FWATX vs. FYMIX

Last updated Jul 17, 2026

FWATX (Fidelity Advisor Multi-Asset Income Fund Class A) and FYMIX (Fidelity Sustainable Multi-Asset Fund) are both Diversified Portfolio funds from Fidelity. Over the past 3 years, FWATX returned 10.65%/yr vs 14.53%/yr for FYMIX. Their correlation of 0.85 suggests significant overlap in exposure. FWATX charges 1.05%/yr vs 0.05%/yr for FYMIX.

Performance

FWATX vs. FYMIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Multi-Asset Income Fund Class A (FWATX) and Fidelity Sustainable Multi-Asset Fund (FYMIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FWATX achieves a 5.31% return, which is significantly lower than FYMIX's 9.47% return.

FWATX

• 1D: -0.06%
• 1M: -1.78%
• 6M: 1.57%
• YTD: 5.31%
• 1Y: 12.37%
• 3Y*: 10.65%
• 5Y*: 5.73%
• 10Y*: 8.28%

FYMIX

• 1D: 0.39%
• 1M: -0.31%
• 6M: 6.94%
• YTD: 9.47%
• 1Y: 19.55%
• 3Y*: 14.53%
• 5Y*: —
• 10Y*: —

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

FWATX vs. FYMIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FWATX Fidelity Advisor Multi-Asset Income Fund Class A	5.31%	13.85%	9.33%	11.46%	-12.53%
FYMIX Fidelity Sustainable Multi-Asset Fund	9.47%	18.95%	11.09%	16.15%	-15.71%

Correlation

The correlation between FWATX and FYMIX is 0.80, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (All Time) Calculated using the full available price history since Feb 10, 2022	0.85

The correlation between FWATX and FYMIX has been stable across timeframes, ranging from 0.80 to 0.85 - a consistent structural relationship.

Return for Risk

FWATX vs. FYMIX — Risk / Return Rank

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

FWATX

FWATX Risk / Return Rank: 29
FWATX Sharpe Ratio Rank: 27
FWATX Sortino Ratio Rank: 24
FWATX Omega Ratio Rank: 26
FWATX Calmar Ratio Rank: 38
FWATX Martin Ratio Rank: 32

FYMIX

FYMIX Risk / Return Rank: 58
FYMIX Sharpe Ratio Rank: 58
FYMIX Sortino Ratio Rank: 56
FYMIX Omega Ratio Rank: 58
FYMIX Calmar Ratio Rank: 53
FYMIX Martin Ratio Rank: 62

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.

FWATX vs. FYMIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Multi-Asset Income Fund Class A (FWATX) and Fidelity Sustainable Multi-Asset Fund (FYMIX). 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.

	FWATX	FYMIX	Difference
Sharpe ratio: Return per unit of total volatility	1.19	1.71	-0.52
Sortino ratio: Return per unit of downside risk	1.66	2.39	-0.74
Omega ratio: Gain probability vs. loss probability	1.21	1.32	-0.11
Calmar ratio: Return relative to maximum drawdown	1.97	2.27	-0.30
Martin ratio: Return relative to average drawdown	5.83	9.59	-3.76

FWATX vs. FYMIX - Sharpe Ratio Comparison

The current FWATX Sharpe Ratio is 1.19, which is lower than the FYMIX Sharpe Ratio of 1.71. The chart below compares the historical Sharpe Ratios of FWATX and FYMIX, 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

FWATX vs. FYMIX - Drawdown Comparison

The maximum FWATX drawdown since its inception was -21.66%, roughly equal to the maximum FYMIX drawdown of -22.70%. Use the drawdown chart below to compare losses from any high point for FWATX and FYMIX.

Drawdown Indicators

	FWATX	FYMIX	Difference
Max Drawdown Largest peak-to-trough decline	-21.66%	-22.70%	+1.04%
Max Drawdown (1Y) Largest decline over 1 year	-6.48%	-8.80%	+2.32%
Max Drawdown (3Y) Largest decline over 3 years	-13.25%	-12.72%	-0.53%
Max Drawdown (5Y) Largest decline over 5 years	-18.29%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-21.66%	—	—
Current Drawdown Current decline from peak	-3.44%	-0.61%	-2.83%
Average Drawdown Average peak-to-trough decline	-3.48%	-5.52%	+2.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.18%	2.08%	+0.10%

Volatility

FWATX vs. FYMIX - Volatility Comparison

Fidelity Advisor Multi-Asset Income Fund Class A (FWATX) has a higher volatility of 3.68% compared to Fidelity Sustainable Multi-Asset Fund (FYMIX) at 3.47%. This indicates that FWATX's price experiences larger fluctuations and is considered to be riskier than FYMIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FWATX	FYMIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.68%	3.47%	+0.21%
Volatility (6M) Calculated over the trailing 6-month period	8.51%	10.00%	-1.49%
Volatility (1Y) Calculated over the trailing 1-year period	10.73%	11.65%	-0.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.00%	12.79%	-2.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.92%	12.79%	-2.87%

FWATX vs. FYMIX - Expense Ratio Comparison

FWATX has a 1.05% expense ratio, which is higher than FYMIX's 0.05% expense ratio.

Dividends

FWATX vs. FYMIX - Dividend Comparison

FWATX's dividend yield for the trailing twelve months is around 3.42%, more than FYMIX's 3.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FWATX Fidelity Advisor Multi-Asset Income Fund Class A	3.42%	3.53%	3.28%	3.97%	3.52%	2.73%	3.18%	2.60%	2.71%	3.09%	8.02%
FYMIX Fidelity Sustainable Multi-Asset Fund	3.37%	3.69%	1.84%	1.78%	1.79%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FWATX and FYMIX in my portfolio?

FWATX and FYMIX have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FWATX or FYMIX?

FWATX has higher volatility (3.68%) compared to FYMIX (3.47%). In terms of maximum drawdown, FWATX dropped -21.66% vs FYMIX's -22.70%.

Which has better risk-adjusted returns?

FYMIX currently has the higher Sharpe Ratio (1.71 vs 1.19), 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.