FNDX vs. FBALX

Last updated Jun 9, 2026

FNDX (Schwab Fundamental U.S. Large Company Index ETF) and FBALX (Fidelity Balanced Fund) are both funds - FNDX is a Large Cap Value Equities fund tracking the RAFI Fundamental High Liquidity US Large Index, while FBALX is a Diversified Portfolio fund actively managed by Fidelity. FNDX is passively managed, while FBALX is actively managed. Over the past 10 years, FNDX returned 14.16%/yr vs 11.48%/yr for FBALX. Their correlation of 0.88 suggests significant overlap in exposure. FNDX charges 0.25%/yr vs 0.46%/yr for FBALX.

Performance

FNDX vs. FBALX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab Fundamental U.S. Large Company Index ETF (FNDX) 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, FNDX achieves a 13.72% return, which is significantly higher than FBALX's 7.96% return. Over the past 10 years, FNDX has outperformed FBALX with an annualized return of 14.16%, while FBALX has yielded a comparatively lower 11.48% annualized return.

FNDX

• 1D: 0.26%
• 1M: 1.45%
• YTD: 13.72%
• 6M: 14.45%
• 1Y: 30.74%
• 3Y*: 20.18%
• 5Y*: 12.71%
• 10Y*: 14.16%

FBALX

• 1D: -2.10%
• 1M: -0.35%
• YTD: 7.96%
• 6M: 8.36%
• 1Y: 21.65%
• 3Y*: 15.93%
• 5Y*: 8.87%
• 10Y*: 11.48%

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

FNDX vs. FBALX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FNDX Schwab Fundamental U.S. Large Company Index ETF	13.72%	16.94%	16.77%	18.23%	-6.92%	31.73%	9.12%	28.65%	-7.30%	17.12%
FBALX Fidelity Balanced Fund	7.96%	15.11%	16.09%	20.31%	-18.29%	18.27%	22.45%	24.40%	-3.98%	16.52%

Correlation

The correlation between FNDX and FBALX is 0.76, 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	0.76
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (10Y) Calculated over the trailing 10-year period	0.87
Correlation (All Time) Calculated using the full available price history since Aug 15, 2013	0.88

The correlation between FNDX and FBALX shifts across timeframes, from 0.76 (1 year) to 0.88 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FNDX vs. FBALX — Risk / Return Rank

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

FNDX

FNDX Risk / Return Rank: 91
FNDX Sharpe Ratio Rank: 92
FNDX Sortino Ratio Rank: 92
FNDX Omega Ratio Rank: 91
FNDX Calmar Ratio Rank: 90
FNDX Martin Ratio Rank: 91

FBALX

FBALX Risk / Return Rank: 79
FBALX Sharpe Ratio Rank: 79
FBALX Sortino Ratio Rank: 73
FBALX Omega Ratio Rank: 76
FBALX Calmar Ratio Rank: 79
FBALX Martin Ratio Rank: 88

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.

FNDX vs. FBALX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab Fundamental U.S. Large Company Index ETF (FNDX) 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.

	FNDX	FBALX	Difference
Sharpe ratio: Return per unit of total volatility	3.00	2.52	+0.48
Sortino ratio: Return per unit of downside risk	4.15	3.48	+0.68
Omega ratio: Gain probability vs. loss probability	1.55	1.48	+0.07
Calmar ratio: Return relative to maximum drawdown	5.09	3.46	+1.64
Martin ratio: Return relative to average drawdown	19.86	16.47	+3.40
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FNDX vs. FBALX - Sharpe Ratio Comparison

The current FNDX Sharpe Ratio is 3.00, which is comparable to the FBALX Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of FNDX 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.

Sharpe Ratios by Period

	FNDX	FBALX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.00	2.52	+0.48
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.84	0.73	+0.11
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.81	0.90	-0.09
Sharpe Ratio (All Time) Calculated using the full available price history	0.79	0.81	-0.02

Drawdowns

FNDX vs. FBALX - Drawdown Comparison

The maximum FNDX drawdown since its inception was -37.72%, smaller than the maximum FBALX drawdown of -43.57%. Use the drawdown chart below to compare losses from any high point for FNDX and FBALX.

Drawdown Indicators

	FNDX	FBALX	Difference
Max Drawdown Largest peak-to-trough decline	-37.72%	-43.57%	+5.85%
Max Drawdown (1Y) Largest decline over 1 year	-6.06%	-6.47%	+0.41%
Max Drawdown (3Y) Largest decline over 3 years	-16.30%	-12.88%	-3.42%
Max Drawdown (5Y) Largest decline over 5 years	-19.06%	-22.89%	+3.83%
Max Drawdown (10Y) Largest decline over 10 years	-37.72%	-26.68%	-11.04%
Current Drawdown Current decline from peak	-1.41%	-2.12%	+0.71%
Average Drawdown Average peak-to-trough decline	-3.55%	-4.37%	+0.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.55%	1.35%	+0.20%

Volatility

FNDX vs. FBALX - Volatility Comparison

The current volatility for Schwab Fundamental U.S. Large Company Index ETF (FNDX) is 2.62%, while Fidelity Balanced Fund (FBALX) has a volatility of 3.23%. This indicates that FNDX 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

	FNDX	FBALX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.62%	3.23%	-0.61%
Volatility (6M) Calculated over the trailing 6-month period	7.46%	7.15%	+0.31%
Volatility (1Y) Calculated over the trailing 1-year period	10.32%	8.87%	+1.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.20%	12.21%	+2.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.51%	12.79%	+4.72%

FNDX vs. FBALX - Expense Ratio Comparison

FNDX has a 0.25% expense ratio, which is lower than FBALX's 0.46% expense ratio.

Dividends

FNDX vs. FBALX - Dividend Comparison

FNDX's dividend yield for the trailing twelve months is around 1.46%, less than FBALX's 5.25% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FBALX Fidelity Balanced Fund	5.25%	5.69%	5.67%	2.28%	8.06%	9.66%	5.90%	4.24%	10.99%	7.90%	3.07%	7.70%
FNDX Schwab Fundamental U.S. Large Company Index ETF	1.46%	1.63%	1.76%	1.82%	2.07%	1.64%	2.29%	2.23%	2.40%	1.86%	2.01%	2.01%

Frequently Asked Questions

Can I hold both FNDX and FBALX in my portfolio?

FNDX 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, FNDX or FBALX?

FBALX has higher volatility (3.23%) compared to FNDX (2.62%). In terms of maximum drawdown, FNDX dropped -37.72% vs FBALX's -43.57%.

Which has better risk-adjusted returns?

FNDX currently has the higher Sharpe Ratio (3.00 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.