FBALX vs. YAFFX

Last updated Jun 13, 2026

FBALX (Fidelity Balanced Fund) and YAFFX (AMG Yacktman Focused Fund) are both mutual funds - FBALX is a Diversified Portfolio fund actively managed by Fidelity, while YAFFX is a Large Cap Value Equities fund managed by AMG. Over the past 10 years, FBALX returned 11.70%/yr vs 12.50%/yr for YAFFX. A 0.77 correlation means they provide meaningful diversification when combined. FBALX charges 0.46%/yr vs 1.25%/yr for YAFFX.

Performance

FBALX vs. YAFFX - Performance Comparison

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

Returns By Period

In the year-to-date period, FBALX achieves a 8.71% return, which is significantly lower than YAFFX's 25.77% return. Over the past 10 years, FBALX has underperformed YAFFX with an annualized return of 11.70%, while YAFFX has yielded a comparatively higher 12.50% annualized return.

FBALX

• 1D: 1.52%
• 1M: -0.11%
• YTD: 8.71%
• 6M: 9.51%
• 1Y: 21.68%
• 3Y*: 15.96%
• 5Y*: 8.88%
• 10Y*: 11.70%

YAFFX

• 1D: 2.63%
• 1M: 0.37%
• YTD: 25.77%
• 6M: 8.10%
• 1Y: 20.56%
• 3Y*: 16.12%
• 5Y*: 9.34%
• 10Y*: 12.50%

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

FBALX vs. YAFFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FBALX Fidelity Balanced Fund	8.71%	15.11%	16.09%	20.31%	-18.29%	18.27%	22.45%	24.40%	-3.98%	16.52%
YAFFX AMG Yacktman Focused Fund	25.77%	3.89%	9.30%	16.53%	-8.20%	16.48%	17.22%	19.21%	2.99%	20.07%

Correlation

The correlation between FBALX and YAFFX is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (3Y) Calculated over the trailing 3-year period	0.61
Correlation (5Y) Calculated over the trailing 5-year period	0.73
Correlation (10Y) Calculated over the trailing 10-year period	0.74
Correlation (All Time) Calculated using the full available price history since Apr 30, 1997	0.77

Over the past year, the correlation between FBALX and YAFFX has dropped to 0.47 - well below their long-term average of 0.77, suggesting their price drivers have been diverging.

Return for Risk

FBALX vs. YAFFX — 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: 87
FBALX Sortino Ratio Rank: 84
FBALX Omega Ratio Rank: 83
FBALX Calmar Ratio Rank: 86
FBALX Martin Ratio Rank: 93

YAFFX

YAFFX Risk / Return Rank: 22
YAFFX Sharpe Ratio Rank: 18
YAFFX Sortino Ratio Rank: 13
YAFFX Omega Ratio Rank: 39
YAFFX Calmar Ratio Rank: 20
YAFFX Martin Ratio Rank: 22

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. YAFFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Balanced Fund (FBALX) and AMG Yacktman Focused Fund (YAFFX). 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	YAFFX	Difference
Sharpe ratio: Return per unit of total volatility	2.45	0.94	+1.51
Sortino ratio: Return per unit of downside risk	3.39	1.12	+2.27
Omega ratio: Gain probability vs. loss probability	1.47	1.26	+0.21
Calmar ratio: Return relative to maximum drawdown	3.44	1.26	+2.18
Martin ratio: Return relative to average drawdown	16.08	4.47	+11.61

FBALX vs. YAFFX - Sharpe Ratio Comparison

The current FBALX Sharpe Ratio is 2.45, which is higher than the YAFFX Sharpe Ratio of 0.94. The chart below compares the historical Sharpe Ratios of FBALX and YAFFX, 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

FBALX vs. YAFFX - Drawdown Comparison

The maximum FBALX drawdown since its inception was -43.57%, roughly equal to the maximum YAFFX drawdown of -43.80%. Use the drawdown chart below to compare losses from any high point for FBALX and YAFFX.

Drawdown Indicators

	FBALX	YAFFX	Difference
Max Drawdown Largest peak-to-trough decline	-43.57%	-43.80%	+0.23%
Max Drawdown (1Y) Largest decline over 1 year	-6.47%	-17.08%	+10.61%
Max Drawdown (3Y) Largest decline over 3 years	-12.88%	-18.88%	+6.00%
Max Drawdown (5Y) Largest decline over 5 years	-22.89%	-21.31%	-1.58%
Max Drawdown (10Y) Largest decline over 10 years	-26.68%	-30.62%	+3.94%
Current Drawdown Current decline from peak	-1.44%	-4.28%	+2.84%
Average Drawdown Average peak-to-trough decline	-4.37%	-6.21%	+1.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.38%	4.77%	-3.39%

Volatility

FBALX vs. YAFFX - Volatility Comparison

The current volatility for Fidelity Balanced Fund (FBALX) is 3.69%, while AMG Yacktman Focused Fund (YAFFX) has a volatility of 7.30%. This indicates that FBALX experiences smaller price fluctuations and is considered to be less risky than YAFFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FBALX	YAFFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.69%	7.30%	-3.61%
Volatility (6M) Calculated over the trailing 6-month period	7.41%	22.77%	-15.36%
Volatility (1Y) Calculated over the trailing 1-year period	9.06%	22.71%	-13.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.24%	18.22%	-5.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.81%	16.59%	-3.78%

FBALX vs. YAFFX - Expense Ratio Comparison

FBALX has a 0.46% expense ratio, which is lower than YAFFX's 1.25% expense ratio.

Dividends

FBALX vs. YAFFX - Dividend Comparison

FBALX's dividend yield for the trailing twelve months is around 5.22%, while YAFFX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FBALX Fidelity Balanced Fund	5.22%	5.69%	5.67%	2.28%	8.06%	9.66%	5.90%	4.24%	10.99%	7.90%	3.07%	7.70%
YAFFX AMG Yacktman Focused Fund	0.00%	0.00%	18.44%	4.42%	7.60%	4.70%	11.87%	15.84%	22.15%	11.82%	11.81%	24.36%

Frequently Asked Questions

Can I hold both FBALX and YAFFX in my portfolio?

FBALX and YAFFX have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FBALX or YAFFX?

YAFFX has higher volatility (7.30%) compared to FBALX (3.69%). In terms of maximum drawdown, FBALX dropped -43.57% vs YAFFX's -43.80%.

Which has better risk-adjusted returns?

FBALX currently has the higher Sharpe Ratio (2.45 vs 0.94), 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.