FAMRX vs. FBALX

Last updated Jun 4, 2026

FAMRX (Fidelity Asset Manager 85% Fund) and FBALX (Fidelity Balanced Fund) are both Diversified Portfolio funds. Over the past 10 years, FAMRX returned 11.74%/yr vs 11.77%/yr for FBALX. Their correlation of 0.93 suggests significant overlap in exposure. FAMRX charges 0.70%/yr vs 0.46%/yr for FBALX.

Performance

FAMRX vs. FBALX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Asset Manager 85% Fund (FAMRX) 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, FAMRX achieves a 14.14% return, which is significantly higher than FBALX's 10.30% return. Both investments have delivered pretty close results over the past 10 years, with FAMRX having a 11.74% annualized return and FBALX not far ahead at 11.77%.

FAMRX

• 1D: 0.58%
• 1M: 5.24%
• YTD: 14.14%
• 6M: 15.35%
• 1Y: 31.11%
• 3Y*: 19.09%
• 5Y*: 9.95%
• 10Y*: 11.74%

FBALX

• 1D: 0.23%
• 1M: 4.04%
• YTD: 10.30%
• 6M: 10.50%
• 1Y: 24.95%
• 3Y*: 16.79%
• 5Y*: 9.51%
• 10Y*: 11.77%

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

FAMRX vs. FBALX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FAMRX Fidelity Asset Manager 85% Fund	14.14%	20.87%	12.60%	18.98%	-18.55%	17.10%	19.37%	26.26%	-9.21%	21.08%
FBALX Fidelity Balanced Fund	10.30%	15.11%	16.09%	20.31%	-18.29%	18.27%	22.45%	24.40%	-3.98%	16.52%

Correlation

The correlation between FAMRX and FBALX is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.96
Correlation (All Time) Calculated using the full available price history since Sep 27, 1999	0.93

The correlation between FAMRX and FBALX has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.

Return for Risk

FAMRX vs. FBALX — Risk / Return Rank

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

FAMRX

FAMRX Risk / Return Rank: 76
FAMRX Sharpe Ratio Rank: 79
FAMRX Sortino Ratio Rank: 73
FAMRX Omega Ratio Rank: 72
FAMRX Calmar Ratio Rank: 75
FAMRX Martin Ratio Rank: 80

FBALX

FBALX Risk / Return Rank: 87
FBALX Sharpe Ratio Rank: 90
FBALX Sortino Ratio Rank: 88
FBALX Omega Ratio Rank: 85
FBALX Calmar Ratio Rank: 84
FBALX Martin Ratio Rank: 91

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.

FAMRX vs. FBALX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Asset Manager 85% Fund (FAMRX) 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.

	FAMRX	FBALX	Difference
Sharpe ratio: Return per unit of total volatility	2.58	2.97	-0.39
Sortino ratio: Return per unit of downside risk	3.54	4.18	-0.64
Omega ratio: Gain probability vs. loss probability	1.48	1.57	-0.09
Calmar ratio: Return relative to maximum drawdown	3.38	3.94	-0.56
Martin ratio: Return relative to average drawdown	15.02	18.87	-3.84
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FAMRX vs. FBALX - Sharpe Ratio Comparison

The current FAMRX Sharpe Ratio is 2.58, which is comparable to the FBALX Sharpe Ratio of 2.97. The chart below compares the historical Sharpe Ratios of FAMRX 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

	FAMRX	FBALX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.58	2.97	-0.39
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.68	0.79	-0.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.77	0.92	-0.15
Sharpe Ratio (All Time) Calculated using the full available price history	0.43	0.81	-0.38

Drawdowns

FAMRX vs. FBALX - Drawdown Comparison

The maximum FAMRX drawdown since its inception was -58.65%, which is greater than FBALX's maximum drawdown of -43.57%. Use the drawdown chart below to compare losses from any high point for FAMRX and FBALX.

Drawdown Indicators

	FAMRX	FBALX	Difference
Max Drawdown Largest peak-to-trough decline	-58.65%	-43.57%	-15.08%
Max Drawdown (1Y) Largest decline over 1 year	-9.33%	-6.47%	-2.86%
Max Drawdown (3Y) Largest decline over 3 years	-15.35%	-12.88%	-2.47%
Max Drawdown (5Y) Largest decline over 5 years	-26.00%	-22.89%	-3.11%
Max Drawdown (10Y) Largest decline over 10 years	-30.96%	-26.68%	-4.28%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-12.32%	-4.37%	-7.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.10%	1.35%	+0.75%

Volatility

FAMRX vs. FBALX - Volatility Comparison

Fidelity Asset Manager 85% Fund (FAMRX) has a higher volatility of 3.82% compared to Fidelity Balanced Fund (FBALX) at 2.58%. This indicates that FAMRX's price experiences larger fluctuations and is considered to be riskier than FBALX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FAMRX	FBALX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.82%	2.58%	+1.24%
Volatility (6M) Calculated over the trailing 6-month period	9.93%	6.80%	+3.13%
Volatility (1Y) Calculated over the trailing 1-year period	12.25%	8.58%	+3.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.64%	12.18%	+2.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.26%	12.78%	+2.48%

FAMRX vs. FBALX - Expense Ratio Comparison

FAMRX has a 0.70% expense ratio, which is higher than FBALX's 0.46% expense ratio.

Dividends

FAMRX vs. FBALX - Dividend Comparison

FAMRX's dividend yield for the trailing twelve months is around 4.87%, less than FBALX's 5.14% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FAMRX Fidelity Asset Manager 85% Fund	4.87%	5.56%	3.44%	1.33%	5.07%	3.15%	1.99%	5.52%	5.62%	2.31%	0.28%	4.83%
FBALX Fidelity Balanced Fund	5.14%	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 FAMRX and FBALX in my portfolio?

With a correlation of 0.96, FAMRX 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, FAMRX or FBALX?

FAMRX has higher volatility (3.82%) compared to FBALX (2.58%). In terms of maximum drawdown, FAMRX dropped -58.65% vs FBALX's -43.57%.

Which has better risk-adjusted returns?

FBALX currently has the higher Sharpe Ratio (2.97 vs 2.58), 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.