FEYAX vs. RPFCX

Last updated Aug 2, 2026

FEYAX (Fidelity Advisor Asset Manager 85% Fund Class A) and RPFCX (Davis Appreciation & Income Fund) are both Diversified Portfolio funds. Over the past 10 years, FEYAX returned 11.00%/yr vs 10.69%/yr for RPFCX. Their correlation of 0.88 means they have usually moved in the same direction. Both charge a 1.00% expense ratio.

Performance

FEYAX vs. RPFCX - 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 Davis Appreciation & Income Fund (RPFCX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FEYAX achieves a 12.06% return, which is significantly lower than RPFCX's 14.17% return. Both investments have delivered pretty close results over the past 10 years, with FEYAX having a 11.00% annualized return and RPFCX not far behind at 10.69%.

FEYAX

• 1D: 2.04%
• 1M: -0.77%
• 6M: 8.21%
• YTD: 12.06%
• 1Y: 24.00%
• 3Y*: 16.08%
• 5Y*: 8.69%
• 10Y*: 11.00%
• ALL TIME*: 8.24%

RPFCX

• 1D: 0.24%
• 1M: 1.63%
• 6M: 11.35%
• YTD: 14.17%
• 1Y: 29.00%
• 3Y*: 16.53%
• 5Y*: 10.09%
• 10Y*: 10.69%
• ALL TIME*: 8.48%

*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)
FEYAX Fidelity Advisor Asset Manager 85% Fund Class A	$0.00	$0.00	$0.00
RPFCX Davis Appreciation & Income Fund	$0.00	$0.00	$0.00

FEYAX vs. RPFCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FEYAX Fidelity Advisor Asset Manager 85% Fund Class A	12.06%	20.45%	12.32%	18.67%	-18.82%	16.79%	18.99%	25.83%	-9.46%	20.98%
RPFCX Davis Appreciation & Income Fund	14.17%	20.90%	9.10%	23.00%	-15.65%	25.74%	4.74%	20.33%	-8.02%	16.35%

Correlation

The correlation between FEYAX and RPFCX is 0.68, 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.	0.68
Correlation (3Y) Balances recent behavior with more history.	0.78
Correlation (5Y) Shows whether the relationship held over a longer period.	0.84
Correlation (10Y) Provides a long-term view across more market conditions.	0.86
Correlation (All Time) Calculated using the full available price history since Sep 1, 2005	0.88

The correlation between FEYAX and RPFCX shifts across timeframes, from 0.68 (1 year) to 0.88 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FEYAX vs. RPFCX — Risk / Return Rank

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

FEYAX

FEYAX Risk / Return Rank: 69
FEYAX Sharpe Ratio Rank: 67
FEYAX Sortino Ratio Rank: 64
FEYAX Omega Ratio Rank: 64
FEYAX Calmar Ratio Rank: 71
FEYAX Martin Ratio Rank: 80

RPFCX

RPFCX Risk / Return Rank: 95
RPFCX Sharpe Ratio Rank: 98
RPFCX Sortino Ratio Rank: 96
RPFCX Omega Ratio Rank: 93
RPFCX Calmar Ratio Rank: 94
RPFCX Martin Ratio Rank: 95

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.

FEYAX vs. RPFCX - 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 Davis Appreciation & Income Fund (RPFCX). 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	RPFCX	Difference
Sharpe ratio: Return per unit of total volatility	1.62	2.98	-1.36
Sortino ratio: Return per unit of downside risk	2.27	4.27	-2.00
Omega ratio: Gain probability vs. loss probability	1.29	1.54	-0.25
Calmar ratio: Return relative to maximum drawdown	2.36	3.99	-1.63
Martin ratio: Return relative to average drawdown	9.96	15.92	-5.96

FEYAX vs. RPFCX - Sharpe Ratio Comparison

The current FEYAX Sharpe Ratio is 1.62, which is lower than the RPFCX Sharpe Ratio of 2.98. The chart below compares the historical Sharpe Ratios of FEYAX and RPFCX, 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. RPFCX - Drawdown Comparison

The maximum FEYAX drawdown since its inception was -52.90%, smaller than the maximum RPFCX drawdown of -56.39%. Use the drawdown chart below to compare losses from any high point for FEYAX and RPFCX.

Drawdown Indicators

	FEYAX	RPFCX	Difference
Max Drawdown Largest peak-to-trough decline	-52.90%	-56.39%	+3.49%
Max Drawdown (1Y) Largest decline over 1 year	-9.37%	-6.76%	-2.61%
Max Drawdown (3Y) Largest decline over 3 years	-15.40%	-14.82%	-0.58%
Max Drawdown (5Y) Largest decline over 5 years	-26.20%	-25.63%	-0.57%
Max Drawdown (10Y) Largest decline over 10 years	-31.01%	-30.72%	-0.29%
Current Drawdown Current decline from peak	-1.85%	-0.39%	-1.46%
Average Drawdown Average peak-to-trough decline	-7.24%	-7.40%	+0.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.22%	1.70%	+0.52%

Volatility

FEYAX vs. RPFCX - Volatility Comparison

Fidelity Advisor Asset Manager 85% Fund Class A (FEYAX) has a higher volatility of 3.92% compared to Davis Appreciation & Income Fund (RPFCX) at 2.02%. This indicates that FEYAX's price experiences larger fluctuations and is considered to be riskier than RPFCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FEYAX	RPFCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.92%	2.02%	+1.90%
Volatility (6M) Calculated over the trailing 6-month period	11.55%	6.74%	+4.81%
Volatility (1Y) Calculated over the trailing 1-year period	13.67%	9.05%	+4.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.87%	14.04%	+0.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.30%	14.75%	+0.55%

FEYAX vs. RPFCX - Expense Ratio Comparison

Both FEYAX and RPFCX have an expense ratio of 1.00%.

Dividends

FEYAX vs. RPFCX - Dividend Comparison

FEYAX's dividend yield for the trailing twelve months is around 4.77%, less than RPFCX's 5.67% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FEYAX Fidelity Advisor Asset Manager 85% Fund Class A	4.77%	5.35%	3.19%	1.10%	4.85%	2.95%	1.75%	5.30%	5.34%	2.33%	0.29%	4.55%
RPFCX Davis Appreciation & Income Fund	5.67%	6.09%	1.11%	2.91%	2.63%	0.28%	0.78%	2.03%	1.09%	0.83%	1.09%	1.19%

Frequently Asked Questions

Can I hold both FEYAX and RPFCX in my portfolio?

FEYAX and RPFCX have a correlation of 0.68, 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 RPFCX?

FEYAX has higher volatility (3.92%) compared to RPFCX (2.02%). In terms of maximum drawdown, FEYAX dropped -52.90% vs RPFCX's -56.39%.

Which has better risk-adjusted returns?

RPFCX currently has the higher Sharpe Ratio (2.98 vs 1.62), 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.