FAMRX vs. SPY

Last updated Jun 23, 2026

FAMRX (Fidelity Asset Manager 85% Fund) and SPY (State Street SPDR S&P 500 ETF) are both funds - FAMRX is a Diversified Portfolio fund managed by BlackRock, while SPY is a S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, FAMRX returned 11.84%/yr vs 15.70%/yr for SPY. Their correlation of 0.92 suggests significant overlap in exposure. FAMRX charges 0.70%/yr vs 0.09%/yr for SPY.

Performance

FAMRX vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Asset Manager 85% Fund (FAMRX) and State Street SPDR S&P 500 ETF (SPY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FAMRX achieves a 14.24% return, which is significantly higher than SPY's 9.74% return. Over the past 10 years, FAMRX has underperformed SPY with an annualized return of 11.84%, while SPY has yielded a comparatively higher 15.70% annualized return.

FAMRX

• 1D: 1.41%
• 1M: 2.49%
• YTD: 14.24%
• 6M: 14.33%
• 1Y: 30.85%
• 3Y*: 18.17%
• 5Y*: 10.08%
• 10Y*: 11.84%

SPY

• 1D: -0.31%
• 1M: 0.09%
• YTD: 9.74%
• 6M: 9.27%
• 1Y: 26.65%
• 3Y*: 21.27%
• 5Y*: 13.51%
• 10Y*: 15.70%

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

FAMRX vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FAMRX Fidelity Asset Manager 85% Fund	14.24%	20.87%	12.60%	18.98%	-18.55%	17.10%	19.37%	26.26%	-9.21%	21.08%
SPY State Street SPDR S&P 500 ETF	9.74%	17.72%	24.89%	26.18%	-18.18%	28.73%	18.33%	31.22%	-4.57%	21.71%

Correlation

The correlation between FAMRX and SPY is 0.95, 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	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Sep 24, 1999	0.92

The correlation between FAMRX and SPY has been stable across timeframes, ranging from 0.92 to 0.95 - a consistent structural relationship.

Return for Risk

FAMRX vs. SPY — Risk / Return Rank

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

FAMRX

FAMRX Risk / Return Rank: 75
FAMRX Sharpe Ratio Rank: 76
FAMRX Sortino Ratio Rank: 71
FAMRX Omega Ratio Rank: 72
FAMRX Calmar Ratio Rank: 76
FAMRX Martin Ratio Rank: 82

SPY

SPY Risk / Return Rank: 68
SPY Sharpe Ratio Rank: 69
SPY Sortino Ratio Rank: 66
SPY Omega Ratio Rank: 68
SPY Calmar Ratio Rank: 63
SPY Martin Ratio Rank: 74

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. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Asset Manager 85% Fund (FAMRX) and State Street SPDR S&P 500 ETF (SPY). 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.

	FAMRX	SPY	Difference
Sharpe ratio: Return per unit of total volatility	2.33	2.16	+0.17
Sortino ratio: Return per unit of downside risk	3.17	2.91	+0.26
Omega ratio: Gain probability vs. loss probability	1.43	1.39	+0.04
Calmar ratio: Return relative to maximum drawdown	3.27	3.01	+0.26
Martin ratio: Return relative to average drawdown	14.19	13.54	+0.66

FAMRX vs. SPY - Sharpe Ratio Comparison

The current FAMRX Sharpe Ratio is 2.33, which is comparable to the SPY Sharpe Ratio of 2.16. The chart below compares the historical Sharpe Ratios of FAMRX and SPY, 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

FAMRX vs. SPY - Drawdown Comparison

The maximum FAMRX drawdown since its inception was -58.65%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for FAMRX and SPY.

Drawdown Indicators

	FAMRX	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-58.65%	-55.19%	-3.46%
Max Drawdown (1Y) Largest decline over 1 year	-9.33%	-8.88%	-0.45%
Max Drawdown (3Y) Largest decline over 3 years	-15.35%	-18.76%	+3.41%
Max Drawdown (5Y) Largest decline over 5 years	-26.00%	-24.50%	-1.50%
Max Drawdown (10Y) Largest decline over 10 years	-30.96%	-33.72%	+2.76%
Current Drawdown Current decline from peak	0.00%	-1.75%	+1.75%
Average Drawdown Average peak-to-trough decline	-12.30%	-9.04%	-3.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.15%	1.97%	+0.18%

Volatility

FAMRX vs. SPY - Volatility Comparison

Fidelity Asset Manager 85% Fund (FAMRX) has a higher volatility of 5.49% compared to State Street SPDR S&P 500 ETF (SPY) at 4.64%. This indicates that FAMRX's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FAMRX	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.49%	4.64%	+0.85%
Volatility (6M) Calculated over the trailing 6-month period	11.02%	9.75%	+1.27%
Volatility (1Y) Calculated over the trailing 1-year period	13.11%	12.43%	+0.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.79%	17.14%	-2.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.33%	17.99%	-2.66%

FAMRX vs. SPY - Expense Ratio Comparison

FAMRX has a 0.70% expense ratio, which is higher than SPY's 0.09% expense ratio.

Dividends

FAMRX vs. SPY - Dividend Comparison

FAMRX's dividend yield for the trailing twelve months is around 4.87%, more than SPY's 1.01% 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%
SPY State Street SPDR S&P 500 ETF	1.01%	1.07%	1.21%	1.40%	1.65%	1.20%	1.52%	1.75%	2.04%	1.80%	2.03%	2.06%

Frequently Asked Questions

Can I hold both FAMRX and SPY in my portfolio?

With a correlation of 0.95, FAMRX and SPY 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 SPY?

FAMRX has higher volatility (5.49%) compared to SPY (4.64%). In terms of maximum drawdown, FAMRX dropped -58.65% vs SPY's -55.19%.

Which has better risk-adjusted returns?

FAMRX currently has the higher Sharpe Ratio (2.33 vs 2.16), 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.