FTDWX vs. BWBIX

Last updated Jun 24, 2026

FTDWX (Fidelity Advisor Asset Manager 20% Fund Class M) and BWBIX (Baron WealthBuilder Fund) are both Diversified Portfolio funds. Over the past 5 years, FTDWX returned 2.97%/yr vs 3.76%/yr for BWBIX. A 0.73 correlation means they provide meaningful diversification when combined. FTDWX charges 1.07%/yr vs 0.05%/yr for BWBIX.

Performance

FTDWX vs. BWBIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Asset Manager 20% Fund Class M (FTDWX) and Baron WealthBuilder Fund (BWBIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FTDWX achieves a 4.15% return, which is significantly higher than BWBIX's 1.98% return.

FTDWX

• 1D: -0.20%
• 1M: 0.86%
• YTD: 4.15%
• 6M: 4.13%
• 1Y: 10.05%
• 3Y*: 7.28%
• 5Y*: 2.97%
• 10Y*: 3.94%

BWBIX

• 1D: -3.11%
• 1M: 3.27%
• YTD: 1.98%
• 6M: 0.41%
• 1Y: 12.21%
• 3Y*: 13.70%
• 5Y*: 3.76%
• 10Y*: —

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

FTDWX vs. BWBIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FTDWX Fidelity Advisor Asset Manager 20% Fund Class M	4.15%	8.84%	4.86%	7.35%	-10.73%	3.48%	7.96%	10.06%	-1.42%
BWBIX Baron WealthBuilder Fund	1.98%	10.23%	19.62%	25.77%	-32.58%	14.76%	62.85%	36.41%	-12.02%

Correlation

The correlation between FTDWX and BWBIX is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.72
Correlation (3Y) Calculated over the trailing 3-year period	0.71
Correlation (5Y) Calculated over the trailing 5-year period	0.71
Correlation (All Time) Calculated using the full available price history since May 21, 2018	0.73

The correlation between FTDWX and BWBIX has been stable across timeframes, ranging from 0.70 to 0.73 - a consistent structural relationship.

Return for Risk

FTDWX vs. BWBIX — Risk / Return Rank

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

FTDWX

FTDWX Risk / Return Rank: 76
FTDWX Sharpe Ratio Rank: 76
FTDWX Sortino Ratio Rank: 78
FTDWX Omega Ratio Rank: 79
FTDWX Calmar Ratio Rank: 71
FTDWX Martin Ratio Rank: 76

BWBIX

BWBIX Risk / Return Rank: 14
BWBIX Sharpe Ratio Rank: 12
BWBIX Sortino Ratio Rank: 14
BWBIX Omega Ratio Rank: 13
BWBIX Calmar Ratio Rank: 14
BWBIX Martin Ratio Rank: 15

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.

FTDWX vs. BWBIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Asset Manager 20% Fund Class M (FTDWX) and Baron WealthBuilder Fund (BWBIX). 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.

	FTDWX	BWBIX	Difference
Sharpe ratio: Return per unit of total volatility	2.35	0.89	+1.45
Sortino ratio: Return per unit of downside risk	3.40	1.42	+1.98
Omega ratio: Gain probability vs. loss probability	1.48	1.17	+0.31
Calmar ratio: Return relative to maximum drawdown	3.12	1.20	+1.92
Martin ratio: Return relative to average drawdown	13.44	3.93	+9.51

FTDWX vs. BWBIX - Sharpe Ratio Comparison

The current FTDWX Sharpe Ratio is 2.35, which is higher than the BWBIX Sharpe Ratio of 0.89. The chart below compares the historical Sharpe Ratios of FTDWX and BWBIX, 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

FTDWX vs. BWBIX - Drawdown Comparison

The maximum FTDWX drawdown since its inception was -20.00%, smaller than the maximum BWBIX drawdown of -39.14%. Use the drawdown chart below to compare losses from any high point for FTDWX and BWBIX.

Drawdown Indicators

	FTDWX	BWBIX	Difference
Max Drawdown Largest peak-to-trough decline	-20.00%	-39.14%	+19.14%
Max Drawdown (1Y) Largest decline over 1 year	-3.34%	-11.65%	+8.31%
Max Drawdown (3Y) Largest decline over 3 years	-4.99%	-21.59%	+16.60%
Max Drawdown (5Y) Largest decline over 5 years	-14.28%	-39.14%	+24.86%
Max Drawdown (10Y) Largest decline over 10 years	-14.28%	—	—
Current Drawdown Current decline from peak	-0.20%	-4.78%	+4.58%
Average Drawdown Average peak-to-trough decline	-2.27%	-11.65%	+9.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.77%	3.55%	-2.78%

Volatility

FTDWX vs. BWBIX - Volatility Comparison

The current volatility for Fidelity Advisor Asset Manager 20% Fund Class M (FTDWX) is 1.87%, while Baron WealthBuilder Fund (BWBIX) has a volatility of 7.20%. This indicates that FTDWX experiences smaller price fluctuations and is considered to be less risky than BWBIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FTDWX	BWBIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.87%	7.20%	-5.33%
Volatility (6M) Calculated over the trailing 6-month period	3.74%	11.71%	-7.97%
Volatility (1Y) Calculated over the trailing 1-year period	4.44%	15.67%	-11.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.10%	21.26%	-16.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.65%	23.18%	-18.53%

FTDWX vs. BWBIX - Expense Ratio Comparison

FTDWX has a 1.07% expense ratio, which is higher than BWBIX's 0.05% expense ratio.

Dividends

FTDWX vs. BWBIX - Dividend Comparison

FTDWX's dividend yield for the trailing twelve months is around 2.56%, less than BWBIX's 7.46% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BWBIX Baron WealthBuilder Fund	7.46%	7.61%	0.77%	0.06%	3.21%	3.75%	1.24%	3.51%	0.14%	0.00%	0.00%	0.00%
FTDWX Fidelity Advisor Asset Manager 20% Fund Class M	2.56%	2.59%	2.81%	2.64%	3.99%	1.09%	1.62%	2.47%	3.51%	2.75%	1.36%	3.38%

Frequently Asked Questions

Can I hold both FTDWX and BWBIX in my portfolio?

FTDWX and BWBIX have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FTDWX or BWBIX?

BWBIX has higher volatility (7.20%) compared to FTDWX (1.87%). In terms of maximum drawdown, FTDWX dropped -20.00% vs BWBIX's -39.14%.

Which has better risk-adjusted returns?

FTDWX currently has the higher Sharpe Ratio (2.35 vs 0.89), 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.