FFANX vs. FAGIX

Last updated Jun 4, 2026

FFANX (Fidelity Asset Manager 40% Fund) and FAGIX (Fidelity Capital & Income Fund) are both mutual funds - FFANX is a Diversified Portfolio fund managed by BlackRock, while FAGIX is a High Yield Bonds fund managed by Fidelity. Over the past 10 years, FFANX returned 6.87%/yr vs 8.10%/yr for FAGIX. A 0.77 correlation means they provide meaningful diversification when combined. FFANX charges 0.52%/yr vs 0.67%/yr for FAGIX.

Performance

FFANX vs. FAGIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Asset Manager 40% Fund (FFANX) and Fidelity Capital & Income Fund (FAGIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FFANX achieves a 7.52% return, which is significantly lower than FAGIX's 8.43% return. Over the past 10 years, FFANX has underperformed FAGIX with an annualized return of 6.87%, while FAGIX has yielded a comparatively higher 8.10% annualized return.

FFANX

• 1D: 0.33%
• 1M: 2.73%
• YTD: 7.52%
• 6M: 8.05%
• 1Y: 17.63%
• 3Y*: 11.40%
• 5Y*: 5.55%
• 10Y*: 6.87%

FAGIX

• 1D: 0.43%
• 1M: 2.37%
• YTD: 8.43%
• 6M: 9.49%
• 1Y: 18.43%
• 3Y*: 13.35%
• 5Y*: 7.15%
• 10Y*: 8.10%

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

FFANX vs. FAGIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FFANX Fidelity Asset Manager 40% Fund	7.52%	13.16%	7.40%	11.52%	-13.62%	8.03%	13.10%	15.81%	-4.06%	11.25%
FAGIX Fidelity Capital & Income Fund	8.43%	12.38%	10.69%	13.02%	-11.50%	11.13%	9.95%	18.96%	-7.17%	11.66%

Correlation

The correlation between FFANX and FAGIX is 0.82, 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	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (5Y) Calculated over the trailing 5-year period	0.83
Correlation (10Y) Calculated over the trailing 10-year period	0.82
Correlation (All Time) Calculated using the full available price history since Oct 12, 2007	0.77

The correlation between FFANX and FAGIX has been stable across timeframes, ranging from 0.77 to 0.84 - a consistent structural relationship.

Return for Risk

FFANX vs. FAGIX — Risk / Return Rank

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

FFANX

FFANX Risk / Return Rank: 81
FFANX Sharpe Ratio Rank: 84
FFANX Sortino Ratio Rank: 84
FFANX Omega Ratio Rank: 81
FFANX Calmar Ratio Rank: 76
FFANX Martin Ratio Rank: 80

FAGIX

FAGIX Risk / Return Rank: 93
FAGIX Sharpe Ratio Rank: 93
FAGIX Sortino Ratio Rank: 92
FAGIX Omega Ratio Rank: 89
FAGIX Calmar Ratio Rank: 94
FAGIX Martin Ratio Rank: 96

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. FAGIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Asset Manager 40% Fund (FFANX) and Fidelity Capital & Income Fund (FAGIX). 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	FAGIX	Difference
Sharpe ratio Return per unit of total volatility	2.71	3.16	-0.45
Sortino ratio Return per unit of downside risk	3.93	4.61	-0.68
Omega ratio Gain probability vs. loss probability	1.53	1.63	-0.10
Calmar ratio Return relative to maximum drawdown	3.44	5.51	-2.07
Martin ratio Return relative to average drawdown	15.00	23.25	-8.25
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. FAGIX - Sharpe Ratio Comparison

The current FFANX Sharpe Ratio is 2.71, which is comparable to the FAGIX Sharpe Ratio of 3.16. The chart below compares the historical Sharpe Ratios of FFANX and FAGIX, 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	FAGIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.71	3.16	-0.45
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.71	1.09	-0.38
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.90	1.04	-0.14
Sharpe Ratio (All Time) Calculated using the full available price history	0.68	0.88	-0.20

Drawdowns

FFANX vs. FAGIX - Drawdown Comparison

The maximum FFANX drawdown since its inception was -31.69%, smaller than the maximum FAGIX drawdown of -37.97%. Use the drawdown chart below to compare losses from any high point for FFANX and FAGIX.

Drawdown Indicators

	FFANX	FAGIX	Difference
Max Drawdown Largest peak-to-trough decline	-31.69%	-37.97%	+6.28%
Max Drawdown (1Y) Largest decline over 1 year	-5.20%	-3.49%	-1.71%
Max Drawdown (3Y) Largest decline over 3 years	-7.55%	-7.26%	-0.29%
Max Drawdown (5Y) Largest decline over 5 years	-18.52%	-15.42%	-3.10%
Max Drawdown (10Y) Largest decline over 10 years	-18.52%	-28.45%	+9.93%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-3.80%	-6.98%	+3.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.19%	0.82%	+0.37%

Volatility

FFANX vs. FAGIX - Volatility Comparison

Fidelity Asset Manager 40% Fund (FFANX) has a higher volatility of 2.28% compared to Fidelity Capital & Income Fund (FAGIX) at 1.89%. This indicates that FFANX's price experiences larger fluctuations and is considered to be riskier than FAGIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FFANX	FAGIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.28%	1.89%	+0.39%
Volatility (6M) Calculated over the trailing 6-month period	5.45%	4.85%	+0.60%
Volatility (1Y) Calculated over the trailing 1-year period	6.60%	6.08%	+0.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.86%	6.59%	+1.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.70%	7.82%	-0.12%

FFANX vs. FAGIX - Expense Ratio Comparison

FFANX has a 0.52% expense ratio, which is lower than FAGIX's 0.67% expense ratio.

Dividends

FFANX vs. FAGIX - Dividend Comparison

FFANX's dividend yield for the trailing twelve months is around 3.65%, less than FAGIX's 4.42% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FAGIX Fidelity Capital & Income Fund	4.42%	4.74%	5.02%	5.28%	10.25%	6.08%	4.59%	5.00%	5.67%	5.05%	4.57%	4.51%
FFANX Fidelity Asset Manager 40% Fund	3.65%	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 FAGIX in my portfolio?

FFANX and FAGIX have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FFANX or FAGIX?

FFANX has higher volatility (2.28%) compared to FAGIX (1.89%). In terms of maximum drawdown, FFANX dropped -31.69% vs FAGIX's -37.97%.

Which has better risk-adjusted returns?

FAGIX currently has the higher Sharpe Ratio (3.16 vs 2.71), 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.