FCASX vs. VTCLX

Last updated Jun 6, 2026

FCASX (Fidelity Advisor Asset Manager 70% Fund Class C) and VTCLX (Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares) are both mutual funds - FCASX is a Diversified Portfolio fund managed by BlackRock, while VTCLX is a Large Cap Blend Equities fund managed by BlackRock. Over the past 10 years, FCASX returned 9.00%/yr vs 15.38%/yr for VTCLX. With a 0.95 correlation, they move nearly in lockstep. FCASX charges 1.73%/yr vs 0.09%/yr for VTCLX.

Performance

FCASX vs. VTCLX - 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 Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares (VTCLX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with FCASX having a 11.02% return and VTCLX slightly higher at 11.03%. Over the past 10 years, FCASX has underperformed VTCLX with an annualized return of 9.00%, while VTCLX has yielded a comparatively higher 15.38% annualized return.

FCASX

• 1D: 0.24%
• 1M: 1.49%
• YTD: 11.02%
• 6M: 11.75%
• 1Y: 24.30%
• 3Y*: 15.20%
• 5Y*: 7.10%
• 10Y*: 9.00%

VTCLX

• 1D: 0.45%
• 1M: 3.02%
• YTD: 11.03%
• 6M: 10.64%
• 1Y: 28.54%
• 3Y*: 22.19%
• 5Y*: 13.20%
• 10Y*: 15.38%

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

FCASX vs. VTCLX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FCASX Fidelity Advisor Asset Manager 70% Fund Class C	11.02%	17.02%	9.64%	15.21%	-17.67%	12.74%	15.96%	21.50%	-8.63%	17.32%
VTCLX Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares	11.03%	17.44%	23.76%	26.62%	-19.07%	26.87%	21.08%	31.47%	-4.98%	22.40%

Correlation

The correlation between FCASX and VTCLX is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Oct 2, 2008	0.95

The correlation between FCASX and VTCLX has been stable across timeframes, ranging from 0.93 to 0.95 - a consistent structural relationship.

FCASX vs. VTCLX - Sectors Allocation Comparison

Sectors	FCASX	VTCLX
Technology	25.9%	33.9%
Financial Services	16.7%	11.9%
Industrials	13.3%	8.8%
Consumer Cyclical	9.3%	10.1%
Healthcare	8.9%	8.6%
Communication Services	7.7%	10.9%
Consumer Defensive	5.0%	4.9%
Basic Materials	4.6%	2.1%
Energy	3.8%	3.8%
Utilities	2.6%	2.7%
Real Estate	2.2%	2.0%

Return for Risk

FCASX vs. VTCLX — Risk / Return Rank

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

FCASX

FCASX Risk / Return Rank: 68
FCASX Sharpe Ratio Rank: 69
FCASX Sortino Ratio Rank: 67
FCASX Omega Ratio Rank: 67
FCASX Calmar Ratio Rank: 66
FCASX Martin Ratio Rank: 72

VTCLX

VTCLX Risk / Return Rank: 69
VTCLX Sharpe Ratio Rank: 68
VTCLX Sortino Ratio Rank: 62
VTCLX Omega Ratio Rank: 61
VTCLX Calmar Ratio Rank: 73
VTCLX Martin Ratio Rank: 83

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. VTCLX - 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 Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares (VTCLX). 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.

	FCASX	VTCLX	Difference
Sharpe ratio: Return per unit of total volatility	2.36	2.33	+0.02
Sortino ratio: Return per unit of downside risk	3.31	3.20	+0.11
Omega ratio: Gain probability vs. loss probability	1.44	1.42	+0.02
Calmar ratio: Return relative to maximum drawdown	3.02	3.19	-0.17
Martin ratio: Return relative to average drawdown	13.29	14.83	-1.54
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FCASX vs. VTCLX - Sharpe Ratio Comparison

The current FCASX Sharpe Ratio is 2.36, which is comparable to the VTCLX Sharpe Ratio of 2.33. The chart below compares the historical Sharpe Ratios of FCASX and VTCLX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FCASX	VTCLX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.36	2.33	+0.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.58	0.77	-0.19
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.71	0.84	-0.13
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	0.53	+0.05

Drawdowns

FCASX vs. VTCLX - Drawdown Comparison

The maximum FCASX drawdown since its inception was -31.48%, smaller than the maximum VTCLX drawdown of -55.18%. Use the drawdown chart below to compare losses from any high point for FCASX and VTCLX.

Drawdown Indicators

	FCASX	VTCLX	Difference
Max Drawdown Largest peak-to-trough decline	-31.48%	-55.18%	+23.70%
Max Drawdown (1Y) Largest decline over 1 year	-8.07%	-8.79%	+0.72%
Max Drawdown (3Y) Largest decline over 3 years	-12.91%	-19.01%	+6.10%
Max Drawdown (5Y) Largest decline over 5 years	-24.31%	-24.98%	+0.67%
Max Drawdown (10Y) Largest decline over 10 years	-27.25%	-34.56%	+7.31%
Current Drawdown Current decline from peak	-0.36%	-0.26%	-0.10%
Average Drawdown Average peak-to-trough decline	-4.82%	-7.56%	+2.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.83%	1.89%	-0.06%

Volatility

FCASX vs. VTCLX - Volatility Comparison

Fidelity Advisor Asset Manager 70% Fund Class C (FCASX) has a higher volatility of 3.31% compared to Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares (VTCLX) at 2.90%. This indicates that FCASX's price experiences larger fluctuations and is considered to be riskier than VTCLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCASX	VTCLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.31%	2.90%	+0.41%
Volatility (6M) Calculated over the trailing 6-month period	8.41%	9.11%	-0.70%
Volatility (1Y) Calculated over the trailing 1-year period	10.35%	12.03%	-1.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.26%	17.22%	-4.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.63%	18.27%	-5.64%

FCASX vs. VTCLX - Expense Ratio Comparison

FCASX has a 1.73% expense ratio, which is higher than VTCLX's 0.09% expense ratio.

Dividends

FCASX vs. VTCLX - Dividend Comparison

FCASX's dividend yield for the trailing twelve months is around 5.57%, more than VTCLX's 0.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FCASX Fidelity Advisor Asset Manager 70% Fund Class C	5.57%	6.18%	3.48%	0.65%	5.52%	1.62%	1.22%	4.03%	5.09%	2.76%	0.20%	4.47%
VTCLX Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares	0.85%	0.93%	1.04%	1.24%	1.47%	1.04%	1.32%	1.52%	1.83%	1.57%	1.76%	1.69%

Frequently Asked Questions

Can I hold both FCASX and VTCLX in my portfolio?

With a correlation of 0.94, FCASX and VTCLX 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.

Which is riskier, FCASX or VTCLX?

FCASX has higher volatility (3.31%) compared to VTCLX (2.90%). In terms of maximum drawdown, FCASX dropped -31.48% vs VTCLX's -55.18%.

Which has better risk-adjusted returns?

FCASX currently has the higher Sharpe Ratio (2.36 vs 2.33), 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.