FFNAX vs. BRUFX
FFNAX (Fidelity Advisor Asset Manager 40% Fund Class A) and BRUFX (Bruce Fund) are both Diversified Portfolio funds. Over the past 10 years, FFNAX returned 6.18%/yr vs 7.56%/yr for BRUFX. Their 0.70 correlation means they have sometimes moved together and sometimes differently. FFNAX charges 0.83%/yr vs 0.68%/yr for BRUFX.
Performance
FFNAX vs. BRUFX - Performance Comparison
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Returns By Period
In the year-to-date period, FFNAX achieves a 5.73% return, which is significantly lower than BRUFX's 16.02% return. Over the past 10 years, FFNAX has underperformed BRUFX with an annualized return of 6.18%, while BRUFX has yielded a comparatively higher 7.56% annualized return.
FFNAX
- 1D
- 1.02%
- 1M
- -1.13%
- 6M
- 3.67%
- YTD
- 5.73%
- 1Y
- 12.33%
- 3Y*
- 9.63%
- 5Y*
- 4.47%
- 10Y*
- 6.18%
- ALL TIME*
- 5.15%
BRUFX
- 1D
- -0.39%
- 1M
- 0.09%
- 6M
- 11.25%
- YTD
- 16.02%
- 1Y
- 29.17%
- 3Y*
- 12.15%
- 5Y*
- 5.98%
- 10Y*
- 7.56%
- ALL TIME*
- 9.51%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
BRUFX Bruce Fund | $0.00 | $0.00 | $0.00 |
| $0.00 | $0.00 | $0.00 |
FFNAX vs. BRUFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FFNAX Fidelity Advisor Asset Manager 40% Fund Class A | 5.73% | 12.83% | 7.02% | 11.27% | -13.89% | 7.72% | 12.74% | 15.56% | -4.46% | 10.98% |
BRUFX Bruce Fund | 16.02% | 14.89% | 4.45% | -0.74% | -8.80% | 17.35% | 12.06% | 22.42% | -3.99% | 12.48% |
Correlation
The correlation between FFNAX and BRUFX is 0.46, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.46 |
Correlation (3Y) Balances recent behavior with more history. | 0.53 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.61 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.66 |
Correlation (All Time) Calculated using the full available price history since Oct 11, 2007 | 0.70 |
Over the past year, the correlation between FFNAX and BRUFX has dropped to 0.46 - well below their long-term average of 0.70, suggesting their price drivers have been diverging.
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Return for Risk
FFNAX vs. BRUFX — Risk / Return Rank
FFNAX
BRUFX
FFNAX vs. BRUFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Asset Manager 40% Fund Class A (FFNAX) and Bruce Fund (BRUFX). 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.
| FFNAX | BRUFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.12 | ||
| Sortino ratioReturn per unit of downside risk | -1.57 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.49 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | 2.29 | 3.78 | -1.49 |
| Martin ratioReturn relative to average drawdown | 9.15 | 17.01 | -7.87 |
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Drawdowns
FFNAX vs. BRUFX - Drawdown Comparison
The maximum FFNAX drawdown since its inception was -31.88%, smaller than the maximum BRUFX drawdown of -44.50%. Use the drawdown chart below to compare losses from any high point for FFNAX and BRUFX.
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Drawdown Indicators
| FFNAX | BRUFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.88% | -44.50% | +12.62% |
Max Drawdown (1Y)Largest decline over 1 year | -5.20% | -7.67% | +2.47% |
Max Drawdown (3Y)Largest decline over 3 years | -7.60% | -9.66% | +2.06% |
Max Drawdown (5Y)Largest decline over 5 years | -18.77% | -17.91% | -0.86% |
Max Drawdown (10Y)Largest decline over 10 years | -18.77% | -25.44% | +6.67% |
Current DrawdownCurrent decline from peak | -1.72% | -1.71% | -0.01% |
Average DrawdownAverage peak-to-trough decline | -3.92% | -9.04% | +5.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.30% | 1.70% | -0.40% |
Volatility
FFNAX vs. BRUFX - Volatility Comparison
The current volatility for Fidelity Advisor Asset Manager 40% Fund Class A (FFNAX) is 2.16%, while Bruce Fund (BRUFX) has a volatility of 2.42%. This indicates that FFNAX experiences smaller price fluctuations and is considered to be less risky than BRUFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FFNAX | BRUFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.16% | 2.42% | -0.26% |
Volatility (6M)Calculated over the trailing 6-month period | 6.31% | 8.50% | -2.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.39% | 10.65% | -3.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.00% | 10.58% | -2.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.73% | 11.65% | -3.92% |
FFNAX vs. BRUFX - Expense Ratio Comparison
FFNAX has a 0.83% expense ratio, which is higher than BRUFX's 0.68% expense ratio.
Dividends
FFNAX vs. BRUFX - Dividend Comparison
FFNAX's dividend yield for the trailing twelve months is around 2.86%, less than BRUFX's 5.48% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BRUFX Bruce Fund | 5.48% | 6.35% | 5.01% | 6.46% | 13.31% | 9.25% | 5.83% | 2.03% | 2.49% | 4.11% | 6.26% | 4.63% |
FFNAX Fidelity Advisor Asset Manager 40% Fund Class A | 2.86% | 3.69% | 2.54% | 2.20% | 5.40% | 2.06% | 2.08% | 3.37% | 4.21% | 2.32% | 1.21% | 2.88% |
Frequently Asked Questions
FFNAX and BRUFX have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
BRUFX has higher volatility (2.42%) compared to FFNAX (2.16%). In terms of maximum drawdown, FFNAX dropped -31.88% vs BRUFX's -44.50%.
BRUFX currently has the higher Sharpe Ratio (2.73 vs 1.61), 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.
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