FOCPX vs. FBALX

Last updated Jun 13, 2026

FOCPX (Fidelity OTC Portfolio) and FBALX (Fidelity Balanced Fund) are both mutual funds - FOCPX is a Large Cap Growth Equities fund actively managed by Fidelity, while FBALX is a Diversified Portfolio fund actively managed by Fidelity. Both are actively managed. Over the past 10 years, FOCPX returned 22.49%/yr vs 11.70%/yr for FBALX. Their correlation of 0.82 suggests significant overlap in exposure. FOCPX charges 0.73%/yr vs 0.46%/yr for FBALX.

Performance

FOCPX vs. FBALX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity OTC Portfolio (FOCPX) 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, FOCPX achieves a 22.78% return, which is significantly higher than FBALX's 8.71% return. Over the past 10 years, FOCPX has outperformed FBALX with an annualized return of 22.49%, while FBALX has yielded a comparatively lower 11.70% annualized return.

FOCPX

• 1D: 2.86%
• 1M: -0.60%
• YTD: 22.78%
• 6M: 24.57%
• 1Y: 51.96%
• 3Y*: 32.72%
• 5Y*: 17.85%
• 10Y*: 22.49%

FBALX

• 1D: 1.52%
• 1M: -0.11%
• YTD: 8.71%
• 6M: 9.51%
• 1Y: 21.68%
• 3Y*: 15.96%
• 5Y*: 8.88%
• 10Y*: 11.70%

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

FOCPX vs. FBALX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FOCPX Fidelity OTC Portfolio	22.78%	22.21%	38.95%	42.64%	-32.08%	24.94%	46.75%	39.20%	-3.30%	38.61%
FBALX Fidelity Balanced Fund	8.71%	15.11%	16.09%	20.31%	-18.29%	18.27%	22.45%	24.40%	-3.98%	16.52%

Correlation

The correlation between FOCPX and FBALX is 0.90, 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	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (10Y) Calculated over the trailing 10-year period	0.90
Correlation (All Time) Calculated using the full available price history since Nov 6, 1986	0.82

The correlation between FOCPX and FBALX has been stable across timeframes, ranging from 0.82 to 0.91 - a consistent structural relationship.

Return for Risk

FOCPX vs. FBALX — Risk / Return Rank

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

FOCPX

FOCPX Risk / Return Rank: 90
FOCPX Sharpe Ratio Rank: 94
FOCPX Sortino Ratio Rank: 85
FOCPX Omega Ratio Rank: 84
FOCPX Calmar Ratio Rank: 94
FOCPX Martin Ratio Rank: 96

FBALX

FBALX Risk / Return Rank: 87
FBALX Sharpe Ratio Rank: 87
FBALX Sortino Ratio Rank: 84
FBALX Omega Ratio Rank: 83
FBALX Calmar Ratio Rank: 86
FBALX Martin Ratio Rank: 93

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.

FOCPX vs. FBALX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity OTC Portfolio (FOCPX) 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.

	FOCPX	FBALX	Difference
Sharpe ratio: Return per unit of total volatility	2.80	2.45	+0.35
Sortino ratio: Return per unit of downside risk	3.46	3.39	+0.07
Omega ratio: Gain probability vs. loss probability	1.47	1.47	+0.01
Calmar ratio: Return relative to maximum drawdown	4.68	3.44	+1.24
Martin ratio: Return relative to average drawdown	19.87	16.08	+3.79

FOCPX vs. FBALX - Sharpe Ratio Comparison

The current FOCPX Sharpe Ratio is 2.80, which is comparable to the FBALX Sharpe Ratio of 2.45. The chart below compares the historical Sharpe Ratios of FOCPX 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

FOCPX vs. FBALX - Drawdown Comparison

The maximum FOCPX drawdown since its inception was -70.25%, which is greater than FBALX's maximum drawdown of -43.57%. Use the drawdown chart below to compare losses from any high point for FOCPX and FBALX.

Drawdown Indicators

	FOCPX	FBALX	Difference
Max Drawdown Largest peak-to-trough decline	-70.25%	-43.57%	-26.68%
Max Drawdown (1Y) Largest decline over 1 year	-11.29%	-6.47%	-4.82%
Max Drawdown (3Y) Largest decline over 3 years	-24.82%	-12.88%	-11.94%
Max Drawdown (5Y) Largest decline over 5 years	-37.05%	-22.89%	-14.16%
Max Drawdown (10Y) Largest decline over 10 years	-37.05%	-26.68%	-10.37%
Current Drawdown Current decline from peak	-4.42%	-1.44%	-2.98%
Average Drawdown Average peak-to-trough decline	-17.00%	-4.37%	-12.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.65%	1.38%	+1.27%

Volatility

FOCPX vs. FBALX - Volatility Comparison

Fidelity OTC Portfolio (FOCPX) has a higher volatility of 8.13% compared to Fidelity Balanced Fund (FBALX) at 3.69%. This indicates that FOCPX's price experiences larger fluctuations and is considered to be riskier than FBALX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FOCPX	FBALX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.13%	3.69%	+4.44%
Volatility (6M) Calculated over the trailing 6-month period	15.35%	7.41%	+7.94%
Volatility (1Y) Calculated over the trailing 1-year period	18.86%	9.06%	+9.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.83%	12.24%	+10.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.51%	12.81%	+9.70%

FOCPX vs. FBALX - Expense Ratio Comparison

FOCPX has a 0.73% expense ratio, which is higher than FBALX's 0.46% expense ratio.

Dividends

FOCPX vs. FBALX - Dividend Comparison

FOCPX's dividend yield for the trailing twelve months is around 6.33%, more 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%
FOCPX Fidelity OTC Portfolio	6.33%	7.78%	16.76%	0.05%	4.06%	11.53%	6.23%	7.58%	7.93%	4.86%	3.24%	5.41%

Frequently Asked Questions

Can I hold both FOCPX and FBALX in my portfolio?

FOCPX and FBALX have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FOCPX or FBALX?

FOCPX has higher volatility (8.13%) compared to FBALX (3.69%). In terms of maximum drawdown, FOCPX dropped -70.25% vs FBALX's -43.57%.

Which has better risk-adjusted returns?

FOCPX currently has the higher Sharpe Ratio (2.80 vs 2.45), 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.