FBALX vs. VWITX
FBALX (Fidelity Balanced Fund) and VWITX (Vanguard Intermediate-Term Tax-Exempt Fund Investor Shares) are both mutual funds - FBALX is a Diversified Portfolio fund actively managed by Fidelity, while VWITX is a Municipal Bonds fund managed by Vanguard. Over the past 10 years, FBALX returned 11.86%/yr vs 2.33%/yr for VWITX. At a 0.08 correlation, their price movements are largely independent. FBALX charges 0.46%/yr vs 0.17%/yr for VWITX.
Performance
FBALX vs. VWITX - Performance Comparison
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Returns By Period
In the year-to-date period, FBALX achieves a 10.21% return, which is significantly higher than VWITX's 1.30% return. Over the past 10 years, FBALX has outperformed VWITX with an annualized return of 11.86%, while VWITX has yielded a comparatively lower 2.33% annualized return.
FBALX
- 1D
- 0.94%
- 1M
- 1.41%
- YTD
- 10.21%
- 6M
- 10.14%
- 1Y
- 23.97%
- 3Y*
- 16.11%
- 5Y*
- 9.49%
- 10Y*
- 11.86%
VWITX
- 1D
- 0.00%
- 1M
- 1.30%
- YTD
- 1.30%
- 6M
- 1.72%
- 1Y
- 6.50%
- 3Y*
- 4.41%
- 5Y*
- 1.62%
- 10Y*
- 2.33%
FBALX vs. VWITX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FBALX Fidelity Balanced Fund | 10.21% | 15.11% | 16.09% | 20.31% | -18.29% | 18.27% | 22.45% | 24.40% | -3.98% | 16.52% |
VWITX Vanguard Intermediate-Term Tax-Exempt Fund Investor Shares | 1.30% | 5.89% | 2.23% | 5.82% | -6.90% | 0.74% | 5.14% | 7.01% | 1.26% | 4.54% |
Correlation
The correlation between FBALX and VWITX is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.21 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.18 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.08 |
Correlation (All Time) Calculated using the full available price history since Nov 6, 1986 | 0.08 |
The correlation between FBALX and VWITX shifts across timeframes, from 0.08 (10 years) to 0.21 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
FBALX vs. VWITX — Risk / Return Rank
FBALX
VWITX
FBALX vs. VWITX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Balanced Fund (FBALX) and Vanguard Intermediate-Term Tax-Exempt Fund Investor Shares (VWITX). 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.
| FBALX | VWITX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.18 | ||
| Sortino ratioReturn per unit of downside risk | -0.84 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 1.75 | -0.25 |
| Calmar ratioReturn relative to maximum drawdown | 3.71 | 2.18 | +1.53 |
| Martin ratioReturn relative to average drawdown | 17.34 | 7.04 | +10.30 |
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Drawdowns
FBALX vs. VWITX - Drawdown Comparison
The maximum FBALX drawdown since its inception was -43.57%, which is greater than VWITX's maximum drawdown of -29.13%. Use the drawdown chart below to compare losses from any high point for FBALX and VWITX.
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Drawdown Indicators
| FBALX | VWITX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.57% | -29.13% | -14.44% |
Max Drawdown (1Y)Largest decline over 1 year | -6.47% | -2.99% | -3.48% |
Max Drawdown (3Y)Largest decline over 3 years | -12.88% | -4.42% | -8.46% |
Max Drawdown (5Y)Largest decline over 5 years | -22.89% | -11.46% | -11.43% |
Max Drawdown (10Y)Largest decline over 10 years | -26.68% | -11.46% | -15.22% |
Current DrawdownCurrent decline from peak | -0.14% | -0.89% | +0.75% |
Average DrawdownAverage peak-to-trough decline | -4.37% | -3.57% | -0.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.38% | 0.92% | +0.46% |
Volatility
FBALX vs. VWITX - Volatility Comparison
Fidelity Balanced Fund (FBALX) has a higher volatility of 3.74% compared to Vanguard Intermediate-Term Tax-Exempt Fund Investor Shares (VWITX) at 0.61%. This indicates that FBALX's price experiences larger fluctuations and is considered to be riskier than VWITX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FBALX | VWITX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.74% | 0.61% | +3.13% |
Volatility (6M)Calculated over the trailing 6-month period | 7.52% | 1.85% | +5.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.16% | 2.33% | +6.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.26% | 3.26% | +9.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.82% | 3.42% | +9.40% |
FBALX vs. VWITX - Expense Ratio Comparison
FBALX has a 0.46% expense ratio, which is higher than VWITX's 0.17% expense ratio.
Dividends
FBALX vs. VWITX - Dividend Comparison
FBALX's dividend yield for the trailing twelve months is around 5.14%, more than VWITX's 3.25% 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% |
VWITX Vanguard Intermediate-Term Tax-Exempt Fund Investor Shares | 3.25% | 3.96% | 3.53% | 2.70% | 2.43% | 1.83% | 2.32% | 2.80% | 2.80% | 2.72% | 2.80% | 2.88% |
Frequently Asked Questions
FBALX and VWITX have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FBALX has higher volatility (3.74%) compared to VWITX (0.61%). In terms of maximum drawdown, FBALX dropped -43.57% vs VWITX's -29.13%.
VWITX currently has the higher Sharpe Ratio (2.80 vs 2.62), 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.
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