FBALX vs. SWOBX

Last updated Jun 4, 2026

FBALX (Fidelity Balanced Fund) and SWOBX (Schwab Balanced Fund™) are both Diversified Portfolio funds. Over the past 10 years, FBALX returned 11.77%/yr vs 8.92%/yr for SWOBX. Their correlation of 0.94 suggests significant overlap in exposure. FBALX charges 0.51%/yr vs 0.00%/yr for SWOBX.

Performance

FBALX vs. SWOBX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Balanced Fund (FBALX) and Schwab Balanced Fund™ (SWOBX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FBALX achieves a 10.30% return, which is significantly higher than SWOBX's 6.26% return. Over the past 10 years, FBALX has outperformed SWOBX with an annualized return of 11.77%, while SWOBX has yielded a comparatively lower 8.92% annualized return.

FBALX

• 1D: 0.23%
• 1M: 4.04%
• YTD: 10.30%
• 6M: 10.50%
• 1Y: 24.95%
• 3Y*: 16.79%
• 5Y*: 9.51%
• 10Y*: 11.77%

SWOBX

• 1D: 0.05%
• 1M: 3.09%
• YTD: 6.26%
• 6M: 6.11%
• 1Y: 17.29%
• 3Y*: 13.39%
• 5Y*: 6.93%
• 10Y*: 8.92%

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

FBALX vs. SWOBX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FBALX Fidelity Balanced Fund	10.30%	15.11%	16.09%	20.31%	-18.29%	18.27%	22.45%	24.40%	-3.98%	16.52%
SWOBX Schwab Balanced Fund™	6.26%	12.76%	12.51%	18.25%	-18.86%	14.76%	14.73%	20.13%	-4.35%	15.52%

Correlation

The correlation between FBALX and SWOBX is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.97
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.96
Correlation (All Time) Calculated using the full available price history since Jan 3, 1997	0.94

The correlation between FBALX and SWOBX has been stable across timeframes, ranging from 0.94 to 0.97 - a consistent structural relationship.

Return for Risk

FBALX vs. SWOBX — Risk / Return Rank

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

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

SWOBX

SWOBX Risk / Return Rank: 51
SWOBX Sharpe Ratio Rank: 49
SWOBX Sortino Ratio Rank: 49
SWOBX Omega Ratio Rank: 48
SWOBX Calmar Ratio Rank: 49
SWOBX Martin Ratio Rank: 60

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.

FBALX vs. SWOBX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Balanced Fund (FBALX) and Schwab Balanced Fund™ (SWOBX). 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.

	FBALX	SWOBX	Difference
Sharpe ratio Return per unit of total volatility	2.97	2.06	+0.91
Sortino ratio Return per unit of downside risk	4.18	2.96	+1.22
Omega ratio Gain probability vs. loss probability	1.57	1.38	+0.19
Calmar ratio Return relative to maximum drawdown	3.94	2.68	+1.26
Martin ratio Return relative to average drawdown	18.87	11.90	+6.97
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FBALX vs. SWOBX - Sharpe Ratio Comparison

The current FBALX Sharpe Ratio is 2.97, which is higher than the SWOBX Sharpe Ratio of 2.06. The chart below compares the historical Sharpe Ratios of FBALX and SWOBX, 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

	FBALX	SWOBX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.97	2.06	+0.91
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.79	0.50	+0.29
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.92	0.70	+0.23
Sharpe Ratio (All Time) Calculated using the full available price history	0.81	0.61	+0.21

Drawdowns

FBALX vs. SWOBX - Drawdown Comparison

The maximum FBALX drawdown since its inception was -43.57%, which is greater than SWOBX's maximum drawdown of -35.99%. Use the drawdown chart below to compare losses from any high point for FBALX and SWOBX.

Drawdown Indicators

	FBALX	SWOBX	Difference
Max Drawdown Largest peak-to-trough decline	-43.57%	-35.99%	-7.58%
Max Drawdown (1Y) Largest decline over 1 year	-6.47%	-6.58%	+0.11%
Max Drawdown (3Y) Largest decline over 3 years	-12.88%	-11.72%	-1.16%
Max Drawdown (5Y) Largest decline over 5 years	-22.89%	-28.30%	+5.41%
Max Drawdown (10Y) Largest decline over 10 years	-26.68%	-28.30%	+1.62%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-4.37%	-6.21%	+1.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.35%	1.48%	-0.13%

Volatility

FBALX vs. SWOBX - Volatility Comparison

Fidelity Balanced Fund (FBALX) and Schwab Balanced Fund™ (SWOBX) have volatilities of 2.58% and 2.53%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FBALX	SWOBX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.58%	2.53%	+0.05%
Volatility (6M) Calculated over the trailing 6-month period	6.80%	6.74%	+0.06%
Volatility (1Y) Calculated over the trailing 1-year period	8.58%	8.58%	0.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.18%	13.96%	-1.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.78%	12.88%	-0.10%

FBALX vs. SWOBX - Expense Ratio Comparison

FBALX has a 0.51% expense ratio, which is higher than SWOBX's 0.00% expense ratio.

Dividends

FBALX vs. SWOBX - Dividend Comparison

FBALX's dividend yield for the trailing twelve months is around 5.14%, which matches SWOBX's 5.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
SWOBX Schwab Balanced Fund™	5.15%	5.47%	4.94%	5.67%	10.21%	6.47%	2.97%	5.21%	7.11%	3.20%	7.83%	7.66%

Frequently Asked Questions

Can I hold both FBALX and SWOBX in my portfolio?

With a correlation of 0.97, FBALX and SWOBX 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, FBALX or SWOBX?

FBALX has higher volatility (2.58%) compared to SWOBX (2.53%). In terms of maximum drawdown, FBALX dropped -43.57% vs SWOBX's -35.99%.

Which has better risk-adjusted returns?

FBALX currently has the higher Sharpe Ratio (2.97 vs 2.06), 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.