IYLD vs. FXAIX
IYLD (iShares Morningstar Multi-Asset Income ETF) and FXAIX (Fidelity 500 Index Fund) are both funds - IYLD is a Diversified Portfolio fund tracking the Morningstar Multi-Asset High Income Index, while FXAIX is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, IYLD returned 4.10%/yr vs 15.58%/yr for FXAIX. A 0.64 correlation means they provide meaningful diversification when combined. IYLD charges 0.60%/yr vs 0.02%/yr for FXAIX.
Performance
IYLD vs. FXAIX - Performance Comparison
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Returns By Period
In the year-to-date period, IYLD achieves a 5.27% return, which is significantly lower than FXAIX's 10.19% return. Over the past 10 years, IYLD has underperformed FXAIX with an annualized return of 4.10%, while FXAIX has yielded a comparatively higher 15.58% annualized return.
IYLD
- 1D
- -0.06%
- 1M
- 0.56%
- YTD
- 5.27%
- 6M
- 5.48%
- 1Y
- 14.00%
- 3Y*
- 10.68%
- 5Y*
- 3.38%
- 10Y*
- 4.10%
FXAIX
- 1D
- 1.09%
- 1M
- 0.47%
- YTD
- 10.19%
- 6M
- 9.68%
- 1Y
- 27.18%
- 3Y*
- 20.98%
- 5Y*
- 14.10%
- 10Y*
- 15.58%
IYLD vs. FXAIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IYLD iShares Morningstar Multi-Asset Income ETF | 5.27% | 15.44% | 2.00% | 12.55% | -16.80% | 3.37% | -1.18% | 15.82% | -4.77% | 10.90% |
FXAIX Fidelity 500 Index Fund | 10.19% | 17.84% | 25.01% | 26.29% | -18.14% | 28.71% | 18.42% | 31.48% | -4.43% | 21.82% |
Correlation
The correlation between IYLD and FXAIX is 0.69, 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 | 0.69 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.62 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.65 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.66 |
Correlation (All Time) Calculated using the full available price history since Apr 5, 2012 | 0.64 |
The correlation between IYLD and FXAIX has been stable across timeframes, ranging from 0.62 to 0.69 - a consistent structural relationship.
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Return for Risk
IYLD vs. FXAIX — Risk / Return Rank
IYLD
FXAIX
IYLD vs. FXAIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Morningstar Multi-Asset Income ETF (IYLD) and Fidelity 500 Index Fund (FXAIX). 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.
| IYLD | FXAIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.25 | ||
| Sortino ratioReturn per unit of downside risk | +0.65 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.39 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 3.03 | 3.04 | -0.01 |
| Martin ratioReturn relative to average drawdown | 11.69 | 13.75 | -2.06 |
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Drawdowns
IYLD vs. FXAIX - Drawdown Comparison
The maximum IYLD drawdown since its inception was -30.23%, smaller than the maximum FXAIX drawdown of -33.79%. Use the drawdown chart below to compare losses from any high point for IYLD and FXAIX.
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Drawdown Indicators
| IYLD | FXAIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.23% | -33.79% | +3.56% |
Max Drawdown (1Y)Largest decline over 1 year | -4.63% | -8.89% | +4.26% |
Max Drawdown (3Y)Largest decline over 3 years | -5.20% | -18.76% | +13.56% |
Max Drawdown (5Y)Largest decline over 5 years | -22.57% | -24.50% | +1.93% |
Max Drawdown (10Y)Largest decline over 10 years | -30.23% | -33.79% | +3.56% |
Current DrawdownCurrent decline from peak | -0.25% | -1.36% | +1.11% |
Average DrawdownAverage peak-to-trough decline | -4.52% | -3.79% | -0.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.20% | 1.96% | -0.76% |
Volatility
IYLD vs. FXAIX - Volatility Comparison
The current volatility for iShares Morningstar Multi-Asset Income ETF (IYLD) is 1.41%, while Fidelity 500 Index Fund (FXAIX) has a volatility of 4.77%. This indicates that IYLD experiences smaller price fluctuations and is considered to be less risky than FXAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IYLD | FXAIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.41% | 4.77% | -3.36% |
Volatility (6M)Calculated over the trailing 6-month period | 4.75% | 9.91% | -5.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.83% | 12.47% | -6.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.87% | 17.01% | -9.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 9.58% | 18.11% | -8.53% |
IYLD vs. FXAIX - Expense Ratio Comparison
IYLD has a 0.60% expense ratio, which is higher than FXAIX's 0.02% expense ratio.
Dividends
IYLD vs. FXAIX - Dividend Comparison
IYLD's dividend yield for the trailing twelve months is around 4.59%, more than FXAIX's 1.04% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FXAIX Fidelity 500 Index Fund | 1.04% | 1.11% | 1.25% | 1.45% | 1.69% | 1.22% | 1.60% | 2.06% | 2.72% | 1.97% | 2.52% | 2.83% |
IYLD iShares Morningstar Multi-Asset Income ETF | 4.59% | 4.72% | 5.32% | 5.76% | 5.45% | 3.47% | 4.38% | 5.25% | 5.78% | 4.22% | 4.84% | 5.26% |
Frequently Asked Questions
IYLD and FXAIX have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FXAIX has higher volatility (4.77%) compared to IYLD (1.41%). In terms of maximum drawdown, IYLD dropped -30.23% vs FXAIX's -33.79%.
IYLD currently has the higher Sharpe Ratio (2.42 vs 2.17), 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.
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