FRGAX vs. PWTYX

Last updated Apr 1, 2026

Compare and contrast key facts about Fidelity 70% Allocation Fund (FRGAX) and UBS U.S. Allocation Fund (PWTYX).

FRGAX is an actively managed fund by Fidelity. It was launched on Jan 1, 2022. PWTYX is managed by UBS. It was launched on May 9, 1993.

Performance

FRGAX vs. PWTYX - Performance Comparison

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

FRGAX vs. PWTYX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FRGAX Fidelity 70% Allocation Fund	-3.53%	17.10%	12.91%	17.57%	-1.63%
PWTYX UBS U.S. Allocation Fund	-5.56%	13.28%	14.01%	17.73%	-2.54%

Returns By Period

In the year-to-date period, FRGAX achieves a -3.53% return, which is significantly higher than PWTYX's -5.56% return.

FRGAX

• 1D: -0.17%
• 1M: -6.67%
• YTD: -3.53%
• 6M: -1.21%
• 1Y: 13.49%
• 3Y*: 12.30%
• 5Y*: —
• 10Y*: —

PWTYX

• 1D: -0.20%
• 1M: -7.61%
• YTD: -5.56%
• 6M: -3.44%
• 1Y: 10.34%
• 3Y*: 11.12%
• 5Y*: 5.97%
• 10Y*: 8.64%

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

FRGAX vs. PWTYX - Expense Ratio Comparison

FRGAX has a 0.02% expense ratio, which is lower than PWTYX's 0.70% expense ratio.

PWTYX

UBS U.S. Allocation Fund

FRGAX

Fidelity 70% Allocation Fund

Return for Risk

FRGAX vs. PWTYX — Risk / Return Rank

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

FRGAX

FRGAX Risk / Return Rank: 64
FRGAX Sharpe Ratio Rank: 63
FRGAX Sortino Ratio Rank: 65
FRGAX Omega Ratio Rank: 63
FRGAX Calmar Ratio Rank: 59
FRGAX Martin Ratio Rank: 69

PWTYX

PWTYX Risk / Return Rank: 38
PWTYX Sharpe Ratio Rank: 45
PWTYX Sortino Ratio Rank: 45
PWTYX Omega Ratio Rank: 44
PWTYX Calmar Ratio Rank: 27
PWTYX Martin Ratio Rank: 30

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. PWTYX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity 70% Allocation Fund (FRGAX) and UBS U.S. Allocation Fund (PWTYX). 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.

	FRGAX	PWTYX	Difference
Sharpe ratio Return per unit of total volatility	1.15	0.90	+0.26
Sortino ratio Return per unit of downside risk	1.67	1.32	+0.35
Omega ratio Gain probability vs. loss probability	1.25	1.19	+0.06
Calmar ratio Return relative to maximum drawdown	1.41	0.79	+0.61
Martin ratio Return relative to average drawdown	6.55	3.21	+3.34
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FRGAX vs. PWTYX - Sharpe Ratio Comparison

The current FRGAX Sharpe Ratio is 1.15, which is comparable to the PWTYX Sharpe Ratio of 0.90. The chart below compares the historical Sharpe Ratios of FRGAX and PWTYX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FRGAX	PWTYX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.15	0.90	+0.26
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.46	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.68	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.21	0.51	+0.70

Correlation

The correlation between FRGAX and PWTYX is 0.92, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

FRGAX vs. PWTYX - Dividend Comparison

FRGAX's dividend yield for the trailing twelve months is around 2.08%, less than PWTYX's 9.93% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FRGAX Fidelity 70% Allocation Fund	2.08%	2.00%	2.01%	1.77%	1.71%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
PWTYX UBS U.S. Allocation Fund	9.93%	9.38%	8.32%	1.61%	9.95%	16.86%	5.85%	2.22%	11.82%	2.53%	0.68%

Drawdowns

FRGAX vs. PWTYX - Drawdown Comparison

The maximum FRGAX drawdown since its inception was -11.77%, smaller than the maximum PWTYX drawdown of -51.86%. Use the drawdown chart below to compare losses from any high point for FRGAX and PWTYX.

Drawdown Indicators

	FRGAX	PWTYX	Difference
Max Drawdown Largest peak-to-trough decline	-11.77%	-51.86%	+40.09%
Max Drawdown (1Y) Largest decline over 1 year	-8.53%	-8.66%	+0.13%
Max Drawdown (5Y) Largest decline over 5 years	—	-21.84%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-25.34%	—
Current Drawdown Current decline from peak	-7.03%	-7.87%	+0.84%
Average Drawdown Average peak-to-trough decline	-1.62%	-7.65%	+6.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.87%	2.53%	-0.66%

Volatility

FRGAX vs. PWTYX - Volatility Comparison

Fidelity 70% Allocation Fund (FRGAX) and UBS U.S. Allocation Fund (PWTYX) have volatilities of 3.78% and 3.64%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FRGAX	PWTYX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.78%	3.64%	+0.14%
Volatility (6M) Calculated over the trailing 6-month period	6.72%	7.27%	-0.55%
Volatility (1Y) Calculated over the trailing 1-year period	11.92%	12.91%	-0.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.27%	13.11%	-2.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.27%	12.88%	-2.61%