FMUAX vs. FBALX

Last updated Aug 1, 2026

FMUAX (Federated Hermes Municipal and Stock Advantage Fund) and FBALX (Fidelity Balanced Fund) are both Diversified Portfolio funds. Over the past 10 years, FMUAX returned 5.95%/yr vs 11.36%/yr for FBALX. Their correlation of 0.86 means they have usually moved in the same direction. FMUAX charges 1.00%/yr vs 0.46%/yr for FBALX.

Performance

FMUAX vs. FBALX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Federated Hermes Municipal and Stock Advantage Fund (FMUAX) 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, FMUAX achieves a 5.65% return, which is significantly lower than FBALX's 8.97% return. Over the past 10 years, FMUAX has underperformed FBALX with an annualized return of 5.95%, while FBALX has yielded a comparatively higher 11.36% annualized return.

FMUAX

• 1D: 0.60%
• 1M: -0.69%
• 6M: 4.11%
• YTD: 5.65%
• 1Y: 12.97%
• 3Y*: 9.05%
• 5Y*: 4.63%
• 10Y*: 5.95%
• ALL TIME*: 6.01%

FBALX

• 1D: 1.16%
• 1M: -0.98%
• 6M: 7.04%
• YTD: 8.97%
• 1Y: 18.20%
• 3Y*: 14.64%
• 5Y*: 8.55%
• 10Y*: 11.36%
• ALL TIME*: 9.08%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FBALX Fidelity Balanced Fund	$0.00	$0.00	$0.00
FMUAX Federated Hermes Municipal and Stock Advantage Fund	$0.00	$0.00	$0.00

FMUAX vs. FBALX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FMUAX Federated Hermes Municipal and Stock Advantage Fund	5.65%	9.00%	8.70%	9.81%	-10.68%	10.32%	8.48%	15.16%	-5.24%	11.09%
FBALX Fidelity Balanced Fund	8.97%	15.11%	16.09%	20.31%	-18.29%	18.27%	22.45%	24.40%	-3.98%	16.52%

Correlation

The correlation between FMUAX and FBALX is 0.76, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.76
Correlation (3Y) Balances recent behavior with more history.	0.78
Correlation (5Y) Shows whether the relationship held over a longer period.	0.84
Correlation (10Y) Provides a long-term view across more market conditions.	0.87
Correlation (All Time) Calculated using the full available price history since Sep 24, 2003	0.86

The correlation between FMUAX and FBALX shifts across timeframes, from 0.76 (1 year) to 0.87 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

FMUAX vs. FBALX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FMUAX

FMUAX Risk / Return Rank: 91
FMUAX Sharpe Ratio Rank: 93
FMUAX Sortino Ratio Rank: 94
FMUAX Omega Ratio Rank: 88
FMUAX Calmar Ratio Rank: 88
FMUAX Martin Ratio Rank: 94

FBALX

FBALX Risk / Return Rank: 81
FBALX Sharpe Ratio Rank: 79
FBALX Sortino Ratio Rank: 77
FBALX Omega Ratio Rank: 77
FBALX Calmar Ratio Rank: 82
FBALX Martin Ratio Rank: 90

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FMUAX vs. FBALX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Federated Hermes Municipal and Stock Advantage Fund (FMUAX) 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.

	FMUAX	FBALX	Difference
Sharpe ratio: Return per unit of total volatility	2.46	1.82	+0.63
Sortino ratio: Return per unit of downside risk	3.75	2.57	+1.18
Omega ratio: Gain probability vs. loss probability	1.46	1.34	+0.12
Calmar ratio: Return relative to maximum drawdown	3.17	2.67	+0.50
Martin ratio: Return relative to average drawdown	15.09	12.02	+3.06

FMUAX vs. FBALX - Sharpe Ratio Comparison

The current FMUAX Sharpe Ratio is 2.46, which is higher than the FBALX Sharpe Ratio of 1.82. The chart below compares the historical Sharpe Ratios of FMUAX 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.

Drawdowns

FMUAX vs. FBALX - Drawdown Comparison

The maximum FMUAX drawdown since its inception was -22.43%, smaller than the maximum FBALX drawdown of -43.57%. Use the drawdown chart below to compare losses from any high point for FMUAX and FBALX.

Drawdown Indicators

	FMUAX	FBALX	Difference
Max Drawdown Largest peak-to-trough decline	-22.43%	-43.57%	+21.14%
Max Drawdown (1Y) Largest decline over 1 year	-4.94%	-6.47%	+1.53%
Max Drawdown (3Y) Largest decline over 3 years	-10.18%	-12.88%	+2.70%
Max Drawdown (5Y) Largest decline over 5 years	-15.93%	-22.89%	+6.96%
Max Drawdown (10Y) Largest decline over 10 years	-21.46%	-26.68%	+5.22%
Current Drawdown Current decline from peak	-0.92%	-1.73%	+0.81%
Average Drawdown Average peak-to-trough decline	-2.74%	-4.36%	+1.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.97%	1.44%	-0.47%

Volatility

FMUAX vs. FBALX - Volatility Comparison

The current volatility for Federated Hermes Municipal and Stock Advantage Fund (FMUAX) is 1.68%, while Fidelity Balanced Fund (FBALX) has a volatility of 2.56%. This indicates that FMUAX experiences smaller price fluctuations and is considered to be less risky than FBALX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FMUAX	FBALX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.68%	2.56%	-0.88%
Volatility (6M) Calculated over the trailing 6-month period	4.95%	7.72%	-2.77%
Volatility (1Y) Calculated over the trailing 1-year period	6.38%	9.49%	-3.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.21%	12.27%	-5.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.14%	12.79%	-4.65%

FMUAX vs. FBALX - Expense Ratio Comparison

FMUAX has a 1.00% expense ratio, which is higher than FBALX's 0.46% expense ratio.

Dividends

FMUAX vs. FBALX - Dividend Comparison

FMUAX's dividend yield for the trailing twelve months is around 1.30%, less than FBALX's 5.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FBALX Fidelity Balanced Fund	5.22%	5.69%	5.67%	2.28%	8.06%	9.66%	5.90%	4.24%	10.99%	7.90%	3.07%	7.70%
FMUAX Federated Hermes Municipal and Stock Advantage Fund	1.30%	1.23%	2.01%	2.53%	2.25%	4.56%	2.12%	4.00%	7.98%	2.17%	2.36%	2.80%

Frequently Asked Questions

Can I hold both FMUAX and FBALX in my portfolio?

FMUAX and FBALX have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FMUAX or FBALX?

FBALX has higher volatility (2.56%) compared to FMUAX (1.68%). In terms of maximum drawdown, FMUAX dropped -22.43% vs FBALX's -43.57%.

Which has better risk-adjusted returns?

FMUAX currently has the higher Sharpe Ratio (2.46 vs 1.82), 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.