IHAYX vs. FRGAX

Last updated Jun 24, 2026

IHAYX (Hartford Multi-Asset Income Fund) and FRGAX (Fidelity 70% Allocation Fund) are both Diversified Portfolio funds. Over the past 3 years, IHAYX returned 10.30%/yr vs 15.75%/yr for FRGAX. Their correlation of 0.88 suggests significant overlap in exposure. IHAYX charges 0.74%/yr vs 0.02%/yr for FRGAX.

Performance

IHAYX vs. FRGAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hartford Multi-Asset Income Fund (IHAYX) 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, IHAYX achieves a 5.08% return, which is significantly lower than FRGAX's 8.57% return.

IHAYX

• 1D: -0.10%
• 1M: 0.96%
• YTD: 5.08%
• 6M: 5.07%
• 1Y: 13.87%
• 3Y*: 10.30%
• 5Y*: 4.94%
• 10Y*: 6.54%

FRGAX

• 1D: -0.22%
• 1M: 1.04%
• YTD: 8.57%
• 6M: 8.05%
• 1Y: 20.59%
• 3Y*: 15.75%
• 5Y*: —
• 10Y*: —

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

IHAYX vs. FRGAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
IHAYX Hartford Multi-Asset Income Fund	5.08%	13.26%	6.54%	10.55%	0.62%
FRGAX Fidelity 70% Allocation Fund	8.57%	17.10%	12.91%	17.57%	-1.63%

Correlation

The correlation between IHAYX and FRGAX is 0.91, 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	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (All Time) Calculated using the full available price history since Nov 22, 2022	0.88

The correlation between IHAYX and FRGAX has been stable across timeframes, ranging from 0.88 to 0.91 - a consistent structural relationship.

Return for Risk

IHAYX vs. FRGAX — Risk / Return Rank

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

IHAYX

IHAYX Risk / Return Rank: 70
IHAYX Sharpe Ratio Rank: 79
IHAYX Sortino Ratio Rank: 76
IHAYX Omega Ratio Rank: 80
IHAYX Calmar Ratio Rank: 54
IHAYX Martin Ratio Rank: 62

FRGAX

FRGAX Risk / Return Rank: 71
FRGAX Sharpe Ratio Rank: 70
FRGAX Sortino Ratio Rank: 69
FRGAX Omega Ratio Rank: 69
FRGAX Calmar Ratio Rank: 70
FRGAX Martin Ratio Rank: 76

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.

IHAYX vs. FRGAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hartford Multi-Asset Income Fund (IHAYX) 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.

	IHAYX	FRGAX	Difference
Sharpe ratio: Return per unit of total volatility	2.41	2.24	+0.16
Sortino ratio: Return per unit of downside risk	3.34	3.15	+0.20
Omega ratio: Gain probability vs. loss probability	1.48	1.42	+0.06
Calmar ratio: Return relative to maximum drawdown	2.71	3.06	-0.35
Martin ratio: Return relative to average drawdown	11.42	13.35	-1.93

IHAYX vs. FRGAX - Sharpe Ratio Comparison

The current IHAYX Sharpe Ratio is 2.41, which is comparable to the FRGAX Sharpe Ratio of 2.24. The chart below compares the historical Sharpe Ratios of IHAYX 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

IHAYX vs. FRGAX - Drawdown Comparison

The maximum IHAYX drawdown since its inception was -45.46%, which is greater than FRGAX's maximum drawdown of -11.77%. Use the drawdown chart below to compare losses from any high point for IHAYX and FRGAX.

Drawdown Indicators

	IHAYX	FRGAX	Difference
Max Drawdown Largest peak-to-trough decline	-45.46%	-11.77%	-33.69%
Max Drawdown (1Y) Largest decline over 1 year	-5.34%	-7.03%	+1.69%
Max Drawdown (3Y) Largest decline over 3 years	-6.99%	-11.77%	+4.78%
Max Drawdown (5Y) Largest decline over 5 years	-16.52%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-19.39%	—	—
Current Drawdown Current decline from peak	-0.38%	-0.73%	+0.35%
Average Drawdown Average peak-to-trough decline	-5.27%	-1.58%	-3.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.26%	1.61%	-0.35%

Volatility

IHAYX vs. FRGAX - Volatility Comparison

The current volatility for Hartford Multi-Asset Income Fund (IHAYX) is 2.21%, while Fidelity 70% Allocation Fund (FRGAX) has a volatility of 3.80%. This indicates that IHAYX experiences smaller price fluctuations and is considered to be less risky than FRGAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IHAYX	FRGAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.21%	3.80%	-1.59%
Volatility (6M) Calculated over the trailing 6-month period	5.12%	7.93%	-2.81%
Volatility (1Y) Calculated over the trailing 1-year period	6.02%	9.62%	-3.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.52%	10.41%	-3.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.34%	10.41%	-3.07%

IHAYX vs. FRGAX - Expense Ratio Comparison

IHAYX has a 0.74% expense ratio, which is higher than FRGAX's 0.02% expense ratio.

Dividends

IHAYX vs. FRGAX - Dividend Comparison

IHAYX's dividend yield for the trailing twelve months is around 6.23%, more than FRGAX's 1.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FRGAX Fidelity 70% Allocation Fund	1.85%	2.00%	2.01%	1.77%	1.71%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IHAYX Hartford Multi-Asset Income Fund	6.23%	6.46%	5.19%	4.05%	4.77%	7.52%	3.24%	18.46%	8.98%	1.51%	1.67%	2.20%

Frequently Asked Questions

Can I hold both IHAYX and FRGAX in my portfolio?

With a correlation of 0.91, IHAYX 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, IHAYX or FRGAX?

FRGAX has higher volatility (3.80%) compared to IHAYX (2.21%). In terms of maximum drawdown, IHAYX dropped -45.46% vs FRGAX's -11.77%.

Which has better risk-adjusted returns?

IHAYX currently has the higher Sharpe Ratio (2.41 vs 2.24), 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.