VWENX vs. FBAKX

Last updated Jun 4, 2026

VWENX (Vanguard Wellington Fund Admiral Shares) and FBAKX (Fidelity Balanced Fund Class K) are both Diversified Portfolio funds. Over the past 10 years, VWENX returned 10.28%/yr vs 11.81%/yr for FBAKX. With a 0.95 correlation, they move nearly in lockstep. VWENX charges 0.16%/yr vs 0.45%/yr for FBAKX.

Performance

VWENX vs. FBAKX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Wellington Fund Admiral Shares (VWENX) and Fidelity Balanced Fund Class K (FBAKX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VWENX achieves a 7.16% return, which is significantly lower than FBAKX's 10.34% return. Over the past 10 years, VWENX has underperformed FBAKX with an annualized return of 10.28%, while FBAKX has yielded a comparatively higher 11.81% annualized return.

VWENX

• 1D: 0.07%
• 1M: 3.88%
• YTD: 7.16%
• 6M: 7.40%
• 1Y: 21.14%
• 3Y*: 15.70%
• 5Y*: 9.06%
• 10Y*: 10.28%

FBAKX

• 1D: 0.23%
• 1M: 4.06%
• YTD: 10.34%
• 6M: 10.56%
• 1Y: 25.07%
• 3Y*: 16.87%
• 5Y*: 9.59%
• 10Y*: 11.81%

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

VWENX vs. FBAKX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VWENX Vanguard Wellington Fund Admiral Shares	7.16%	16.63%	14.82%	14.40%	-14.31%	19.09%	10.66%	22.61%	-3.35%	14.05%
FBAKX Fidelity Balanced Fund Class K	10.34%	15.19%	16.17%	20.40%	-18.22%	18.40%	22.51%	23.94%	-3.89%	16.62%

Correlation

The correlation between VWENX and FBAKX 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	0.98
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since May 16, 2008	0.95

The correlation between VWENX and FBAKX has been stable across timeframes, ranging from 0.95 to 0.98 - a consistent structural relationship.

Return for Risk

VWENX vs. FBAKX — Risk / Return Rank

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

VWENX

VWENX Risk / Return Rank: 75
VWENX Sharpe Ratio Rank: 79
VWENX Sortino Ratio Rank: 75
VWENX Omega Ratio Rank: 73
VWENX Calmar Ratio Rank: 68
VWENX Martin Ratio Rank: 79

FBAKX

FBAKX Risk / Return Rank: 88
FBAKX Sharpe Ratio Rank: 90
FBAKX Sortino Ratio Rank: 88
FBAKX Omega Ratio Rank: 85
FBAKX Calmar Ratio Rank: 84
FBAKX Martin Ratio Rank: 91

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.

VWENX vs. FBAKX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Wellington Fund Admiral Shares (VWENX) and Fidelity Balanced Fund Class K (FBAKX). 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.

	VWENX	FBAKX	Difference
Sharpe ratio: Return per unit of total volatility	2.57	2.99	-0.41
Sortino ratio: Return per unit of downside risk	3.61	4.20	-0.59
Omega ratio: Gain probability vs. loss probability	1.48	1.57	-0.09
Calmar ratio: Return relative to maximum drawdown	3.19	3.97	-0.78
Martin ratio: Return relative to average drawdown	14.78	19.03	-4.25
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VWENX vs. FBAKX - Sharpe Ratio Comparison

The current VWENX Sharpe Ratio is 2.57, which is comparable to the FBAKX Sharpe Ratio of 2.99. The chart below compares the historical Sharpe Ratios of VWENX and FBAKX, 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

	VWENX	FBAKX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.57	2.99	-0.41
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.82	0.79	+0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.90	0.93	-0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.68	0.68	0.00

Drawdowns

VWENX vs. FBAKX - Drawdown Comparison

The maximum VWENX drawdown since its inception was -36.02%, smaller than the maximum FBAKX drawdown of -41.40%. Use the drawdown chart below to compare losses from any high point for VWENX and FBAKX.

Drawdown Indicators

	VWENX	FBAKX	Difference
Max Drawdown Largest peak-to-trough decline	-36.02%	-41.40%	+5.38%
Max Drawdown (1Y) Largest decline over 1 year	-6.77%	-6.47%	-0.30%
Max Drawdown (3Y) Largest decline over 3 years	-11.98%	-12.85%	+0.87%
Max Drawdown (5Y) Largest decline over 5 years	-20.84%	-22.84%	+2.00%
Max Drawdown (10Y) Largest decline over 10 years	-25.33%	-26.68%	+1.35%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-4.36%	-5.14%	+0.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.46%	1.34%	+0.12%

Volatility

VWENX vs. FBAKX - Volatility Comparison

Vanguard Wellington Fund Admiral Shares (VWENX) and Fidelity Balanced Fund Class K (FBAKX) have volatilities of 2.53% and 2.57%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VWENX	FBAKX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.53%	2.57%	-0.04%
Volatility (6M) Calculated over the trailing 6-month period	6.67%	6.80%	-0.13%
Volatility (1Y) Calculated over the trailing 1-year period	8.38%	8.59%	-0.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.14%	12.18%	-1.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.53%	12.78%	-1.25%

VWENX vs. FBAKX - Expense Ratio Comparison

VWENX has a 0.16% expense ratio, which is lower than FBAKX's 0.45% expense ratio.

Dividends

VWENX vs. FBAKX - Dividend Comparison

VWENX's dividend yield for the trailing twelve months is around 10.83%, more than FBAKX's 5.17% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FBAKX Fidelity Balanced Fund Class K	5.17%	5.72%	5.74%	2.35%	8.15%	9.74%	5.97%	3.87%	11.09%	7.98%	3.16%	7.79%
VWENX Vanguard Wellington Fund Admiral Shares	10.83%	11.55%	10.85%	6.08%	8.28%	8.72%	7.85%	4.74%	9.58%	5.88%	4.53%	6.58%

Frequently Asked Questions

Can I hold both VWENX and FBAKX in my portfolio?

With a correlation of 0.98, VWENX and FBAKX 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, VWENX or FBAKX?

FBAKX has higher volatility (2.57%) compared to VWENX (2.53%). In terms of maximum drawdown, VWENX dropped -36.02% vs FBAKX's -41.40%.

Which has better risk-adjusted returns?

FBAKX currently has the higher Sharpe Ratio (2.99 vs 2.57), 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.