FBKFX vs. ^GSPC
FBKFX (Fidelity Balanced K6 Fund) is Diversified Portfolio fund managed by Fidelity, while ^GSPC (S&P 500 Index) is an index. Over the past 5 years, FBKFX returned 9.91%/yr vs 12.39%/yr for ^GSPC. With a 0.98 correlation, they move nearly in lockstep.
Performance
FBKFX vs. ^GSPC - Performance Comparison
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Returns By Period
In the year-to-date period, FBKFX achieves a 10.12% return, which is significantly lower than ^GSPC's 10.79% return.
FBKFX
- 1D
- -0.47%
- 1M
- 2.98%
- YTD
- 10.12%
- 6M
- 10.39%
- 1Y
- 24.82%
- 3Y*
- 17.44%
- 5Y*
- 9.91%
- 10Y*
- —
^GSPC
- 1D
- 0.41%
- 1M
- 4.48%
- YTD
- 10.79%
- 6M
- 10.60%
- 1Y
- 27.02%
- 3Y*
- 21.07%
- 5Y*
- 12.39%
- 10Y*
- 13.65%
FBKFX vs. ^GSPC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
FBKFX Fidelity Balanced K6 Fund | 10.12% | 15.68% | 16.19% | 21.93% | -17.87% | 18.51% | 22.38% | 10.57% |
^GSPC S&P 500 Index | 10.79% | 16.39% | 23.31% | 24.23% | -19.44% | 26.89% | 16.26% | 11.91% |
Correlation
The correlation between FBKFX and ^GSPC 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 | 0.97 |
Correlation (All Time) Calculated using the full available price history since Jun 17, 2019 | 0.98 |
The correlation between FBKFX and ^GSPC has been stable across timeframes, ranging from 0.96 to 0.98 - a consistent structural relationship.
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Return for Risk
FBKFX vs. ^GSPC — Risk / Return Rank
FBKFX
^GSPC
FBKFX vs. ^GSPC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Balanced K6 Fund (FBKFX) and S&P 500 Index (^GSPC). 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.
| FBKFX | ^GSPC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.62 | ||
| Sortino ratioReturn per unit of downside risk | +0.97 | ||
| Omega ratioGain probability vs. loss probability | 1.55 | 1.41 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 3.85 | 2.98 | +0.87 |
| Martin ratioReturn relative to average drawdown | 18.58 | 13.78 | +4.80 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FBKFX | ^GSPC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.90 | 2.28 | +0.62 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.81 | 0.74 | +0.08 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.76 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.94 | 0.47 | +0.46 |
Drawdowns
FBKFX vs. ^GSPC - Drawdown Comparison
The maximum FBKFX drawdown since its inception was -26.58%, smaller than the maximum ^GSPC drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for FBKFX and ^GSPC.
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Drawdown Indicators
| FBKFX | ^GSPC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.58% | -56.78% | +30.20% |
Max Drawdown (1Y)Largest decline over 1 year | -6.61% | -9.10% | +2.49% |
Max Drawdown (3Y)Largest decline over 3 years | -12.88% | -18.90% | +6.02% |
Max Drawdown (5Y)Largest decline over 5 years | -22.64% | -25.43% | +2.79% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -0.47% | -0.33% | -0.14% |
Average DrawdownAverage peak-to-trough decline | -4.55% | -10.72% | +6.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.36% | 1.97% | -0.61% |
Volatility
FBKFX vs. ^GSPC - Volatility Comparison
The current volatility for Fidelity Balanced K6 Fund (FBKFX) is 2.70%, while S&P 500 Index (^GSPC) has a volatility of 2.88%. This indicates that FBKFX experiences smaller price fluctuations and is considered to be less risky than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FBKFX | ^GSPC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.70% | 2.88% | -0.18% |
Volatility (6M)Calculated over the trailing 6-month period | 6.99% | 9.00% | -2.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.76% | 11.89% | -3.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.26% | 16.90% | -4.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.17% | 18.06% | -3.89% |
Frequently Asked Questions
With a correlation of 0.97, FBKFX and ^GSPC 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.
^GSPC has higher volatility (2.88%) compared to FBKFX (2.70%). In terms of maximum drawdown, FBKFX dropped -26.58% vs ^GSPC's -56.78%.
FBKFX currently has the higher Sharpe Ratio (2.90 vs 2.28), 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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