FMSDX vs. TAIFX
FMSDX (Fidelity Multi-Asset Income Fund) and TAIFX (American Funds Tax-Aware Conservative Growth & Income Portfolio F1) are both Diversified Portfolio funds. Over the past 5 years, FMSDX returned 5.70%/yr vs 6.63%/yr for TAIFX. Their correlation of 0.84 suggests significant overlap in exposure. FMSDX charges 0.78%/yr vs 0.70%/yr for TAIFX.
Performance
FMSDX vs. TAIFX - Performance Comparison
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Returns By Period
In the year-to-date period, FMSDX achieves a 6.10% return, which is significantly higher than TAIFX's 5.74% return.
FMSDX
- 1D
- 1.76%
- 1M
- -2.34%
- YTD
- 6.10%
- 6M
- 5.35%
- 1Y
- 16.87%
- 3Y*
- 12.02%
- 5Y*
- 5.70%
- 10Y*
- —
TAIFX
- 1D
- 1.08%
- 1M
- 0.68%
- YTD
- 5.74%
- 6M
- 6.46%
- 1Y
- 14.61%
- 3Y*
- 12.29%
- 5Y*
- 6.63%
- 10Y*
- 7.79%
FMSDX vs. TAIFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FMSDX Fidelity Multi-Asset Income Fund | 6.10% | 14.10% | 9.95% | 11.75% | -13.67% | 17.27% | 14.56% | 23.14% | -0.91% |
TAIFX American Funds Tax-Aware Conservative Growth & Income Portfolio F1 | 5.74% | 13.74% | 9.96% | 11.78% | -10.23% | 12.35% | 7.41% | 15.90% | -2.84% |
Correlation
The correlation between FMSDX and TAIFX is 0.78, 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 | 0.78 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.78 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since Feb 26, 2018 | 0.84 |
The correlation between FMSDX and TAIFX has been stable across timeframes, ranging from 0.78 to 0.84 - a consistent structural relationship.
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Return for Risk
FMSDX vs. TAIFX — Risk / Return Rank
FMSDX
TAIFX
FMSDX vs. TAIFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Multi-Asset Income Fund (FMSDX) and American Funds Tax-Aware Conservative Growth & Income Portfolio F1 (TAIFX). 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.
| FMSDX | TAIFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.57 | ||
| Sortino ratioReturn per unit of downside risk | -0.89 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.45 | -0.14 |
| Calmar ratioReturn relative to maximum drawdown | 2.73 | 2.57 | +0.16 |
| Martin ratioReturn relative to average drawdown | 9.14 | 11.61 | -2.46 |
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Drawdowns
FMSDX vs. TAIFX - Drawdown Comparison
The maximum FMSDX drawdown since its inception was -21.64%, roughly equal to the maximum TAIFX drawdown of -21.43%. Use the drawdown chart below to compare losses from any high point for FMSDX and TAIFX.
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Drawdown Indicators
| FMSDX | TAIFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.64% | -21.43% | -0.21% |
Max Drawdown (1Y)Largest decline over 1 year | -6.47% | -5.85% | -0.62% |
Max Drawdown (3Y)Largest decline over 3 years | -13.17% | -8.35% | -4.82% |
Max Drawdown (5Y)Largest decline over 5 years | -18.12% | -16.79% | -1.33% |
Max Drawdown (10Y)Largest decline over 10 years | — | -21.43% | — |
Current DrawdownCurrent decline from peak | -2.86% | -0.73% | -2.13% |
Average DrawdownAverage peak-to-trough decline | -3.81% | -2.20% | -1.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.93% | 1.29% | +0.64% |
Volatility
FMSDX vs. TAIFX - Volatility Comparison
Fidelity Multi-Asset Income Fund (FMSDX) has a higher volatility of 3.98% compared to American Funds Tax-Aware Conservative Growth & Income Portfolio F1 (TAIFX) at 2.58%. This indicates that FMSDX's price experiences larger fluctuations and is considered to be riskier than TAIFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FMSDX | TAIFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.98% | 2.58% | +1.40% |
Volatility (6M)Calculated over the trailing 6-month period | 8.02% | 5.59% | +2.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.42% | 6.63% | +3.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.91% | 7.64% | +2.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.64% | 8.18% | +2.46% |
FMSDX vs. TAIFX - Expense Ratio Comparison
FMSDX has a 0.78% expense ratio, which is higher than TAIFX's 0.70% expense ratio.
Dividends
FMSDX vs. TAIFX - Dividend Comparison
FMSDX's dividend yield for the trailing twelve months is around 3.55%, less than TAIFX's 5.13% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FMSDX Fidelity Multi-Asset Income Fund | 3.55% | 3.81% | 3.84% | 4.23% | 3.74% | 2.81% | 1.79% | 2.82% | 4.36% | 0.00% | 0.00% | 0.00% |
TAIFX American Funds Tax-Aware Conservative Growth & Income Portfolio F1 | 5.13% | 5.50% | 5.11% | 4.25% | 4.32% | 2.40% | 2.60% | 3.72% | 4.52% | 4.08% | 3.57% | 3.41% |
Frequently Asked Questions
FMSDX and TAIFX have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FMSDX has higher volatility (3.98%) compared to TAIFX (2.58%). In terms of maximum drawdown, FMSDX dropped -21.64% vs TAIFX's -21.43%.
TAIFX currently has the higher Sharpe Ratio (2.27 vs 1.70), 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.
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