FCASX vs. ASFYX

Last updated Jun 23, 2026

FCASX (Fidelity Advisor Asset Manager 70% Fund Class C) and ASFYX (AlphaSimplex Managed Futures Strategy Fund Class Y) are both mutual funds - FCASX is a Diversified Portfolio fund managed by BlackRock, while ASFYX is a Systematic Trend fund managed by BlackRock. Over the past 10 years, FCASX returned 9.16%/yr vs 2.59%/yr for ASFYX. At a 0.23 correlation, their price movements are largely independent. FCASX charges 1.73%/yr vs 1.47%/yr for ASFYX.

Performance

FCASX vs. ASFYX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Asset Manager 70% Fund Class C (FCASX) and AlphaSimplex Managed Futures Strategy Fund Class Y (ASFYX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with FCASX having a 11.45% return and ASFYX slightly lower at 11.24%. Over the past 10 years, FCASX has outperformed ASFYX with an annualized return of 9.16%, while ASFYX has yielded a comparatively lower 2.59% annualized return.

FCASX

• 1D: 1.21%
• 1M: 2.07%
• YTD: 11.45%
• 6M: 11.52%
• 1Y: 24.83%
• 3Y*: 14.52%
• 5Y*: 7.42%
• 10Y*: 9.16%

ASFYX

• 1D: 0.47%
• 1M: -3.04%
• YTD: 11.24%
• 6M: 10.85%
• 1Y: 23.30%
• 3Y*: -2.79%
• 5Y*: 3.10%
• 10Y*: 2.59%

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

FCASX vs. ASFYX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FCASX Fidelity Advisor Asset Manager 70% Fund Class C	11.45%	17.02%	9.64%	15.21%	-17.67%	12.74%	15.96%	21.50%	-8.63%	17.32%
ASFYX AlphaSimplex Managed Futures Strategy Fund Class Y	11.24%	-9.67%	-3.22%	-10.33%	35.67%	3.52%	13.59%	8.99%	-12.59%	6.78%

Correlation

The correlation between FCASX and ASFYX is 0.50, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.50
Correlation (3Y) Calculated over the trailing 3-year period	0.35
Correlation (5Y) Calculated over the trailing 5-year period	0.13
Correlation (10Y) Calculated over the trailing 10-year period	0.22
Correlation (All Time) Calculated using the full available price history since Aug 3, 2010	0.23

Over the past year, FCASX and ASFYX have become more correlated (0.50) than their long-term average of 0.23, meaning their price movements have been converging.

Return for Risk

FCASX vs. ASFYX — Risk / Return Rank

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

FCASX

FCASX Risk / Return Rank: 69
FCASX Sharpe Ratio Rank: 69
FCASX Sortino Ratio Rank: 66
FCASX Omega Ratio Rank: 68
FCASX Calmar Ratio Rank: 69
FCASX Martin Ratio Rank: 74

ASFYX

ASFYX Risk / Return Rank: 60
ASFYX Sharpe Ratio Rank: 49
ASFYX Sortino Ratio Rank: 43
ASFYX Omega Ratio Rank: 45
ASFYX Calmar Ratio Rank: 89
ASFYX Martin Ratio Rank: 76

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.

FCASX vs. ASFYX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Asset Manager 70% Fund Class C (FCASX) and AlphaSimplex Managed Futures Strategy Fund Class Y (ASFYX). 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.

	FCASX	ASFYX	Difference
Sharpe ratio: Return per unit of total volatility	2.22	1.90	+0.32
Sortino ratio: Return per unit of downside risk	3.08	2.53	+0.55
Omega ratio: Gain probability vs. loss probability	1.42	1.34	+0.08
Calmar ratio: Return relative to maximum drawdown	3.05	4.22	-1.16
Martin ratio: Return relative to average drawdown	13.13	13.32	-0.20

FCASX vs. ASFYX - Sharpe Ratio Comparison

The current FCASX Sharpe Ratio is 2.22, which is comparable to the ASFYX Sharpe Ratio of 1.90. The chart below compares the historical Sharpe Ratios of FCASX and ASFYX, 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

FCASX vs. ASFYX - Drawdown Comparison

The maximum FCASX drawdown since its inception was -31.48%, smaller than the maximum ASFYX drawdown of -36.43%. Use the drawdown chart below to compare losses from any high point for FCASX and ASFYX.

Drawdown Indicators

	FCASX	ASFYX	Difference
Max Drawdown Largest peak-to-trough decline	-31.48%	-36.43%	+4.95%
Max Drawdown (1Y) Largest decline over 1 year	-8.07%	-5.43%	-2.64%
Max Drawdown (3Y) Largest decline over 3 years	-12.91%	-30.32%	+17.41%
Max Drawdown (5Y) Largest decline over 5 years	-24.31%	-36.43%	+12.12%
Max Drawdown (10Y) Largest decline over 10 years	-27.25%	-36.43%	+9.18%
Current Drawdown Current decline from peak	0.00%	-21.07%	+21.07%
Average Drawdown Average peak-to-trough decline	-4.81%	-13.20%	+8.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.87%	1.71%	+0.16%

Volatility

FCASX vs. ASFYX - Volatility Comparison

Fidelity Advisor Asset Manager 70% Fund Class C (FCASX) has a higher volatility of 4.68% compared to AlphaSimplex Managed Futures Strategy Fund Class Y (ASFYX) at 3.67%. This indicates that FCASX's price experiences larger fluctuations and is considered to be riskier than ASFYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCASX	ASFYX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.68%	3.67%	+1.01%
Volatility (6M) Calculated over the trailing 6-month period	9.33%	9.86%	-0.53%
Volatility (1Y) Calculated over the trailing 1-year period	11.08%	12.03%	-0.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.40%	13.77%	-1.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.69%	12.73%	-0.04%

FCASX vs. ASFYX - Expense Ratio Comparison

FCASX has a 1.73% expense ratio, which is higher than ASFYX's 1.47% expense ratio.

Dividends

FCASX vs. ASFYX - Dividend Comparison

FCASX's dividend yield for the trailing twelve months is around 5.54%, more than ASFYX's 1.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ASFYX AlphaSimplex Managed Futures Strategy Fund Class Y	1.37%	1.52%	1.46%	0.99%	32.48%	6.07%	3.40%	5.51%	1.30%	0.07%	0.01%	5.06%
FCASX Fidelity Advisor Asset Manager 70% Fund Class C	5.54%	6.18%	3.48%	0.65%	5.52%	1.62%	1.22%	4.03%	5.09%	2.76%	0.20%	4.47%

Frequently Asked Questions

Can I hold both FCASX and ASFYX in my portfolio?

FCASX and ASFYX have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FCASX or ASFYX?

FCASX has higher volatility (4.68%) compared to ASFYX (3.67%). In terms of maximum drawdown, FCASX dropped -31.48% vs ASFYX's -36.43%.

Which has better risk-adjusted returns?

FCASX currently has the higher Sharpe Ratio (2.22 vs 1.90), 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.