FIQWX vs. VTMFX

Last updated Jun 26, 2026

FIQWX (Fidelity Advisor Strategic Dividend & Income Fund Class Z) and VTMFX (Vanguard Tax-Managed Balanced Fund Admiral Shares) are both Diversified Portfolio funds. Over the past 5 years, FIQWX returned 7.77%/yr vs 6.76%/yr for VTMFX. Their correlation of 0.87 suggests significant overlap in exposure. FIQWX charges 0.59%/yr vs 0.05%/yr for VTMFX.

Performance

FIQWX vs. VTMFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Strategic Dividend & Income Fund Class Z (FIQWX) 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, FIQWX achieves a 13.33% return, which is significantly higher than VTMFX's 4.54% return.

FIQWX

• 1D: 0.15%
• 1M: 0.46%
• YTD: 13.33%
• 6M: 12.53%
• 1Y: 23.53%
• 3Y*: 14.00%
• 5Y*: 7.77%
• 10Y*: —

VTMFX

• 1D: 0.04%
• 1M: -0.43%
• YTD: 4.54%
• 6M: 3.99%
• 1Y: 13.66%
• 3Y*: 11.83%
• 5Y*: 6.76%
• 10Y*: 8.63%

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

FIQWX vs. VTMFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FIQWX Fidelity Advisor Strategic Dividend & Income Fund Class Z	13.33%	13.09%	7.76%	9.60%	-9.79%	19.14%	11.40%	22.61%	-7.06%
VTMFX Vanguard Tax-Managed Balanced Fund Admiral Shares	4.54%	11.28%	12.17%	15.55%	-12.69%	13.10%	13.31%	18.01%	-5.47%

Correlation

The correlation between FIQWX and VTMFX is 0.70, 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	0.70
Correlation (3Y) Calculated over the trailing 3-year period	0.78
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (All Time) Calculated using the full available price history since Oct 5, 2018	0.87

The correlation between FIQWX and VTMFX shifts across timeframes, from 0.70 (1 year) to 0.87 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FIQWX vs. VTMFX — Risk / Return Rank

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

FIQWX

FIQWX Risk / Return Rank: 90
FIQWX Sharpe Ratio Rank: 93
FIQWX Sortino Ratio Rank: 89
FIQWX Omega Ratio Rank: 86
FIQWX Calmar Ratio Rank: 90
FIQWX Martin Ratio Rank: 93

VTMFX

VTMFX Risk / Return Rank: 71
VTMFX Sharpe Ratio Rank: 74
VTMFX Sortino Ratio Rank: 73
VTMFX Omega Ratio Rank: 74
VTMFX Calmar Ratio Rank: 58
VTMFX Martin Ratio Rank: 74

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.

FIQWX vs. VTMFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Strategic Dividend & Income Fund Class Z (FIQWX) 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.

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.

	FIQWX	VTMFX	Difference
Sharpe ratio: Return per unit of total volatility	2.70	2.12	+0.58
Sortino ratio: Return per unit of downside risk	3.78	2.99	+0.80
Omega ratio: Gain probability vs. loss probability	1.50	1.40	+0.10
Calmar ratio: Return relative to maximum drawdown	3.94	2.54	+1.40
Martin ratio: Return relative to average drawdown	16.50	11.82	+4.68

FIQWX vs. VTMFX - Sharpe Ratio Comparison

The current FIQWX Sharpe Ratio is 2.70, which is comparable to the VTMFX Sharpe Ratio of 2.12. The chart below compares the historical Sharpe Ratios of FIQWX 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.

Drawdowns

FIQWX vs. VTMFX - Drawdown Comparison

The maximum FIQWX drawdown since its inception was -30.01%, which is greater than VTMFX's maximum drawdown of -28.49%. Use the drawdown chart below to compare losses from any high point for FIQWX and VTMFX.

Drawdown Indicators

	FIQWX	VTMFX	Difference
Max Drawdown Largest peak-to-trough decline	-30.01%	-28.49%	-1.52%
Max Drawdown (1Y) Largest decline over 1 year	-5.78%	-5.38%	-0.40%
Max Drawdown (3Y) Largest decline over 3 years	-15.51%	-10.61%	-4.90%
Max Drawdown (5Y) Largest decline over 5 years	-17.02%	-17.40%	+0.38%
Max Drawdown (10Y) Largest decline over 10 years	—	-21.87%	—
Current Drawdown Current decline from peak	-0.35%	-1.41%	+1.06%
Average Drawdown Average peak-to-trough decline	-3.82%	-3.54%	-0.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.38%	1.16%	+0.22%

Volatility

FIQWX vs. VTMFX - Volatility Comparison

Fidelity Advisor Strategic Dividend & Income Fund Class Z (FIQWX) and Vanguard Tax-Managed Balanced Fund Admiral Shares (VTMFX) have volatilities of 2.51% and 2.55%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FIQWX	VTMFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.51%	2.55%	-0.04%
Volatility (6M) Calculated over the trailing 6-month period	6.52%	5.21%	+1.31%
Volatility (1Y) Calculated over the trailing 1-year period	8.44%	6.48%	+1.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.11%	8.57%	+2.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.63%	9.14%	+4.49%

FIQWX vs. VTMFX - Expense Ratio Comparison

FIQWX has a 0.59% expense ratio, which is higher than VTMFX's 0.05% expense ratio.

Dividends

FIQWX vs. VTMFX - Dividend Comparison

FIQWX's dividend yield for the trailing twelve months is around 7.15%, more than VTMFX's 2.13% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIQWX Fidelity Advisor Strategic Dividend & Income Fund Class Z	7.15%	8.05%	1.79%	5.83%	4.35%	8.55%	5.79%	6.81%	6.85%	0.00%	0.00%	0.00%
VTMFX Vanguard Tax-Managed Balanced Fund Admiral Shares	2.13%	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 FIQWX and VTMFX in my portfolio?

FIQWX and VTMFX have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FIQWX or VTMFX?

VTMFX has higher volatility (2.55%) compared to FIQWX (2.51%). In terms of maximum drawdown, FIQWX dropped -30.01% vs VTMFX's -28.49%.

Which has better risk-adjusted returns?

FIQWX currently has the higher Sharpe Ratio (2.70 vs 2.12), 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.