FCASX vs. VTMSX

Last updated Aug 2, 2026

FCASX (Fidelity Advisor Asset Manager 70% Fund Class C) and VTMSX (Vanguard Tax-Managed Small-Cap Fund Admiral Shares) are both mutual funds - FCASX is a Diversified Portfolio fund managed by BlackRock, while VTMSX is a Small Cap Blend Equities fund managed by BlackRock. Over the past 10 years, FCASX returned 8.66%/yr vs 10.75%/yr for VTMSX. Their correlation of 0.84 means they have usually moved in the same direction. FCASX charges 1.73%/yr vs 0.09%/yr for VTMSX.

Performance

FCASX vs. VTMSX - 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 Small-Cap Fund Admiral Shares (VTMSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FCASX achieves a 9.59% return, which is significantly lower than VTMSX's 21.93% return. Over the past 10 years, FCASX has underperformed VTMSX with an annualized return of 8.66%, while VTMSX has yielded a comparatively higher 10.75% annualized return.

FCASX

• 1D: 1.70%
• 1M: -0.78%
• 6M: 6.47%
• YTD: 9.59%
• 1Y: 19.31%
• 3Y*: 13.08%
• 5Y*: 6.50%
• 10Y*: 8.66%
• ALL TIME*: 7.99%

VTMSX

• 1D: 0.86%
• 1M: -0.56%
• 6M: 15.49%
• YTD: 21.93%
• 1Y: 36.13%
• 3Y*: 13.30%
• 5Y*: 7.52%
• 10Y*: 10.75%
• ALL TIME*: 10.61%

*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)
FCASX Fidelity Advisor Asset Manager 70% Fund Class C	$0.00	$0.00	$0.00
VTMSX Vanguard Tax-Managed Small-Cap Fund Admiral Shares	$0.00	$0.00	$0.00

FCASX vs. VTMSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FCASX Fidelity Advisor Asset Manager 70% Fund Class C	9.59%	17.02%	9.64%	15.21%	-17.67%	12.74%	15.96%	21.50%	-8.63%	17.32%
VTMSX Vanguard Tax-Managed Small-Cap Fund Admiral Shares	21.93%	5.93%	8.61%	15.95%	-16.16%	27.08%	11.05%	23.28%	-8.62%	13.05%

Correlation

The correlation between FCASX and VTMSX is 0.75, 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.	0.75
Correlation (3Y) Balances recent behavior with more history.	0.78
Correlation (5Y) Shows whether the relationship held over a longer period.	0.82
Correlation (10Y) Provides a long-term view across more market conditions.	0.80
Correlation (All Time) Calculated using the full available price history since Oct 1, 2008	0.84

The correlation between FCASX and VTMSX has been stable across timeframes, ranging from 0.75 to 0.84 - a consistent structural relationship.

Return for Risk

FCASX vs. VTMSX — Risk / Return Rank

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

FCASX

FCASX Risk / Return Rank: 63
FCASX Sharpe Ratio Rank: 60
FCASX Sortino Ratio Rank: 58
FCASX Omega Ratio Rank: 59
FCASX Calmar Ratio Rank: 63
FCASX Martin Ratio Rank: 74

VTMSX

VTMSX Risk / Return Rank: 84
VTMSX Sharpe Ratio Rank: 80
VTMSX Sortino Ratio Rank: 81
VTMSX Omega Ratio Rank: 76
VTMSX Calmar Ratio Rank: 93
VTMSX Martin Ratio Rank: 92

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.

FCASX vs. VTMSX - 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 Small-Cap Fund Admiral Shares (VTMSX). 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	VTMSX	Difference
Sharpe ratio: Return per unit of total volatility	1.55	1.87	-0.32
Sortino ratio: Return per unit of downside risk	2.20	2.77	-0.57
Omega ratio: Gain probability vs. loss probability	1.28	1.32	-0.04
Calmar ratio: Return relative to maximum drawdown	2.22	3.79	-1.56
Martin ratio: Return relative to average drawdown	9.31	12.88	-3.57

FCASX vs. VTMSX - Sharpe Ratio Comparison

The current FCASX Sharpe Ratio is 1.55, which is comparable to the VTMSX Sharpe Ratio of 1.87. The chart below compares the historical Sharpe Ratios of FCASX and VTMSX, 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. VTMSX - Drawdown Comparison

The maximum FCASX drawdown since its inception was -31.48%, smaller than the maximum VTMSX drawdown of -57.84%. Use the drawdown chart below to compare losses from any high point for FCASX and VTMSX.

Drawdown Indicators

	FCASX	VTMSX	Difference
Max Drawdown Largest peak-to-trough decline	-31.48%	-57.84%	+26.36%
Max Drawdown (1Y) Largest decline over 1 year	-8.07%	-8.59%	+0.52%
Max Drawdown (3Y) Largest decline over 3 years	-12.91%	-27.93%	+15.02%
Max Drawdown (5Y) Largest decline over 5 years	-24.31%	-27.93%	+3.62%
Max Drawdown (10Y) Largest decline over 10 years	-27.25%	-43.88%	+16.63%
Current Drawdown Current decline from peak	-1.67%	-1.82%	+0.15%
Average Drawdown Average peak-to-trough decline	-4.79%	-8.88%	+4.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.92%	2.53%	-0.61%

Volatility

FCASX vs. VTMSX - Volatility Comparison

Fidelity Advisor Asset Manager 70% Fund Class C (FCASX) and Vanguard Tax-Managed Small-Cap Fund Admiral Shares (VTMSX) have volatilities of 3.32% and 3.47%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCASX	VTMSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.32%	3.47%	-0.15%
Volatility (6M) Calculated over the trailing 6-month period	9.76%	11.67%	-1.91%
Volatility (1Y) Calculated over the trailing 1-year period	11.54%	17.40%	-5.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.46%	21.32%	-8.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.66%	23.07%	-10.41%

FCASX vs. VTMSX - Expense Ratio Comparison

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

Dividends

FCASX vs. VTMSX - Dividend Comparison

FCASX's dividend yield for the trailing twelve months is around 5.64%, more than VTMSX's 1.19% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FCASX Fidelity Advisor Asset Manager 70% Fund Class C	5.64%	6.18%	3.48%	0.65%	5.52%	1.62%	1.22%	4.03%	5.09%	2.76%	0.20%	4.47%
VTMSX Vanguard Tax-Managed Small-Cap Fund Admiral Shares	1.19%	1.28%	1.44%	1.50%	1.51%	1.16%	1.09%	1.15%	1.26%	1.11%	1.01%	1.26%

Frequently Asked Questions

Can I hold both FCASX and VTMSX in my portfolio?

FCASX and VTMSX have a correlation of 0.75, 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 VTMSX?

VTMSX has higher volatility (3.47%) compared to FCASX (3.32%). In terms of maximum drawdown, FCASX dropped -31.48% vs VTMSX's -57.84%.

Which has better risk-adjusted returns?

VTMSX currently has the higher Sharpe Ratio (1.87 vs 1.55), 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.