FIATX vs. BCAT

Last updated Jun 7, 2026

FIATX (Fidelity Advisor International Capital Appreciation Fund Class M) is Foreign Large Cap Equities fund managed by Fidelity, while BCAT (BlackRock Capital Allocation Trust) is a stock. Over the past 5 years, FIATX returned 6.40%/yr vs 7.28%/yr for BCAT. A 0.57 correlation means they provide meaningful diversification when combined.

Performance

FIATX vs. BCAT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor International Capital Appreciation Fund Class M (FIATX) and BlackRock Capital Allocation Trust (BCAT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FIATX achieves a 9.37% return, which is significantly lower than BCAT's 19.06% return.

FIATX

• 1D: 0.17%
• 1M: 2.61%
• YTD: 9.37%
• 6M: 11.25%
• 1Y: 11.30%
• 3Y*: 15.21%
• 5Y*: 6.40%
• 10Y*: 9.64%

BCAT

• 1D: -1.02%
• 1M: 1.74%
• YTD: 19.06%
• 6M: 18.09%
• 1Y: 25.92%
• 3Y*: 19.86%
• 5Y*: 7.28%
• 10Y*: —

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

FIATX vs. BCAT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
FIATX Fidelity Advisor International Capital Appreciation Fund Class M	9.37%	18.07%	7.49%	27.01%	-26.94%	11.67%	13.42%
BCAT BlackRock Capital Allocation Trust	19.06%	16.78%	19.37%	19.30%	-22.64%	-5.21%	9.35%

Correlation

The correlation between FIATX and BCAT is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.65
Correlation (3Y) Calculated over the trailing 3-year period	0.56
Correlation (5Y) Calculated over the trailing 5-year period	0.62
Correlation (All Time) Calculated using the full available price history since Sep 28, 2020	0.57

The correlation between FIATX and BCAT has been stable across timeframes, ranging from 0.56 to 0.65 - a consistent structural relationship.

Return for Risk

FIATX vs. BCAT — Risk / Return Rank

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

FIATX

FIATX Risk / Return Rank: 10
FIATX Sharpe Ratio Rank: 9
FIATX Sortino Ratio Rank: 10
FIATX Omega Ratio Rank: 10
FIATX Calmar Ratio Rank: 9
FIATX Martin Ratio Rank: 12

BCAT

BCAT Risk / Return Rank: 89
BCAT Sharpe Ratio Rank: 91
BCAT Sortino Ratio Rank: 90
BCAT Omega Ratio Rank: 89
BCAT Calmar Ratio Rank: 84
BCAT Martin Ratio Rank: 93

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.

FIATX vs. BCAT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor International Capital Appreciation Fund Class M (FIATX) and BlackRock Capital Allocation Trust (BCAT). 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.

	FIATX	BCAT	Difference
Sharpe ratio: Return per unit of total volatility	0.70	2.35	-1.65
Sortino ratio: Return per unit of downside risk	1.11	3.27	-2.16
Omega ratio: Gain probability vs. loss probability	1.14	1.41	-0.27
Calmar ratio: Return relative to maximum drawdown	0.83	3.28	-2.46
Martin ratio: Return relative to average drawdown	3.12	15.49	-12.37
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FIATX vs. BCAT - Sharpe Ratio Comparison

The current FIATX Sharpe Ratio is 0.70, which is lower than the BCAT Sharpe Ratio of 2.35. The chart below compares the historical Sharpe Ratios of FIATX and BCAT, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FIATX	BCAT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.70	2.35	-1.65
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.34	0.48	-0.14
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.54	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.36	0.53	-0.18

Drawdowns

FIATX vs. BCAT - Drawdown Comparison

The maximum FIATX drawdown since its inception was -68.05%, which is greater than BCAT's maximum drawdown of -36.13%. Use the drawdown chart below to compare losses from any high point for FIATX and BCAT.

Drawdown Indicators

	FIATX	BCAT	Difference
Max Drawdown Largest peak-to-trough decline	-68.05%	-36.13%	-31.92%
Max Drawdown (1Y) Largest decline over 1 year	-14.52%	-7.98%	-6.54%
Max Drawdown (3Y) Largest decline over 3 years	-16.30%	-13.69%	-2.61%
Max Drawdown (5Y) Largest decline over 5 years	-37.53%	-35.03%	-2.50%
Max Drawdown (10Y) Largest decline over 10 years	-37.53%	—	—
Current Drawdown Current decline from peak	-0.51%	-3.01%	+2.50%
Average Drawdown Average peak-to-trough decline	-16.47%	-12.78%	-3.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.84%	1.69%	+2.15%

Volatility

FIATX vs. BCAT - Volatility Comparison

Fidelity Advisor International Capital Appreciation Fund Class M (FIATX) has a higher volatility of 6.52% compared to BlackRock Capital Allocation Trust (BCAT) at 3.38%. This indicates that FIATX's price experiences larger fluctuations and is considered to be riskier than BCAT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FIATX	BCAT	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.52%	3.38%	+3.14%
Volatility (6M) Calculated over the trailing 6-month period	15.06%	8.65%	+6.41%
Volatility (1Y) Calculated over the trailing 1-year period	17.20%	11.16%	+6.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.81%	15.21%	+3.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.05%	15.91%	+2.14%

Dividends

FIATX vs. BCAT - Dividend Comparison

FIATX's dividend yield for the trailing twelve months is around 5.18%, less than BCAT's 20.62% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
BCAT BlackRock Capital Allocation Trust	20.62%	23.45%	17.48%	10.08%	9.01%	6.42%	0.48%	0.00%
FIATX Fidelity Advisor International Capital Appreciation Fund Class M	5.18%	5.66%	0.35%	0.00%	0.00%	3.67%	0.00%	0.20%

Frequently Asked Questions

Can I hold both FIATX and BCAT in my portfolio?

FIATX and BCAT have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FIATX or BCAT?

FIATX has higher volatility (6.52%) compared to BCAT (3.38%). In terms of maximum drawdown, FIATX dropped -68.05% vs BCAT's -36.13%.

Which has better risk-adjusted returns?

BCAT currently has the higher Sharpe Ratio (2.35 vs 0.70), 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.