FFNCX vs. FFANX
FFNCX (Fidelity Advisor Asset Manager 40% Fund Class C) and FFANX (Fidelity Asset Manager 40% Fund) are both Diversified Portfolio funds from BlackRock. Over the past 10 years, FFNCX returned 5.93%/yr vs 6.99%/yr for FFANX. With a 0.99 correlation, they move nearly in lockstep. FFNCX charges 1.60%/yr vs 0.52%/yr for FFANX.
Performance
FFNCX vs. FFANX - Performance Comparison
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Returns By Period
In the year-to-date period, FFNCX achieves a 6.91% return, which is significantly lower than FFANX's 7.45% return. Over the past 10 years, FFNCX has underperformed FFANX with an annualized return of 5.93%, while FFANX has yielded a comparatively higher 6.99% annualized return.
FFNCX
- 1D
- -0.20%
- 1M
- 1.29%
- YTD
- 6.91%
- 6M
- 6.76%
- 1Y
- 15.19%
- 3Y*
- 10.15%
- 5Y*
- 4.26%
- 10Y*
- 5.93%
FFANX
- 1D
- -0.13%
- 1M
- 1.41%
- YTD
- 7.45%
- 6M
- 7.31%
- 1Y
- 16.42%
- 3Y*
- 11.28%
- 5Y*
- 5.36%
- 10Y*
- 6.99%
FFNCX vs. FFANX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FFNCX Fidelity Advisor Asset Manager 40% Fund Class C | 6.91% | 11.99% | 6.26% | 10.38% | -14.49% | 6.88% | 11.83% | 14.61% | -5.10% | 10.42% |
FFANX Fidelity Asset Manager 40% Fund | 7.45% | 13.16% | 7.40% | 11.52% | -13.62% | 8.03% | 13.10% | 15.81% | -4.06% | 11.25% |
Correlation
The correlation between FFNCX and FFANX is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Oct 11, 2007 | 0.99 |
The correlation between FFNCX and FFANX has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.
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Return for Risk
FFNCX vs. FFANX — Risk / Return Rank
FFNCX
FFANX
FFNCX vs. FFANX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Asset Manager 40% Fund Class C (FFNCX) and Fidelity Asset Manager 40% Fund (FFANX). 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.
| FFNCX | FFANX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.19 | ||
| Sortino ratioReturn per unit of downside risk | -0.28 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.47 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.98 | 3.27 | -0.29 |
| Martin ratioReturn relative to average drawdown | 12.63 | 13.95 | -1.32 |
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Drawdowns
FFNCX vs. FFANX - Drawdown Comparison
The maximum FFNCX drawdown since its inception was -32.67%, roughly equal to the maximum FFANX drawdown of -31.69%. Use the drawdown chart below to compare losses from any high point for FFNCX and FFANX.
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Drawdown Indicators
| FFNCX | FFANX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.67% | -31.69% | -0.98% |
Max Drawdown (1Y)Largest decline over 1 year | -5.30% | -5.20% | -0.10% |
Max Drawdown (3Y)Largest decline over 3 years | -7.87% | -7.55% | -0.32% |
Max Drawdown (5Y)Largest decline over 5 years | -19.37% | -18.52% | -0.85% |
Max Drawdown (10Y)Largest decline over 10 years | -19.37% | -18.52% | -0.85% |
Current DrawdownCurrent decline from peak | -0.20% | -0.13% | -0.07% |
Average DrawdownAverage peak-to-trough decline | -4.33% | -3.79% | -0.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.25% | 1.22% | +0.03% |
Volatility
FFNCX vs. FFANX - Volatility Comparison
Fidelity Advisor Asset Manager 40% Fund Class C (FFNCX) and Fidelity Asset Manager 40% Fund (FFANX) have volatilities of 2.94% and 2.94%, 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.
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Volatility by Period
| FFNCX | FFANX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.94% | 2.94% | 0.00% |
Volatility (6M)Calculated over the trailing 6-month period | 6.05% | 6.01% | +0.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.14% | 7.09% | +0.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.96% | 7.94% | +0.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.72% | 7.74% | -0.02% |
FFNCX vs. FFANX - Expense Ratio Comparison
FFNCX has a 1.60% expense ratio, which is higher than FFANX's 0.52% expense ratio.
Dividends
FFNCX vs. FFANX - Dividend Comparison
FFNCX's dividend yield for the trailing twelve months is around 2.67%, less than FFANX's 3.65% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
FFNCX Fidelity Advisor Asset Manager 40% Fund Class C | 2.67% | 2.92% | 1.80% | 1.47% | 4.67% | 1.34% | 1.37% | 2.61% | 3.42% | 1.80% | 0.65% | 2.10% |
Frequently Asked Questions
With a correlation of 0.99, FFNCX and FFANX 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.
FFANX has higher volatility (2.94%) compared to FFNCX (2.94%). In terms of maximum drawdown, FFNCX dropped -32.67% vs FFANX's -31.69%.
FFANX currently has the higher Sharpe Ratio (2.40 vs 2.21), 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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