FBAKX vs. VWENX

Last updated Aug 1, 2026

FBAKX (Fidelity Balanced Fund Class K) and VWENX (Vanguard Wellington Fund Admiral Shares) are both Diversified Portfolio funds. Over the past 10 years, FBAKX returned 11.39%/yr vs 9.78%/yr for VWENX. Their 0.95 correlation means they have historically moved very closely together. FBAKX charges 0.45%/yr vs 0.16%/yr for VWENX.

Performance

FBAKX vs. VWENX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Balanced Fund Class K (FBAKX) and Vanguard Wellington Fund Admiral Shares (VWENX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FBAKX achieves a 9.00% return, which is significantly higher than VWENX's 4.93% return. Over the past 10 years, FBAKX has outperformed VWENX with an annualized return of 11.39%, while VWENX has yielded a comparatively lower 9.78% annualized return.

FBAKX

• 1D: 1.16%
• 1M: -0.97%
• 6M: 7.03%
• YTD: 9.00%
• 1Y: 18.27%
• 3Y*: 14.71%
• 5Y*: 8.62%
• 10Y*: 11.39%
• ALL TIME*: 8.97%

VWENX

• 1D: 1.46%
• 1M: -1.14%
• 6M: 4.11%
• YTD: 4.93%
• 1Y: 13.75%
• 3Y*: 13.55%
• 5Y*: 7.79%
• 10Y*: 9.78%
• ALL TIME*: 8.03%

*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)
FBAKX Fidelity Balanced Fund Class K	$0.00	$0.00	$0.00
VWENX Vanguard Wellington Fund Admiral Shares	$0.00	$0.00	$0.00

FBAKX vs. VWENX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FBAKX Fidelity Balanced Fund Class K	9.00%	15.19%	16.17%	20.40%	-18.22%	18.40%	22.51%	23.94%	-3.89%	16.62%
VWENX Vanguard Wellington Fund Admiral Shares	4.93%	16.63%	14.82%	14.40%	-14.31%	19.09%	10.66%	22.61%	-3.35%	14.05%

Correlation

The correlation between FBAKX and VWENX is 0.98 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.98
Correlation (3Y) Balances recent behavior with more history.	0.98
Correlation (5Y) Shows whether the relationship held over a longer period.	0.97
Correlation (10Y) Provides a long-term view across more market conditions.	0.95
Correlation (All Time) Calculated using the full available price history since May 15, 2008	0.95

The correlation between FBAKX and VWENX has been stable across timeframes, ranging from 0.95 to 0.98 - a consistent structural relationship.

Return for Risk

FBAKX vs. VWENX — Risk / Return Rank

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

FBAKX

FBAKX Risk / Return Rank: 81
FBAKX Sharpe Ratio Rank: 79
FBAKX Sortino Ratio Rank: 76
FBAKX Omega Ratio Rank: 77
FBAKX Calmar Ratio Rank: 82
FBAKX Martin Ratio Rank: 90

VWENX

VWENX Risk / Return Rank: 58
VWENX Sharpe Ratio Rank: 56
VWENX Sortino Ratio Rank: 56
VWENX Omega Ratio Rank: 55
VWENX Calmar Ratio Rank: 56
VWENX 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.

FBAKX vs. VWENX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Balanced Fund Class K (FBAKX) and Vanguard Wellington Fund Admiral Shares (VWENX). 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.

	FBAKX	VWENX	Difference
Sharpe ratio: Return per unit of total volatility	1.83	1.38	+0.46
Sortino ratio: Return per unit of downside risk	2.58	1.96	+0.62
Omega ratio: Gain probability vs. loss probability	1.34	1.25	+0.09
Calmar ratio: Return relative to maximum drawdown	2.69	1.90	+0.80
Martin ratio: Return relative to average drawdown	12.11	8.02	+4.09

FBAKX vs. VWENX - Sharpe Ratio Comparison

The current FBAKX Sharpe Ratio is 1.83, which is higher than the VWENX Sharpe Ratio of 1.38. The chart below compares the historical Sharpe Ratios of FBAKX and VWENX, 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

FBAKX vs. VWENX - Drawdown Comparison

The maximum FBAKX drawdown since its inception was -41.40%, which is greater than VWENX's maximum drawdown of -36.02%. Use the drawdown chart below to compare losses from any high point for FBAKX and VWENX.

Drawdown Indicators

	FBAKX	VWENX	Difference
Max Drawdown Largest peak-to-trough decline	-41.40%	-36.02%	-5.38%
Max Drawdown (1Y) Largest decline over 1 year	-6.47%	-6.77%	+0.30%
Max Drawdown (3Y) Largest decline over 3 years	-12.85%	-11.98%	-0.87%
Max Drawdown (5Y) Largest decline over 5 years	-22.84%	-20.84%	-2.00%
Max Drawdown (10Y) Largest decline over 10 years	-26.68%	-25.33%	-1.35%
Current Drawdown Current decline from peak	-1.73%	-2.08%	+0.35%
Average Drawdown Average peak-to-trough decline	-5.10%	-4.34%	-0.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.43%	1.60%	-0.17%

Volatility

FBAKX vs. VWENX - Volatility Comparison

The current volatility for Fidelity Balanced Fund Class K (FBAKX) is 2.56%, while Vanguard Wellington Fund Admiral Shares (VWENX) has a volatility of 2.84%. This indicates that FBAKX experiences smaller price fluctuations and is considered to be less risky than VWENX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FBAKX	VWENX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.56%	2.84%	-0.28%
Volatility (6M) Calculated over the trailing 6-month period	7.72%	7.61%	+0.11%
Volatility (1Y) Calculated over the trailing 1-year period	9.51%	9.33%	+0.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.28%	11.26%	+1.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.79%	11.55%	+1.24%

FBAKX vs. VWENX - Expense Ratio Comparison

FBAKX has a 0.45% expense ratio, which is higher than VWENX's 0.16% expense ratio.

Dividends

FBAKX vs. VWENX - Dividend Comparison

FBAKX's dividend yield for the trailing twelve months is around 5.25%, less than VWENX's 11.11% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FBAKX Fidelity Balanced Fund Class K	5.25%	5.72%	5.74%	2.35%	8.15%	9.74%	5.97%	3.87%	11.09%	7.98%	3.16%	7.79%
VWENX Vanguard Wellington Fund Admiral Shares	11.11%	11.55%	10.85%	6.08%	8.28%	8.72%	7.85%	4.74%	9.58%	5.88%	4.53%	6.58%

Frequently Asked Questions

Can I hold both FBAKX and VWENX in my portfolio?

With a correlation of 0.98, FBAKX and VWENX 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, FBAKX or VWENX?

VWENX has higher volatility (2.84%) compared to FBAKX (2.56%). In terms of maximum drawdown, FBAKX dropped -41.40% vs VWENX's -36.02%.

Which has better risk-adjusted returns?

FBAKX currently has the higher Sharpe Ratio (1.83 vs 1.38), 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.