FIKZX vs. VTMFX

Last updated Jun 4, 2026

FIKZX (Fidelity Advisor Asset Manager 50% Fund Class Z) and VTMFX (Vanguard Tax-Managed Balanced Fund Admiral Shares) are both Diversified Portfolio funds from BlackRock. Over the past 5 years, FIKZX returned 7.04%/yr vs 7.33%/yr for VTMFX. Their correlation of 0.93 suggests significant overlap in exposure. FIKZX charges 0.55%/yr vs 0.09%/yr for VTMFX.

Performance

FIKZX vs. VTMFX - 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 Vanguard Tax-Managed Balanced Fund Admiral Shares (VTMFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FIKZX achieves a 9.04% return, which is significantly higher than VTMFX's 6.03% return.

FIKZX

• 1D: 0.38%
• 1M: 3.32%
• YTD: 9.04%
• 6M: 9.73%
• 1Y: 20.80%
• 3Y*: 14.09%
• 5Y*: 7.04%
• 10Y*: —

VTMFX

• 1D: 0.17%
• 1M: 3.06%
• YTD: 6.03%
• 6M: 6.16%
• 1Y: 16.91%
• 3Y*: 12.75%
• 5Y*: 7.33%
• 10Y*: 8.70%

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

FIKZX vs. VTMFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FIKZX Fidelity Advisor Asset Manager 50% Fund Class Z	9.04%	15.04%	11.18%	13.17%	-14.90%	9.98%	14.79%	18.32%	-6.94%
VTMFX Vanguard Tax-Managed Balanced Fund Admiral Shares	6.03%	11.28%	12.17%	15.55%	-12.69%	13.10%	13.31%	18.01%	-5.47%

Correlation

The correlation between FIKZX and VTMFX is 0.93, 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	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (All Time) Calculated using the full available price history since Oct 5, 2018	0.93

The correlation between FIKZX and VTMFX has been stable across timeframes, ranging from 0.91 to 0.93 - a consistent structural relationship.

Return for Risk

FIKZX vs. VTMFX — Risk / Return Rank

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

FIKZX

FIKZX Risk / Return Rank: 79
FIKZX Sharpe Ratio Rank: 81
FIKZX Sortino Ratio Rank: 79
FIKZX Omega Ratio Rank: 78
FIKZX Calmar Ratio Rank: 75
FIKZX Martin Ratio Rank: 80

VTMFX

VTMFX Risk / Return Rank: 81
VTMFX Sharpe Ratio Rank: 87
VTMFX Sortino Ratio Rank: 86
VTMFX Omega Ratio Rank: 83
VTMFX Calmar Ratio Rank: 69
VTMFX Martin Ratio Rank: 82

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.

FIKZX vs. VTMFX - 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 Vanguard Tax-Managed Balanced Fund Admiral Shares (VTMFX). 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.

	FIKZX	VTMFX	Difference
Sharpe ratio: Return per unit of total volatility	2.66	2.83	-0.17
Sortino ratio: Return per unit of downside risk	3.80	4.05	-0.25
Omega ratio: Gain probability vs. loss probability	1.51	1.55	-0.03
Calmar ratio: Return relative to maximum drawdown	3.42	3.22	+0.20
Martin ratio: Return relative to average drawdown	14.99	15.40	-0.41
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FIKZX vs. VTMFX - Sharpe Ratio Comparison

The current FIKZX Sharpe Ratio is 2.66, which is comparable to the VTMFX Sharpe Ratio of 2.83. The chart below compares the historical Sharpe Ratios of FIKZX and VTMFX, 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

	FIKZX	VTMFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.66	2.83	-0.17
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.76	0.86	-0.11
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.96	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.83	0.85	-0.01

Drawdowns

FIKZX vs. VTMFX - Drawdown Comparison

The maximum FIKZX drawdown since its inception was -21.28%, smaller than the maximum VTMFX drawdown of -28.49%. Use the drawdown chart below to compare losses from any high point for FIKZX and VTMFX.

Drawdown Indicators

	FIKZX	VTMFX	Difference
Max Drawdown Largest peak-to-trough decline	-21.28%	-28.49%	+7.21%
Max Drawdown (1Y) Largest decline over 1 year	-6.17%	-5.38%	-0.79%
Max Drawdown (3Y) Largest decline over 3 years	-9.23%	-10.61%	+1.38%
Max Drawdown (5Y) Largest decline over 5 years	-20.48%	-17.40%	-3.08%
Max Drawdown (10Y) Largest decline over 10 years	—	-21.87%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-4.20%	-3.55%	-0.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.40%	1.12%	+0.28%

Volatility

FIKZX vs. VTMFX - Volatility Comparison

Fidelity Advisor Asset Manager 50% Fund Class Z (FIKZX) has a higher volatility of 2.68% compared to Vanguard Tax-Managed Balanced Fund Admiral Shares (VTMFX) at 1.70%. This indicates that FIKZX's price experiences larger fluctuations and is considered to be riskier than VTMFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FIKZX	VTMFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.68%	1.70%	+0.98%
Volatility (6M) Calculated over the trailing 6-month period	6.51%	4.75%	+1.76%
Volatility (1Y) Calculated over the trailing 1-year period	7.92%	6.13%	+1.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.35%	8.52%	+0.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.23%	9.12%	+1.11%

FIKZX vs. VTMFX - Expense Ratio Comparison

FIKZX has a 0.55% expense ratio, which is higher than VTMFX's 0.09% expense ratio.

Dividends

FIKZX vs. VTMFX - Dividend Comparison

FIKZX's dividend yield for the trailing twelve months is around 7.04%, more than VTMFX's 2.10% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIKZX Fidelity Advisor Asset Manager 50% Fund Class Z	7.04%	7.70%	6.33%	2.27%	6.90%	3.00%	2.48%	4.30%	4.60%	0.00%	0.00%	0.00%
VTMFX Vanguard Tax-Managed Balanced Fund Admiral Shares	2.10%	2.14%	2.08%	1.94%	1.85%	1.38%	1.72%	2.05%	2.22%	2.00%	2.13%	2.06%

Frequently Asked Questions

Can I hold both FIKZX and VTMFX in my portfolio?

With a correlation of 0.93, FIKZX and VTMFX 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.

Which is riskier, FIKZX or VTMFX?

FIKZX has higher volatility (2.68%) compared to VTMFX (1.70%). In terms of maximum drawdown, FIKZX dropped -21.28% vs VTMFX's -28.49%.

Which has better risk-adjusted returns?

VTMFX currently has the higher Sharpe Ratio (2.83 vs 2.66), 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.