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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in Fidelity Advisor Managed Retirement 2015 Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
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Returns By Period
Fidelity Advisor Managed Retirement 2015 Fund (FRASX) has returned -0.75% so far this year and 8.09% over the past 12 months. Over the last ten years, FRASX has returned 5.38% per year, falling short of the S&P 500 Index benchmark, which averaged 12.16% annually.
Fidelity Advisor Managed Retirement 2015 Fund
- 1D
- 0.23%
- 1M
- -3.70%
- YTD
- -0.75%
- 6M
- 0.67%
- 1Y
- 8.09%
- 3Y*
- 6.83%
- 5Y*
- 2.88%
- 10Y*
- 5.38%
Benchmark (S&P 500 Index)
- 1D
- 2.91%
- 1M
- -5.09%
- YTD
- -4.63%
- 6M
- -2.39%
- 1Y
- 16.33%
- 3Y*
- 16.69%
- 5Y*
- 10.18%
- 10Y*
- 12.16%
Monthly Returns
Based on dividend-adjusted daily data since Aug 30, 2007, FRASX's average daily return is +0.02%, while the average monthly return is +0.44%. At this rate, your investment would double in approximately 13.2 years.
Historically, 65% of months were positive and 35% were negative. The best month was Apr 2009 with a return of +7.6%, while the worst month was Oct 2008 at -13.4%. The longest winning streak lasted 15 consecutive months, and the longest losing streak was 6 months.
On a daily basis, FRASX closed higher 55% of trading days. The best single day was Oct 13, 2008 with a return of +6.8%, while the worst single day was Oct 15, 2008 at -5.8%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 1.33% | 1.71% | -3.70% | -0.75% | |||||||||
| 2025 | 1.50% | 1.19% | -0.72% | 0.56% | 1.22% | 2.17% | 0.11% | 1.50% | 1.62% | 0.84% | 0.31% | 0.27% | 11.05% |
| 2024 | -0.18% | 0.54% | 1.57% | -2.25% | 2.25% | 0.89% | 1.93% | 1.38% | 1.55% | -2.12% | 1.50% | -1.86% | 5.18% |
| 2023 | 4.37% | -2.42% | 2.33% | 0.63% | -1.06% | 1.41% | 1.10% | -1.35% | -2.57% | -1.72% | 5.12% | 3.78% | 9.62% |
| 2022 | -2.34% | -1.52% | -1.11% | -4.30% | 0.27% | -4.00% | 3.47% | -2.71% | -5.81% | 0.99% | 4.96% | -1.76% | -13.50% |
| 2021 | -0.10% | 0.47% | 0.08% | 1.90% | 0.86% | 0.78% | 0.55% | 0.70% | -1.61% | 1.67% | -1.02% | 0.99% | 5.33% |
Benchmark Metrics
Fidelity Advisor Managed Retirement 2015 Fund has an annualized alpha of 0.90%, beta of 0.45, and R² of 0.83 versus S&P 500 Index. Calculated based on daily prices since August 31, 2007.
- This fund participated in 57.77% of S&P 500 Index downside but only 49.92% of its upside — more exposed to losses than it benefited from rallies.
- Beta of 0.45 indicates this fund moves significantly less than S&P 500 Index — a genuinely defensive profile with reduced participation in both market rallies and downturns.
- Alpha
- 0.90%
- Beta
- 0.45
- R²
- 0.83
- Upside Capture
- 49.92%
- Downside Capture
- 57.77%
Expense Ratio
FRASX has an expense ratio of 0.46%, placing it in the medium range.
Return for Risk
Risk / Return Rank
FRASX ranks 80 for risk / return — better than 80% of mutual funds on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Fidelity Advisor Managed Retirement 2015 Fund (FRASX) and compare them to a chosen benchmark (S&P 500 Index).
| FRASX | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.49 | 0.90 | +0.59 |
Sortino ratioReturn per unit of downside risk | 2.08 | 1.39 | +0.69 |
Omega ratioGain probability vs. loss probability | 1.30 | 1.21 | +0.09 |
Calmar ratioReturn relative to maximum drawdown | 2.01 | 1.40 | +0.61 |
Martin ratioReturn relative to average drawdown | 8.09 | 6.61 | +1.49 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Explore FRASX risk-adjusted metrics in detail
Dive deeper into individual metrics with historical trends, benchmark comparisons, and performance across different time periods.
Dividends
Dividend History
Fidelity Advisor Managed Retirement 2015 Fund provided a 2.67% dividend yield over the last twelve months, with an annual payout of $1.49 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $1.49 | $1.42 | $1.50 | $1.37 | $2.36 | $3.03 | $1.96 | $1.75 | $3.09 | $13.08 | $1.30 | $2.56 |
Dividend yield | 2.67% | 2.51% | 2.88% | 2.67% | 4.93% | 5.21% | 3.38% | 3.23% | 6.32% | 24.29% | 2.17% | 4.48% |
Monthly Dividends
The table displays the monthly dividend distributions for Fidelity Advisor Managed Retirement 2015 Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.06 | $0.07 | $0.13 | |||||||||
| 2025 | $0.00 | $0.00 | $0.06 | $0.07 | $0.00 | $0.00 | $0.04 | $0.20 | $0.05 | $0.08 | $0.19 | $0.74 | $1.42 |
| 2024 | $0.00 | $0.05 | $0.06 | $0.07 | $0.10 | $0.08 | $0.04 | $0.18 | $0.09 | $0.08 | $0.13 | $0.64 | $1.50 |
| 2023 | $0.00 | $0.03 | $0.03 | $0.07 | $0.08 | $0.05 | $0.07 | $0.08 | $0.06 | $0.10 | $0.07 | $0.73 | $1.37 |
| 2022 | $0.00 | $0.01 | $0.01 | $0.02 | $0.03 | $0.02 | $0.03 | $0.04 | $0.84 | $0.47 | $0.04 | $0.85 | $2.36 |
| 2021 | $0.00 | $0.01 | $0.01 | $0.02 | $0.02 | $0.01 | $0.01 | $0.02 | $0.90 | $0.52 | $0.01 | $1.51 | $3.03 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Fidelity Advisor Managed Retirement 2015 Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Fidelity Advisor Managed Retirement 2015 Fund was 40.08%, occurring on Mar 9, 2009. Recovery took 457 trading sessions.
The current Fidelity Advisor Managed Retirement 2015 Fund drawdown is 3.70%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -40.08% | Nov 1, 2007 | 339 | Mar 9, 2009 | 457 | Dec 29, 2010 | 796 |
| -18.55% | Nov 10, 2021 | 238 | Oct 20, 2022 | 475 | Sep 12, 2024 | 713 |
| -13.91% | May 2, 2011 | 108 | Oct 3, 2011 | 113 | Mar 15, 2012 | 221 |
| -13.86% | Feb 20, 2020 | 21 | Mar 19, 2020 | 78 | Jul 10, 2020 | 99 |
| -11.01% | May 22, 2015 | 183 | Feb 11, 2016 | 106 | Jul 14, 2016 | 289 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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