FEYIX vs. AOA

Last updated Jun 4, 2026

FEYIX (Fidelity Advisor Asset Manager 85% Fund Class I) and AOA (iShares Core Aggressive Allocation ETF) are both Diversified Portfolio funds. Over the past 10 years, FEYIX returned 11.71%/yr vs 10.56%/yr for AOA. With a 0.95 correlation, they move nearly in lockstep. FEYIX charges 0.73%/yr vs 0.25%/yr for AOA.

Performance

FEYIX vs. AOA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Asset Manager 85% Fund Class I (FEYIX) and iShares Core Aggressive Allocation ETF (AOA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FEYIX achieves a 14.13% return, which is significantly higher than AOA's 9.93% return. Over the past 10 years, FEYIX has outperformed AOA with an annualized return of 11.71%, while AOA has yielded a comparatively lower 10.56% annualized return.

FEYIX

• 1D: 0.58%
• 1M: 5.23%
• YTD: 14.13%
• 6M: 15.32%
• 1Y: 31.05%
• 3Y*: 19.04%
• 5Y*: 9.92%
• 10Y*: 11.71%

AOA

• 1D: -0.50%
• 1M: 4.14%
• YTD: 9.93%
• 6M: 10.64%
• 1Y: 24.29%
• 3Y*: 17.52%
• 5Y*: 9.15%
• 10Y*: 10.56%

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

FEYIX vs. AOA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FEYIX Fidelity Advisor Asset Manager 85% Fund Class I	14.13%	20.79%	12.54%	19.01%	-18.58%	17.07%	19.27%	26.25%	-9.28%	21.07%
AOA iShares Core Aggressive Allocation ETF	9.93%	19.59%	13.55%	18.27%	-16.23%	15.42%	12.82%	22.60%	-7.86%	20.05%

Correlation

The correlation between FEYIX and AOA is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.97
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (5Y) Calculated over the trailing 5-year period	0.98
Correlation (10Y) Calculated over the trailing 10-year period	0.97
Correlation (All Time) Calculated using the full available price history since Nov 12, 2008	0.95

The correlation between FEYIX and AOA has been stable across timeframes, ranging from 0.95 to 0.98 - a consistent structural relationship.

Return for Risk

FEYIX vs. AOA — Risk / Return Rank

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

FEYIX

FEYIX Risk / Return Rank: 75
FEYIX Sharpe Ratio Rank: 78
FEYIX Sortino Ratio Rank: 71
FEYIX Omega Ratio Rank: 71
FEYIX Calmar Ratio Rank: 74
FEYIX Martin Ratio Rank: 80

AOA

AOA Risk / Return Rank: 67
AOA Sharpe Ratio Rank: 68
AOA Sortino Ratio Rank: 69
AOA Omega Ratio Rank: 69
AOA Calmar Ratio Rank: 59
AOA Martin Ratio Rank: 70

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.

FEYIX vs. AOA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Asset Manager 85% Fund Class I (FEYIX) and iShares Core Aggressive Allocation ETF (AOA). 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.

	FEYIX	AOA	Difference
Sharpe ratio: Return per unit of total volatility	2.58	2.30	+0.28
Sortino ratio: Return per unit of downside risk	3.53	3.23	+0.30
Omega ratio: Gain probability vs. loss probability	1.47	1.43	+0.05
Calmar ratio: Return relative to maximum drawdown	3.37	2.98	+0.40
Martin ratio: Return relative to average drawdown	15.00	13.20	+1.80
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FEYIX vs. AOA - Sharpe Ratio Comparison

The current FEYIX Sharpe Ratio is 2.58, which is comparable to the AOA Sharpe Ratio of 2.30. The chart below compares the historical Sharpe Ratios of FEYIX and AOA, 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

	FEYIX	AOA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.58	2.30	+0.28
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.68	0.71	-0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.77	0.78	-0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	0.69	-0.17

Drawdowns

FEYIX vs. AOA - Drawdown Comparison

The maximum FEYIX drawdown since its inception was -52.68%, which is greater than AOA's maximum drawdown of -28.38%. Use the drawdown chart below to compare losses from any high point for FEYIX and AOA.

Drawdown Indicators

	FEYIX	AOA	Difference
Max Drawdown Largest peak-to-trough decline	-52.68%	-28.38%	-24.30%
Max Drawdown (1Y) Largest decline over 1 year	-9.34%	-8.20%	-1.14%
Max Drawdown (3Y) Largest decline over 3 years	-15.37%	-12.94%	-2.43%
Max Drawdown (5Y) Largest decline over 5 years	-26.00%	-23.62%	-2.38%
Max Drawdown (10Y) Largest decline over 10 years	-30.94%	-28.38%	-2.56%
Current Drawdown Current decline from peak	0.00%	-0.50%	+0.50%
Average Drawdown Average peak-to-trough decline	-7.13%	-4.05%	-3.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.10%	1.84%	+0.26%

Volatility

FEYIX vs. AOA - Volatility Comparison

Fidelity Advisor Asset Manager 85% Fund Class I (FEYIX) has a higher volatility of 3.80% compared to iShares Core Aggressive Allocation ETF (AOA) at 3.25%. This indicates that FEYIX's price experiences larger fluctuations and is considered to be riskier than AOA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FEYIX	AOA	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.80%	3.25%	+0.55%
Volatility (6M) Calculated over the trailing 6-month period	9.94%	8.51%	+1.43%
Volatility (1Y) Calculated over the trailing 1-year period	12.25%	10.63%	+1.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.63%	12.98%	+1.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.25%	13.55%	+1.70%

FEYIX vs. AOA - Expense Ratio Comparison

FEYIX has a 0.73% expense ratio, which is higher than AOA's 0.25% expense ratio.

Dividends

FEYIX vs. AOA - Dividend Comparison

FEYIX's dividend yield for the trailing twelve months is around 4.90%, more than AOA's 2.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AOA iShares Core Aggressive Allocation ETF	2.04%	2.18%	2.30%	2.22%	2.10%	1.67%	1.71%	2.50%	2.37%	5.09%	2.26%	2.15%
FEYIX Fidelity Advisor Asset Manager 85% Fund Class I	4.90%	5.59%	3.44%	1.31%	5.07%	3.17%	1.96%	5.47%	5.53%	2.32%	0.29%	4.81%

Frequently Asked Questions

Can I hold both FEYIX and AOA in my portfolio?

With a correlation of 0.97, FEYIX and AOA 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, FEYIX or AOA?

FEYIX has higher volatility (3.80%) compared to AOA (3.25%). In terms of maximum drawdown, FEYIX dropped -52.68% vs AOA's -28.38%.

Which has better risk-adjusted returns?

FEYIX currently has the higher Sharpe Ratio (2.58 vs 2.30), 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.