FEYAX vs. FAGAX

Last updated Jun 23, 2026

FEYAX (Fidelity Advisor Asset Manager 85% Fund Class A) and FAGAX (Fidelity Advisor Growth Opportunities Fund Class A) are both mutual funds - FEYAX is a Diversified Portfolio fund managed by BlackRock, while FAGAX is a Large Cap Growth Equities fund actively managed by Fidelity. Over the past 10 years, FEYAX returned 11.58%/yr vs 22.43%/yr for FAGAX. Their correlation of 0.89 suggests significant overlap in exposure. FEYAX charges 1.00%/yr vs 0.96%/yr for FAGAX.

Performance

FEYAX vs. FAGAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Asset Manager 85% Fund Class A (FEYAX) and Fidelity Advisor Growth Opportunities Fund Class A (FAGAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FEYAX achieves a 14.13% return, which is significantly lower than FAGAX's 16.55% return. Over the past 10 years, FEYAX has underperformed FAGAX with an annualized return of 11.58%, while FAGAX has yielded a comparatively higher 22.43% annualized return.

FEYAX

• 1D: 1.43%
• 1M: 2.47%
• YTD: 14.13%
• 6M: 14.20%
• 1Y: 30.47%
• 3Y*: 17.83%
• 5Y*: 9.77%
• 10Y*: 11.58%

FAGAX

• 1D: 2.25%
• 1M: 3.98%
• YTD: 16.55%
• 6M: 16.20%
• 1Y: 38.06%
• 3Y*: 30.48%
• 5Y*: 12.45%
• 10Y*: 22.43%

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

FEYAX vs. FAGAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FEYAX Fidelity Advisor Asset Manager 85% Fund Class A	14.13%	20.45%	12.32%	18.67%	-18.82%	16.79%	18.99%	25.83%	-9.46%	20.98%
FAGAX Fidelity Advisor Growth Opportunities Fund Class A	16.55%	22.17%	38.71%	45.14%	-38.40%	11.31%	68.60%	40.26%	14.87%	34.66%

Correlation

The correlation between FEYAX and FAGAX is 0.85, 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	0.85
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (10Y) Calculated over the trailing 10-year period	0.88
Correlation (All Time) Calculated using the full available price history since Sep 1, 2005	0.89

The correlation between FEYAX and FAGAX has been stable across timeframes, ranging from 0.85 to 0.89 - a consistent structural relationship.

Return for Risk

FEYAX vs. FAGAX — Risk / Return Rank

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

FEYAX

FEYAX Risk / Return Rank: 74
FEYAX Sharpe Ratio Rank: 74
FEYAX Sortino Ratio Rank: 69
FEYAX Omega Ratio Rank: 71
FEYAX Calmar Ratio Rank: 75
FEYAX Martin Ratio Rank: 81

FAGAX

FAGAX Risk / Return Rank: 44
FAGAX Sharpe Ratio Rank: 51
FAGAX Sortino Ratio Rank: 43
FAGAX Omega Ratio Rank: 45
FAGAX Calmar Ratio Rank: 42
FAGAX Martin Ratio Rank: 43

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.

FEYAX vs. FAGAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Asset Manager 85% Fund Class A (FEYAX) and Fidelity Advisor Growth Opportunities Fund Class A (FAGAX). 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.

	FEYAX	FAGAX	Difference
Sharpe ratio: Return per unit of total volatility	2.31	1.93	+0.38
Sortino ratio: Return per unit of downside risk	3.14	2.53	+0.61
Omega ratio: Gain probability vs. loss probability	1.43	1.33	+0.09
Calmar ratio: Return relative to maximum drawdown	3.23	2.34	+0.88
Martin ratio: Return relative to average drawdown	13.97	8.61	+5.36

FEYAX vs. FAGAX - Sharpe Ratio Comparison

The current FEYAX Sharpe Ratio is 2.31, which is comparable to the FAGAX Sharpe Ratio of 1.93. The chart below compares the historical Sharpe Ratios of FEYAX and FAGAX, 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

FEYAX vs. FAGAX - Drawdown Comparison

The maximum FEYAX drawdown since its inception was -52.90%, smaller than the maximum FAGAX drawdown of -65.24%. Use the drawdown chart below to compare losses from any high point for FEYAX and FAGAX.

Drawdown Indicators

	FEYAX	FAGAX	Difference
Max Drawdown Largest peak-to-trough decline	-52.90%	-65.24%	+12.34%
Max Drawdown (1Y) Largest decline over 1 year	-9.37%	-16.19%	+6.82%
Max Drawdown (3Y) Largest decline over 3 years	-15.40%	-26.62%	+11.22%
Max Drawdown (5Y) Largest decline over 5 years	-26.20%	-44.70%	+18.50%
Max Drawdown (10Y) Largest decline over 10 years	-31.01%	-44.70%	+13.69%
Current Drawdown Current decline from peak	0.00%	-0.22%	+0.22%
Average Drawdown Average peak-to-trough decline	-7.27%	-15.18%	+7.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.16%	4.40%	-2.24%

Volatility

FEYAX vs. FAGAX - Volatility Comparison

The current volatility for Fidelity Advisor Asset Manager 85% Fund Class A (FEYAX) is 5.49%, while Fidelity Advisor Growth Opportunities Fund Class A (FAGAX) has a volatility of 8.27%. This indicates that FEYAX experiences smaller price fluctuations and is considered to be less risky than FAGAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FEYAX	FAGAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.49%	8.27%	-2.78%
Volatility (6M) Calculated over the trailing 6-month period	11.02%	15.94%	-4.92%
Volatility (1Y) Calculated over the trailing 1-year period	13.10%	19.66%	-6.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.80%	25.03%	-10.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.33%	24.00%	-8.67%

FEYAX vs. FAGAX - Expense Ratio Comparison

FEYAX has a 1.00% expense ratio, which is higher than FAGAX's 0.96% expense ratio.

Dividends

FEYAX vs. FAGAX - Dividend Comparison

FEYAX's dividend yield for the trailing twelve months is around 4.69%, more than FAGAX's 3.52% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FAGAX Fidelity Advisor Growth Opportunities Fund Class A	3.52%	4.11%	0.00%	0.00%	0.00%	10.19%	5.45%	4.10%	11.99%	7.67%	15.44%	11.12%
FEYAX Fidelity Advisor Asset Manager 85% Fund Class A	4.69%	5.35%	3.19%	1.10%	4.85%	2.95%	1.75%	5.30%	5.34%	2.33%	0.29%	4.55%

Frequently Asked Questions

Can I hold both FEYAX and FAGAX in my portfolio?

FEYAX and FAGAX have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FEYAX or FAGAX?

FAGAX has higher volatility (8.27%) compared to FEYAX (5.49%). In terms of maximum drawdown, FEYAX dropped -52.90% vs FAGAX's -65.24%.

Which has better risk-adjusted returns?

FEYAX currently has the higher Sharpe Ratio (2.31 vs 1.93), 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.