- ISIN
- US31617K1887
- Issuer
- Fidelity
- Inception Date
- Aug 29, 2007
- Category
- Target Retirement Date
- Min. Investment
- $0
- Distribution Policy
- Distributing
- Asset Class
- Multi-Asset
- Asset Class Size
- Large-Cap
- Asset Class Style
- Blend
Share Price Chart
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Performance
FRASX Performance Chart
Fidelity Advisor Managed Retirement 2015 Fund (FRASX) is up 4.3% since the beginning of the year. FRASX is currently trading at $58 per share. Investors who bought $1,000 worth of FRASX shares 5 years ago would now be looking at an investment worth $1,179.
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Returns By Period
Fidelity Advisor Managed Retirement 2015 Fund (FRASX) has returned 4.26% so far this year and 10.96% over the past 12 months. Over the last ten years, FRASX has returned 5.73% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
Fidelity Advisor Managed Retirement 2015 Fund
- 1D
- 0.00%
- 1M
- 0.72%
- YTD
- 4.26%
- 6M
- 4.38%
- 1Y
- 10.96%
- 3Y*
- 8.18%
- 5Y*
- 3.35%
- 10Y*
- 5.73%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
FRASX Monthly Returns History
Based on dividend-adjusted daily data since Aug 30, 2007, FRASX's average daily return is +0.02%, while the average monthly return is +0.46%. At this rate, an investment would double in approximately 12.6 years.
Historically, 64% of months were positive and 36% 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% | -2.82% | 2.96% | 1.30% | -0.20% | 4.26% | ||||||
| 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 0.76%, beta of 0.45, and R2 of 0.83 versus S&P 500 Index. Calculated based on daily prices since August 30, 2007.
- This fund participated in 57.74% of S&P 500 Index downside but only 49.06% 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
- 0.76%
- Beta
- 0.45
- R²
- 0.83
- Upside Capture
- 49.06%
- Downside Capture
- 57.74%
Expense Ratio
FRASX has an expense ratio of 0.46%, placing it in the medium range.
Return for Risk
Risk / Return Rank
FRASX ranks 66 for risk / return — better than 66% 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 S&P 500 Index.
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.
| FRASX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.14 | ||
| Sortino ratioReturn per unit of downside risk | +0.37 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.37 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.79 | 2.78 | +0.01 |
| Martin ratioReturn relative to average drawdown | 11.74 | 12.44 | -0.70 |
Dividends
Dividend History
Fidelity Advisor Managed Retirement 2015 Fund provided a 3.04% dividend yield over the last twelve months, with an annual payout of $1.77 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $1.77 | $1.42 | $1.50 | $1.37 | $2.36 | $3.03 | $1.96 | $1.75 | $3.09 | $13.08 | $1.30 | $2.56 |
Dividend yield | 3.04% | 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 | $0.07 | $0.10 | $0.18 | $0.48 | ||||||
| 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 0.49%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -40.08%Mar 2009 | 1y 4mo | 1y 9mo | 3y 1moNov 2007 - Dec 2010 |
Bear market2022 | -18.55%Oct 2022 | 11mo 14d | 1y 10mo | 2y 10moNov 2021 - Sep 2024 |
2011 correction2011 | -13.91%Oct 2011 | 5mo 4d | 5mo 14d | 10mo 18dMay 2011 - Mar 2012 |
COVID crash2020 | -13.86%Mar 2020 | 28d | 3mo 23d | 4mo 21dFeb 2020 - Jul 2020 |
2016 correction2016 | -11.01%Feb 2016 | 8mo 25d | 5mo 4d | 1y 1moMay 2015 - Jul 2016 |
Drawdown Indicators
| FRASX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.08% | -56.78% | +16.70% |
Max Drawdown (1Y)Largest decline over 1 year | -3.92% | -9.10% | +5.18% |
Max Drawdown (3Y)Largest decline over 3 years | -5.86% | -18.90% | +13.04% |
Max Drawdown (5Y)Largest decline over 5 years | -18.55% | -25.43% | +6.88% |
Max Drawdown (10Y)Largest decline over 10 years | -18.55% | -33.92% | +15.37% |
Current DrawdownCurrent decline from peak | -0.49% | -1.80% | +1.31% |
Average DrawdownAverage peak-to-trough decline | -4.87% | -10.71% | +5.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.93% | 2.03% | -1.10% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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