FFNOX vs. FLPSX

Last updated Jun 23, 2026

FFNOX (Fidelity Multi-Asset Index Fund) and FLPSX (Fidelity Low-Priced Stock Fund) are both mutual funds - FFNOX is a Diversified Portfolio fund actively managed by Fidelity, while FLPSX is a Mid Cap Value Equities fund actively managed by Fidelity. Both are actively managed. Over the past 10 years, FFNOX returned 11.33%/yr vs 11.02%/yr for FLPSX. Their correlation of 0.91 suggests significant overlap in exposure. FFNOX charges 0.11%/yr vs 0.87%/yr for FLPSX.

Performance

FFNOX vs. FLPSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Multi-Asset Index Fund (FFNOX) and Fidelity Low-Priced Stock Fund (FLPSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FFNOX achieves a 11.33% return, which is significantly higher than FLPSX's 10.72% return. Both investments have delivered pretty close results over the past 10 years, with FFNOX having a 11.33% annualized return and FLPSX not far behind at 11.02%.

FFNOX

• 1D: 1.16%
• 1M: 2.04%
• YTD: 11.33%
• 6M: 11.14%
• 1Y: 26.10%
• 3Y*: 17.15%
• 5Y*: 9.73%
• 10Y*: 11.33%

FLPSX

• 1D: 0.31%
• 1M: 2.49%
• YTD: 10.72%
• 6M: 10.00%
• 1Y: 22.22%
• 3Y*: 14.59%
• 5Y*: 9.46%
• 10Y*: 11.02%

*Multi-year figures are annualized to reflect compound growth (CAGR)

FFNOX vs. FLPSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FFNOX Fidelity Multi-Asset Index Fund	11.33%	20.18%	13.05%	19.29%	-18.02%	17.05%	16.30%	25.09%	-6.58%	17.09%
FLPSX Fidelity Low-Priced Stock Fund	10.72%	14.69%	7.23%	14.41%	-5.69%	24.46%	9.34%	25.75%	-10.80%	18.88%

Correlation

The correlation between FFNOX and FLPSX is 0.81, 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	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (10Y) Calculated over the trailing 10-year period	0.87
Correlation (All Time) Calculated using the full available price history since Jun 29, 1999	0.91

The correlation between FFNOX and FLPSX shifts across timeframes, from 0.81 (1 year) to 0.91 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FFNOX vs. FLPSX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FFNOX

FFNOX Risk / Return Rank: 66
FFNOX Sharpe Ratio Rank: 65
FFNOX Sortino Ratio Rank: 62
FFNOX Omega Ratio Rank: 64
FFNOX Calmar Ratio Rank: 66
FFNOX Martin Ratio Rank: 71

FLPSX

FLPSX Risk / Return Rank: 42
FLPSX Sharpe Ratio Rank: 41
FLPSX Sortino Ratio Rank: 43
FLPSX Omega Ratio Rank: 39
FLPSX Calmar Ratio Rank: 47
FLPSX Martin Ratio Rank: 42

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.

FFNOX vs. FLPSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Multi-Asset Index Fund (FFNOX) and Fidelity Low-Priced Stock Fund (FLPSX). 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.

	FFNOX	FLPSX	Difference
Sharpe ratio: Return per unit of total volatility	2.17	1.73	+0.44
Sortino ratio: Return per unit of downside risk	3.01	2.56	+0.45
Omega ratio: Gain probability vs. loss probability	1.40	1.31	+0.09
Calmar ratio: Return relative to maximum drawdown	2.99	2.49	+0.50
Martin ratio: Return relative to average drawdown	12.78	8.47	+4.31

FFNOX vs. FLPSX - Sharpe Ratio Comparison

The current FFNOX Sharpe Ratio is 2.17, which is comparable to the FLPSX Sharpe Ratio of 1.73. The chart below compares the historical Sharpe Ratios of FFNOX and FLPSX, 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

FFNOX vs. FLPSX - Drawdown Comparison

The maximum FFNOX drawdown since its inception was -49.84%, smaller than the maximum FLPSX drawdown of -54.81%. Use the drawdown chart below to compare losses from any high point for FFNOX and FLPSX.

Drawdown Indicators

	FFNOX	FLPSX	Difference
Max Drawdown Largest peak-to-trough decline	-49.84%	-54.81%	+4.97%
Max Drawdown (1Y) Largest decline over 1 year	-8.60%	-8.87%	+0.27%
Max Drawdown (3Y) Largest decline over 3 years	-14.10%	-17.66%	+3.56%
Max Drawdown (5Y) Largest decline over 5 years	-26.04%	-18.76%	-7.28%
Max Drawdown (10Y) Largest decline over 10 years	-29.93%	-38.16%	+8.23%
Current Drawdown Current decline from peak	-0.22%	-1.08%	+0.86%
Average Drawdown Average peak-to-trough decline	-8.69%	-5.65%	-3.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.01%	2.60%	-0.59%

Volatility

FFNOX vs. FLPSX - Volatility Comparison

Fidelity Multi-Asset Index Fund (FFNOX) has a higher volatility of 4.81% compared to Fidelity Low-Priced Stock Fund (FLPSX) at 3.59%. This indicates that FFNOX's price experiences larger fluctuations and is considered to be riskier than FLPSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FFNOX	FLPSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.81%	3.59%	+1.22%
Volatility (6M) Calculated over the trailing 6-month period	9.89%	9.16%	+0.73%
Volatility (1Y) Calculated over the trailing 1-year period	11.86%	12.75%	-0.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.88%	17.20%	-3.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.62%	17.37%	-2.75%

FFNOX vs. FLPSX - Expense Ratio Comparison

FFNOX has a 0.11% expense ratio, which is lower than FLPSX's 0.87% expense ratio.

Dividends

FFNOX vs. FLPSX - Dividend Comparison

FFNOX's dividend yield for the trailing twelve months is around 2.31%, less than FLPSX's 12.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FFNOX Fidelity Multi-Asset Index Fund	2.31%	3.68%	6.43%	3.18%	7.14%	5.71%	2.87%	2.96%	2.90%	0.64%	2.50%	0.70%
FLPSX Fidelity Low-Priced Stock Fund	12.00%	13.28%	16.24%	18.29%	9.45%	12.11%	11.14%	8.14%	13.45%	7.45%	4.85%	4.04%

Frequently Asked Questions

Can I hold both FFNOX and FLPSX in my portfolio?

FFNOX and FLPSX have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FFNOX or FLPSX?

FFNOX has higher volatility (4.81%) compared to FLPSX (3.59%). In terms of maximum drawdown, FFNOX dropped -49.84% vs FLPSX's -54.81%.

Which has better risk-adjusted returns?

FFNOX currently has the higher Sharpe Ratio (2.17 vs 1.73), 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.