LUNAX vs. FYMIX

Last updated Jun 3, 2026

LUNAX (Saratoga Conservative Balanced Allocation Portfolio) and FYMIX (Fidelity Sustainable Multi-Asset Fund) are both Diversified Portfolio funds. Over the past 3 years, LUNAX returned 9.92%/yr vs 15.93%/yr for FYMIX. Their correlation of 0.90 suggests significant overlap in exposure. LUNAX charges 0.99%/yr vs 0.05%/yr for FYMIX.

Performance

LUNAX vs. FYMIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Saratoga Conservative Balanced Allocation Portfolio (LUNAX) 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, LUNAX achieves a 3.20% return, which is significantly lower than FYMIX's 9.97% return.

LUNAX

• 1D: 0.09%
• 1M: 1.31%
• YTD: 3.20%
• 6M: 3.49%
• 1Y: 11.29%
• 3Y*: 9.92%
• 5Y*: 5.35%
• 10Y*: —

FYMIX

• 1D: 0.54%
• 1M: 3.83%
• YTD: 9.97%
• 6M: 11.28%
• 1Y: 24.54%
• 3Y*: 15.93%
• 5Y*: —
• 10Y*: —

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

LUNAX vs. FYMIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
LUNAX Saratoga Conservative Balanced Allocation Portfolio	3.20%	10.95%	8.76%	9.89%	-6.38%
FYMIX Fidelity Sustainable Multi-Asset Fund	9.97%	18.95%	11.09%	16.15%	-15.71%

Correlation

The correlation between LUNAX and FYMIX is 0.87, 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	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (All Time) Calculated using the full available price history since Feb 11, 2022	0.90

The correlation between LUNAX and FYMIX has been stable across timeframes, ranging from 0.87 to 0.90 - a consistent structural relationship.

Return for Risk

LUNAX vs. FYMIX — Risk / Return Rank

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

LUNAX

LUNAX Risk / Return Rank: 37
LUNAX Sharpe Ratio Rank: 36
LUNAX Sortino Ratio Rank: 37
LUNAX Omega Ratio Rank: 35
LUNAX Calmar Ratio Rank: 32
LUNAX Martin Ratio Rank: 43

FYMIX

FYMIX Risk / Return Rank: 60
FYMIX Sharpe Ratio Rank: 62
FYMIX Sortino Ratio Rank: 60
FYMIX Omega Ratio Rank: 61
FYMIX Calmar Ratio Rank: 54
FYMIX Martin Ratio Rank: 61

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.

LUNAX vs. FYMIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Saratoga Conservative Balanced Allocation Portfolio (LUNAX) 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.

	LUNAX	FYMIX	Difference
Sharpe ratio Return per unit of total volatility	1.72	2.33	-0.61
Sortino ratio Return per unit of downside risk	2.55	3.26	-0.71
Omega ratio Gain probability vs. loss probability	1.31	1.44	-0.12
Calmar ratio Return relative to maximum drawdown	2.14	2.83	-0.69
Martin ratio Return relative to average drawdown	9.24	12.26	-3.01
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LUNAX vs. FYMIX - Sharpe Ratio Comparison

The current LUNAX Sharpe Ratio is 1.72, which is comparable to the FYMIX Sharpe Ratio of 2.33. The chart below compares the historical Sharpe Ratios of LUNAX 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.

Sharpe Ratios by Period

	LUNAX	FYMIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.72	2.33	-0.61
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.72	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.66	0.68	-0.02

Drawdowns

LUNAX vs. FYMIX - Drawdown Comparison

The maximum LUNAX drawdown since its inception was -18.47%, smaller than the maximum FYMIX drawdown of -22.70%. Use the drawdown chart below to compare losses from any high point for LUNAX and FYMIX.

Drawdown Indicators

	LUNAX	FYMIX	Difference
Max Drawdown Largest peak-to-trough decline	-18.47%	-22.70%	+4.23%
Max Drawdown (1Y) Largest decline over 1 year	-5.41%	-8.80%	+3.39%
Max Drawdown (3Y) Largest decline over 3 years	-7.83%	-12.72%	+4.89%
Max Drawdown (5Y) Largest decline over 5 years	-11.78%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-2.85%	-5.65%	+2.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.25%	2.03%	-0.78%

Volatility

LUNAX vs. FYMIX - Volatility Comparison

The current volatility for Saratoga Conservative Balanced Allocation Portfolio (LUNAX) is 2.09%, while Fidelity Sustainable Multi-Asset Fund (FYMIX) has a volatility of 3.55%. This indicates that LUNAX experiences smaller price fluctuations and is considered to be less risky than FYMIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LUNAX	FYMIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.09%	3.55%	-1.46%
Volatility (6M) Calculated over the trailing 6-month period	5.32%	8.85%	-3.53%
Volatility (1Y) Calculated over the trailing 1-year period	6.63%	10.81%	-4.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.48%	12.73%	-5.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.75%	12.73%	-3.98%

LUNAX vs. FYMIX - Expense Ratio Comparison

LUNAX has a 0.99% expense ratio, which is higher than FYMIX's 0.05% expense ratio.

Dividends

LUNAX vs. FYMIX - Dividend Comparison

LUNAX's dividend yield for the trailing twelve months is around 9.07%, more than FYMIX's 3.35% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
FYMIX Fidelity Sustainable Multi-Asset Fund	3.35%	3.69%	1.84%	1.78%	1.79%	0.00%	0.00%	0.00%	0.00%
LUNAX Saratoga Conservative Balanced Allocation Portfolio	9.07%	9.36%	3.54%	2.54%	4.91%	7.81%	0.46%	3.57%	2.14%

Frequently Asked Questions

Can I hold both LUNAX and FYMIX in my portfolio?

LUNAX and FYMIX have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LUNAX or FYMIX?

FYMIX has higher volatility (3.55%) compared to LUNAX (2.09%). In terms of maximum drawdown, LUNAX dropped -18.47% vs FYMIX's -22.70%.

Which has better risk-adjusted returns?

FYMIX currently has the higher Sharpe Ratio (2.33 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.