FBAKX vs. ^GSPC

Last updated Apr 2, 2026

Compare and contrast key facts about Fidelity Balanced Fund Class K (FBAKX) and S&P 500 Index (^GSPC).

FBAKX is managed by Fidelity. It was launched on Nov 6, 1986.

Performance

FBAKX vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Balanced Fund Class K (FBAKX) and S&P 500 Index (^GSPC). The values are adjusted to include any dividend payments, if applicable.

FBAKX vs. ^GSPC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FBAKX Fidelity Balanced Fund Class K	-1.74%	15.19%	16.17%	20.40%	-18.22%	18.40%	22.51%	24.50%	-3.89%	16.62%
^GSPC S&P 500 Index	-3.95%	16.39%	23.31%	24.23%	-19.44%	26.89%	16.26%	28.88%	-6.24%	19.42%

Returns By Period

In the year-to-date period, FBAKX achieves a -1.74% return, which is significantly higher than ^GSPC's -3.95% return. Over the past 10 years, FBAKX has underperformed ^GSPC with an annualized return of 10.82%, while ^GSPC has yielded a comparatively higher 12.24% annualized return.

FBAKX

• 1D: 2.04%
• 1M: -3.87%
• YTD: -1.74%
• 6M: 0.84%
• 1Y: 15.80%
• 3Y*: 13.75%
• 5Y*: 7.72%
• 10Y*: 10.82%

^GSPC

• 1D: 0.72%
• 1M: -4.45%
• YTD: -3.95%
• 6M: -2.02%
• 1Y: 16.73%
• 3Y*: 16.96%
• 5Y*: 10.34%
• 10Y*: 12.24%

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

Return for Risk

FBAKX vs. ^GSPC — Risk / Return Rank

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

FBAKX

FBAKX Risk / Return Rank: 78
FBAKX Sharpe Ratio Rank: 75
FBAKX Sortino Ratio Rank: 78
FBAKX Omega Ratio Rank: 77
FBAKX Calmar Ratio Rank: 77
FBAKX Martin Ratio Rank: 84

^GSPC

^GSPC Risk / Return Rank: 67
^GSPC Sharpe Ratio Rank: 63
^GSPC Sortino Ratio Rank: 64
^GSPC Omega Ratio Rank: 69
^GSPC Calmar Ratio Rank: 60
^GSPC Martin Ratio Rank: 77

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.

FBAKX vs. ^GSPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Balanced Fund Class K (FBAKX) and S&P 500 Index (^GSPC). 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.

	FBAKX	^GSPC	Difference
Sharpe ratio Return per unit of total volatility	1.38	0.92	+0.47
Sortino ratio Return per unit of downside risk	2.01	1.41	+0.59
Omega ratio Gain probability vs. loss probability	1.30	1.21	+0.09
Calmar ratio Return relative to maximum drawdown	1.91	1.41	+0.49
Martin ratio Return relative to average drawdown	8.79	6.61	+2.18
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FBAKX vs. ^GSPC - Sharpe Ratio Comparison

The current FBAKX Sharpe Ratio is 1.38, which is higher than the ^GSPC Sharpe Ratio of 0.92. The chart below compares the historical Sharpe Ratios of FBAKX and ^GSPC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FBAKX	^GSPC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.38	0.92	+0.47
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.64	0.61	+0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.85	0.68	+0.17
Sharpe Ratio (All Time) Calculated using the full available price history	0.64	0.46	+0.18

Correlation

The correlation between FBAKX and ^GSPC is 0.97, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Drawdowns

FBAKX vs. ^GSPC - Drawdown Comparison

The maximum FBAKX drawdown since its inception was -41.40%, smaller than the maximum ^GSPC drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for FBAKX and ^GSPC.

Drawdown Indicators

	FBAKX	^GSPC	Difference
Max Drawdown Largest peak-to-trough decline	-41.40%	-56.78%	+15.38%
Max Drawdown (1Y) Largest decline over 1 year	-8.12%	-12.14%	+4.02%
Max Drawdown (5Y) Largest decline over 5 years	-22.84%	-25.43%	+2.59%
Max Drawdown (10Y) Largest decline over 10 years	-26.68%	-33.92%	+7.24%
Current Drawdown Current decline from peak	-4.56%	-5.78%	+1.22%
Average Drawdown Average peak-to-trough decline	-5.18%	-10.75%	+5.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.76%	2.60%	-0.84%

Volatility

FBAKX vs. ^GSPC - Volatility Comparison

The current volatility for Fidelity Balanced Fund Class K (FBAKX) is 4.17%, while S&P 500 Index (^GSPC) has a volatility of 5.37%. This indicates that FBAKX experiences smaller price fluctuations and is considered to be less risky than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FBAKX	^GSPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.17%	5.37%	-1.20%
Volatility (6M) Calculated over the trailing 6-month period	6.77%	9.55%	-2.78%
Volatility (1Y) Calculated over the trailing 1-year period	11.93%	18.33%	-6.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.19%	16.90%	-4.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.74%	18.05%	-5.31%