STSEX vs. FAMRX

Last updated Jun 20, 2026

STSEX (BlackRock Exchange Portfolio) and FAMRX (Fidelity Asset Manager 85% Fund) are both mutual funds - STSEX is a Large Cap Blend Equities fund managed by BlackRock, while FAMRX is a Diversified Portfolio fund managed by BlackRock. Over the past 10 years, STSEX returned 13.28%/yr vs 11.84%/yr for FAMRX. Their correlation of 0.85 suggests significant overlap in exposure. STSEX charges 0.81%/yr vs 0.70%/yr for FAMRX.

Performance

STSEX vs. FAMRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock Exchange Portfolio (STSEX) and Fidelity Asset Manager 85% Fund (FAMRX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, STSEX achieves a -3.48% return, which is significantly lower than FAMRX's 14.24% return. Over the past 10 years, STSEX has outperformed FAMRX with an annualized return of 13.28%, while FAMRX has yielded a comparatively lower 11.84% annualized return.

STSEX

• 1D: -1.18%
• 1M: -2.31%
• YTD: -3.48%
• 6M: -3.34%
• 1Y: 5.97%
• 3Y*: 12.59%
• 5Y*: 11.74%
• 10Y*: 13.28%

FAMRX

• 1D: 1.41%
• 1M: 3.13%
• YTD: 14.24%
• 6M: 15.08%
• 1Y: 30.43%
• 3Y*: 18.17%
• 5Y*: 10.08%
• 10Y*: 11.84%

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

STSEX vs. FAMRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
STSEX BlackRock Exchange Portfolio	-3.48%	19.42%	16.06%	20.71%	-5.51%	31.09%	9.30%	28.62%	-2.95%	15.24%
FAMRX Fidelity Asset Manager 85% Fund	14.24%	20.87%	12.60%	18.98%	-18.55%	17.10%	19.37%	26.26%	-9.21%	21.08%

Correlation

The correlation between STSEX and FAMRX is 0.54, 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	0.54
Correlation (3Y) Calculated over the trailing 3-year period	0.65
Correlation (5Y) Calculated over the trailing 5-year period	0.76
Correlation (10Y) Calculated over the trailing 10-year period	0.81
Correlation (All Time) Calculated using the full available price history since Sep 24, 1999	0.85

Over the past year, the correlation between STSEX and FAMRX has dropped to 0.54 - well below their long-term average of 0.85, suggesting their price drivers have been diverging.

Return for Risk

STSEX vs. FAMRX — Risk / Return Rank

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

STSEX

STSEX Risk / Return Rank: 8
STSEX Sharpe Ratio Rank: 8
STSEX Sortino Ratio Rank: 7
STSEX Omega Ratio Rank: 7
STSEX Calmar Ratio Rank: 8
STSEX Martin Ratio Rank: 8

FAMRX

FAMRX Risk / Return Rank: 78
FAMRX Sharpe Ratio Rank: 78
FAMRX Sortino Ratio Rank: 73
FAMRX Omega Ratio Rank: 75
FAMRX Calmar Ratio Rank: 79
FAMRX Martin Ratio Rank: 84

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.

STSEX vs. FAMRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock Exchange Portfolio (STSEX) and Fidelity Asset Manager 85% Fund (FAMRX). 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.

	STSEX	FAMRX	Difference
Sharpe ratio: Return per unit of total volatility	0.59	2.33	-1.75
Sortino ratio: Return per unit of downside risk	0.87	3.17	-2.30
Omega ratio: Gain probability vs. loss probability	1.10	1.43	-0.33
Calmar ratio: Return relative to maximum drawdown	0.70	3.27	-2.58
Martin ratio: Return relative to average drawdown	2.12	14.19	-12.07

STSEX vs. FAMRX - Sharpe Ratio Comparison

The current STSEX Sharpe Ratio is 0.59, which is lower than the FAMRX Sharpe Ratio of 2.33. The chart below compares the historical Sharpe Ratios of STSEX and FAMRX, 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

STSEX vs. FAMRX - Drawdown Comparison

The maximum STSEX drawdown since its inception was -49.89%, smaller than the maximum FAMRX drawdown of -58.65%. Use the drawdown chart below to compare losses from any high point for STSEX and FAMRX.

Drawdown Indicators

	STSEX	FAMRX	Difference
Max Drawdown Largest peak-to-trough decline	-49.89%	-58.65%	+8.76%
Max Drawdown (1Y) Largest decline over 1 year	-8.61%	-9.33%	+0.72%
Max Drawdown (3Y) Largest decline over 3 years	-11.40%	-15.35%	+3.95%
Max Drawdown (5Y) Largest decline over 5 years	-19.57%	-26.00%	+6.43%
Max Drawdown (10Y) Largest decline over 10 years	-31.28%	-30.96%	-0.32%
Current Drawdown Current decline from peak	-4.99%	0.00%	-4.99%
Average Drawdown Average peak-to-trough decline	-7.27%	-12.30%	+5.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.82%	2.15%	+0.67%

Volatility

STSEX vs. FAMRX - Volatility Comparison

The current volatility for BlackRock Exchange Portfolio (STSEX) is 3.54%, while Fidelity Asset Manager 85% Fund (FAMRX) has a volatility of 5.49%. This indicates that STSEX experiences smaller price fluctuations and is considered to be less risky than FAMRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	STSEX	FAMRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.54%	5.49%	-1.95%
Volatility (6M) Calculated over the trailing 6-month period	8.02%	11.02%	-3.00%
Volatility (1Y) Calculated over the trailing 1-year period	10.25%	13.11%	-2.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.37%	14.79%	-0.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.72%	15.33%	+1.39%

STSEX vs. FAMRX - Expense Ratio Comparison

STSEX has a 0.81% expense ratio, which is higher than FAMRX's 0.70% expense ratio.

Dividends

STSEX vs. FAMRX - Dividend Comparison

STSEX's dividend yield for the trailing twelve months is around 0.94%, less than FAMRX's 4.87% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FAMRX Fidelity Asset Manager 85% Fund	4.87%	5.56%	3.44%	1.33%	5.07%	3.15%	1.99%	5.52%	5.62%	2.31%	0.28%	4.83%
STSEX BlackRock Exchange Portfolio	0.94%	0.90%	0.93%	1.07%	1.22%	1.01%	1.33%	1.40%	1.73%	1.67%	1.95%	1.94%

Frequently Asked Questions

Can I hold both STSEX and FAMRX in my portfolio?

STSEX and FAMRX have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, STSEX or FAMRX?

FAMRX has higher volatility (5.49%) compared to STSEX (3.54%). In terms of maximum drawdown, STSEX dropped -49.89% vs FAMRX's -58.65%.

Which has better risk-adjusted returns?

FAMRX currently has the higher Sharpe Ratio (2.33 vs 0.58), 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.