long-term product offerings include active and index strategies .
our active strategies seek to earn attractive returns in excess of a market benchmark or performance hurdle while maintaining an appropriate risk profile .
we offer two types of active strategies : those that rely primarily on fundamental research and those that utilize primarily quantitative models to drive portfolio construction .
in contrast , index strategies seek to closely track the returns of a corresponding index , generally by investing in substantially the same underlying securities within the index or in a subset of those securities selected to approximate a similar risk and return profile of the index .
index strategies include both our non-etf index products and ishares etfs .
althoughmany clients use both active and index strategies , the application of these strategies may differ .
for example , clients may use index products to gain exposure to a market or asset class .
in addition , institutional non-etf index assignments tend to be very large ( multi-billion dollars ) and typically reflect low fee rates .
this has the potential to exaggerate the significance of net flows in institutional index products on blackrock 2019s revenues and earnings .
equity year-end 2015 equity aum totaled $ 2.424 trillion , reflecting net inflows of $ 52.8 billion .
net inflows included $ 78.4 billion and $ 4.2 billion into ishares and active products , respectively .
ishares net inflows were driven by the core series and flows into broad developed market equity exposures , and active net inflows reflected demand for international equities .
ishares and active net inflows were partially offset by non-etf index net outflows of $ 29.8 billion .
blackrock 2019s effective fee rates fluctuate due to changes in aummix .
approximately half of blackrock 2019s equity aum is tied to international markets , including emerging markets , which tend to have higher fee rates than u.s .
equity strategies .
accordingly , fluctuations in international equity markets , which do not consistently move in tandemwith u.s .
markets , may have a greater impact on blackrock 2019s effective equity fee rates and revenues .
fixed income fixed income aum ended 2015 at $ 1.422 trillion , increasing $ 28.7 billion , or 2% ( 2 % ) , from december 31 , 2014 .
the increase in aum reflected $ 76.9 billion in net inflows , partially offset by $ 48.2 billion in net market depreciation and foreign exchange movements .
in 2015 , active net inflows of $ 35.9 billion were diversified across fixed income offerings , with strong flows into our unconstrained , total return and high yield strategies .
flagship funds in these product areas include our unconstrained strategic income opportunities and fixed income strategies funds , with net inflows of $ 7.0 billion and $ 3.7 billion , respectively ; our total return fund with net inflows of $ 2.7 billion ; and our high yield bond fund with net inflows of $ 3.5 billion .
fixed income ishares net inflows of $ 50.3 billion were led by flows into core , corporate and high yield bond funds .
active and ishares net inflows were partially offset by non-etf index net outflows of $ 9.3 billion .
multi-asset class blackrock 2019s multi-asset class teammanages a variety of balanced funds and bespoke mandates for a diversified client base that leverages our broad investment expertise in global equities , bonds , currencies and commodities , and our extensive risk management capabilities .
investment solutions might include a combination of long-only portfolios and alternative investments as well as tactical asset allocation overlays .
component changes in multi-asset class aum for 2015 are presented below .
( in millions ) december 31 , 2014 net inflows ( outflows ) acquisition ( 1 ) market change fx impact december 31 , 2015 asset allocation and balanced $ 183032 $ 12926 $ 2014 $ ( 6731 ) $ ( 3391 ) $ 185836 .

( in millions )
december 312014
net inflows ( outflows )
acquisition ( 1 )
market change
fx impact
december 312015
asset allocation and balanced
$ 183032
$ 12926
$ 2014
$ -6731 ( 6731 )
$ -3391 ( 3391 )
$ 185836
target date/risk
128611
218
2014
-1308 ( 1308 )
-1857 ( 1857 )
125664
fiduciary
66194
3985
2014
627
-6373 ( 6373 )
64433
futureadvisor
2014
38
366
-1 ( 1 )
2014
403
multi-asset
$ 377837
$ 17167
$ 366
$ -7413 ( 7413 )
$ -11621 ( 11621 )
$ 376336

( 1 ) amounts represent $ 366 million of aum acquired in the futureadvisor acquisition in october 2015 .
the futureadvisor acquisition amount does not include aum that was held in ishares holdings .
multi-asset class net inflows reflected ongoing institutional demand for our solutions-based advice with $ 17.4 billion of net inflows coming from institutional clients .
defined contribution plans of institutional clients remained a significant driver of flows , and contributed $ 7.3 billion to institutional multi-asset class net new business in 2015 , primarily into target date and target risk product offerings .
retail net outflows of $ 1.3 billion were primarily due to a large single-client transition out of mutual funds into a series of ishares across asset classes .
notwithstanding this transition , retail flows reflected demand for our multi-asset income fund family , which raised $ 4.6 billion in 2015 .
the company 2019s multi-asset class strategies include the following : 2022 asset allocation and balanced products represented 49% ( 49 % ) of multi-asset class aum at year-end , with growth in aum driven by net new business of $ 12.9 billion .
these strategies combine equity , fixed income and alternative components for investors seeking a tailored solution relative to a specific benchmark and within a risk budget .
in certain cases , these strategies seek to minimize downside risk through diversification , derivatives strategies and tactical asset allocation decisions .
flagship products in this category include our global allocation andmulti-asset income suites. .

Question: what is the growth rate in the balance of asset allocation from 2014 to 2015?
Answer: 1.5%

Question: what is the growth rate in the balance of total multi assets from 2014 to 2015?
Answer: -0.4%