FAAIX vs. VOO

Last updated Aug 2, 2026

FAAIX (Fidelity Advisor Asset Manager 70% Fund Class I) and VOO (Vanguard S&P 500 ETF) are both funds - FAAIX is a Diversified Portfolio fund managed by BlackRock, while VOO is a S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, FAAIX returned 9.55%/yr vs 15.14%/yr for VOO. Their correlation of 0.94 means they have usually moved in the same direction. FAAIX charges 0.70%/yr vs 0.03%/yr for VOO.

Performance

FAAIX vs. VOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Asset Manager 70% Fund Class I (FAAIX) and Vanguard S&P 500 ETF (VOO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with FAAIX having a 10.24% return and VOO slightly lower at 10.16%. Over the past 10 years, FAAIX has underperformed VOO with an annualized return of 9.55%, while VOO has yielded a comparatively higher 15.14% annualized return.

FAAIX

• 1D: 1.72%
• 1M: -0.72%
• 6M: 7.00%
• YTD: 10.24%
• 1Y: 20.51%
• 3Y*: 14.23%
• 5Y*: 7.59%
• 10Y*: 9.55%
• ALL TIME*: 8.98%

VOO

• 1D: 0.71%
• 1M: 0.26%
• 6M: 8.58%
• YTD: 10.16%
• 1Y: 21.58%
• 3Y*: 19.42%
• 5Y*: 12.83%
• 10Y*: 15.14%
• ALL TIME*: 14.78%

*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)
FAAIX Fidelity Advisor Asset Manager 70% Fund Class I	$0.00	$0.00	$0.00
VOO Vanguard S&P 500 ETF	$3.82B	$3.78B	$5.44B

FAAIX vs. VOO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FAAIX Fidelity Advisor Asset Manager 70% Fund Class I	10.24%	18.16%	10.76%	16.41%	-16.83%	13.93%	17.18%	22.74%	-7.69%	17.33%
VOO Vanguard S&P 500 ETF	10.16%	17.82%	24.98%	26.32%	-18.17%	28.79%	18.32%	31.37%	-4.50%	21.77%

Correlation

The correlation between FAAIX and VOO is 0.94, 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.	0.94
Correlation (3Y) Balances recent behavior with more history.	0.92
Correlation (5Y) Shows whether the relationship held over a longer period.	0.93
Correlation (10Y) Provides a long-term view across more market conditions.	0.94
Correlation (All Time) Calculated using the full available price history since Sep 9, 2010	0.94

The correlation between FAAIX and VOO has been stable across timeframes, ranging from 0.92 to 0.94 - a consistent structural relationship.

Return for Risk

FAAIX vs. VOO — Risk / Return Rank

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

FAAIX

FAAIX Risk / Return Rank: 72
FAAIX Sharpe Ratio Rank: 69
FAAIX Sortino Ratio Rank: 67
FAAIX Omega Ratio Rank: 68
FAAIX Calmar Ratio Rank: 73
FAAIX Martin Ratio Rank: 81

VOO

VOO Risk / Return Rank: 68
VOO Sharpe Ratio Rank: 68
VOO Sortino Ratio Rank: 65
VOO Omega Ratio Rank: 66
VOO Calmar Ratio Rank: 64
VOO Martin Ratio Rank: 76

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.

FAAIX vs. VOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Asset Manager 70% Fund Class I (FAAIX) and Vanguard S&P 500 ETF (VOO). 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.

	FAAIX	VOO	Difference
Sharpe ratio: Return per unit of total volatility	1.66	1.53	+0.12
Sortino ratio: Return per unit of downside risk	2.34	2.13	+0.20
Omega ratio: Gain probability vs. loss probability	1.30	1.28	+0.03
Calmar ratio: Return relative to maximum drawdown	2.40	2.21	+0.19
Martin ratio: Return relative to average drawdown	10.07	9.44	+0.64

FAAIX vs. VOO - Sharpe Ratio Comparison

The current FAAIX Sharpe Ratio is 1.66, which is comparable to the VOO Sharpe Ratio of 1.53. The chart below compares the historical Sharpe Ratios of FAAIX and VOO, 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

FAAIX vs. VOO - Drawdown Comparison

The maximum FAAIX drawdown since its inception was -31.14%, smaller than the maximum VOO drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for FAAIX and VOO.

Drawdown Indicators

	FAAIX	VOO	Difference
Max Drawdown Largest peak-to-trough decline	-31.14%	-33.99%	+2.85%
Max Drawdown (1Y) Largest decline over 1 year	-7.98%	-8.90%	+0.92%
Max Drawdown (3Y) Largest decline over 3 years	-12.77%	-18.69%	+5.92%
Max Drawdown (5Y) Largest decline over 5 years	-23.58%	-24.52%	+0.94%
Max Drawdown (10Y) Largest decline over 10 years	-27.21%	-33.99%	+6.78%
Current Drawdown Current decline from peak	-1.60%	-1.38%	-0.22%
Average Drawdown Average peak-to-trough decline	-4.41%	-3.67%	-0.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.90%	2.08%	-0.18%

Volatility

FAAIX vs. VOO - Volatility Comparison

The current volatility for Fidelity Advisor Asset Manager 70% Fund Class I (FAAIX) is 3.31%, while Vanguard S&P 500 ETF (VOO) has a volatility of 3.54%. This indicates that FAAIX experiences smaller price fluctuations and is considered to be less risky than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FAAIX	VOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.31%	3.54%	-0.23%
Volatility (6M) Calculated over the trailing 6-month period	9.76%	10.10%	-0.34%
Volatility (1Y) Calculated over the trailing 1-year period	11.54%	12.82%	-1.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.46%	16.93%	-4.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.68%	18.01%	-5.33%

FAAIX vs. VOO - Expense Ratio Comparison

FAAIX has a 0.70% expense ratio, which is higher than VOO's 0.03% expense ratio.

Dividends

FAAIX vs. VOO - Dividend Comparison

FAAIX's dividend yield for the trailing twelve months is around 6.60%, more than VOO's 1.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FAAIX Fidelity Advisor Asset Manager 70% Fund Class I	6.60%	7.27%	4.67%	1.70%	6.66%	2.74%	2.11%	5.14%	6.26%	2.74%	0.20%	5.54%
VOO Vanguard S&P 500 ETF	1.07%	1.13%	1.24%	1.46%	1.69%	1.25%	1.54%	1.88%	2.06%	1.78%	2.02%	2.10%

Frequently Asked Questions

Can I hold both FAAIX and VOO in my portfolio?

With a correlation of 0.94, FAAIX and VOO 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, FAAIX or VOO?

VOO has higher volatility (3.54%) compared to FAAIX (3.31%). In terms of maximum drawdown, FAAIX dropped -31.14% vs VOO's -33.99%.

Which has better risk-adjusted returns?

FAAIX currently has the higher Sharpe Ratio (1.66 vs 1.53), 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.