SGOVX vs. FBALX

Last updated Jun 9, 2026

SGOVX (First Eagle Overseas Fund) and FBALX (Fidelity Balanced Fund) are both mutual funds - SGOVX is a Foreign Large Cap Equities fund managed by First Eagle, while FBALX is a Diversified Portfolio fund actively managed by Fidelity. Over the past 10 years, SGOVX returned 7.84%/yr vs 11.48%/yr for FBALX. A 0.51 correlation means they provide meaningful diversification when combined. SGOVX charges 1.16%/yr vs 0.46%/yr for FBALX.

Performance

SGOVX vs. FBALX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Eagle Overseas Fund (SGOVX) and Fidelity Balanced Fund (FBALX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SGOVX achieves a 6.68% return, which is significantly lower than FBALX's 7.96% return. Over the past 10 years, SGOVX has underperformed FBALX with an annualized return of 7.84%, while FBALX has yielded a comparatively higher 11.48% annualized return.

SGOVX

• 1D: -2.41%
• 1M: -3.34%
• YTD: 6.68%
• 6M: 9.38%
• 1Y: 24.57%
• 3Y*: 17.41%
• 5Y*: 9.10%
• 10Y*: 7.84%

FBALX

• 1D: -2.10%
• 1M: -0.35%
• YTD: 7.96%
• 6M: 8.36%
• 1Y: 21.65%
• 3Y*: 15.93%
• 5Y*: 8.87%
• 10Y*: 11.48%

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

SGOVX vs. FBALX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SGOVX First Eagle Overseas Fund	6.68%	38.69%	6.16%	10.41%	-8.07%	4.94%	6.95%	17.60%	-10.26%	14.06%
FBALX Fidelity Balanced Fund	7.96%	15.11%	16.09%	20.31%	-18.29%	18.27%	22.45%	24.40%	-3.98%	16.52%

Correlation

The correlation between SGOVX and FBALX is 0.65, 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	0.65
Correlation (3Y) Calculated over the trailing 3-year period	0.63
Correlation (5Y) Calculated over the trailing 5-year period	0.69
Correlation (10Y) Calculated over the trailing 10-year period	0.70
Correlation (All Time) Calculated using the full available price history since Jan 4, 1994	0.51

The correlation between SGOVX and FBALX shifts across timeframes, from 0.51 (all time) to 0.70 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

SGOVX vs. FBALX — Risk / Return Rank

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

SGOVX

SGOVX Risk / Return Rank: 42
SGOVX Sharpe Ratio Rank: 50
SGOVX Sortino Ratio Rank: 42
SGOVX Omega Ratio Rank: 50
SGOVX Calmar Ratio Rank: 36
SGOVX Martin Ratio Rank: 34

FBALX

FBALX Risk / Return Rank: 79
FBALX Sharpe Ratio Rank: 79
FBALX Sortino Ratio Rank: 73
FBALX Omega Ratio Rank: 76
FBALX Calmar Ratio Rank: 79
FBALX Martin Ratio Rank: 88

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.

SGOVX vs. FBALX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Eagle Overseas Fund (SGOVX) and Fidelity Balanced Fund (FBALX). 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.

	SGOVX	FBALX	Difference
Sharpe ratio: Return per unit of total volatility	1.97	2.52	-0.55
Sortino ratio: Return per unit of downside risk	2.60	3.48	-0.88
Omega ratio: Gain probability vs. loss probability	1.37	1.48	-0.11
Calmar ratio: Return relative to maximum drawdown	2.16	3.46	-1.30
Martin ratio: Return relative to average drawdown	7.26	16.47	-9.21
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SGOVX vs. FBALX - Sharpe Ratio Comparison

The current SGOVX Sharpe Ratio is 1.97, which is comparable to the FBALX Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of SGOVX and FBALX, 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

	SGOVX	FBALX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.97	2.52	-0.55
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.77	0.73	+0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.69	0.90	-0.21
Sharpe Ratio (All Time) Calculated using the full available price history	0.88	0.81	+0.07

Drawdowns

SGOVX vs. FBALX - Drawdown Comparison

The maximum SGOVX drawdown since its inception was -35.68%, smaller than the maximum FBALX drawdown of -43.57%. Use the drawdown chart below to compare losses from any high point for SGOVX and FBALX.

Drawdown Indicators

	SGOVX	FBALX	Difference
Max Drawdown Largest peak-to-trough decline	-35.68%	-43.57%	+7.89%
Max Drawdown (1Y) Largest decline over 1 year	-11.38%	-6.47%	-4.91%
Max Drawdown (3Y) Largest decline over 3 years	-11.38%	-12.88%	+1.50%
Max Drawdown (5Y) Largest decline over 5 years	-21.60%	-22.89%	+1.29%
Max Drawdown (10Y) Largest decline over 10 years	-24.85%	-26.68%	+1.83%
Current Drawdown Current decline from peak	-6.35%	-2.12%	-4.23%
Average Drawdown Average peak-to-trough decline	-4.46%	-4.37%	-0.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.37%	1.35%	+2.02%

Volatility

SGOVX vs. FBALX - Volatility Comparison

First Eagle Overseas Fund (SGOVX) has a higher volatility of 3.58% compared to Fidelity Balanced Fund (FBALX) at 3.23%. This indicates that SGOVX's price experiences larger fluctuations and is considered to be riskier than FBALX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SGOVX	FBALX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.58%	3.23%	+0.35%
Volatility (6M) Calculated over the trailing 6-month period	10.57%	7.15%	+3.42%
Volatility (1Y) Calculated over the trailing 1-year period	12.45%	8.87%	+3.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.93%	12.21%	-0.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.45%	12.79%	-1.34%

SGOVX vs. FBALX - Expense Ratio Comparison

SGOVX has a 1.16% expense ratio, which is higher than FBALX's 0.46% expense ratio.

Dividends

SGOVX vs. FBALX - Dividend Comparison

SGOVX's dividend yield for the trailing twelve months is around 7.94%, more than FBALX's 5.25% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FBALX Fidelity Balanced Fund	5.25%	5.69%	5.67%	2.28%	8.06%	9.66%	5.90%	4.24%	10.99%	7.90%	3.07%	7.70%
SGOVX First Eagle Overseas Fund	7.94%	8.47%	8.43%	2.24%	3.62%	5.76%	0.21%	5.54%	3.05%	3.40%	3.59%	1.32%

Frequently Asked Questions

Can I hold both SGOVX and FBALX in my portfolio?

SGOVX and FBALX have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SGOVX or FBALX?

SGOVX has higher volatility (3.58%) compared to FBALX (3.23%). In terms of maximum drawdown, SGOVX dropped -35.68% vs FBALX's -43.57%.

Which has better risk-adjusted returns?

FBALX currently has the higher Sharpe Ratio (2.52 vs 1.97), 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.