FSATX vs. BDMAX

Last updated Aug 1, 2026

FSATX (Fidelity Advisor Asset Manager 60% Fund Class M) and BDMAX (BlackRock Global Equity Market Neutral Fund Investor A) are both mutual funds - FSATX is a Diversified Portfolio fund managed by BlackRock, while BDMAX is a Equity Market Neutral fund actively managed by BlackRock. Over the past 10 years, FSATX returned 7.95%/yr vs 8.21%/yr for BDMAX. Their 0.10 correlation means their historical movements had little consistent relationship. FSATX charges 1.25%/yr vs 1.59%/yr for BDMAX.

Performance

FSATX vs. BDMAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Asset Manager 60% Fund Class M (FSATX) and BlackRock Global Equity Market Neutral Fund Investor A (BDMAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FSATX achieves a 8.53% return, which is significantly lower than BDMAX's 11.82% return. Both investments have delivered pretty close results over the past 10 years, with FSATX having a 7.95% annualized return and BDMAX not far ahead at 8.21%.

FSATX

• 1D: 1.50%
• 1M: -0.76%
• 6M: 5.71%
• YTD: 8.53%
• 1Y: 17.29%
• 3Y*: 12.18%
• 5Y*: 5.95%
• 10Y*: 7.95%
• ALL TIME*: 6.02%

BDMAX

• 1D: 1.16%
• 1M: 1.62%
• 6M: 10.73%
• YTD: 11.82%
• 1Y: 23.19%
• 3Y*: 20.21%
• 5Y*: 12.85%
• 10Y*: 8.21%
• ALL TIME*: 6.60%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BDMAX BlackRock Global Equity Market Neutral Fund Investor A	$0.00	$0.00	$0.00
FSATX Fidelity Advisor Asset Manager 60% Fund Class M	$0.00	$0.00	$0.00

FSATX vs. BDMAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FSATX Fidelity Advisor Asset Manager 60% Fund Class M	8.53%	15.89%	8.90%	14.20%	-16.71%	11.24%	15.43%	19.93%	-7.11%	15.06%
BDMAX BlackRock Global Equity Market Neutral Fund Investor A	11.82%	18.08%	21.12%	14.27%	1.57%	3.11%	-0.05%	-1.02%	1.86%	12.57%

Correlation

The correlation between FSATX and BDMAX is 0.38, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.38
Correlation (3Y) Balances recent behavior with more history.	0.20
Correlation (5Y) Shows whether the relationship held over a longer period.	0.12
Correlation (10Y) Provides a long-term view across more market conditions.	0.08
Correlation (All Time) Calculated using the full available price history since Jan 2, 2013	0.10

Over the past year, FSATX and BDMAX have become more correlated (0.38) than their long-term average of 0.10, meaning their price movements have been converging.

Return for Risk

FSATX vs. BDMAX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FSATX

FSATX Risk / Return Rank: 66
FSATX Sharpe Ratio Rank: 64
FSATX Sortino Ratio Rank: 63
FSATX Omega Ratio Rank: 63
FSATX Calmar Ratio Rank: 66
FSATX Martin Ratio Rank: 74

BDMAX

BDMAX Risk / Return Rank: 97
BDMAX Sharpe Ratio Rank: 98
BDMAX Sortino Ratio Rank: 97
BDMAX Omega Ratio Rank: 95
BDMAX Calmar Ratio Rank: 98
BDMAX Martin Ratio Rank: 97

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FSATX vs. BDMAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Asset Manager 60% Fund Class M (FSATX) and BlackRock Global Equity Market Neutral Fund Investor A (BDMAX). 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.

	FSATX	BDMAX	Difference
Sharpe ratio: Return per unit of total volatility	1.60	3.20	-1.61
Sortino ratio: Return per unit of downside risk	2.27	4.63	-2.36
Omega ratio: Gain probability vs. loss probability	1.29	1.60	-0.31
Calmar ratio: Return relative to maximum drawdown	2.26	7.28	-5.02
Martin ratio: Return relative to average drawdown	9.40	19.24	-9.84

FSATX vs. BDMAX - Sharpe Ratio Comparison

The current FSATX Sharpe Ratio is 1.60, which is lower than the BDMAX Sharpe Ratio of 3.20. The chart below compares the historical Sharpe Ratios of FSATX and BDMAX, 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

FSATX vs. BDMAX - Drawdown Comparison

The maximum FSATX drawdown since its inception was -41.95%, which is greater than BDMAX's maximum drawdown of -12.37%. Use the drawdown chart below to compare losses from any high point for FSATX and BDMAX.

Drawdown Indicators

	FSATX	BDMAX	Difference
Max Drawdown Largest peak-to-trough decline	-41.95%	-12.37%	-29.58%
Max Drawdown (1Y) Largest decline over 1 year	-7.18%	-3.25%	-3.93%
Max Drawdown (3Y) Largest decline over 3 years	-11.05%	-4.15%	-6.90%
Max Drawdown (5Y) Largest decline over 5 years	-22.75%	-5.56%	-17.19%
Max Drawdown (10Y) Largest decline over 10 years	-24.42%	-9.71%	-14.71%
Current Drawdown Current decline from peak	-1.56%	-1.15%	-0.41%
Average Drawdown Average peak-to-trough decline	-5.68%	-2.80%	-2.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.72%	1.23%	+0.49%

Volatility

FSATX vs. BDMAX - Volatility Comparison

Fidelity Advisor Asset Manager 60% Fund Class M (FSATX) has a higher volatility of 2.98% compared to BlackRock Global Equity Market Neutral Fund Investor A (BDMAX) at 2.58%. This indicates that FSATX's price experiences larger fluctuations and is considered to be riskier than BDMAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSATX	BDMAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.98%	2.58%	+0.40%
Volatility (6M) Calculated over the trailing 6-month period	8.64%	5.36%	+3.28%
Volatility (1Y) Calculated over the trailing 1-year period	10.18%	7.39%	+2.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.97%	6.67%	+4.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.99%	5.90%	+5.09%

FSATX vs. BDMAX - Expense Ratio Comparison

FSATX has a 1.25% expense ratio, which is lower than BDMAX's 1.59% expense ratio.

Dividends

FSATX vs. BDMAX - Dividend Comparison

FSATX's dividend yield for the trailing twelve months is around 4.92%, less than BDMAX's 11.66% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BDMAX BlackRock Global Equity Market Neutral Fund Investor A	11.66%	8.94%	13.39%	7.14%	0.00%	1.25%	0.04%	6.60%	0.85%	0.00%	0.00%	1.56%
FSATX Fidelity Advisor Asset Manager 60% Fund Class M	4.92%	5.34%	2.74%	1.42%	3.88%	2.01%	1.37%	3.59%	3.94%	1.79%	0.20%	3.56%

Frequently Asked Questions

Can I hold both FSATX and BDMAX in my portfolio?

FSATX and BDMAX have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FSATX or BDMAX?

FSATX has higher volatility (2.98%) compared to BDMAX (2.58%). In terms of maximum drawdown, FSATX dropped -41.95% vs BDMAX's -12.37%.

Which has better risk-adjusted returns?

BDMAX currently has the higher Sharpe Ratio (3.20 vs 1.60), 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.