FFCMX vs. VTMFX

Last updated Aug 1, 2026

FFCMX (Fidelity Advisor Asset Manager 50% Fund Class C) and VTMFX (Vanguard Tax-Managed Balanced Fund Admiral Shares) are both Diversified Portfolio funds. Over the past 10 years, FFCMX returned 6.50%/yr vs 8.27%/yr for VTMFX. Their correlation of 0.94 means they have usually moved in the same direction. FFCMX charges 1.68%/yr vs 0.05%/yr for VTMFX.

Performance

FFCMX vs. VTMFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Asset Manager 50% Fund Class C (FFCMX) and Vanguard Tax-Managed Balanced Fund Admiral Shares (VTMFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FFCMX achieves a 6.75% return, which is significantly higher than VTMFX's 4.40% return. Over the past 10 years, FFCMX has underperformed VTMFX with an annualized return of 6.50%, while VTMFX has yielded a comparatively higher 8.27% annualized return.

FFCMX

• 1D: 1.24%
• 1M: -1.04%
• 6M: 4.42%
• YTD: 6.75%
• 1Y: 14.17%
• 3Y*: 10.27%
• 5Y*: 4.58%
• 10Y*: 6.50%
• ALL TIME*: 5.13%

VTMFX

• 1D: 0.71%
• 1M: -1.15%
• 6M: 3.25%
• YTD: 4.40%
• 1Y: 11.79%
• 3Y*: 10.68%
• 5Y*: 6.40%
• 10Y*: 8.27%
• ALL TIME*: 7.75%

*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)
FFCMX Fidelity Advisor Asset Manager 50% Fund Class C	$0.00	$0.00	$0.00
VTMFX Vanguard Tax-Managed Balanced Fund Admiral Shares	$0.00	$0.00	$0.00

FFCMX vs. VTMFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FFCMX Fidelity Advisor Asset Manager 50% Fund Class C	6.75%	13.76%	7.41%	11.86%	-15.81%	8.73%	13.45%	17.01%	-6.37%	12.67%
VTMFX Vanguard Tax-Managed Balanced Fund Admiral Shares	4.40%	11.28%	12.17%	15.55%	-12.69%	13.10%	13.31%	18.01%	-1.40%	12.61%

Correlation

The correlation between FFCMX and VTMFX is 0.94, 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.	0.94
Correlation (3Y) Balances recent behavior with more history.	0.91
Correlation (5Y) Shows whether the relationship held over a longer period.	0.93
Correlation (10Y) Provides a long-term view across more market conditions.	0.93
Correlation (All Time) Calculated using the full available price history since Sep 1, 2005	0.94

The correlation between FFCMX and VTMFX has been stable across timeframes, ranging from 0.91 to 0.94 - a consistent structural relationship.

Return for Risk

FFCMX vs. VTMFX — Risk / Return Rank

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

FFCMX

FFCMX Risk / Return Rank: 60
FFCMX Sharpe Ratio Rank: 57
FFCMX Sortino Ratio Rank: 57
FFCMX Omega Ratio Rank: 58
FFCMX Calmar Ratio Rank: 59
FFCMX Martin Ratio Rank: 67

VTMFX

VTMFX Risk / Return Rank: 72
VTMFX Sharpe Ratio Rank: 74
VTMFX Sortino Ratio Rank: 71
VTMFX Omega Ratio Rank: 72
VTMFX Calmar Ratio Rank: 64
VTMFX Martin Ratio Rank: 78

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.

FFCMX vs. VTMFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Asset Manager 50% Fund Class C (FFCMX) and Vanguard Tax-Managed Balanced Fund Admiral Shares (VTMFX). 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.

	FFCMX	VTMFX	Difference
Sharpe ratio: Return per unit of total volatility	1.53	1.66	-0.14
Sortino ratio: Return per unit of downside risk	2.18	2.34	-0.16
Omega ratio: Gain probability vs. loss probability	1.28	1.30	-0.02
Calmar ratio: Return relative to maximum drawdown	2.15	2.06	+0.09
Martin ratio: Return relative to average drawdown	8.79	9.19	-0.41

FFCMX vs. VTMFX - Sharpe Ratio Comparison

The current FFCMX Sharpe Ratio is 1.53, which is comparable to the VTMFX Sharpe Ratio of 1.66. The chart below compares the historical Sharpe Ratios of FFCMX and VTMFX, 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

FFCMX vs. VTMFX - Drawdown Comparison

The maximum FFCMX drawdown since its inception was -38.54%, which is greater than VTMFX's maximum drawdown of -28.49%. Use the drawdown chart below to compare losses from any high point for FFCMX and VTMFX.

Drawdown Indicators

	FFCMX	VTMFX	Difference
Max Drawdown Largest peak-to-trough decline	-38.54%	-28.49%	-10.05%
Max Drawdown (1Y) Largest decline over 1 year	-6.25%	-5.38%	-0.87%
Max Drawdown (3Y) Largest decline over 3 years	-9.56%	-10.61%	+1.05%
Max Drawdown (5Y) Largest decline over 5 years	-21.34%	-17.40%	-3.94%
Max Drawdown (10Y) Largest decline over 10 years	-21.34%	-21.87%	+0.53%
Current Drawdown Current decline from peak	-1.72%	-1.54%	-0.18%
Average Drawdown Average peak-to-trough decline	-4.82%	-3.54%	-1.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.53%	1.20%	+0.33%

Volatility

FFCMX vs. VTMFX - Volatility Comparison

Fidelity Advisor Asset Manager 50% Fund Class C (FFCMX) has a higher volatility of 2.53% compared to Vanguard Tax-Managed Balanced Fund Admiral Shares (VTMFX) at 1.85%. This indicates that FFCMX's price experiences larger fluctuations and is considered to be riskier than VTMFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FFCMX	VTMFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.53%	1.85%	+0.68%
Volatility (6M) Calculated over the trailing 6-month period	7.50%	5.35%	+2.15%
Volatility (1Y) Calculated over the trailing 1-year period	8.81%	6.67%	+2.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.46%	8.59%	+0.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.33%	9.14%	+0.19%

FFCMX vs. VTMFX - Expense Ratio Comparison

FFCMX has a 1.68% expense ratio, which is higher than VTMFX's 0.05% expense ratio.

Dividends

FFCMX vs. VTMFX - Dividend Comparison

FFCMX's dividend yield for the trailing twelve months is around 5.78%, more than VTMFX's 2.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FFCMX Fidelity Advisor Asset Manager 50% Fund Class C	5.78%	6.64%	2.88%	1.20%	5.83%	1.99%	1.47%	3.21%	4.23%	3.19%	0.92%	4.69%
VTMFX Vanguard Tax-Managed Balanced Fund Admiral Shares	2.22%	2.14%	2.08%	1.94%	1.85%	1.38%	1.72%	2.05%	2.22%	2.00%	2.13%	2.06%

Frequently Asked Questions

Can I hold both FFCMX and VTMFX in my portfolio?

With a correlation of 0.94, FFCMX and VTMFX 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, FFCMX or VTMFX?

FFCMX has higher volatility (2.53%) compared to VTMFX (1.85%). In terms of maximum drawdown, FFCMX dropped -38.54% vs VTMFX's -28.49%.

Which has better risk-adjusted returns?

VTMFX currently has the higher Sharpe Ratio (1.66 vs 1.52), 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.