LEKIX vs. FFANX

Last updated Jun 24, 2026

LEKIX (BlackRock LifePath ESG Index 2040 Fund) and FFANX (Fidelity Asset Manager 40% Fund) are both mutual funds - LEKIX is a Target Retirement Date fund managed by BlackRock, while FFANX is a Diversified Portfolio fund managed by BlackRock. Over the past 5 years, LEKIX returned 7.32%/yr vs 5.36%/yr for FFANX. Their correlation of 0.94 suggests significant overlap in exposure. LEKIX charges 0.06%/yr vs 0.52%/yr for FFANX.

Performance

LEKIX vs. FFANX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock LifePath ESG Index 2040 Fund (LEKIX) and Fidelity Asset Manager 40% Fund (FFANX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LEKIX achieves a 9.43% return, which is significantly higher than FFANX's 7.45% return.

LEKIX

• 1D: 0.00%
• 1M: 1.46%
• YTD: 9.43%
• 6M: 8.91%
• 1Y: 21.47%
• 3Y*: 14.68%
• 5Y*: 7.32%
• 10Y*: —

FFANX

• 1D: -0.13%
• 1M: 1.41%
• YTD: 7.45%
• 6M: 7.31%
• 1Y: 16.42%
• 3Y*: 11.28%
• 5Y*: 5.36%
• 10Y*: 6.99%

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

LEKIX vs. FFANX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
LEKIX BlackRock LifePath ESG Index 2040 Fund	9.43%	17.47%	7.45%	18.96%	-17.72%	16.89%	12.05%
FFANX Fidelity Asset Manager 40% Fund	7.45%	13.16%	7.40%	11.52%	-13.62%	8.03%	7.53%

Correlation

The correlation between LEKIX and FFANX is 0.98 - 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	0.98
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (All Time) Calculated using the full available price history since Aug 18, 2020	0.94

The correlation between LEKIX and FFANX has been stable across timeframes, ranging from 0.94 to 0.98 - a consistent structural relationship.

Return for Risk

LEKIX vs. FFANX — Risk / Return Rank

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

LEKIX

LEKIX Risk / Return Rank: 65
LEKIX Sharpe Ratio Rank: 66
LEKIX Sortino Ratio Rank: 63
LEKIX Omega Ratio Rank: 63
LEKIX Calmar Ratio Rank: 64
LEKIX Martin Ratio Rank: 71

FFANX

FFANX Risk / Return Rank: 79
FFANX Sharpe Ratio Rank: 79
FFANX Sortino Ratio Rank: 79
FFANX Omega Ratio Rank: 79
FFANX Calmar Ratio Rank: 76
FFANX Martin Ratio Rank: 81

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.

LEKIX vs. FFANX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock LifePath ESG Index 2040 Fund (LEKIX) and Fidelity Asset Manager 40% Fund (FFANX). 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.

	LEKIX	FFANX	Difference
Sharpe ratio: Return per unit of total volatility	2.18	2.41	-0.23
Sortino ratio: Return per unit of downside risk	3.04	3.45	-0.40
Omega ratio: Gain probability vs. loss probability	1.40	1.47	-0.07
Calmar ratio: Return relative to maximum drawdown	2.94	3.27	-0.33
Martin ratio: Return relative to average drawdown	12.74	13.95	-1.21

LEKIX vs. FFANX - Sharpe Ratio Comparison

The current LEKIX Sharpe Ratio is 2.18, which is comparable to the FFANX Sharpe Ratio of 2.41. The chart below compares the historical Sharpe Ratios of LEKIX and FFANX, 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

LEKIX vs. FFANX - Drawdown Comparison

The maximum LEKIX drawdown since its inception was -25.28%, smaller than the maximum FFANX drawdown of -31.69%. Use the drawdown chart below to compare losses from any high point for LEKIX and FFANX.

Drawdown Indicators

	LEKIX	FFANX	Difference
Max Drawdown Largest peak-to-trough decline	-25.28%	-31.69%	+6.41%
Max Drawdown (1Y) Largest decline over 1 year	-7.64%	-5.20%	-2.44%
Max Drawdown (3Y) Largest decline over 3 years	-16.24%	-7.55%	-8.69%
Max Drawdown (5Y) Largest decline over 5 years	-25.28%	-18.52%	-6.76%
Max Drawdown (10Y) Largest decline over 10 years	—	-18.52%	—
Current Drawdown Current decline from peak	-0.50%	-0.13%	-0.37%
Average Drawdown Average peak-to-trough decline	-5.61%	-3.79%	-1.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.76%	1.22%	+0.54%

Volatility

LEKIX vs. FFANX - Volatility Comparison

BlackRock LifePath ESG Index 2040 Fund (LEKIX) has a higher volatility of 4.01% compared to Fidelity Asset Manager 40% Fund (FFANX) at 2.94%. This indicates that LEKIX's price experiences larger fluctuations and is considered to be riskier than FFANX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LEKIX	FFANX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.01%	2.94%	+1.07%
Volatility (6M) Calculated over the trailing 6-month period	8.58%	6.01%	+2.57%
Volatility (1Y) Calculated over the trailing 1-year period	10.34%	7.09%	+3.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.36%	7.94%	+5.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.25%	7.74%	+5.51%

LEKIX vs. FFANX - Expense Ratio Comparison

LEKIX has a 0.06% expense ratio, which is lower than FFANX's 0.52% expense ratio.

Dividends

LEKIX vs. FFANX - Dividend Comparison

LEKIX's dividend yield for the trailing twelve months is around 1.76%, less than FFANX's 3.65% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FFANX Fidelity Asset Manager 40% Fund	3.65%	3.97%	2.81%	2.49%	5.75%	2.35%	2.36%	3.67%	4.56%	2.56%	1.43%	3.18%
LEKIX BlackRock LifePath ESG Index 2040 Fund	1.76%	1.92%	0.00%	2.22%	2.08%	2.85%	0.84%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both LEKIX and FFANX in my portfolio?

With a correlation of 0.98, LEKIX and FFANX 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, LEKIX or FFANX?

LEKIX has higher volatility (4.01%) compared to FFANX (2.94%). In terms of maximum drawdown, LEKIX dropped -25.28% vs FFANX's -31.69%.

Which has better risk-adjusted returns?

FFANX currently has the higher Sharpe Ratio (2.40 vs 2.18), 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.