FFAMX vs. VTMSX

Last updated Aug 1, 2026

FFAMX (Fidelity Advisor Asset Manager 50% Fund Class A) and VTMSX (Vanguard Tax-Managed Small-Cap Fund Admiral Shares) are both mutual funds - FFAMX 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, FFAMX returned 7.24%/yr vs 10.75%/yr for VTMSX. Their correlation of 0.83 means they have usually moved in the same direction. FFAMX charges 0.92%/yr vs 0.09%/yr for VTMSX.

Performance

FFAMX vs. VTMSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Asset Manager 50% Fund Class A (FFAMX) 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, FFAMX achieves a 7.02% return, which is significantly lower than VTMSX's 21.93% return. Over the past 10 years, FFAMX has underperformed VTMSX with an annualized return of 7.24%, while VTMSX has yielded a comparatively higher 10.75% annualized return.

FFAMX

• 1D: 1.22%
• 1M: -1.19%
• 6M: 4.61%
• YTD: 7.02%
• 1Y: 14.83%
• 3Y*: 11.01%
• 5Y*: 5.32%
• 10Y*: 7.24%
• ALL TIME*: 5.86%

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)
FFAMX Fidelity Advisor Asset Manager 50% Fund Class A	$0.00	$0.00	$0.00
VTMSX Vanguard Tax-Managed Small-Cap Fund Admiral Shares	$0.00	$0.00	$0.00

FFAMX vs. VTMSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FFAMX Fidelity Advisor Asset Manager 50% Fund Class A	7.02%	14.64%	8.14%	12.76%	-15.20%	9.54%	14.36%	17.91%	-5.68%	13.36%
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 FFAMX 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.	0.77
Correlation (5Y) Shows whether the relationship held over a longer period.	0.79
Correlation (10Y) Provides a long-term view across more market conditions.	0.77
Correlation (All Time) Calculated using the full available price history since Sep 1, 2005	0.83

The correlation between FFAMX and VTMSX has been stable across timeframes, ranging from 0.75 to 0.83 - a consistent structural relationship.

Return for Risk

FFAMX vs. VTMSX — Risk / Return Rank

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

FFAMX

FFAMX Risk / Return Rank: 66
FFAMX Sharpe Ratio Rank: 63
FFAMX Sortino Ratio Rank: 63
FFAMX Omega Ratio Rank: 64
FFAMX Calmar Ratio Rank: 66
FFAMX Martin Ratio Rank: 73

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.

FFAMX vs. VTMSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Asset Manager 50% Fund Class A (FFAMX) 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.

	FFAMX	VTMSX	Difference
Sharpe ratio: Return per unit of total volatility	1.60	1.87	-0.27
Sortino ratio: Return per unit of downside risk	2.29	2.77	-0.47
Omega ratio: Gain probability vs. loss probability	1.30	1.32	-0.03
Calmar ratio: Return relative to maximum drawdown	2.28	3.79	-1.50
Martin ratio: Return relative to average drawdown	9.29	12.88	-3.59

FFAMX vs. VTMSX - Sharpe Ratio Comparison

The current FFAMX Sharpe Ratio is 1.60, which is comparable to the VTMSX Sharpe Ratio of 1.87. The chart below compares the historical Sharpe Ratios of FFAMX 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

FFAMX vs. VTMSX - Drawdown Comparison

The maximum FFAMX drawdown since its inception was -38.01%, smaller than the maximum VTMSX drawdown of -57.84%. Use the drawdown chart below to compare losses from any high point for FFAMX and VTMSX.

Drawdown Indicators

	FFAMX	VTMSX	Difference
Max Drawdown Largest peak-to-trough decline	-38.01%	-57.84%	+19.83%
Max Drawdown (1Y) Largest decline over 1 year	-6.18%	-8.59%	+2.41%
Max Drawdown (3Y) Largest decline over 3 years	-9.33%	-27.93%	+18.60%
Max Drawdown (5Y) Largest decline over 5 years	-20.78%	-27.93%	+7.15%
Max Drawdown (10Y) Largest decline over 10 years	-21.31%	-43.88%	+22.57%
Current Drawdown Current decline from peak	-1.86%	-1.82%	-0.04%
Average Drawdown Average peak-to-trough decline	-4.46%	-8.88%	+4.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.51%	2.53%	-1.02%

Volatility

FFAMX vs. VTMSX - Volatility Comparison

The current volatility for Fidelity Advisor Asset Manager 50% Fund Class A (FFAMX) is 2.53%, while Vanguard Tax-Managed Small-Cap Fund Admiral Shares (VTMSX) has a volatility of 3.47%. This indicates that FFAMX experiences smaller price fluctuations and is considered to be less risky than VTMSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FFAMX	VTMSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.53%	3.47%	-0.94%
Volatility (6M) Calculated over the trailing 6-month period	7.49%	11.67%	-4.18%
Volatility (1Y) Calculated over the trailing 1-year period	8.79%	17.40%	-8.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.46%	21.32%	-11.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.33%	23.07%	-13.74%

FFAMX vs. VTMSX - Expense Ratio Comparison

FFAMX has a 0.92% expense ratio, which is higher than VTMSX's 0.09% expense ratio.

Dividends

FFAMX vs. VTMSX - Dividend Comparison

FFAMX's dividend yield for the trailing twelve months is around 6.27%, more than VTMSX's 1.19% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FFAMX Fidelity Advisor Asset Manager 50% Fund Class A	6.27%	7.33%	3.61%	1.91%	6.48%	2.64%	2.13%	3.94%	4.96%	3.67%	1.48%	5.45%
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 FFAMX and VTMSX in my portfolio?

FFAMX 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, FFAMX or VTMSX?

VTMSX has higher volatility (3.47%) compared to FFAMX (2.53%). In terms of maximum drawdown, FFAMX dropped -38.01% vs VTMSX's -57.84%.

Which has better risk-adjusted returns?

VTMSX currently has the higher Sharpe Ratio (1.87 vs 1.60), 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.