FMILX vs. FAMRX

Last updated Jun 5, 2026

FMILX (Fidelity New Millennium Fund) and FAMRX (Fidelity Asset Manager 85% Fund) are both mutual funds - FMILX is a Large Cap Value Equities fund managed by Fidelity, while FAMRX is a Diversified Portfolio fund managed by BlackRock. Over the past 10 years, FMILX returned 15.17%/yr vs 11.66%/yr for FAMRX. Their correlation of 0.92 suggests significant overlap in exposure. FMILX charges 0.59%/yr vs 0.70%/yr for FAMRX.

Performance

FMILX vs. FAMRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity New Millennium Fund (FMILX) and Fidelity Asset Manager 85% Fund (FAMRX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with FMILX having a 13.16% return and FAMRX slightly higher at 13.38%. Over the past 10 years, FMILX has outperformed FAMRX with an annualized return of 15.17%, while FAMRX has yielded a comparatively lower 11.66% annualized return.

FMILX

• 1D: 0.40%
• 1M: 5.31%
• YTD: 13.16%
• 6M: 9.62%
• 1Y: 24.54%
• 3Y*: 22.92%
• 5Y*: 15.35%
• 10Y*: 15.17%

FAMRX

• 1D: -0.67%
• 1M: 3.56%
• YTD: 13.38%
• 6M: 14.40%
• 1Y: 29.72%
• 3Y*: 18.82%
• 5Y*: 9.61%
• 10Y*: 11.66%

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

FMILX vs. FAMRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FMILX Fidelity New Millennium Fund	13.16%	12.97%	28.83%	25.37%	-1.56%	23.92%	5.73%	26.17%	-6.31%	19.00%
FAMRX Fidelity Asset Manager 85% Fund	13.38%	20.87%	12.60%	18.98%	-18.55%	17.10%	19.37%	26.26%	-9.21%	21.08%

Correlation

The correlation between FMILX and FAMRX 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	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (10Y) Calculated over the trailing 10-year period	0.90
Correlation (All Time) Calculated using the full available price history since Sep 27, 1999	0.92

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

Return for Risk

FMILX vs. FAMRX — Risk / Return Rank

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

FMILX

FMILX Risk / Return Rank: 35
FMILX Sharpe Ratio Rank: 37
FMILX Sortino Ratio Rank: 31
FMILX Omega Ratio Rank: 38
FMILX Calmar Ratio Rank: 32
FMILX Martin Ratio Rank: 34

FAMRX

FAMRX Risk / Return Rank: 71
FAMRX Sharpe Ratio Rank: 72
FAMRX Sortino Ratio Rank: 67
FAMRX Omega Ratio Rank: 67
FAMRX Calmar Ratio Rank: 71
FAMRX Martin Ratio Rank: 77

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.

FMILX vs. FAMRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity New Millennium Fund (FMILX) and Fidelity Asset Manager 85% Fund (FAMRX). 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.

	FMILX	FAMRX	Difference
Sharpe ratio: Return per unit of total volatility	1.77	2.48	-0.71
Sortino ratio: Return per unit of downside risk	2.34	3.41	-1.08
Omega ratio: Gain probability vs. loss probability	1.33	1.46	-0.12
Calmar ratio: Return relative to maximum drawdown	2.12	3.25	-1.13
Martin ratio: Return relative to average drawdown	7.69	14.44	-6.75
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FMILX vs. FAMRX - Sharpe Ratio Comparison

The current FMILX Sharpe Ratio is 1.77, which is comparable to the FAMRX Sharpe Ratio of 2.48. The chart below compares the historical Sharpe Ratios of FMILX and FAMRX, 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

	FMILX	FAMRX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.77	2.48	-0.71
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.91	0.66	+0.25
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.85	0.77	+0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.63	0.43	+0.21

Drawdowns

FMILX vs. FAMRX - Drawdown Comparison

The maximum FMILX drawdown since its inception was -58.56%, roughly equal to the maximum FAMRX drawdown of -58.65%. Use the drawdown chart below to compare losses from any high point for FMILX and FAMRX.

Drawdown Indicators

	FMILX	FAMRX	Difference
Max Drawdown Largest peak-to-trough decline	-58.56%	-58.65%	+0.09%
Max Drawdown (1Y) Largest decline over 1 year	-11.86%	-9.33%	-2.53%
Max Drawdown (3Y) Largest decline over 3 years	-20.48%	-15.35%	-5.13%
Max Drawdown (5Y) Largest decline over 5 years	-20.48%	-26.00%	+5.52%
Max Drawdown (10Y) Largest decline over 10 years	-38.92%	-30.96%	-7.96%
Current Drawdown Current decline from peak	0.00%	-0.67%	+0.67%
Average Drawdown Average peak-to-trough decline	-12.45%	-12.32%	-0.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.26%	2.10%	+1.16%

Volatility

FMILX vs. FAMRX - Volatility Comparison

The current volatility for Fidelity New Millennium Fund (FMILX) is 3.56%, while Fidelity Asset Manager 85% Fund (FAMRX) has a volatility of 3.90%. This indicates that FMILX experiences smaller price fluctuations and is considered to be less risky than FAMRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FMILX	FAMRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.56%	3.90%	-0.34%
Volatility (6M) Calculated over the trailing 6-month period	11.67%	9.94%	+1.73%
Volatility (1Y) Calculated over the trailing 1-year period	14.24%	12.27%	+1.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.89%	14.64%	+2.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.02%	15.26%	+2.76%

FMILX vs. FAMRX - Expense Ratio Comparison

FMILX has a 0.59% expense ratio, which is lower than FAMRX's 0.70% expense ratio.

Dividends

FMILX vs. FAMRX - Dividend Comparison

FMILX has not paid dividends to shareholders, while FAMRX's dividend yield for the trailing twelve months is around 4.90%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FAMRX Fidelity Asset Manager 85% Fund	4.90%	5.56%	3.44%	1.33%	5.07%	3.15%	1.99%	5.52%	5.62%	2.31%	0.28%	4.83%
FMILX Fidelity New Millennium Fund	0.00%	0.00%	3.64%	3.87%	4.19%	8.25%	8.60%	4.72%	18.25%	7.84%	6.65%	11.99%

Frequently Asked Questions

Can I hold both FMILX and FAMRX in my portfolio?

With a correlation of 0.93, FMILX and FAMRX 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, FMILX or FAMRX?

FAMRX has higher volatility (3.90%) compared to FMILX (3.56%). In terms of maximum drawdown, FMILX dropped -58.56% vs FAMRX's -58.65%.

Which has better risk-adjusted returns?

FAMRX currently has the higher Sharpe Ratio (2.48 vs 1.77), 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.