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FBAL.NEO vs. FBALX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FBAL.NEO vs. FBALX

Last updated Jun 26, 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 10.06%/yr vs 11.90%/yr for FBALX. A 0.62 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.

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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 7.72% return, which is significantly lower than FBALX's 12.89% return.

FBAL.NEO

1D
0.00%
1M
0.85%
YTD
7.72%
6M
7.14%
1Y
16.85%
3Y*
16.58%
5Y*
10.06%
10Y*
—

FBALX

1D
0.51%
1M
2.26%
YTD
12.89%
6M
12.16%
1Y
24.79%
3Y*
18.94%
5Y*
11.90%
10Y*
13.03%
*Multi-year figures are annualized to reflect compound growth (CAGR)

FBAL.NEO vs. FBALX - Yearly Performance Comparison

2026 (YTD)20252024202320222021
FBAL.NEO
Fidelity All-in-One Balanced ETF		7.72%12.92%19.42%13.96%-9.60%11.51%
FBALX
Fidelity Balanced Fund		12.89%9.85%25.92%17.45%-13.11%15.45%

Correlation

The correlation between FBAL.NEO and FBALX is 0.70, 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

0.70

Correlation (3Y)
Calculated over the trailing 3-year period

0.66

Correlation (5Y)
Calculated over the trailing 5-year period

0.63

Correlation (All Time)
Calculated using the full available price history since Jan 21, 2021

0.62

The correlation between FBAL.NEO and FBALX has been stable across timeframes, ranging from 0.62 to 0.70 - a consistent structural relationship.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Fidelity All-in-One Balanced ETF

Fidelity Balanced Fund

Often compared with FBAL.NEO:
FBAL.NEO vs. VBAL.TOFBAL.NEO vs. XBAL.TOFBAL.NEO vs. FGRO.NEOFBAL.NEO vs. AMBFXFBAL.NEO vs. ZBAL.TOFBAL.NEO vs. HDIF.TOFBAL.NEO vs. ZMI.TO
Often compared with FBALX:
FBALX vs. VWELXFBALX vs. FPURXFBALX vs. VBIAXFBALX vs. FXAIXFBALX vs. ABALXFBALX vs. FFNOXFBALX vs. FAGIX

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: 7272
Overall Rank
FBAL.NEO Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
FBAL.NEO Sortino Ratio Rank: 7676
Sortino Ratio Rank
FBAL.NEO Omega Ratio Rank: 7676
Omega Ratio Rank
FBAL.NEO Calmar Ratio Rank: 6464
Calmar Ratio Rank
FBAL.NEO Martin Ratio Rank: 7171
Martin Ratio Rank
FBALX
FBALX Risk / Return Rank: 8181
Overall Rank
FBALX Sharpe Ratio Rank: 8080
Sharpe Ratio Rank
FBALX Sortino Ratio Rank: 7878
Sortino Ratio Rank
FBALX Omega Ratio Rank: 7878
Omega Ratio Rank
FBALX Calmar Ratio Rank: 8080
Calmar Ratio Rank
FBALX Martin Ratio Rank: 8989
Martin Ratio Rank
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.

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.

FBAL.NEOFBALXDifference
Sharpe ratioReturn per unit of total volatility
2.08
2.53

-0.44

Sortino ratioReturn per unit of downside risk
2.95
3.58

-0.63

Omega ratioGain probability vs. loss probability

1.39

1.45

-0.06

Calmar ratioReturn relative to maximum drawdown

2.74

4.64

-1.90

Martin ratioReturn relative to average drawdown

11.48

16.70

-5.22

FBAL.NEO vs. FBALX - Sharpe Ratio Comparison

The current FBAL.NEO Sharpe Ratio is 2.08, which is comparable to the FBALX Sharpe Ratio of 2.53. 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.

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Drawdowns

FBAL.NEO vs. FBALX - Drawdown Comparison

The maximum FBAL.NEO drawdown since its inception was -16.23%, smaller than the maximum FBALX drawdown of -32.02%. Use the drawdown chart below to compare losses from any high point for FBAL.NEO and FBALX.

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Drawdown Indicators

FBAL.NEOFBALXDifference

Max Drawdown

Largest peak-to-trough decline

-16.23%

-32.02%

+15.79%

Max Drawdown (1Y)

Largest decline over 1 year

-6.17%

-5.39%

-0.78%

Max Drawdown (3Y)

Largest decline over 3 years

-8.29%

-13.98%

+5.69%

Max Drawdown (5Y)

Largest decline over 5 years

-16.23%

-19.99%

+3.76%

Max Drawdown (10Y)

Largest decline over 10 years

—

-20.05%

—

Current Drawdown

Current decline from peak

-0.71%

-0.66%

-0.05%

Average Drawdown

Average peak-to-trough decline

-3.23%

-5.58%

+2.35%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.47%

1.49%

-0.02%

Volatility

FBAL.NEO vs. FBALX - Volatility Comparison

The current volatility for Fidelity All-in-One Balanced ETF (FBAL.NEO) is 2.63%, while Fidelity Balanced Fund (FBALX) has a volatility of 4.22%. This indicates that FBAL.NEO experiences smaller price fluctuations and is considered to be less risky than FBALX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FBAL.NEOFBALXDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.63%

4.22%

-1.59%

Volatility (6M)

Calculated over the trailing 6-month period

6.71%

8.11%

-1.40%

Volatility (1Y)

Calculated over the trailing 1-year period

8.15%

9.92%

-1.77%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

8.57%

13.65%

-5.08%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

8.52%

14.28%

-5.76%

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 1.50%, less than FBALX's 5.21% yield.

PositionTTM20252024202320222021202020192018201720162015
FBAL.NEO
Fidelity All-in-One Balanced ETF		1.50%1.61%1.42%1.71%1.57%1.08%0.00%0.00%0.00%0.00%0.00%0.00%
FBALX
Fidelity Balanced Fund		5.21%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

FBAL.NEO and FBALX have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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