FSAAX vs. MDCPX

Last updated Jun 4, 2026

FSAAX (Fidelity Advisor Asset Manager 60% Fund Class A) and MDCPX (BlackRock Balanced Capital Fund Investor A Shares) are both Diversified Portfolio funds from BlackRock. Over the past 10 years, FSAAX returned 8.56%/yr vs 10.29%/yr for MDCPX. Their correlation of 0.94 suggests significant overlap in exposure. FSAAX charges 1.00%/yr vs 0.78%/yr for MDCPX.

Performance

FSAAX vs. MDCPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Asset Manager 60% Fund Class A (FSAAX) and BlackRock Balanced Capital Fund Investor A Shares (MDCPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FSAAX achieves a 10.25% return, which is significantly higher than MDCPX's 8.99% return. Over the past 10 years, FSAAX has underperformed MDCPX with an annualized return of 8.56%, while MDCPX has yielded a comparatively higher 10.29% annualized return.

FSAAX

• 1D: 0.43%
• 1M: 3.83%
• YTD: 10.25%
• 6M: 11.01%
• 1Y: 23.04%
• 3Y*: 14.36%
• 5Y*: 7.01%
• 10Y*: 8.56%

MDCPX

• 1D: 0.20%
• 1M: 3.59%
• YTD: 8.99%
• 6M: 9.94%
• 1Y: 20.18%
• 3Y*: 15.09%
• 5Y*: 8.63%
• 10Y*: 10.29%

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

FSAAX vs. MDCPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FSAAX Fidelity Advisor Asset Manager 60% Fund Class A	10.25%	16.24%	9.13%	14.38%	-16.42%	11.48%	15.71%	20.23%	-6.88%	14.98%
MDCPX BlackRock Balanced Capital Fund Investor A Shares	8.99%	15.32%	12.47%	16.59%	-15.70%	16.49%	15.07%	21.59%	-3.48%	14.24%

Correlation

The correlation between FSAAX and MDCPX is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.97
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Oct 12, 2007	0.94

The correlation between FSAAX and MDCPX has been stable across timeframes, ranging from 0.94 to 0.97 - a consistent structural relationship.

Return for Risk

FSAAX vs. MDCPX — Risk / Return Rank

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

FSAAX

FSAAX Risk / Return Rank: 74
FSAAX Sharpe Ratio Rank: 77
FSAAX Sortino Ratio Rank: 74
FSAAX Omega Ratio Rank: 73
FSAAX Calmar Ratio Rank: 71
FSAAX Martin Ratio Rank: 76

MDCPX

MDCPX Risk / Return Rank: 72
MDCPX Sharpe Ratio Rank: 71
MDCPX Sortino Ratio Rank: 71
MDCPX Omega Ratio Rank: 69
MDCPX Calmar Ratio Rank: 71
MDCPX Martin Ratio Rank: 75

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.

FSAAX vs. MDCPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Asset Manager 60% Fund Class A (FSAAX) and BlackRock Balanced Capital Fund Investor A Shares (MDCPX). 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.

	FSAAX	MDCPX	Difference
Sharpe ratio Return per unit of total volatility	2.56	2.47	+0.09
Sortino ratio Return per unit of downside risk	3.62	3.51	+0.11
Omega ratio Gain probability vs. loss probability	1.49	1.46	+0.02
Calmar ratio Return relative to maximum drawdown	3.28	3.28	0.00
Martin ratio Return relative to average drawdown	14.36	14.29	+0.08
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FSAAX vs. MDCPX - Sharpe Ratio Comparison

The current FSAAX Sharpe Ratio is 2.56, which is comparable to the MDCPX Sharpe Ratio of 2.47. The chart below compares the historical Sharpe Ratios of FSAAX and MDCPX, 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

	FSAAX	MDCPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.56	2.47	+0.09
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.65	0.78	-0.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.78	0.90	-0.12
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	0.66	-0.14

Drawdowns

FSAAX vs. MDCPX - Drawdown Comparison

The maximum FSAAX drawdown since its inception was -41.63%, roughly equal to the maximum MDCPX drawdown of -41.98%. Use the drawdown chart below to compare losses from any high point for FSAAX and MDCPX.

Drawdown Indicators

	FSAAX	MDCPX	Difference
Max Drawdown Largest peak-to-trough decline	-41.63%	-41.98%	+0.35%
Max Drawdown (1Y) Largest decline over 1 year	-7.13%	-6.22%	-0.91%
Max Drawdown (3Y) Largest decline over 3 years	-10.99%	-10.65%	-0.34%
Max Drawdown (5Y) Largest decline over 5 years	-22.62%	-21.99%	-0.63%
Max Drawdown (10Y) Largest decline over 10 years	-24.38%	-24.58%	+0.20%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-5.58%	-5.09%	-0.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.62%	1.42%	+0.20%

Volatility

FSAAX vs. MDCPX - Volatility Comparison

Fidelity Advisor Asset Manager 60% Fund Class A (FSAAX) has a higher volatility of 3.03% compared to BlackRock Balanced Capital Fund Investor A Shares (MDCPX) at 2.59%. This indicates that FSAAX's price experiences larger fluctuations and is considered to be riskier than MDCPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSAAX	MDCPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.03%	2.59%	+0.44%
Volatility (6M) Calculated over the trailing 6-month period	7.46%	6.69%	+0.77%
Volatility (1Y) Calculated over the trailing 1-year period	9.13%	8.27%	+0.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.79%	11.06%	-0.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.98%	11.46%	-0.48%

FSAAX vs. MDCPX - Expense Ratio Comparison

FSAAX has a 1.00% expense ratio, which is higher than MDCPX's 0.78% expense ratio.

Dividends

FSAAX vs. MDCPX - Dividend Comparison

FSAAX's dividend yield for the trailing twelve months is around 5.06%, less than MDCPX's 7.90% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSAAX Fidelity Advisor Asset Manager 60% Fund Class A	5.06%	5.57%	2.99%	1.64%	4.12%	2.27%	1.60%	3.83%	4.15%	1.78%	0.20%	3.80%
MDCPX BlackRock Balanced Capital Fund Investor A Shares	7.90%	8.61%	7.44%	2.63%	3.82%	12.27%	4.02%	5.25%	7.84%	19.39%	4.67%	5.04%

Frequently Asked Questions

Can I hold both FSAAX and MDCPX in my portfolio?

With a correlation of 0.97, FSAAX and MDCPX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, FSAAX or MDCPX?

FSAAX has higher volatility (3.03%) compared to MDCPX (2.59%). In terms of maximum drawdown, FSAAX dropped -41.63% vs MDCPX's -41.98%.

Which has better risk-adjusted returns?

FSAAX currently has the higher Sharpe Ratio (2.56 vs 2.47), 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.