FMTIX vs. SHAPX

Last updated Jun 4, 2026

FMTIX (Franklin Moderate Allocation Fund) and SHAPX (ClearBridge Appreciation Fund) are both mutual funds - FMTIX is a Diversified Portfolio fund managed by Franklin Templeton, while SHAPX is a Large Cap Blend Equities fund managed by Franklin Templeton. Over the past 10 years, FMTIX returned 8.16%/yr vs 13.25%/yr for SHAPX. Their correlation of 0.87 suggests significant overlap in exposure. FMTIX charges 0.63%/yr vs 0.93%/yr for SHAPX.

Performance

FMTIX vs. SHAPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Moderate Allocation Fund (FMTIX) and ClearBridge Appreciation Fund (SHAPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FMTIX achieves a 7.62% return, which is significantly higher than SHAPX's 6.04% return. Over the past 10 years, FMTIX has underperformed SHAPX with an annualized return of 8.16%, while SHAPX has yielded a comparatively higher 13.25% annualized return.

FMTIX

• 1D: 0.23%
• 1M: 3.55%
• YTD: 7.62%
• 6M: 8.12%
• 1Y: 19.24%
• 3Y*: 14.31%
• 5Y*: 6.99%
• 10Y*: 8.16%

SHAPX

• 1D: -0.05%
• 1M: 2.33%
• YTD: 6.04%
• 6M: 5.66%
• 1Y: 17.56%
• 3Y*: 17.64%
• 5Y*: 11.44%
• 10Y*: 13.25%

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

FMTIX vs. SHAPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FMTIX Franklin Moderate Allocation Fund	7.62%	15.05%	11.80%	14.38%	-16.11%	12.37%	12.36%	17.38%	-4.81%	13.50%
SHAPX ClearBridge Appreciation Fund	6.04%	14.32%	22.37%	19.50%	-12.56%	23.52%	14.53%	29.84%	-2.19%	18.31%

Correlation

The correlation between FMTIX and SHAPX is 0.92, 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	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (10Y) Calculated over the trailing 10-year period	0.90
Correlation (All Time) Calculated using the full available price history since Jan 2, 1997	0.87

The correlation between FMTIX and SHAPX has been stable across timeframes, ranging from 0.87 to 0.93 - a consistent structural relationship.

Return for Risk

FMTIX vs. SHAPX — Risk / Return Rank

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

FMTIX

FMTIX Risk / Return Rank: 65
FMTIX Sharpe Ratio Rank: 66
FMTIX Sortino Ratio Rank: 65
FMTIX Omega Ratio Rank: 65
FMTIX Calmar Ratio Rank: 58
FMTIX Martin Ratio Rank: 69

SHAPX

SHAPX Risk / Return Rank: 37
SHAPX Sharpe Ratio Rank: 36
SHAPX Sortino Ratio Rank: 36
SHAPX Omega Ratio Rank: 36
SHAPX Calmar Ratio Rank: 31
SHAPX Martin Ratio Rank: 45

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.

FMTIX vs. SHAPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Moderate Allocation Fund (FMTIX) and ClearBridge Appreciation Fund (SHAPX). 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.

	FMTIX	SHAPX	Difference
Sharpe ratio: Return per unit of total volatility	2.39	1.73	+0.65
Sortino ratio: Return per unit of downside risk	3.38	2.50	+0.89
Omega ratio: Gain probability vs. loss probability	1.45	1.32	+0.13
Calmar ratio: Return relative to maximum drawdown	2.92	2.07	+0.85
Martin ratio: Return relative to average drawdown	13.30	9.48	+3.82
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FMTIX vs. SHAPX - Sharpe Ratio Comparison

The current FMTIX Sharpe Ratio is 2.39, which is higher than the SHAPX Sharpe Ratio of 1.73. The chart below compares the historical Sharpe Ratios of FMTIX and SHAPX, 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

	FMTIX	SHAPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.39	1.73	+0.65
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.57	0.77	-0.20
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.74	0.79	-0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.64	0.79	-0.16

Drawdowns

FMTIX vs. SHAPX - Drawdown Comparison

The maximum FMTIX drawdown since its inception was -32.01%, smaller than the maximum SHAPX drawdown of -46.19%. Use the drawdown chart below to compare losses from any high point for FMTIX and SHAPX.

Drawdown Indicators

	FMTIX	SHAPX	Difference
Max Drawdown Largest peak-to-trough decline	-32.01%	-46.19%	+14.18%
Max Drawdown (1Y) Largest decline over 1 year	-6.66%	-8.74%	+2.08%
Max Drawdown (3Y) Largest decline over 3 years	-10.81%	-16.15%	+5.34%
Max Drawdown (5Y) Largest decline over 5 years	-29.19%	-20.53%	-8.66%
Max Drawdown (10Y) Largest decline over 10 years	-29.19%	-32.21%	+3.02%
Current Drawdown Current decline from peak	0.00%	-0.49%	+0.49%
Average Drawdown Average peak-to-trough decline	-6.41%	-4.78%	-1.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.46%	1.91%	-0.45%

Volatility

FMTIX vs. SHAPX - Volatility Comparison

Franklin Moderate Allocation Fund (FMTIX) and ClearBridge Appreciation Fund (SHAPX) have volatilities of 2.40% and 2.46%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FMTIX	SHAPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.40%	2.46%	-0.06%
Volatility (6M) Calculated over the trailing 6-month period	6.63%	7.90%	-1.27%
Volatility (1Y) Calculated over the trailing 1-year period	8.16%	10.46%	-2.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.33%	14.86%	-2.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.13%	16.73%	-5.60%

FMTIX vs. SHAPX - Expense Ratio Comparison

FMTIX has a 0.63% expense ratio, which is lower than SHAPX's 0.93% expense ratio.

Dividends

FMTIX vs. SHAPX - Dividend Comparison

FMTIX's dividend yield for the trailing twelve months is around 8.01%, less than SHAPX's 13.27% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FMTIX Franklin Moderate Allocation Fund	8.01%	8.79%	2.24%	2.61%	4.25%	12.93%	4.35%	9.38%	9.15%	4.65%	2.24%	5.42%
SHAPX ClearBridge Appreciation Fund	13.27%	14.08%	9.00%	4.17%	8.85%	6.54%	4.13%	7.09%	6.71%	5.10%	3.29%	4.76%

Frequently Asked Questions

Can I hold both FMTIX and SHAPX in my portfolio?

With a correlation of 0.92, FMTIX and SHAPX 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, FMTIX or SHAPX?

SHAPX has higher volatility (2.46%) compared to FMTIX (2.40%). In terms of maximum drawdown, FMTIX dropped -32.01% vs SHAPX's -46.19%.

Which has better risk-adjusted returns?

FMTIX currently has the higher Sharpe Ratio (2.39 vs 1.73), 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.