FMRAX vs. FBALX

Last updated Jul 11, 2026

FMRAX (Fidelity Managed Retirement 2030) and FBALX (Fidelity Balanced Fund) are both mutual funds - FMRAX is a Target Retirement Date fund managed by BlackRock, while FBALX is a Diversified Portfolio fund actively managed by Fidelity. Their correlation of 0.91 suggests significant overlap in exposure. FMRAX charges 0.48%/yr vs 0.46%/yr for FBALX.

Performance

FMRAX vs. FBALX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Managed Retirement 2030 (FMRAX) and Fidelity Balanced Fund (FBALX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FMRAX

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

FBALX

• 1D: -0.17%
• 1M: 1.12%
• 6M: 8.61%
• YTD: 10.24%
• 1Y: 20.15%
• 3Y*: 16.06%
• 5Y*: 8.83%
• 10Y*: 11.58%

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

FMRAX vs. FBALX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FMRAX Fidelity Managed Retirement 2030	4.99%	14.35%	7.19%	12.51%	-16.27%	8.90%	13.83%	7.61%
FBALX Fidelity Balanced Fund	10.24%	15.11%	16.09%	20.31%	-18.29%	18.27%	22.45%	9.47%

Correlation

The correlation between FMRAX and FBALX is 0.85, 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	0.85
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (All Time) Calculated using the full available price history since Aug 27, 2019	0.91

The correlation between FMRAX and FBALX has been stable across timeframes, ranging from 0.85 to 0.91 - a consistent structural relationship.

Return for Risk

FMRAX vs. FBALX — Risk / Return Rank

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

FMRAX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

FBALX

FBALX Risk / Return Rank: 83
FBALX Sharpe Ratio Rank: 82
FBALX Sortino Ratio Rank: 80
FBALX Omega Ratio Rank: 81
FBALX Calmar Ratio Rank: 82
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.

FMRAX vs. FBALX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Managed Retirement 2030 (FMRAX) 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.

	FMRAX	FBALX	Difference
Sharpe ratio: Return per unit of total volatility	—	2.15	—
Sortino ratio: Return per unit of downside risk	—	3.02	—
Omega ratio: Gain probability vs. loss probability	—	1.41	—
Calmar ratio: Return relative to maximum drawdown	—	3.07	—
Martin ratio: Return relative to average drawdown	—	14.21	—

Drawdowns

Drawdown Indicators

	FMRAX	FBALX	Difference
Max Drawdown Largest peak-to-trough decline	—	-43.57%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-6.47%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-12.88%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-22.89%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-26.68%	—
Current Drawdown Current decline from peak	—	-0.31%	—
Average Drawdown Average peak-to-trough decline	—	-4.36%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.39%	—

Volatility

Volatility by Period

	FMRAX	FBALX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.27%	—
Volatility (6M) Calculated over the trailing 6-month period	—	7.59%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	9.23%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	12.26%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	12.78%	—

FMRAX vs. FBALX - Expense Ratio Comparison

FMRAX has a 0.48% expense ratio, which is higher than FBALX's 0.46% expense ratio.

Dividends

FMRAX vs. FBALX - Dividend Comparison

FMRAX's dividend yield for the trailing twelve months is around 2.73%, less than FBALX's 4.73% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FBALX Fidelity Balanced Fund	4.73%	5.69%	5.67%	2.28%	8.06%	9.66%	5.90%	4.24%	10.99%	7.90%	3.07%	7.70%
FMRAX Fidelity Managed Retirement 2030	2.66%	2.57%	2.50%	2.39%	4.02%	4.74%	3.01%	1.60%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FMRAX and FBALX in my portfolio?

FMRAX and FBALX have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.