FRGAX vs. BERIX

Last updated Jun 24, 2026

FRGAX (Fidelity 70% Allocation Fund) and BERIX (Chartwell Income Fund) are both Diversified Portfolio funds. Over the past 3 years, FRGAX returned 15.75%/yr vs 9.00%/yr for BERIX. A 0.58 correlation means they provide meaningful diversification when combined. FRGAX charges 0.02%/yr vs 0.64%/yr for BERIX.

Performance

FRGAX vs. BERIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity 70% Allocation Fund (FRGAX) and Chartwell Income Fund (BERIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FRGAX achieves a 8.57% return, which is significantly higher than BERIX's 2.36% return.

FRGAX

• 1D: -0.22%
• 1M: 1.04%
• YTD: 8.57%
• 6M: 8.05%
• 1Y: 20.59%
• 3Y*: 15.75%
• 5Y*: —
• 10Y*: —

BERIX

• 1D: 0.00%
• 1M: -1.92%
• YTD: 2.36%
• 6M: 2.34%
• 1Y: 10.06%
• 3Y*: 9.00%
• 5Y*: 4.21%
• 10Y*: 4.82%

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

FRGAX vs. BERIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FRGAX Fidelity 70% Allocation Fund	8.57%	17.10%	12.91%	17.57%	-1.63%
BERIX Chartwell Income Fund	2.36%	13.23%	7.20%	7.77%	0.73%

Correlation

The correlation between FRGAX and BERIX is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.45
Correlation (3Y) Calculated over the trailing 3-year period	0.57
Correlation (All Time) Calculated using the full available price history since Nov 22, 2022	0.58

The correlation between FRGAX and BERIX shifts across timeframes, from 0.45 (1 year) to 0.58 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FRGAX vs. BERIX — Risk / Return Rank

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

FRGAX

FRGAX Risk / Return Rank: 71
FRGAX Sharpe Ratio Rank: 70
FRGAX Sortino Ratio Rank: 69
FRGAX Omega Ratio Rank: 69
FRGAX Calmar Ratio Rank: 70
FRGAX Martin Ratio Rank: 76

BERIX

BERIX Risk / Return Rank: 57
BERIX Sharpe Ratio Rank: 53
BERIX Sortino Ratio Rank: 44
BERIX Omega Ratio Rank: 60
BERIX Calmar Ratio Rank: 68
BERIX Martin Ratio Rank: 61

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.

FRGAX vs. BERIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity 70% Allocation Fund (FRGAX) and Chartwell Income Fund (BERIX). 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.

	FRGAX	BERIX	Difference
Sharpe ratio: Return per unit of total volatility	2.24	1.99	+0.25
Sortino ratio: Return per unit of downside risk	3.15	2.58	+0.57
Omega ratio: Gain probability vs. loss probability	1.42	1.39	+0.03
Calmar ratio: Return relative to maximum drawdown	3.06	3.03	+0.03
Martin ratio: Return relative to average drawdown	13.35	11.37	+1.98

FRGAX vs. BERIX - Sharpe Ratio Comparison

The current FRGAX Sharpe Ratio is 2.24, which is comparable to the BERIX Sharpe Ratio of 1.99. The chart below compares the historical Sharpe Ratios of FRGAX and BERIX, 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

FRGAX vs. BERIX - Drawdown Comparison

The maximum FRGAX drawdown since its inception was -11.77%, smaller than the maximum BERIX drawdown of -20.34%. Use the drawdown chart below to compare losses from any high point for FRGAX and BERIX.

Drawdown Indicators

	FRGAX	BERIX	Difference
Max Drawdown Largest peak-to-trough decline	-11.77%	-20.34%	+8.57%
Max Drawdown (1Y) Largest decline over 1 year	-7.03%	-3.36%	-3.67%
Max Drawdown (3Y) Largest decline over 3 years	-11.77%	-5.82%	-5.95%
Max Drawdown (5Y) Largest decline over 5 years	—	-15.73%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-20.34%	—
Current Drawdown Current decline from peak	-0.73%	-3.36%	+2.63%
Average Drawdown Average peak-to-trough decline	-1.58%	-2.59%	+1.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.61%	0.89%	+0.72%

Volatility

FRGAX vs. BERIX - Volatility Comparison

Fidelity 70% Allocation Fund (FRGAX) has a higher volatility of 3.80% compared to Chartwell Income Fund (BERIX) at 1.58%. This indicates that FRGAX's price experiences larger fluctuations and is considered to be riskier than BERIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FRGAX	BERIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.80%	1.58%	+2.22%
Volatility (6M) Calculated over the trailing 6-month period	7.93%	4.44%	+3.49%
Volatility (1Y) Calculated over the trailing 1-year period	9.62%	5.12%	+4.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.41%	5.98%	+4.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.41%	6.03%	+4.38%

FRGAX vs. BERIX - Expense Ratio Comparison

FRGAX has a 0.02% expense ratio, which is lower than BERIX's 0.64% expense ratio.

Dividends

FRGAX vs. BERIX - Dividend Comparison

FRGAX's dividend yield for the trailing twelve months is around 1.85%, less than BERIX's 4.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BERIX Chartwell Income Fund	4.15%	3.97%	3.90%	3.36%	3.54%	2.58%	3.07%	3.03%	5.83%	5.22%	2.76%	2.45%
FRGAX Fidelity 70% Allocation Fund	1.85%	2.00%	2.01%	1.77%	1.71%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FRGAX and BERIX in my portfolio?

FRGAX and BERIX have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FRGAX or BERIX?

FRGAX has higher volatility (3.80%) compared to BERIX (1.58%). In terms of maximum drawdown, FRGAX dropped -11.77% vs BERIX's -20.34%.

Which has better risk-adjusted returns?

FRGAX currently has the higher Sharpe Ratio (2.24 vs 1.99), 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.