FBAOX vs. QBDSX

Last updated Aug 4, 2026

FBAOX (Fidelity Advisor Balanced Fund Class A) and QBDSX (Quantified Managed Income Fund) are both Diversified Portfolio funds. Over the past year, FBAOX returned 18.03% vs 0.15% for QBDSX. Their 0.52 correlation means they have sometimes moved together and sometimes differently. FBAOX charges 0.76%/yr vs 1.31%/yr for QBDSX.

Performance

FBAOX vs. QBDSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Balanced Fund Class A (FBAOX) and Quantified Managed Income Fund (QBDSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FBAOX achieves a 8.91% return, which is significantly higher than QBDSX's -0.25% return.

FBAOX

• 1D: 0.49%
• 1M: -0.85%
• 6M: 6.65%
• YTD: 8.91%
• 1Y: 18.03%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 15.84%

QBDSX

• 1D: 0.00%
• 1M: 0.13%
• 6M: -1.00%
• YTD: -0.25%
• 1Y: 0.15%
• 3Y*: 2.28%
• 5Y*: 0.70%
• 10Y*: 0.56%
• ALL TIME*: 0.75%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FBAOX Fidelity Advisor Balanced Fund Class A	$0.00	$0.00	$0.00
QBDSX Quantified Managed Income Fund	$0.00	$0.00	$0.00

FBAOX vs. QBDSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FBAOX Fidelity Advisor Balanced Fund Class A	8.91%	14.81%	4.65%
QBDSX Quantified Managed Income Fund	-0.25%	5.11%	-1.76%

Correlation

The correlation between FBAOX and QBDSX is 0.55, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.55
Correlation (All Time) Calculated using the full available price history since Oct 1, 2024	0.52

The correlation between FBAOX and QBDSX has been stable across timeframes, ranging from 0.52 to 0.55 - a consistent structural relationship.

Return for Risk

FBAOX vs. QBDSX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FBAOX

FBAOX Risk / Return Rank: 76
FBAOX Sharpe Ratio Rank: 73
FBAOX Sortino Ratio Rank: 72
FBAOX Omega Ratio Rank: 71
FBAOX Calmar Ratio Rank: 77
FBAOX Martin Ratio Rank: 87

QBDSX

QBDSX Risk / Return Rank: 4
QBDSX Sharpe Ratio Rank: 4
QBDSX Sortino Ratio Rank: 3
QBDSX Omega Ratio Rank: 3
QBDSX Calmar Ratio Rank: 4
QBDSX Martin Ratio Rank: 4

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FBAOX vs. QBDSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Balanced Fund Class A (FBAOX) and Quantified Managed Income Fund (QBDSX). 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.

	FBAOX	QBDSX	Difference
Sharpe ratio: Return per unit of total volatility	1.80	-0.03	+1.83
Sortino ratio: Return per unit of downside risk	2.54	-0.01	+2.55
Omega ratio: Gain probability vs. loss probability	1.33	1.00	+0.33
Calmar ratio: Return relative to maximum drawdown	2.64	-0.03	+2.67
Martin ratio: Return relative to average drawdown	11.80	-0.07	+11.87

FBAOX vs. QBDSX - Sharpe Ratio Comparison

The current FBAOX Sharpe Ratio is 1.80, which is higher than the QBDSX Sharpe Ratio of -0.03. The chart below compares the historical Sharpe Ratios of FBAOX and QBDSX, 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

FBAOX vs. QBDSX - Drawdown Comparison

The maximum FBAOX drawdown since its inception was -12.61%, smaller than the maximum QBDSX drawdown of -18.38%. Use the drawdown chart below to compare losses from any high point for FBAOX and QBDSX.

Drawdown Indicators

	FBAOX	QBDSX	Difference
Max Drawdown Largest peak-to-trough decline	-12.61%	-18.38%	+5.77%
Max Drawdown (1Y) Largest decline over 1 year	-6.48%	-3.09%	-3.39%
Max Drawdown (3Y) Largest decline over 3 years	—	-3.76%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-7.40%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-18.38%	—
Current Drawdown Current decline from peak	-1.36%	-8.29%	+6.93%
Average Drawdown Average peak-to-trough decline	-1.43%	-6.86%	+5.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.45%	1.43%	+0.02%

Volatility

FBAOX vs. QBDSX - Volatility Comparison

Fidelity Advisor Balanced Fund Class A (FBAOX) has a higher volatility of 2.59% compared to Quantified Managed Income Fund (QBDSX) at 0.75%. This indicates that FBAOX's price experiences larger fluctuations and is considered to be riskier than QBDSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FBAOX	QBDSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.59%	0.75%	+1.84%
Volatility (6M) Calculated over the trailing 6-month period	7.74%	2.38%	+5.36%
Volatility (1Y) Calculated over the trailing 1-year period	9.50%	3.52%	+5.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.49%	4.31%	+7.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.49%	5.24%	+6.25%

FBAOX vs. QBDSX - Expense Ratio Comparison

FBAOX has a 0.76% expense ratio, which is lower than QBDSX's 1.31% expense ratio.

Dividends

FBAOX vs. QBDSX - Dividend Comparison

FBAOX's dividend yield for the trailing twelve months is around 4.57%, more than QBDSX's 4.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FBAOX Fidelity Advisor Balanced Fund Class A	4.57%	5.40%	6.01%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
QBDSX Quantified Managed Income Fund	4.49%	4.47%	3.98%	4.51%	0.54%	0.71%	0.87%	2.26%	2.04%	2.51%	1.00%	3.89%

Frequently Asked Questions

Can I hold both FBAOX and QBDSX in my portfolio?

FBAOX and QBDSX have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FBAOX or QBDSX?

FBAOX has higher volatility (2.59%) compared to QBDSX (0.75%). In terms of maximum drawdown, FBAOX dropped -12.61% vs QBDSX's -18.38%.

Which has better risk-adjusted returns?

FBAOX currently has the higher Sharpe Ratio (1.80 vs -0.03), 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.