FIKZX vs. BRHYX

Last updated Aug 1, 2026

FIKZX (Fidelity Advisor Asset Manager 50% Fund Class Z) and BRHYX (BlackRock High Yield K) are both mutual funds - FIKZX is a Diversified Portfolio fund managed by BlackRock, while BRHYX is a High Yield Bonds fund managed by BlackRock. Over the past 5 years, FIKZX returned 6.19%/yr vs 4.12%/yr for BRHYX. Their 0.63 correlation means they have sometimes moved together and sometimes differently. FIKZX charges 0.55%/yr vs 0.48%/yr for BRHYX.

Performance

FIKZX vs. BRHYX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Asset Manager 50% Fund Class Z (FIKZX) and BlackRock High Yield K (BRHYX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FIKZX achieves a 7.15% return, which is significantly higher than BRHYX's 1.22% return.

FIKZX

• 1D: 1.22%
• 1M: -1.23%
• 6M: 4.69%
• YTD: 7.15%
• 1Y: 15.12%
• 3Y*: 12.26%
• 5Y*: 6.19%
• 10Y*: —
• ALL TIME*: 8.07%

BRHYX

• 1D: 0.14%
• 1M: -0.84%
• 6M: 0.79%
• YTD: 1.22%
• 1Y: 5.26%
• 3Y*: 8.54%
• 5Y*: 4.12%
• 10Y*: 5.67%
• ALL TIME*: 6.74%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BRHYX BlackRock High Yield K	$0.00	$0.00	$0.00
FIKZX Fidelity Advisor Asset Manager 50% Fund Class Z	$0.00	$0.00	$0.00

FIKZX vs. BRHYX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FIKZX Fidelity Advisor Asset Manager 50% Fund Class Z	7.15%	15.04%	11.18%	13.17%	-14.90%	9.98%	14.79%	18.32%	-6.94%
BRHYX BlackRock High Yield K	1.22%	9.44%	8.65%	13.26%	-11.18%	5.47%	5.98%	15.65%	-5.43%

Correlation

The correlation between FIKZX and BRHYX is 0.67, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.67
Correlation (3Y) Balances recent behavior with more history.	0.63
Correlation (5Y) Shows whether the relationship held over a longer period.	0.66
Correlation (All Time) Calculated using the full available price history since Oct 4, 2018	0.63

The correlation between FIKZX and BRHYX has been stable across timeframes, ranging from 0.63 to 0.67 - a consistent structural relationship.

Return for Risk

FIKZX vs. BRHYX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FIKZX

FIKZX Risk / Return Rank: 67
FIKZX Sharpe Ratio Rank: 65
FIKZX Sortino Ratio Rank: 65
FIKZX Omega Ratio Rank: 65
FIKZX Calmar Ratio Rank: 68
FIKZX Martin Ratio Rank: 75

BRHYX

BRHYX Risk / Return Rank: 78
BRHYX Sharpe Ratio Rank: 70
BRHYX Sortino Ratio Rank: 81
BRHYX Omega Ratio Rank: 79
BRHYX Calmar Ratio Rank: 74
BRHYX Martin Ratio Rank: 87

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FIKZX vs. BRHYX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Asset Manager 50% Fund Class Z (FIKZX) and BlackRock High Yield K (BRHYX). 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.

	FIKZX	BRHYX	Difference
Sharpe ratio: Return per unit of total volatility	1.63	1.60	+0.03
Sortino ratio: Return per unit of downside risk	2.33	2.75	-0.42
Omega ratio: Gain probability vs. loss probability	1.30	1.35	-0.05
Calmar ratio: Return relative to maximum drawdown	2.33	2.34	-0.01
Martin ratio: Return relative to average drawdown	9.53	11.03	-1.50

FIKZX vs. BRHYX - Sharpe Ratio Comparison

The current FIKZX Sharpe Ratio is 1.63, which is comparable to the BRHYX Sharpe Ratio of 1.60. The chart below compares the historical Sharpe Ratios of FIKZX and BRHYX, 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

FIKZX vs. BRHYX - Drawdown Comparison

The maximum FIKZX drawdown since its inception was -21.28%, smaller than the maximum BRHYX drawdown of -34.77%. Use the drawdown chart below to compare losses from any high point for FIKZX and BRHYX.

Drawdown Indicators

	FIKZX	BRHYX	Difference
Max Drawdown Largest peak-to-trough decline	-21.28%	-34.77%	+13.49%
Max Drawdown (1Y) Largest decline over 1 year	-6.17%	-2.40%	-3.77%
Max Drawdown (3Y) Largest decline over 3 years	-9.23%	-4.07%	-5.16%
Max Drawdown (5Y) Largest decline over 5 years	-20.48%	-15.29%	-5.19%
Max Drawdown (10Y) Largest decline over 10 years	—	-23.20%	—
Current Drawdown Current decline from peak	-1.90%	-0.98%	-0.92%
Average Drawdown Average peak-to-trough decline	-4.14%	-2.72%	-1.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.51%	0.51%	+1.00%

Volatility

FIKZX vs. BRHYX - Volatility Comparison

Fidelity Advisor Asset Manager 50% Fund Class Z (FIKZX) has a higher volatility of 2.52% compared to BlackRock High Yield K (BRHYX) at 0.71%. This indicates that FIKZX's price experiences larger fluctuations and is considered to be riskier than BRHYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FIKZX	BRHYX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.52%	0.71%	+1.81%
Volatility (6M) Calculated over the trailing 6-month period	7.53%	2.78%	+4.75%
Volatility (1Y) Calculated over the trailing 1-year period	8.83%	3.51%	+5.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.51%	5.27%	+4.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.24%	5.88%	+4.36%

FIKZX vs. BRHYX - Expense Ratio Comparison

FIKZX has a 0.55% expense ratio, which is higher than BRHYX's 0.48% expense ratio.

Dividends

FIKZX vs. BRHYX - Dividend Comparison

FIKZX's dividend yield for the trailing twelve months is around 6.53%, less than BRHYX's 6.62% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BRHYX BlackRock High Yield K	6.62%	7.14%	7.56%	6.20%	4.98%	4.80%	5.22%	5.82%	6.48%	5.92%	6.03%	6.42%
FIKZX Fidelity Advisor Asset Manager 50% Fund Class Z	6.53%	7.70%	6.33%	2.27%	6.90%	3.00%	2.48%	4.30%	4.60%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FIKZX and BRHYX in my portfolio?

FIKZX and BRHYX have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FIKZX or BRHYX?

FIKZX has higher volatility (2.52%) compared to BRHYX (0.71%). In terms of maximum drawdown, FIKZX dropped -21.28% vs BRHYX's -34.77%.

Which has better risk-adjusted returns?

FIKZX currently has the higher Sharpe Ratio (1.63 vs 1.60), 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.