FIQCX vs. ASFYX

Last updated Jun 23, 2026

FIQCX (Fidelity Advisor Asset Manager 85% Fund Class Z) and ASFYX (AlphaSimplex Managed Futures Strategy Fund Class Y) are both mutual funds - FIQCX is a Diversified Portfolio fund managed by BlackRock, while ASFYX is a Systematic Trend fund managed by BlackRock. Over the past 5 years, FIQCX returned 10.18%/yr vs 3.10%/yr for ASFYX. At a 0.13 correlation, their price movements are largely independent. FIQCX charges 0.62%/yr vs 1.47%/yr for ASFYX.

Performance

FIQCX vs. ASFYX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Asset Manager 85% Fund Class Z (FIQCX) and AlphaSimplex Managed Futures Strategy Fund Class Y (ASFYX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FIQCX achieves a 14.29% return, which is significantly higher than ASFYX's 11.24% return.

FIQCX

• 1D: 1.42%
• 1M: 2.51%
• YTD: 14.29%
• 6M: 14.38%
• 1Y: 30.93%
• 3Y*: 18.27%
• 5Y*: 10.18%
• 10Y*: —

ASFYX

• 1D: 0.47%
• 1M: -3.04%
• YTD: 11.24%
• 6M: 10.85%
• 1Y: 23.30%
• 3Y*: -2.79%
• 5Y*: 3.10%
• 10Y*: 2.59%

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

FIQCX vs. ASFYX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FIQCX Fidelity Advisor Asset Manager 85% Fund Class Z	14.29%	20.94%	12.67%	19.15%	-18.53%	17.26%	19.45%	26.32%	-9.86%
ASFYX AlphaSimplex Managed Futures Strategy Fund Class Y	11.24%	-9.67%	-3.22%	-10.33%	35.67%	3.52%	13.59%	8.99%	2.14%

Correlation

The correlation between FIQCX and ASFYX is 0.50, 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	0.50
Correlation (3Y) Calculated over the trailing 3-year period	0.36
Correlation (5Y) Calculated over the trailing 5-year period	0.16
Correlation (All Time) Calculated using the full available price history since Oct 17, 2018	0.13

Over the past year, FIQCX and ASFYX have become more correlated (0.50) than their long-term average of 0.13, meaning their price movements have been converging.

Return for Risk

FIQCX vs. ASFYX — Risk / Return Rank

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

FIQCX

FIQCX Risk / Return Rank: 76
FIQCX Sharpe Ratio Rank: 76
FIQCX Sortino Ratio Rank: 70
FIQCX Omega Ratio Rank: 72
FIQCX Calmar Ratio Rank: 77
FIQCX Martin Ratio Rank: 82

ASFYX

ASFYX Risk / Return Rank: 60
ASFYX Sharpe Ratio Rank: 49
ASFYX Sortino Ratio Rank: 43
ASFYX Omega Ratio Rank: 45
ASFYX Calmar Ratio Rank: 89
ASFYX Martin Ratio Rank: 76

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.

FIQCX vs. ASFYX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Asset Manager 85% Fund Class Z (FIQCX) and AlphaSimplex Managed Futures Strategy Fund Class Y (ASFYX). 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.

	FIQCX	ASFYX	Difference
Sharpe ratio: Return per unit of total volatility	2.34	1.90	+0.44
Sortino ratio: Return per unit of downside risk	3.19	2.53	+0.66
Omega ratio: Gain probability vs. loss probability	1.43	1.34	+0.10
Calmar ratio: Return relative to maximum drawdown	3.28	4.22	-0.93
Martin ratio: Return relative to average drawdown	14.24	13.32	+0.91

FIQCX vs. ASFYX - Sharpe Ratio Comparison

The current FIQCX Sharpe Ratio is 2.34, which is comparable to the ASFYX Sharpe Ratio of 1.90. The chart below compares the historical Sharpe Ratios of FIQCX and ASFYX, 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

FIQCX vs. ASFYX - Drawdown Comparison

The maximum FIQCX drawdown since its inception was -30.97%, smaller than the maximum ASFYX drawdown of -36.43%. Use the drawdown chart below to compare losses from any high point for FIQCX and ASFYX.

Drawdown Indicators

	FIQCX	ASFYX	Difference
Max Drawdown Largest peak-to-trough decline	-30.97%	-36.43%	+5.46%
Max Drawdown (1Y) Largest decline over 1 year	-9.34%	-5.43%	-3.91%
Max Drawdown (3Y) Largest decline over 3 years	-15.35%	-30.32%	+14.97%
Max Drawdown (5Y) Largest decline over 5 years	-25.94%	-36.43%	+10.49%
Max Drawdown (10Y) Largest decline over 10 years	—	-36.43%	—
Current Drawdown Current decline from peak	0.00%	-21.07%	+21.07%
Average Drawdown Average peak-to-trough decline	-5.46%	-13.20%	+7.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.15%	1.71%	+0.44%

Volatility

FIQCX vs. ASFYX - Volatility Comparison

Fidelity Advisor Asset Manager 85% Fund Class Z (FIQCX) has a higher volatility of 5.48% compared to AlphaSimplex Managed Futures Strategy Fund Class Y (ASFYX) at 3.67%. This indicates that FIQCX's price experiences larger fluctuations and is considered to be riskier than ASFYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FIQCX	ASFYX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.48%	3.67%	+1.81%
Volatility (6M) Calculated over the trailing 6-month period	11.00%	9.86%	+1.14%
Volatility (1Y) Calculated over the trailing 1-year period	13.09%	12.03%	+1.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.79%	13.77%	+1.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.71%	12.73%	+3.98%

FIQCX vs. ASFYX - Expense Ratio Comparison

FIQCX has a 0.62% expense ratio, which is lower than ASFYX's 1.47% expense ratio.

Dividends

FIQCX vs. ASFYX - Dividend Comparison

FIQCX's dividend yield for the trailing twelve months is around 5.02%, more than ASFYX's 1.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ASFYX AlphaSimplex Managed Futures Strategy Fund Class Y	1.37%	1.52%	1.46%	0.99%	32.48%	6.07%	3.40%	5.51%	1.30%	0.07%	0.01%	5.06%
FIQCX Fidelity Advisor Asset Manager 85% Fund Class Z	5.02%	5.74%	3.61%	1.43%	5.21%	3.30%	2.07%	5.66%	5.79%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FIQCX and ASFYX in my portfolio?

FIQCX and ASFYX have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FIQCX or ASFYX?

FIQCX has higher volatility (5.48%) compared to ASFYX (3.67%). In terms of maximum drawdown, FIQCX dropped -30.97% vs ASFYX's -36.43%.

Which has better risk-adjusted returns?

FIQCX currently has the higher Sharpe Ratio (2.34 vs 1.90), 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.