FAYZX vs. CONWX

Last updated Aug 1, 2026

FAYZX (Fidelity Advisor Multi-Asset Income Fund Class I) and CONWX (Concorde Wealth Management Fund) are both Diversified Portfolio funds. Over the past 10 years, FAYZX returned 8.30%/yr vs 8.13%/yr for CONWX. Their 0.72 correlation means they have sometimes moved together and sometimes differently. FAYZX charges 0.80%/yr vs 1.41%/yr for CONWX.

Performance

FAYZX vs. CONWX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Multi-Asset Income Fund Class I (FAYZX) and Concorde Wealth Management Fund (CONWX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FAYZX achieves a 4.06% return, which is significantly lower than CONWX's 7.66% return. Both investments have delivered pretty close results over the past 10 years, with FAYZX having a 8.30% annualized return and CONWX not far behind at 8.13%.

FAYZX

• 1D: 1.02%
• 1M: -1.43%
• 6M: 0.65%
• YTD: 4.06%
• 1Y: 10.81%
• 3Y*: 10.12%
• 5Y*: 5.43%
• 10Y*: 8.30%
• ALL TIME*: 8.74%

CONWX

• 1D: 0.19%
• 1M: 0.73%
• 6M: 3.04%
• YTD: 7.66%
• 1Y: 16.33%
• 3Y*: 11.21%
• 5Y*: 6.58%
• 10Y*: 8.13%
• ALL TIME*: 8.52%

*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)
CONWX Concorde Wealth Management Fund	$0.00	$0.00	$0.00
FAYZX Fidelity Advisor Multi-Asset Income Fund Class I	$0.00	$0.00	$0.00

FAYZX vs. CONWX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FAYZX Fidelity Advisor Multi-Asset Income Fund Class I	4.06%	14.13%	9.59%	11.73%	-13.69%	17.17%	16.39%	23.15%	-3.01%	6.21%
CONWX Concorde Wealth Management Fund	7.66%	11.95%	13.58%	0.20%	-2.51%	19.73%	8.76%	16.84%	-1.95%	7.17%

Correlation

The correlation between FAYZX and CONWX is 0.41, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.41
Correlation (3Y) Balances recent behavior with more history.	0.57
Correlation (5Y) Shows whether the relationship held over a longer period.	0.66
Correlation (10Y) Provides a long-term view across more market conditions.	0.71
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016	0.72

Over the past year, the correlation between FAYZX and CONWX has dropped to 0.41 - well below their long-term average of 0.72, suggesting their price drivers have been diverging.

Return for Risk

FAYZX vs. CONWX — Risk / Return Rank

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

FAYZX

FAYZX Risk / Return Rank: 28
FAYZX Sharpe Ratio Rank: 26
FAYZX Sortino Ratio Rank: 24
FAYZX Omega Ratio Rank: 24
FAYZX Calmar Ratio Rank: 36
FAYZX Martin Ratio Rank: 28

CONWX

CONWX Risk / Return Rank: 83
CONWX Sharpe Ratio Rank: 87
CONWX Sortino Ratio Rank: 87
CONWX Omega Ratio Rank: 82
CONWX Calmar Ratio Rank: 91
CONWX Martin Ratio Rank: 67

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.

FAYZX vs. CONWX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Multi-Asset Income Fund Class I (FAYZX) and Concorde Wealth Management Fund (CONWX). 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.

	FAYZX	CONWX	Difference
Sharpe ratio: Return per unit of total volatility	0.94	2.15	-1.21
Sortino ratio: Return per unit of downside risk	1.33	3.15	-1.82
Omega ratio: Gain probability vs. loss probability	1.17	1.38	-0.22
Calmar ratio: Return relative to maximum drawdown	1.59	3.43	-1.83
Martin ratio: Return relative to average drawdown	4.32	8.32	-4.00

FAYZX vs. CONWX - Sharpe Ratio Comparison

The current FAYZX Sharpe Ratio is 0.94, which is lower than the CONWX Sharpe Ratio of 2.15. The chart below compares the historical Sharpe Ratios of FAYZX and CONWX, 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

FAYZX vs. CONWX - Drawdown Comparison

The maximum FAYZX drawdown since its inception was -21.64%, smaller than the maximum CONWX drawdown of -26.09%. Use the drawdown chart below to compare losses from any high point for FAYZX and CONWX.

Drawdown Indicators

	FAYZX	CONWX	Difference
Max Drawdown Largest peak-to-trough decline	-21.64%	-26.09%	+4.45%
Max Drawdown (1Y) Largest decline over 1 year	-6.47%	-4.44%	-2.03%
Max Drawdown (3Y) Largest decline over 3 years	-13.18%	-9.86%	-3.32%
Max Drawdown (5Y) Largest decline over 5 years	-18.13%	-12.49%	-5.64%
Max Drawdown (10Y) Largest decline over 10 years	-21.64%	-26.09%	+4.45%
Current Drawdown Current decline from peak	-4.72%	-2.50%	-2.22%
Average Drawdown Average peak-to-trough decline	-3.41%	-2.79%	-0.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.38%	1.83%	+0.55%

Volatility

FAYZX vs. CONWX - Volatility Comparison

Fidelity Advisor Multi-Asset Income Fund Class I (FAYZX) has a higher volatility of 3.33% compared to Concorde Wealth Management Fund (CONWX) at 1.88%. This indicates that FAYZX's price experiences larger fluctuations and is considered to be riskier than CONWX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FAYZX	CONWX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.33%	1.88%	+1.45%
Volatility (6M) Calculated over the trailing 6-month period	8.66%	5.07%	+3.59%
Volatility (1Y) Calculated over the trailing 1-year period	11.01%	7.07%	+3.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.02%	10.15%	-0.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.93%	10.99%	-1.06%

FAYZX vs. CONWX - Expense Ratio Comparison

FAYZX has a 0.80% expense ratio, which is lower than CONWX's 1.41% expense ratio.

Dividends

FAYZX vs. CONWX - Dividend Comparison

FAYZX's dividend yield for the trailing twelve months is around 3.47%, more than CONWX's 3.43% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CONWX Concorde Wealth Management Fund	3.43%	3.69%	10.55%	2.16%	7.85%	3.63%	3.86%	2.16%	5.09%	2.48%	0.00%
FAYZX Fidelity Advisor Multi-Asset Income Fund Class I	3.47%	3.77%	3.51%	4.21%	3.73%	2.79%	3.27%	2.82%	2.96%	3.34%	8.29%

Frequently Asked Questions

Can I hold both FAYZX and CONWX in my portfolio?

FAYZX and CONWX have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FAYZX or CONWX?

FAYZX has higher volatility (3.33%) compared to CONWX (1.88%). In terms of maximum drawdown, FAYZX dropped -21.64% vs CONWX's -26.09%.

Which has better risk-adjusted returns?

CONWX currently has the higher Sharpe Ratio (2.15 vs 0.94), 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.