FKIQX vs. FBALX

Last updated Jun 24, 2026

FKIQX (Franklin Income Fund Class A) and FBALX (Fidelity Balanced Fund) are both Diversified Portfolio funds. Both are actively managed. Over the past 5 years, FKIQX returned 6.19%/yr vs 9.12%/yr for FBALX. A 0.72 correlation means they provide meaningful diversification when combined. FKIQX charges 0.71%/yr vs 0.46%/yr for FBALX.

Performance

FKIQX vs. FBALX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Income Fund Class A (FKIQX) and Fidelity Balanced Fund (FBALX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FKIQX achieves a 4.30% return, which is significantly lower than FBALX's 9.80% return.

FKIQX

• 1D: -0.39%
• 1M: -0.74%
• YTD: 4.30%
• 6M: 4.30%
• 1Y: 12.40%
• 3Y*: 9.61%
• 5Y*: 6.19%
• 10Y*: —

FBALX

• 1D: -0.37%
• 1M: 1.03%
• YTD: 9.80%
• 6M: 9.32%
• 1Y: 22.66%
• 3Y*: 16.25%
• 5Y*: 9.12%
• 10Y*: 11.98%

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

FKIQX vs. FBALX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FKIQX Franklin Income Fund Class A	4.30%	11.66%	7.04%	8.57%	-5.59%	17.58%	3.46%	15.69%	-6.59%
FBALX Fidelity Balanced Fund	9.80%	15.11%	16.09%	20.31%	-18.29%	18.27%	22.45%	24.40%	-9.67%

Correlation

The correlation between FKIQX and FBALX is 0.53, 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	0.53
Correlation (3Y) Calculated over the trailing 3-year period	0.58
Correlation (5Y) Calculated over the trailing 5-year period	0.69
Correlation (All Time) Calculated using the full available price history since Sep 10, 2018	0.72

The correlation between FKIQX and FBALX shifts across timeframes, from 0.53 (1 year) to 0.72 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FKIQX vs. FBALX — Risk / Return Rank

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

FKIQX

FKIQX Risk / Return Rank: 86
FKIQX Sharpe Ratio Rank: 83
FKIQX Sortino Ratio Rank: 86
FKIQX Omega Ratio Rank: 87
FKIQX Calmar Ratio Rank: 88
FKIQX Martin Ratio Rank: 88

FBALX

FBALX Risk / Return Rank: 85
FBALX Sharpe Ratio Rank: 86
FBALX Sortino Ratio Rank: 82
FBALX Omega Ratio Rank: 81
FBALX Calmar Ratio Rank: 83
FBALX Martin Ratio Rank: 91

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.

FKIQX vs. FBALX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Income Fund Class A (FKIQX) and Fidelity Balanced Fund (FBALX). 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.

	FKIQX	FBALX	Difference
Sharpe ratio: Return per unit of total volatility	2.49	2.58	-0.09
Sortino ratio: Return per unit of downside risk	3.79	3.58	+0.21
Omega ratio: Gain probability vs. loss probability	1.57	1.49	+0.08
Calmar ratio: Return relative to maximum drawdown	4.07	3.65	+0.42
Martin ratio: Return relative to average drawdown	15.79	17.07	-1.28

FKIQX vs. FBALX - Sharpe Ratio Comparison

The current FKIQX Sharpe Ratio is 2.49, which is comparable to the FBALX Sharpe Ratio of 2.58. The chart below compares the historical Sharpe Ratios of FKIQX and FBALX, 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

FKIQX vs. FBALX - Drawdown Comparison

The maximum FKIQX drawdown since its inception was -25.31%, smaller than the maximum FBALX drawdown of -43.57%. Use the drawdown chart below to compare losses from any high point for FKIQX and FBALX.

Drawdown Indicators

	FKIQX	FBALX	Difference
Max Drawdown Largest peak-to-trough decline	-25.31%	-43.57%	+18.26%
Max Drawdown (1Y) Largest decline over 1 year	-3.06%	-6.47%	+3.41%
Max Drawdown (3Y) Largest decline over 3 years	-7.47%	-12.88%	+5.41%
Max Drawdown (5Y) Largest decline over 5 years	-13.70%	-22.89%	+9.19%
Max Drawdown (10Y) Largest decline over 10 years	—	-26.68%	—
Current Drawdown Current decline from peak	-1.17%	-0.51%	-0.66%
Average Drawdown Average peak-to-trough decline	-2.88%	-4.37%	+1.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.79%	1.38%	-0.59%

Volatility

FKIQX vs. FBALX - Volatility Comparison

The current volatility for Franklin Income Fund Class A (FKIQX) is 1.50%, while Fidelity Balanced Fund (FBALX) has a volatility of 3.67%. This indicates that FKIQX experiences smaller price fluctuations and is considered to be less risky than FBALX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FKIQX	FBALX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.50%	3.67%	-2.17%
Volatility (6M) Calculated over the trailing 6-month period	3.71%	7.48%	-3.77%
Volatility (1Y) Calculated over the trailing 1-year period	5.01%	9.18%	-4.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.85%	12.26%	-4.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.09%	12.82%	-2.73%

FKIQX vs. FBALX - Expense Ratio Comparison

FKIQX has a 0.71% expense ratio, which is higher than FBALX's 0.46% expense ratio.

Dividends

FKIQX vs. FBALX - Dividend Comparison

FKIQX's dividend yield for the trailing twelve months is around 5.49%, more than FBALX's 5.16% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FBALX Fidelity Balanced Fund	5.16%	5.69%	5.67%	2.28%	8.06%	9.66%	5.90%	4.24%	10.99%	7.90%	3.07%	7.70%
FKIQX Franklin Income Fund Class A	5.49%	5.08%	5.52%	5.45%	5.35%	6.40%	5.14%	5.03%	1.38%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FKIQX and FBALX in my portfolio?

FKIQX and FBALX have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FKIQX or FBALX?

FBALX has higher volatility (3.67%) compared to FKIQX (1.50%). In terms of maximum drawdown, FKIQX dropped -25.31% vs FBALX's -43.57%.

Which has better risk-adjusted returns?

FBALX currently has the higher Sharpe Ratio (2.58 vs 2.49), 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.