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FFNAX vs. WFSPX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FFNAX vs. WFSPX

Last updated Jun 5, 2026

FFNAX (Fidelity Advisor Asset Manager 40% Fund Class A) and WFSPX (iShares S&P 500 Index Fund) are both mutual funds - FFNAX is a Diversified Portfolio fund managed by BlackRock, while WFSPX is a S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, FFNAX returned 6.53%/yr vs 15.46%/yr for WFSPX. Their correlation of 0.89 suggests significant overlap in exposure. FFNAX charges 0.83%/yr vs 0.03%/yr for WFSPX.

Performance

FFNAX vs. WFSPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Asset Manager 40% Fund Class A (FFNAX) and iShares S&P 500 Index Fund (WFSPX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, FFNAX achieves a 7.01% return, which is significantly lower than WFSPX's 10.87% return. Over the past 10 years, FFNAX has underperformed WFSPX with an annualized return of 6.53%, while WFSPX has yielded a comparatively higher 15.46% annualized return.

FFNAX

1D
-0.40%
1M
1.83%
YTD
7.01%
6M
7.46%
1Y
16.37%
3Y*
10.96%
5Y*
5.04%
10Y*
6.53%

WFSPX

1D
-0.74%
1M
4.17%
YTD
10.87%
6M
10.77%
1Y
27.97%
3Y*
22.41%
5Y*
13.88%
10Y*
15.46%
*Multi-year figures are annualized to reflect compound growth (CAGR)

FFNAX vs. WFSPX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
FFNAX
Fidelity Advisor Asset Manager 40% Fund Class A		7.01%12.83%7.02%11.27%-13.89%7.72%12.74%15.56%-4.46%10.98%
WFSPX
iShares S&P 500 Index Fund		10.87%17.83%24.94%26.25%-18.14%28.63%18.43%31.45%-4.83%21.27%

Correlation

The correlation between FFNAX and WFSPX is 0.90, 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

0.90

Correlation (3Y)
Calculated over the trailing 3-year period

0.85

Correlation (5Y)
Calculated over the trailing 5-year period

0.87

Correlation (10Y)
Calculated over the trailing 10-year period

0.88

Correlation (All Time)
Calculated using the full available price history since Oct 12, 2007

0.89

The correlation between FFNAX and WFSPX has been stable across timeframes, ranging from 0.85 to 0.90 - a consistent structural relationship.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Fidelity Advisor Asset Manager 40% Fund Class A

iShares S&P 500 Index Fund

Often compared with FFNAX:
FFNAX vs. JNBSXFFNAX vs. AMRMXFFNAX vs. INPAXFFNAX vs. JMSIXFFNAX vs. IDIVXFFNAX vs. DOXIXFFNAX vs. VDY.TO
Often compared with WFSPX:
WFSPX vs. JLGMXWFSPX vs. VOOWFSPX vs. FSPGXWFSPX vs. FXAIXWFSPX vs. BRMKXWFSPX vs. IVVWFSPX vs. APGYX

Return for Risk

FFNAX vs. WFSPX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FFNAX
FFNAX Risk / Return Rank: 7676
Overall Rank
FFNAX Sharpe Ratio Rank: 7878
Sharpe Ratio Rank
FFNAX Sortino Ratio Rank: 7777
Sortino Ratio Rank
FFNAX Omega Ratio Rank: 7676
Omega Ratio Rank
FFNAX Calmar Ratio Rank: 7474
Calmar Ratio Rank
FFNAX Martin Ratio Rank: 7777
Martin Ratio Rank
WFSPX
WFSPX Risk / Return Rank: 6666
Overall Rank
WFSPX Sharpe Ratio Rank: 6464
Sharpe Ratio Rank
WFSPX Sortino Ratio Rank: 5959
Sortino Ratio Rank
WFSPX Omega Ratio Rank: 6060
Omega Ratio Rank
WFSPX Calmar Ratio Rank: 6767
Calmar Ratio Rank
WFSPX Martin Ratio Rank: 7979
Martin Ratio Rank
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.

FFNAX vs. WFSPX - 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 iShares S&P 500 Index Fund (WFSPX). 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.

FFNAXWFSPXDifference
Sharpe ratioReturn per unit of total volatility
2.55
2.37

+0.18

Sortino ratioReturn per unit of downside risk
3.67
3.24

+0.43

Omega ratioGain probability vs. loss probability

1.49

1.43

+0.06

Calmar ratioReturn relative to maximum drawdown

3.26

3.16

+0.11

Martin ratioReturn relative to average drawdown

14.07

14.75

-0.68

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FFNAX vs. WFSPX - Sharpe Ratio Comparison

The current FFNAX Sharpe Ratio is 2.55, which is comparable to the WFSPX Sharpe Ratio of 2.37. The chart below compares the historical Sharpe Ratios of FFNAX and WFSPX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

FFNAXWFSPXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.55

2.37

+0.18

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.64

0.83

-0.18

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.85

0.86

-0.01

Sharpe Ratio (All Time)

Calculated using the full available price history

0.64

0.13

+0.51

Drawdowns

FFNAX vs. WFSPX - Drawdown Comparison

The maximum FFNAX drawdown since its inception was -31.88%, smaller than the maximum WFSPX drawdown of -58.21%. Use the drawdown chart below to compare losses from any high point for FFNAX and WFSPX.

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Drawdown Indicators

FFNAXWFSPXDifference

Max Drawdown

Largest peak-to-trough decline

-31.88%

-58.21%

+26.33%

Max Drawdown (1Y)

Largest decline over 1 year

-5.20%

-8.90%

+3.70%

Max Drawdown (3Y)

Largest decline over 3 years

-7.60%

-18.74%

+11.14%

Max Drawdown (5Y)

Largest decline over 5 years

-18.77%

-24.51%

+5.74%

Max Drawdown (10Y)

Largest decline over 10 years

-18.77%

-33.74%

+14.97%

Current Drawdown

Current decline from peak

-0.40%

-0.74%

+0.34%

Average Drawdown

Average peak-to-trough decline

-3.94%

-12.77%

+8.83%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.20%

1.90%

-0.70%

Volatility

FFNAX vs. WFSPX - Volatility Comparison

The current volatility for Fidelity Advisor Asset Manager 40% Fund Class A (FFNAX) is 2.34%, while iShares S&P 500 Index Fund (WFSPX) has a volatility of 2.92%. This indicates that FFNAX experiences smaller price fluctuations and is considered to be less risky than WFSPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FFNAXWFSPXDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.34%

2.92%

-0.58%

Volatility (6M)

Calculated over the trailing 6-month period

5.47%

8.99%

-3.52%

Volatility (1Y)

Calculated over the trailing 1-year period

6.67%

11.88%

-5.21%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

7.86%

16.88%

-9.02%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

7.69%

18.02%

-10.33%

FFNAX vs. WFSPX - Expense Ratio Comparison

FFNAX has a 0.83% expense ratio, which is higher than WFSPX's 0.03% expense ratio.

Dividends

FFNAX vs. WFSPX - Dividend Comparison

FFNAX's dividend yield for the trailing twelve months is around 3.39%, more than WFSPX's 1.58% yield.

PositionTTM20252024202320222021202020192018201720162015
FFNAX
Fidelity Advisor Asset Manager 40% Fund Class A		3.39%3.69%2.54%2.20%5.40%2.06%2.08%3.37%4.21%2.32%1.21%2.88%
WFSPX
iShares S&P 500 Index Fund		1.58%1.72%1.41%1.50%2.02%1.82%1.66%1.99%2.00%1.62%2.37%2.49%

Frequently Asked Questions

FFNAX and WFSPX have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

WFSPX has higher volatility (2.92%) compared to FFNAX (2.34%). In terms of maximum drawdown, FFNAX dropped -31.88% vs WFSPX's -58.21%.

FFNAX currently has the higher Sharpe Ratio (2.55 vs 2.37), 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.

Portfolio Optimizer

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