FAAIX vs. VTCLX

Last updated Jun 4, 2026

FAAIX (Fidelity Advisor Asset Manager 70% Fund Class I) and VTCLX (Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares) are both mutual funds - FAAIX is a Diversified Portfolio fund managed by BlackRock, while VTCLX is a Large Cap Blend Equities fund managed by BlackRock. Over the past 10 years, FAAIX returned 9.98%/yr vs 15.47%/yr for VTCLX. With a 0.95 correlation, they move nearly in lockstep. FAAIX charges 0.70%/yr vs 0.09%/yr for VTCLX.

Performance

FAAIX vs. VTCLX - 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 Tax-Managed Capital Appreciation Fund Admiral Shares (VTCLX). 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 11.90% return and VTCLX slightly lower at 11.31%. Over the past 10 years, FAAIX has underperformed VTCLX with an annualized return of 9.98%, while VTCLX has yielded a comparatively higher 15.47% annualized return.

FAAIX

• 1D: 0.48%
• 1M: 4.37%
• YTD: 11.90%
• 6M: 12.88%
• 1Y: 26.48%
• 3Y*: 16.41%
• 5Y*: 8.43%
• 10Y*: 9.98%

VTCLX

• 1D: 0.22%
• 1M: 5.61%
• YTD: 11.31%
• 6M: 11.26%
• 1Y: 28.29%
• 3Y*: 22.21%
• 5Y*: 13.46%
• 10Y*: 15.47%

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

FAAIX vs. VTCLX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FAAIX Fidelity Advisor Asset Manager 70% Fund Class I	11.90%	18.16%	10.76%	16.41%	-16.83%	13.93%	17.18%	22.74%	-7.69%	17.33%
VTCLX Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares	11.31%	17.44%	23.76%	26.62%	-19.07%	26.87%	21.08%	31.47%	-4.98%	22.40%

Correlation

The correlation between FAAIX and VTCLX is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Oct 2, 2008	0.95

The correlation between FAAIX and VTCLX has been stable across timeframes, ranging from 0.93 to 0.95 - a consistent structural relationship.

FAAIX vs. VTCLX - Sectors Allocation Comparison

Sectors	FAAIX	VTCLX
Technology	25.9%	33.9%
Financial Services	16.7%	11.9%
Industrials	13.3%	8.8%
Consumer Cyclical	9.3%	10.1%
Healthcare	8.9%	8.6%
Communication Services	7.7%	10.9%
Consumer Defensive	5.0%	4.9%
Basic Materials	4.6%	2.1%
Energy	3.8%	3.8%
Utilities	2.6%	2.7%
Real Estate	2.2%	2.0%

Return for Risk

FAAIX vs. VTCLX — Risk / Return Rank

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

FAAIX

FAAIX Risk / Return Rank: 76
FAAIX Sharpe Ratio Rank: 80
FAAIX Sortino Ratio Rank: 75
FAAIX Omega Ratio Rank: 74
FAAIX Calmar Ratio Rank: 73
FAAIX Martin Ratio Rank: 79

VTCLX

VTCLX Risk / Return Rank: 70
VTCLX Sharpe Ratio Rank: 69
VTCLX Sortino Ratio Rank: 63
VTCLX Omega Ratio Rank: 62
VTCLX Calmar Ratio Rank: 73
VTCLX Martin Ratio Rank: 82

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.

FAAIX vs. VTCLX - 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 Tax-Managed Capital Appreciation Fund Admiral Shares (VTCLX). 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.

	FAAIX	VTCLX	Difference
Sharpe ratio: Return per unit of total volatility	2.60	2.43	+0.17
Sortino ratio: Return per unit of downside risk	3.62	3.32	+0.30
Omega ratio: Gain probability vs. loss probability	1.49	1.44	+0.05
Calmar ratio: Return relative to maximum drawdown	3.36	3.32	+0.04
Martin ratio: Return relative to average drawdown	14.83	15.43	-0.60
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FAAIX vs. VTCLX - Sharpe Ratio Comparison

The current FAAIX Sharpe Ratio is 2.60, which is comparable to the VTCLX Sharpe Ratio of 2.43. The chart below compares the historical Sharpe Ratios of FAAIX and VTCLX, 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

	FAAIX	VTCLX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.60	2.43	+0.17
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.69	0.79	-0.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.79	0.85	-0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.65	0.53	+0.12

Drawdowns

FAAIX vs. VTCLX - Drawdown Comparison

The maximum FAAIX drawdown since its inception was -31.14%, smaller than the maximum VTCLX drawdown of -55.18%. Use the drawdown chart below to compare losses from any high point for FAAIX and VTCLX.

Drawdown Indicators

	FAAIX	VTCLX	Difference
Max Drawdown Largest peak-to-trough decline	-31.14%	-55.18%	+24.04%
Max Drawdown (1Y) Largest decline over 1 year	-7.98%	-8.79%	+0.81%
Max Drawdown (3Y) Largest decline over 3 years	-12.77%	-19.01%	+6.24%
Max Drawdown (5Y) Largest decline over 5 years	-23.58%	-24.98%	+1.40%
Max Drawdown (10Y) Largest decline over 10 years	-27.21%	-34.56%	+7.35%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-4.44%	-7.57%	+3.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.81%	1.89%	-0.08%

Volatility

FAAIX vs. VTCLX - Volatility Comparison

Fidelity Advisor Asset Manager 70% Fund Class I (FAAIX) has a higher volatility of 3.30% compared to Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares (VTCLX) at 2.86%. This indicates that FAAIX's price experiences larger fluctuations and is considered to be riskier than VTCLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FAAIX	VTCLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.30%	2.86%	+0.44%
Volatility (6M) Calculated over the trailing 6-month period	8.39%	9.09%	-0.70%
Volatility (1Y) Calculated over the trailing 1-year period	10.33%	12.01%	-1.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.27%	17.22%	-4.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.65%	18.28%	-5.63%

FAAIX vs. VTCLX - Expense Ratio Comparison

FAAIX has a 0.70% expense ratio, which is higher than VTCLX's 0.09% expense ratio.

Dividends

FAAIX vs. VTCLX - Dividend Comparison

FAAIX's dividend yield for the trailing twelve months is around 6.50%, more than VTCLX's 0.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FAAIX Fidelity Advisor Asset Manager 70% Fund Class I	6.50%	7.27%	4.67%	1.70%	6.66%	2.74%	2.11%	5.14%	6.26%	2.74%	0.20%	5.54%
VTCLX Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares	0.85%	0.93%	1.04%	1.24%	1.47%	1.04%	1.32%	1.52%	1.83%	1.57%	1.76%	1.69%

Frequently Asked Questions

Can I hold both FAAIX and VTCLX in my portfolio?

With a correlation of 0.94, FAAIX and VTCLX 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 VTCLX?

FAAIX has higher volatility (3.30%) compared to VTCLX (2.86%). In terms of maximum drawdown, FAAIX dropped -31.14% vs VTCLX's -55.18%.

Which has better risk-adjusted returns?

FAAIX currently has the higher Sharpe Ratio (2.60 vs 2.43), 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.