Largest peak-to-trough decline	-18.28%	-43.57%	+25.29%
Max Drawdown (1Y) Largest decline over 1 year	-5.14%	-6.47%	+1.33%
Max Drawdown (3Y) Largest decline over 3 years	-6.05%	-12.88%	+6.83%
Max Drawdown (5Y) Largest decline over 5 years	-18.28%	-22.89%	+4.61%
Max Drawdown (10Y) Largest decline over 10 years	—	-26.68%	—
Current Drawdown Current decline from peak	-0.37%	-0.42%	+0.05%
Average Drawdown Average peak-to-trough decline	-4.96%	-4.37%	-0.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.18%	1.35%	-0.17%

Volatility

BRIAX vs. FBALX - Volatility Comparison

The current volatility for BlackRock Retirement Income 2030 Fund (BRIAX) is 1.74%, while Fidelity Balanced Fund (FBALX) has a volatility of 2.62%. This indicates that BRIAX 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

	BRIAX	FBALX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.74%	2.62%	-0.88%
Volatility (6M) Calculated over the trailing 6-month period	4.56%	6.80%	-2.24%
Volatility (1Y) Calculated over the trailing 1-year period	5.63%	8.60%	-2.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.44%	12.18%	-5.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.23%	12.78%	-6.55%

BRIAX vs. FBALX - Expense Ratio Comparison

BRIAX has a 0.50% expense ratio, which is higher than FBALX's 0.46% expense ratio.

Dividends

BRIAX vs. FBALX - Dividend Comparison

BRIAX's dividend yield for the trailing twelve months is around 8.42%, more than FBALX's 5.16% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BRIAX BlackRock Retirement Income 2030 Fund	8.42%	8.38%	8.64%	5.18%	6.14%	5.94%	2.96%	0.00%	0.00%	0.00%	0.00%	0.00%
FBALX Fidelity Balanced Fund	5.16%	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 BRIAX and FBALX in my portfolio?

BRIAX and FBALX have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BRIAX or FBALX?

FBALX has higher volatility (2.62%) compared to BRIAX (1.74%). In terms of maximum drawdown, BRIAX dropped -18.28% vs FBALX's -43.57%.

Which has better risk-adjusted returns?

FBALX currently has the higher Sharpe Ratio (2.85 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.