FBAL.NEO vs. FBALX

Last updated Jun 4, 2026

FBAL.NEO (Fidelity All-in-One Balanced ETF) and FBALX (Fidelity Balanced Fund) are both Diversified Portfolio funds from Fidelity. Both are actively managed. Over the past 5 years, FBAL.NEO returned 10.75%/yr vs 12.49%/yr for FBALX. A 0.64 correlation means they provide meaningful diversification when combined. FBAL.NEO charges 0.40%/yr vs 0.46%/yr for FBALX.

Performance

FBAL.NEO vs. FBALX - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Fidelity All-in-One Balanced ETF (FBAL.NEO) and Fidelity Balanced Fund (FBALX). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

FBAL.NEO is traded in CAD, while FBALX is traded in USD. To make them comparable, the FBALX values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, FBAL.NEO achieves a 6.89% return, which is significantly lower than FBALX's 11.25% return.

FBAL.NEO

• 1D: -0.26%
• 1M: 2.74%
• YTD: 6.89%
• 6M: 6.75%
• 1Y: 16.29%
• 3Y*: 16.09%
• 5Y*: 10.75%
• 10Y*: —

FBALX

• 1D: 0.54%
• 1M: 5.68%
• YTD: 11.25%
• 6M: 9.63%
• 1Y: 26.05%
• 3Y*: 17.99%
• 5Y*: 12.49%
• 10Y*: 12.53%

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

FBAL.NEO vs. FBALX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
FBAL.NEO Fidelity All-in-One Balanced ETF	6.89%	12.92%	19.42%	13.96%	-7.02%	11.50%
FBALX Fidelity Balanced Fund	11.25%	9.83%	26.07%	17.66%	-12.47%	15.26%

Correlation

The correlation between FBAL.NEO and FBALX is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.65
Correlation (3Y) Calculated over the trailing 3-year period	0.69
Correlation (5Y) Calculated over the trailing 5-year period	0.64
Correlation (All Time) Calculated using the full available price history since Jan 22, 2021	0.64

The correlation between FBAL.NEO and FBALX has been stable across timeframes, ranging from 0.64 to 0.69 - a consistent structural relationship.

Return for Risk

FBAL.NEO vs. FBALX — Risk / Return Rank

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

FBAL.NEO

FBAL.NEO Risk / Return Rank: 63
FBAL.NEO Sharpe Ratio Rank: 64
FBAL.NEO Sortino Ratio Rank: 67
FBAL.NEO Omega Ratio Rank: 68
FBAL.NEO Calmar Ratio Rank: 54
FBAL.NEO Martin Ratio Rank: 62

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.

FBAL.NEO vs. FBALX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity All-in-One Balanced ETF (FBAL.NEO) 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.

	FBAL.NEO	FBALX	Difference
Sharpe ratio: Return per unit of total volatility	2.17	3.03	-0.86
Sortino ratio: Return per unit of downside risk	3.11	4.17	-1.05
Omega ratio: Gain probability vs. loss probability	1.42	1.59	-0.18
Calmar ratio: Return relative to maximum drawdown	2.71	5.34	-2.63
Martin ratio: Return relative to average drawdown	11.32	19.59	-8.27
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FBAL.NEO vs. FBALX - Sharpe Ratio Comparison

The current FBAL.NEO Sharpe Ratio is 2.17, which is comparable to the FBALX Sharpe Ratio of 3.03. The chart below compares the historical Sharpe Ratios of FBAL.NEO 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

	FBAL.NEO	FBALX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.17	3.03	-0.86
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.26	1.19	+0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.11	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.22	1.26	-0.03

Drawdowns

FBAL.NEO vs. FBALX - Drawdown Comparison

The maximum FBAL.NEO drawdown since its inception was -13.83%, smaller than the maximum FBALX drawdown of -19.75%. Use the drawdown chart below to compare losses from any high point for FBAL.NEO and FBALX.

Drawdown Indicators

	FBAL.NEO	FBALX	Difference
Max Drawdown Largest peak-to-trough decline	-13.83%	-19.75%	+5.92%
Max Drawdown (1Y) Largest decline over 1 year	-6.04%	-4.99%	-1.05%
Max Drawdown (3Y) Largest decline over 3 years	-8.29%	-14.14%	+5.85%
Max Drawdown (5Y) Largest decline over 5 years	-13.83%	-19.43%	+5.60%
Max Drawdown (10Y) Largest decline over 10 years	—	-19.75%	—
Current Drawdown Current decline from peak	-0.45%	0.00%	-0.45%
Average Drawdown Average peak-to-trough decline	-2.43%	-2.64%	+0.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.44%	1.36%	+0.08%

Volatility

FBAL.NEO vs. FBALX - Volatility Comparison

Fidelity All-in-One Balanced ETF (FBAL.NEO) has a higher volatility of 2.78% compared to Fidelity Balanced Fund (FBALX) at 2.61%. This indicates that FBAL.NEO'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

	FBAL.NEO	FBALX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.78%	2.61%	+0.17%
Volatility (6M) Calculated over the trailing 6-month period	6.08%	6.95%	-0.87%
Volatility (1Y) Calculated over the trailing 1-year period	7.54%	8.79%	-1.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.58%	10.59%	-2.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.57%	11.37%	-2.80%

FBAL.NEO vs. FBALX - Expense Ratio Comparison

FBAL.NEO has a 0.40% expense ratio, which is lower than FBALX's 0.46% expense ratio.

Dividends

FBAL.NEO vs. FBALX - Dividend Comparison

FBAL.NEO's dividend yield for the trailing twelve months is around 1.51%, less than FBALX's 5.14% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FBAL.NEO Fidelity All-in-One Balanced ETF	1.51%	1.61%	1.42%	1.71%	4.48%	1.08%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
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 FBAL.NEO and FBALX in my portfolio?

FBAL.NEO and FBALX have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.