FYMIX vs. FRGAX

Last updated Jun 26, 2026

FYMIX (Fidelity Sustainable Multi-Asset Fund) and FRGAX (Fidelity 70% Allocation Fund) are both Diversified Portfolio funds from Fidelity. Over the past 3 years, FYMIX returned 15.11%/yr vs 15.32%/yr for FRGAX. With a 0.97 correlation, they move nearly in lockstep. FYMIX charges 0.05%/yr vs 0.02%/yr for FRGAX.

Performance

FYMIX vs. FRGAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Sustainable Multi-Asset Fund (FYMIX) and Fidelity 70% Allocation Fund (FRGAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FYMIX achieves a 8.11% return, which is significantly higher than FRGAX's 7.37% return.

FYMIX

• 1D: 0.08%
• 1M: -0.93%
• YTD: 8.11%
• 6M: 7.54%
• 1Y: 19.78%
• 3Y*: 15.11%
• 5Y*: —
• 10Y*: —

FRGAX

• 1D: 0.07%
• 1M: -0.89%
• YTD: 7.37%
• 6M: 6.61%
• 1Y: 18.12%
• 3Y*: 15.32%
• 5Y*: —
• 10Y*: —

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

FYMIX vs. FRGAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
FYMIX Fidelity Sustainable Multi-Asset Fund	8.11%	18.95%	11.09%	16.15%	-0.13%
FRGAX Fidelity 70% Allocation Fund	7.37%	17.10%	12.91%	17.57%	-1.63%

Correlation

The correlation between FYMIX and FRGAX 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	0.98
Correlation (All Time) Calculated using the full available price history since Nov 22, 2022	0.97

The correlation between FYMIX and FRGAX has been stable across timeframes, ranging from 0.97 to 0.98 - a consistent structural relationship.

Return for Risk

FYMIX vs. FRGAX — Risk / Return Rank

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

FYMIX

FYMIX Risk / Return Rank: 50
FYMIX Sharpe Ratio Rank: 50
FYMIX Sortino Ratio Rank: 48
FYMIX Omega Ratio Rank: 50
FYMIX Calmar Ratio Rank: 46
FYMIX Martin Ratio Rank: 55

FRGAX

FRGAX Risk / Return Rank: 62
FRGAX Sharpe Ratio Rank: 60
FRGAX Sortino Ratio Rank: 60
FRGAX Omega Ratio Rank: 60
FRGAX Calmar Ratio Rank: 60
FRGAX Martin Ratio Rank: 69

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.

FYMIX vs. FRGAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Sustainable Multi-Asset Fund (FYMIX) and Fidelity 70% Allocation Fund (FRGAX). 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.

	FYMIX	FRGAX	Difference
Sharpe ratio: Return per unit of total volatility	1.72	1.89	-0.17
Sortino ratio: Return per unit of downside risk	2.41	2.66	-0.25
Omega ratio: Gain probability vs. loss probability	1.32	1.35	-0.03
Calmar ratio: Return relative to maximum drawdown	2.26	2.59	-0.33
Martin ratio: Return relative to average drawdown	9.60	11.22	-1.61

FYMIX vs. FRGAX - Sharpe Ratio Comparison

The current FYMIX Sharpe Ratio is 1.72, which is comparable to the FRGAX Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of FYMIX and FRGAX, 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

FYMIX vs. FRGAX - Drawdown Comparison

The maximum FYMIX drawdown since its inception was -22.70%, which is greater than FRGAX's maximum drawdown of -11.77%. Use the drawdown chart below to compare losses from any high point for FYMIX and FRGAX.

Drawdown Indicators

	FYMIX	FRGAX	Difference
Max Drawdown Largest peak-to-trough decline	-22.70%	-11.77%	-10.93%
Max Drawdown (1Y) Largest decline over 1 year	-8.80%	-7.03%	-1.77%
Max Drawdown (3Y) Largest decline over 3 years	-12.72%	-11.77%	-0.95%
Current Drawdown Current decline from peak	-1.84%	-1.83%	-0.01%
Average Drawdown Average peak-to-trough decline	-5.58%	-1.58%	-4.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.06%	1.61%	+0.45%

Volatility

FYMIX vs. FRGAX - Volatility Comparison

Fidelity Sustainable Multi-Asset Fund (FYMIX) has a higher volatility of 4.87% compared to Fidelity 70% Allocation Fund (FRGAX) at 3.98%. This indicates that FYMIX's price experiences larger fluctuations and is considered to be riskier than FRGAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FYMIX	FRGAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.87%	3.98%	+0.89%
Volatility (6M) Calculated over the trailing 6-month period	9.84%	7.98%	+1.86%
Volatility (1Y) Calculated over the trailing 1-year period	11.57%	9.66%	+1.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.82%	10.41%	+2.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.82%	10.41%	+2.41%

FYMIX vs. FRGAX - Expense Ratio Comparison

FYMIX has a 0.05% expense ratio, which is higher than FRGAX's 0.02% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

FYMIX vs. FRGAX - Dividend Comparison

FYMIX's dividend yield for the trailing twelve months is around 3.41%, more than FRGAX's 1.87% yield.

Position	TTM	2025	2024	2023	2022
FRGAX Fidelity 70% Allocation Fund	1.87%	2.00%	2.01%	1.77%	1.71%
FYMIX Fidelity Sustainable Multi-Asset Fund	3.41%	3.69%	1.84%	1.78%	1.79%

Frequently Asked Questions

Can I hold both FYMIX and FRGAX in my portfolio?

With a correlation of 0.97, FYMIX and FRGAX 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, FYMIX or FRGAX?

FYMIX has higher volatility (4.87%) compared to FRGAX (3.98%). In terms of maximum drawdown, FYMIX dropped -22.70% vs FRGAX's -11.77%.

Which has better risk-adjusted returns?

FRGAX currently has the higher Sharpe Ratio (1.89 vs 1.72), 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.