FFANX vs. AOR

Last updated Jun 5, 2026

FFANX (Fidelity Asset Manager 40% Fund) and AOR (iShares Core 60/40 Balanced Allocation ETF) are both Diversified Portfolio funds. Over the past 10 years, FFANX returned 6.82%/yr vs 8.40%/yr for AOR. Their correlation of 0.92 suggests significant overlap in exposure. FFANX charges 0.52%/yr vs 0.15%/yr for AOR.

Performance

FFANX vs. AOR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Asset Manager 40% Fund (FFANX) and iShares Core 60/40 Balanced Allocation ETF (AOR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FFANX achieves a 7.09% return, which is significantly lower than AOR's 7.65% return. Over the past 10 years, FFANX has underperformed AOR with an annualized return of 6.82%, while AOR has yielded a comparatively higher 8.40% annualized return.

FFANX

• 1D: -0.40%
• 1M: 1.83%
• YTD: 7.09%
• 6M: 7.62%
• 1Y: 16.64%
• 3Y*: 11.25%
• 5Y*: 5.34%
• 10Y*: 6.82%

AOR

• 1D: 0.24%
• 1M: 2.53%
• YTD: 7.65%
• 6M: 8.14%
• 1Y: 19.12%
• 3Y*: 14.39%
• 5Y*: 7.00%
• 10Y*: 8.40%

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

FFANX vs. AOR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FFANX Fidelity Asset Manager 40% Fund	7.09%	13.16%	7.40%	11.52%	-13.62%	8.03%	13.10%	15.81%	-4.06%	11.25%
AOR iShares Core 60/40 Balanced Allocation ETF	7.65%	16.44%	10.68%	15.75%	-15.64%	11.19%	11.42%	18.91%	-5.82%	15.80%

Correlation

The correlation between FFANX and AOR 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	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (10Y) Calculated over the trailing 10-year period	0.94
Correlation (All Time) Calculated using the full available price history since Nov 12, 2008	0.92

The correlation between FFANX and AOR has been stable across timeframes, ranging from 0.92 to 0.97 - a consistent structural relationship.

FFANX vs. AOR - Sectors Allocation Comparison

Sectors	FFANX	AOR
Technology	26.1%	27.8%
Financial Services	16.5%	16.2%
Industrials	13.2%	11.9%
Consumer Cyclical	9.3%	9.5%
Healthcare	8.9%	8.0%
Communication Services	7.8%	8.1%
Consumer Defensive	5.0%	5.0%
Basic Materials	4.5%	4.2%
Energy	3.8%	4.3%
Utilities	2.6%	2.7%
Real Estate	2.3%	2.4%

Return for Risk

FFANX vs. AOR — Risk / Return Rank

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

FFANX

FFANX Risk / Return Rank: 77
FFANX Sharpe Ratio Rank: 79
FFANX Sortino Ratio Rank: 78
FFANX Omega Ratio Rank: 77
FFANX Calmar Ratio Rank: 73
FFANX Martin Ratio Rank: 77

AOR

AOR Risk / Return Rank: 69
AOR Sharpe Ratio Rank: 71
AOR Sortino Ratio Rank: 73
AOR Omega Ratio Rank: 72
AOR Calmar Ratio Rank: 59
AOR Martin Ratio Rank: 69

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.

FFANX vs. AOR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Asset Manager 40% Fund (FFANX) and iShares Core 60/40 Balanced Allocation ETF (AOR). 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.

	FFANX	AOR	Difference
Sharpe ratio: Return per unit of total volatility	2.61	2.28	+0.33
Sortino ratio: Return per unit of downside risk	3.79	3.26	+0.53
Omega ratio: Gain probability vs. loss probability	1.51	1.43	+0.08
Calmar ratio: Return relative to maximum drawdown	3.31	2.89	+0.42
Martin ratio: Return relative to average drawdown	14.45	12.64	+1.81
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FFANX vs. AOR - Sharpe Ratio Comparison

The current FFANX Sharpe Ratio is 2.61, which is comparable to the AOR Sharpe Ratio of 2.28. The chart below compares the historical Sharpe Ratios of FFANX and AOR, 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

	FFANX	AOR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.61	2.28	+0.33
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.68	0.67	+0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.89	0.79	+0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.67	0.69	-0.02

Drawdowns

FFANX vs. AOR - Drawdown Comparison

The maximum FFANX drawdown since its inception was -31.69%, which is greater than AOR's maximum drawdown of -24.44%. Use the drawdown chart below to compare losses from any high point for FFANX and AOR.

Drawdown Indicators

	FFANX	AOR	Difference
Max Drawdown Largest peak-to-trough decline	-31.69%	-24.44%	-7.25%
Max Drawdown (1Y) Largest decline over 1 year	-5.20%	-6.64%	+1.44%
Max Drawdown (3Y) Largest decline over 3 years	-7.55%	-9.77%	+2.22%
Max Drawdown (5Y) Largest decline over 5 years	-18.52%	-21.72%	+3.20%
Max Drawdown (10Y) Largest decline over 10 years	-18.52%	-22.95%	+4.43%
Current Drawdown Current decline from peak	-0.40%	-0.29%	-0.11%
Average Drawdown Average peak-to-trough decline	-3.80%	-3.47%	-0.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.19%	1.52%	-0.33%

Volatility

FFANX vs. AOR - Volatility Comparison

The current volatility for Fidelity Asset Manager 40% Fund (FFANX) is 2.32%, while iShares Core 60/40 Balanced Allocation ETF (AOR) has a volatility of 2.66%. This indicates that FFANX experiences smaller price fluctuations and is considered to be less risky than AOR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FFANX	AOR	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.32%	2.66%	-0.34%
Volatility (6M) Calculated over the trailing 6-month period	5.46%	6.81%	-1.35%
Volatility (1Y) Calculated over the trailing 1-year period	6.61%	8.42%	-1.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.86%	10.55%	-2.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.70%	10.67%	-2.97%

FFANX vs. AOR - Expense Ratio Comparison

FFANX has a 0.52% expense ratio, which is higher than AOR's 0.15% expense ratio.

Dividends

FFANX vs. AOR - Dividend Comparison

FFANX's dividend yield for the trailing twelve months is around 3.66%, more than AOR's 2.46% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AOR iShares Core 60/40 Balanced Allocation ETF	2.46%	2.55%	2.66%	2.50%	2.12%	1.64%	1.89%	2.56%	2.49%	4.51%	2.16%	2.12%
FFANX Fidelity Asset Manager 40% Fund	3.66%	3.97%	2.81%	2.49%	5.75%	2.35%	2.36%	3.67%	4.56%	2.56%	1.43%	3.18%

Frequently Asked Questions

Can I hold both FFANX and AOR in my portfolio?

With a correlation of 0.97, FFANX and AOR 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, FFANX or AOR?

AOR has higher volatility (2.66%) compared to FFANX (2.32%). In terms of maximum drawdown, FFANX dropped -31.69% vs AOR's -24.44%.

Which has better risk-adjusted returns?

FFANX currently has the higher Sharpe Ratio (2.61 vs 2.28), 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.