WHGIX vs. FRGAX

Last updated Jun 4, 2026

WHGIX (Westwood Income Opportunity Fund) and FRGAX (Fidelity 70% Allocation Fund) are both Diversified Portfolio funds. Over the past 3 years, WHGIX returned 11.92%/yr vs 16.33%/yr for FRGAX. Their correlation of 0.88 suggests significant overlap in exposure. WHGIX charges 0.81%/yr vs 0.02%/yr for FRGAX.

Performance

WHGIX vs. FRGAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Westwood Income Opportunity Fund (WHGIX) and Fidelity 70% Allocation Fund (FRGAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WHGIX achieves a 7.25% return, which is significantly lower than FRGAX's 9.37% return.

WHGIX

• 1D: 0.29%
• 1M: 4.08%
• YTD: 7.25%
• 6M: 7.73%
• 1Y: 19.12%
• 3Y*: 11.92%
• 5Y*: 4.82%
• 10Y*: 6.65%

FRGAX

• 1D: 0.22%
• 1M: 4.20%
• YTD: 9.37%
• 6M: 9.79%
• 1Y: 22.55%
• 3Y*: 16.33%
• 5Y*: —
• 10Y*: —

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

WHGIX vs. FRGAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
WHGIX Westwood Income Opportunity Fund	7.25%	11.90%	9.10%	9.91%	-0.85%
FRGAX Fidelity 70% Allocation Fund	9.37%	17.10%	12.91%	17.57%	-1.63%

Correlation

The correlation between WHGIX and FRGAX is 0.88, 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	0.88
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (All Time) Calculated using the full available price history since Nov 23, 2022	0.88

The correlation between WHGIX and FRGAX has been stable across timeframes, ranging from 0.88 to 0.88 - a consistent structural relationship.

Return for Risk

WHGIX vs. FRGAX — Risk / Return Rank

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

WHGIX

WHGIX Risk / Return Rank: 86
WHGIX Sharpe Ratio Rank: 88
WHGIX Sortino Ratio Rank: 87
WHGIX Omega Ratio Rank: 82
WHGIX Calmar Ratio Rank: 84
WHGIX Martin Ratio Rank: 89

FRGAX

FRGAX Risk / Return Rank: 74
FRGAX Sharpe Ratio Rank: 77
FRGAX Sortino Ratio Rank: 75
FRGAX Omega Ratio Rank: 72
FRGAX Calmar Ratio Rank: 71
FRGAX Martin Ratio Rank: 78

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.

WHGIX vs. FRGAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Westwood Income Opportunity Fund (WHGIX) and Fidelity 70% Allocation Fund (FRGAX). 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.

	WHGIX	FRGAX	Difference
Sharpe ratio: Return per unit of total volatility	2.90	2.55	+0.35
Sortino ratio: Return per unit of downside risk	4.16	3.61	+0.56
Omega ratio: Gain probability vs. loss probability	1.55	1.48	+0.07
Calmar ratio: Return relative to maximum drawdown	4.00	3.27	+0.73
Martin ratio: Return relative to average drawdown	17.77	14.61	+3.16
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WHGIX vs. FRGAX - Sharpe Ratio Comparison

The current WHGIX Sharpe Ratio is 2.90, which is comparable to the FRGAX Sharpe Ratio of 2.55. The chart below compares the historical Sharpe Ratios of WHGIX and FRGAX, 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

	WHGIX	FRGAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.90	2.55	+0.35
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.58	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.74	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.81	1.54	-0.73

Drawdowns

WHGIX vs. FRGAX - Drawdown Comparison

The maximum WHGIX drawdown since its inception was -24.14%, which is greater than FRGAX's maximum drawdown of -11.77%. Use the drawdown chart below to compare losses from any high point for WHGIX and FRGAX.

Drawdown Indicators

	WHGIX	FRGAX	Difference
Max Drawdown Largest peak-to-trough decline	-24.14%	-11.77%	-12.37%
Max Drawdown (1Y) Largest decline over 1 year	-4.90%	-7.03%	+2.13%
Max Drawdown (3Y) Largest decline over 3 years	-9.81%	-11.77%	+1.96%
Max Drawdown (5Y) Largest decline over 5 years	-19.20%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-24.14%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-3.11%	-1.58%	-1.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.10%	1.57%	-0.47%

Volatility

WHGIX vs. FRGAX - Volatility Comparison

The current volatility for Westwood Income Opportunity Fund (WHGIX) is 2.42%, while Fidelity 70% Allocation Fund (FRGAX) has a volatility of 2.75%. This indicates that WHGIX experiences smaller price fluctuations and is considered to be less risky than FRGAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WHGIX	FRGAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.42%	2.75%	-0.33%
Volatility (6M) Calculated over the trailing 6-month period	5.42%	7.19%	-1.77%
Volatility (1Y) Calculated over the trailing 1-year period	6.77%	9.03%	-2.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.33%	10.31%	-1.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.95%	10.31%	-1.36%

WHGIX vs. FRGAX - Expense Ratio Comparison

WHGIX has a 0.81% expense ratio, which is higher than FRGAX's 0.02% expense ratio.

Dividends

WHGIX vs. FRGAX - Dividend Comparison

WHGIX's dividend yield for the trailing twelve months is around 3.33%, more than FRGAX's 1.83% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FRGAX Fidelity 70% Allocation Fund	1.83%	2.00%	2.01%	1.77%	1.71%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
WHGIX Westwood Income Opportunity Fund	3.33%	3.28%	4.33%	3.49%	3.03%	10.97%	7.83%	29.20%	6.78%	3.45%	1.04%	1.58%

Frequently Asked Questions

Can I hold both WHGIX and FRGAX in my portfolio?

WHGIX and FRGAX have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WHGIX or FRGAX?

FRGAX has higher volatility (2.75%) compared to WHGIX (2.42%). In terms of maximum drawdown, WHGIX dropped -24.14% vs FRGAX's -11.77%.

Which has better risk-adjusted returns?

WHGIX currently has the higher Sharpe Ratio (2.90 vs 2.55), 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.