FMWIX vs. DGTSX

Last updated Jun 3, 2026

FMWIX (Fidelity Moderate with Income Allocation Fund) and DGTSX (DFA Global Allocation 25/75 Portfolio) are both Diversified Portfolio funds. Over the past 3 years, FMWIX returned 9.20%/yr vs 8.48%/yr for DGTSX. Their correlation of 0.88 suggests significant overlap in exposure. FMWIX charges 0.10%/yr vs 0.24%/yr for DGTSX.

Performance

FMWIX vs. DGTSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Moderate with Income Allocation Fund (FMWIX) and DFA Global Allocation 25/75 Portfolio (DGTSX). 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 FMWIX having a 4.15% return and DGTSX slightly higher at 4.16%.

FMWIX

• 1D: 0.00%
• 1M: 1.57%
• YTD: 4.15%
• 6M: 4.53%
• 1Y: 12.16%
• 3Y*: 9.20%
• 5Y*: —
• 10Y*: —

DGTSX

• 1D: 0.00%
• 1M: 1.25%
• YTD: 4.16%
• 6M: 4.68%
• 1Y: 10.16%
• 3Y*: 8.48%
• 5Y*: 5.19%
• 10Y*: 5.20%

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

FMWIX vs. DGTSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FMWIX Fidelity Moderate with Income Allocation Fund	4.15%	11.03%	6.65%	10.53%	-9.08%
DGTSX DFA Global Allocation 25/75 Portfolio	4.16%	8.39%	7.43%	8.93%	-5.36%

Correlation

The correlation between FMWIX and DGTSX is 0.87, 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	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (All Time) Calculated using the full available price history since Feb 15, 2022	0.88

The correlation between FMWIX and DGTSX has been stable across timeframes, ranging from 0.85 to 0.88 - a consistent structural relationship.

Return for Risk

FMWIX vs. DGTSX — Risk / Return Rank

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

FMWIX

FMWIX Risk / Return Rank: 74
FMWIX Sharpe Ratio Rank: 75
FMWIX Sortino Ratio Rank: 78
FMWIX Omega Ratio Rank: 76
FMWIX Calmar Ratio Rank: 68
FMWIX Martin Ratio Rank: 73

DGTSX

DGTSX Risk / Return Rank: 89
DGTSX Sharpe Ratio Rank: 91
DGTSX Sortino Ratio Rank: 92
DGTSX Omega Ratio Rank: 89
DGTSX Calmar Ratio Rank: 85
DGTSX Martin Ratio Rank: 90

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.

FMWIX vs. DGTSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Moderate with Income Allocation Fund (FMWIX) and DFA Global Allocation 25/75 Portfolio (DGTSX). 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.

	FMWIX	DGTSX	Difference
Sharpe ratio Return per unit of total volatility	2.52	3.05	-0.53
Sortino ratio Return per unit of downside risk	3.71	4.60	-0.89
Omega ratio Gain probability vs. loss probability	1.50	1.64	-0.14
Calmar ratio Return relative to maximum drawdown	3.19	4.00	-0.81
Martin ratio Return relative to average drawdown	13.92	17.92	-4.00
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FMWIX vs. DGTSX - Sharpe Ratio Comparison

The current FMWIX Sharpe Ratio is 2.52, which is comparable to the DGTSX Sharpe Ratio of 3.05. The chart below compares the historical Sharpe Ratios of FMWIX and DGTSX, 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

	FMWIX	DGTSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.52	3.05	-0.53
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.88	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.00	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.77	0.94	-0.17

Drawdowns

FMWIX vs. DGTSX - Drawdown Comparison

The maximum FMWIX drawdown since its inception was -13.78%, smaller than the maximum DGTSX drawdown of -16.71%. Use the drawdown chart below to compare losses from any high point for FMWIX and DGTSX.

Drawdown Indicators

	FMWIX	DGTSX	Difference
Max Drawdown Largest peak-to-trough decline	-13.78%	-16.71%	+2.93%
Max Drawdown (1Y) Largest decline over 1 year	-3.96%	-2.64%	-1.32%
Max Drawdown (3Y) Largest decline over 3 years	-5.78%	-7.46%	+1.68%
Max Drawdown (5Y) Largest decline over 5 years	—	-11.26%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-11.26%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-3.17%	-1.65%	-1.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.91%	0.59%	+0.32%

Volatility

FMWIX vs. DGTSX - Volatility Comparison

Fidelity Moderate with Income Allocation Fund (FMWIX) has a higher volatility of 1.75% compared to DFA Global Allocation 25/75 Portfolio (DGTSX) at 1.13%. This indicates that FMWIX's price experiences larger fluctuations and is considered to be riskier than DGTSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FMWIX	DGTSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.75%	1.13%	+0.62%
Volatility (6M) Calculated over the trailing 6-month period	3.98%	2.73%	+1.25%
Volatility (1Y) Calculated over the trailing 1-year period	4.88%	3.40%	+1.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.73%	5.96%	+0.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.73%	5.23%	+1.50%

FMWIX vs. DGTSX - Expense Ratio Comparison

FMWIX has a 0.10% expense ratio, which is lower than DGTSX's 0.24% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

FMWIX vs. DGTSX - Dividend Comparison

FMWIX's dividend yield for the trailing twelve months is around 3.01%, less than DGTSX's 5.70% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DGTSX DFA Global Allocation 25/75 Portfolio	5.70%	5.54%	7.28%	4.75%	2.77%	7.62%	2.12%	2.57%	2.99%	1.25%	1.26%	1.50%
FMWIX Fidelity Moderate with Income Allocation Fund	3.01%	2.89%	2.71%	2.30%	1.80%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FMWIX and DGTSX in my portfolio?

FMWIX and DGTSX have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FMWIX or DGTSX?

FMWIX has higher volatility (1.75%) compared to DGTSX (1.13%). In terms of maximum drawdown, FMWIX dropped -13.78% vs DGTSX's -16.71%.

Which has better risk-adjusted returns?

DGTSX currently has the higher Sharpe Ratio (3.05 vs 2.52), 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.