FIQAX vs. BWBIX

Last updated Jun 4, 2026

FIQAX (Fidelity Advisor Asset Manager 60% Fund Class Z) and BWBIX (Baron WealthBuilder Fund) are both Diversified Portfolio funds. Over the past 5 years, FIQAX returned 7.42%/yr vs 4.59%/yr for BWBIX. Their correlation of 0.88 suggests significant overlap in exposure. FIQAX charges 0.62%/yr vs 0.05%/yr for BWBIX.

Performance

FIQAX vs. BWBIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Asset Manager 60% Fund Class Z (FIQAX) and Baron WealthBuilder Fund (BWBIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FIQAX achieves a 10.39% return, which is significantly higher than BWBIX's 0.74% return.

FIQAX

• 1D: 0.43%
• 1M: 3.87%
• YTD: 10.39%
• 6M: 11.21%
• 1Y: 23.55%
• 3Y*: 14.77%
• 5Y*: 7.42%
• 10Y*: —

BWBIX

• 1D: -1.04%
• 1M: 4.14%
• YTD: 0.74%
• 6M: 5.76%
• 1Y: 11.63%
• 3Y*: 13.94%
• 5Y*: 4.59%
• 10Y*: —

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

FIQAX vs. BWBIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FIQAX Fidelity Advisor Asset Manager 60% Fund Class Z	10.39%	16.70%	9.53%	14.82%	-16.13%	12.00%	16.13%	20.73%	-10.66%
BWBIX Baron WealthBuilder Fund	0.74%	10.23%	19.62%	25.77%	-32.58%	14.76%	62.85%	36.41%	-10.67%

Correlation

The correlation between FIQAX and BWBIX is 0.76, 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	0.76
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (All Time) Calculated using the full available price history since Oct 18, 2018	0.88

The correlation between FIQAX and BWBIX shifts across timeframes, from 0.76 (1 year) to 0.88 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FIQAX vs. BWBIX — Risk / Return Rank

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

FIQAX

FIQAX Risk / Return Rank: 77
FIQAX Sharpe Ratio Rank: 79
FIQAX Sortino Ratio Rank: 76
FIQAX Omega Ratio Rank: 75
FIQAX Calmar Ratio Rank: 75
FIQAX Martin Ratio Rank: 79

BWBIX

BWBIX Risk / Return Rank: 11
BWBIX Sharpe Ratio Rank: 11
BWBIX Sortino Ratio Rank: 12
BWBIX Omega Ratio Rank: 11
BWBIX Calmar Ratio Rank: 11
BWBIX Martin Ratio Rank: 12

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.

FIQAX vs. BWBIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Asset Manager 60% Fund Class Z (FIQAX) and Baron WealthBuilder Fund (BWBIX). 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.

	FIQAX	BWBIX	Difference
Sharpe ratio: Return per unit of total volatility	2.61	0.85	+1.76
Sortino ratio: Return per unit of downside risk	3.68	1.37	+2.32
Omega ratio: Gain probability vs. loss probability	1.50	1.16	+0.34
Calmar ratio: Return relative to maximum drawdown	3.39	1.05	+2.34
Martin ratio: Return relative to average drawdown	14.85	3.47	+11.38
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FIQAX vs. BWBIX - Sharpe Ratio Comparison

The current FIQAX Sharpe Ratio is 2.61, which is higher than the BWBIX Sharpe Ratio of 0.85. The chart below compares the historical Sharpe Ratios of FIQAX and BWBIX, 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

	FIQAX	BWBIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.61	0.85	+1.76
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.69	0.22	+0.47
Sharpe Ratio (All Time) Calculated using the full available price history	0.73	0.53	+0.20

Drawdowns

FIQAX vs. BWBIX - Drawdown Comparison

The maximum FIQAX drawdown since its inception was -24.37%, smaller than the maximum BWBIX drawdown of -39.14%. Use the drawdown chart below to compare losses from any high point for FIQAX and BWBIX.

Drawdown Indicators

	FIQAX	BWBIX	Difference
Max Drawdown Largest peak-to-trough decline	-24.37%	-39.14%	+14.77%
Max Drawdown (1Y) Largest decline over 1 year	-7.05%	-11.65%	+4.60%
Max Drawdown (3Y) Largest decline over 3 years	-10.95%	-21.59%	+10.64%
Max Drawdown (5Y) Largest decline over 5 years	-22.36%	-39.14%	+16.78%
Current Drawdown Current decline from peak	0.00%	-1.26%	+1.26%
Average Drawdown Average peak-to-trough decline	-4.72%	-11.72%	+7.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.61%	3.53%	-1.92%

Volatility

FIQAX vs. BWBIX - Volatility Comparison

The current volatility for Fidelity Advisor Asset Manager 60% Fund Class Z (FIQAX) is 3.01%, while Baron WealthBuilder Fund (BWBIX) has a volatility of 3.38%. This indicates that FIQAX experiences smaller price fluctuations and is considered to be less risky than BWBIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FIQAX	BWBIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.01%	3.38%	-0.37%
Volatility (6M) Calculated over the trailing 6-month period	7.49%	10.99%	-3.50%
Volatility (1Y) Calculated over the trailing 1-year period	9.14%	14.36%	-5.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.80%	21.08%	-10.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.11%	23.14%	-11.03%

FIQAX vs. BWBIX - Expense Ratio Comparison

FIQAX has a 0.62% expense ratio, which is higher than BWBIX's 0.05% expense ratio.

Dividends

FIQAX vs. BWBIX - Dividend Comparison

FIQAX's dividend yield for the trailing twelve months is around 5.41%, less than BWBIX's 7.55% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
BWBIX Baron WealthBuilder Fund	7.55%	7.61%	0.77%	0.06%	3.21%	3.75%	1.24%	3.51%	0.14%
FIQAX Fidelity Advisor Asset Manager 60% Fund Class Z	5.41%	5.97%	3.39%	2.01%	4.53%	2.65%	1.94%	4.22%	0.00%

Frequently Asked Questions

Can I hold both FIQAX and BWBIX in my portfolio?

FIQAX and BWBIX have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FIQAX or BWBIX?

BWBIX has higher volatility (3.38%) compared to FIQAX (3.01%). In terms of maximum drawdown, FIQAX dropped -24.37% vs BWBIX's -39.14%.

Which has better risk-adjusted returns?

FIQAX currently has the higher Sharpe Ratio (2.61 vs 0.85), 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.