FLCSX vs. FBALX

Last updated Jun 4, 2026

FLCSX (Fidelity Large Cap Stock Fund) and FBALX (Fidelity Balanced Fund) are both mutual funds - FLCSX is a Large Cap Value Equities fund managed by Fidelity, while FBALX is a Diversified Portfolio fund actively managed by Fidelity. Over the past 10 years, FLCSX returned 15.32%/yr vs 11.77%/yr for FBALX. Their correlation of 0.92 suggests significant overlap in exposure. FLCSX charges 0.54%/yr vs 0.46%/yr for FBALX.

Performance

FLCSX vs. FBALX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Large Cap Stock Fund (FLCSX) 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, FLCSX achieves a 9.75% return, which is significantly lower than FBALX's 10.30% return. Over the past 10 years, FLCSX has outperformed FBALX with an annualized return of 15.32%, while FBALX has yielded a comparatively lower 11.77% annualized return.

FLCSX

• 1D: -0.25%
• 1M: 3.26%
• YTD: 9.75%
• 6M: 11.60%
• 1Y: 30.76%
• 3Y*: 25.44%
• 5Y*: 15.93%
• 10Y*: 15.32%

FBALX

• 1D: 0.23%
• 1M: 4.04%
• YTD: 10.30%
• 6M: 10.50%
• 1Y: 24.95%
• 3Y*: 16.79%
• 5Y*: 9.51%
• 10Y*: 11.77%

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

FLCSX vs. FBALX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FLCSX Fidelity Large Cap Stock Fund	9.75%	27.49%	26.31%	23.51%	-8.02%	25.80%	9.05%	31.59%	-13.62%	17.86%
FBALX Fidelity Balanced Fund	10.30%	15.11%	16.09%	20.31%	-18.29%	18.27%	22.45%	24.40%	-3.98%	16.52%

Correlation

The correlation between FLCSX and FBALX 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	0.91
Correlation (10Y) Calculated over the trailing 10-year period	0.90
Correlation (All Time) Calculated using the full available price history since Jun 23, 1995	0.92

The correlation between FLCSX and FBALX has been stable across timeframes, ranging from 0.90 to 0.93 - a consistent structural relationship.

Return for Risk

FLCSX vs. FBALX — Risk / Return Rank

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

FLCSX

FLCSX Risk / Return Rank: 76
FLCSX Sharpe Ratio Rank: 80
FLCSX Sortino Ratio Rank: 74
FLCSX Omega Ratio Rank: 71
FLCSX Calmar Ratio Rank: 73
FLCSX Martin Ratio Rank: 81

FBALX

FBALX Risk / Return Rank: 87
FBALX Sharpe Ratio Rank: 90
FBALX Sortino Ratio Rank: 88
FBALX Omega Ratio Rank: 85
FBALX Calmar Ratio Rank: 84
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.

FLCSX vs. FBALX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Large Cap Stock Fund (FLCSX) 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.

	FLCSX	FBALX	Difference
Sharpe ratio: Return per unit of total volatility	2.60	2.97	-0.37
Sortino ratio: Return per unit of downside risk	3.59	4.18	-0.59
Omega ratio: Gain probability vs. loss probability	1.47	1.57	-0.10
Calmar ratio: Return relative to maximum drawdown	3.32	3.94	-0.62
Martin ratio: Return relative to average drawdown	15.16	18.87	-3.70
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FLCSX vs. FBALX - Sharpe Ratio Comparison

The current FLCSX Sharpe Ratio is 2.60, which is comparable to the FBALX Sharpe Ratio of 2.97. The chart below compares the historical Sharpe Ratios of FLCSX 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.

Sharpe Ratios by Period

	FLCSX	FBALX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.60	2.97	-0.37
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.95	0.79	+0.17
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.82	0.92	-0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.50	0.81	-0.31

Drawdowns

FLCSX vs. FBALX - Drawdown Comparison

The maximum FLCSX drawdown since its inception was -63.67%, which is greater than FBALX's maximum drawdown of -43.57%. Use the drawdown chart below to compare losses from any high point for FLCSX and FBALX.

Drawdown Indicators

	FLCSX	FBALX	Difference
Max Drawdown Largest peak-to-trough decline	-63.67%	-43.57%	-20.10%
Max Drawdown (1Y) Largest decline over 1 year	-9.55%	-6.47%	-3.08%
Max Drawdown (3Y) Largest decline over 3 years	-18.82%	-12.88%	-5.94%
Max Drawdown (5Y) Largest decline over 5 years	-21.69%	-22.89%	+1.20%
Max Drawdown (10Y) Largest decline over 10 years	-37.11%	-26.68%	-10.43%
Current Drawdown Current decline from peak	-0.25%	0.00%	-0.25%
Average Drawdown Average peak-to-trough decline	-13.82%	-4.37%	-9.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.08%	1.35%	+0.73%

Volatility

FLCSX vs. FBALX - Volatility Comparison

Fidelity Large Cap Stock Fund (FLCSX) has a higher volatility of 2.86% compared to Fidelity Balanced Fund (FBALX) at 2.58%. This indicates that FLCSX's price experiences larger fluctuations and is considered to be riskier than FBALX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLCSX	FBALX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.86%	2.58%	+0.28%
Volatility (6M) Calculated over the trailing 6-month period	9.31%	6.80%	+2.51%
Volatility (1Y) Calculated over the trailing 1-year period	12.19%	8.58%	+3.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.85%	12.18%	+4.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.66%	12.78%	+5.88%

FLCSX vs. FBALX - Expense Ratio Comparison

FLCSX has a 0.54% expense ratio, which is higher than FBALX's 0.46% expense ratio.

Dividends

FLCSX vs. FBALX - Dividend Comparison

FLCSX's dividend yield for the trailing twelve months is around 5.92%, more than FBALX's 5.14% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FBALX Fidelity Balanced Fund	5.14%	5.69%	5.67%	2.28%	8.06%	9.66%	5.90%	4.24%	10.99%	7.90%	3.07%	7.70%
FLCSX Fidelity Large Cap Stock Fund	5.92%	6.50%	4.26%	2.83%	3.07%	4.71%	3.93%	5.43%	7.63%	3.25%	3.61%	4.55%

Frequently Asked Questions

Can I hold both FLCSX and FBALX in my portfolio?

With a correlation of 0.93, FLCSX and FBALX 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, FLCSX or FBALX?

FLCSX has higher volatility (2.86%) compared to FBALX (2.58%). In terms of maximum drawdown, FLCSX dropped -63.67% vs FBALX's -43.57%.

Which has better risk-adjusted returns?

FBALX currently has the higher Sharpe Ratio (2.97 vs 2.60), 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.