FFANX vs. FAGIX

Last updated Aug 2, 2026

FFANX (Fidelity Asset Manager 40% Fund) and FAGIX (Fidelity Capital & Income Fund) are both mutual funds - FFANX is a Diversified Portfolio fund actively managed by Fidelity, while FAGIX is a High Yield Bonds fund actively managed by Fidelity. Both are actively managed. Over the past 10 years, FFANX returned 6.54%/yr vs 7.47%/yr for FAGIX. Their 0.77 correlation means they have sometimes moved together and sometimes differently. FFANX charges 0.53%/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 6.42% return, which is significantly higher than FAGIX's 5.47% return. Over the past 10 years, FFANX has underperformed FAGIX with an annualized return of 6.54%, while FAGIX has yielded a comparatively higher 7.47% annualized return.

FFANX

• 1D: 1.02%
• 1M: -0.62%
• 6M: 4.35%
• YTD: 6.42%
• 1Y: 13.25%
• 3Y*: 10.10%
• 5Y*: 4.88%
• 10Y*: 6.54%
• ALL TIME*: 5.47%

FAGIX

• 1D: 1.00%
• 1M: -1.59%
• 6M: 3.79%
• YTD: 5.47%
• 1Y: 11.22%
• 3Y*: 11.21%
• 5Y*: 6.17%
• 10Y*: 7.47%
• ALL TIME*: 6.07%

*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)
FAGIX Fidelity Capital & Income Fund	$0.00	$0.00	$0.00
FFANX Fidelity Asset Manager 40% Fund	$0.00	$0.00	$0.00

FFANX vs. FAGIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FFANX Fidelity Asset Manager 40% Fund	6.42%	13.16%	7.40%	11.52%	-13.62%	8.03%	13.10%	15.81%	-4.06%	11.25%
FAGIX Fidelity Capital & Income Fund	5.47%	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 0.85, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.85
Correlation (3Y) Balances recent behavior with more history.	0.84
Correlation (5Y) Shows whether the relationship held over a longer period.	0.84
Correlation (10Y) Provides a long-term view across more market conditions.	0.82
Correlation (All Time) Calculated using the full available price history since Oct 11, 2007	0.77

The correlation between FFANX and FAGIX has been stable across timeframes, ranging from 0.77 to 0.85 - a consistent structural relationship.

Return for Risk

FFANX vs. FAGIX — Risk / Return Rank

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

FFANX

FFANX Risk / Return Rank: 78
FFANX Sharpe Ratio Rank: 77
FFANX Sortino Ratio Rank: 76
FFANX Omega Ratio Rank: 76
FFANX Calmar Ratio Rank: 77
FFANX Martin Ratio Rank: 84

FAGIX

FAGIX Risk / Return Rank: 74
FAGIX Sharpe Ratio Rank: 69
FAGIX Sortino Ratio Rank: 66
FAGIX Omega Ratio Rank: 67
FAGIX Calmar Ratio Rank: 83
FAGIX Martin Ratio Rank: 84

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.

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.

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.

	FFANX	FAGIX	Difference
Sharpe ratio: Return per unit of total volatility	1.75	1.55	+0.19
Sortino ratio: Return per unit of downside risk	2.51	2.20	+0.31
Omega ratio: Gain probability vs. loss probability	1.33	1.28	+0.04
Calmar ratio: Return relative to maximum drawdown	2.46	2.72	-0.25
Martin ratio: Return relative to average drawdown	10.21	10.26	-0.05

FFANX vs. FAGIX - Sharpe Ratio Comparison

The current FFANX Sharpe Ratio is 1.75, which is comparable to the FAGIX Sharpe Ratio of 1.55. 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.

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%	-4.02%	-1.18%
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	-1.15%	-3.07%	+1.92%
Average Drawdown Average peak-to-trough decline	-3.77%	-6.97%	+3.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.25%	1.06%	+0.19%

Volatility

FFANX vs. FAGIX - Volatility Comparison

Fidelity Asset Manager 40% Fund (FFANX) and Fidelity Capital & Income Fund (FAGIX) have volatilities of 2.13% and 2.24%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. 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	2.13%	2.24%	-0.11%
Volatility (6M) Calculated over the trailing 6-month period	6.28%	5.94%	+0.34%
Volatility (1Y) Calculated over the trailing 1-year period	7.34%	7.04%	+0.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.99%	6.79%	+1.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.73%	7.84%	-0.11%

FFANX vs. FAGIX - Expense Ratio Comparison

FFANX has a 0.53% 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 3.66%, less than FAGIX's 5.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FAGIX Fidelity Capital & Income Fund	5.05%	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	3.66%	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 FAGIX in my portfolio?

FFANX and FAGIX have a correlation of 0.85, 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?

FAGIX has higher volatility (2.24%) compared to FFANX (2.13%). In terms of maximum drawdown, FFANX dropped -31.69% vs FAGIX's -37.97%.

Which has better risk-adjusted returns?

FFANX currently has the higher Sharpe Ratio (1.75 vs 1.55), 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.