DRIHX vs. FRAMX
Compare and contrast key facts about Dimensional 2040 Target Date Retirement Income Fund (DRIHX) and Fidelity Advisor Managed Retirement Income Fund Class A (FRAMX).
DRIHX is managed by Dimensional. It was launched on Nov 1, 2015. FRAMX is managed by BlackRock. It was launched on Aug 30, 2007.
Performance
DRIHX vs. FRAMX - Performance Comparison
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DRIHX vs. FRAMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
DRIHX Dimensional 2040 Target Date Retirement Income Fund | -2.79% | 14.48% | 11.11% | 16.06% | -16.20% | 16.54% | 12.73% | 22.12% | -7.66% | 19.53% |
FRAMX Fidelity Advisor Managed Retirement Income Fund Class A | -0.57% | 9.55% | 4.04% | 7.80% | -11.87% | 2.52% | 8.30% | 10.28% | -2.05% | 6.82% |
Returns By Period
In the year-to-date period, DRIHX achieves a -2.79% return, which is significantly lower than FRAMX's -0.57% return. Over the past 10 years, DRIHX has outperformed FRAMX with an annualized return of 8.63%, while FRAMX has yielded a comparatively lower 3.65% annualized return.
DRIHX
- 1D
- 0.20%
- 1M
- -6.20%
- YTD
- -2.79%
- 6M
- -1.27%
- 1Y
- 10.83%
- 3Y*
- 10.64%
- 5Y*
- 6.02%
- 10Y*
- 8.63%
FRAMX
- 1D
- 0.26%
- 1M
- -3.20%
- YTD
- -0.57%
- 6M
- 0.62%
- 1Y
- 6.78%
- 3Y*
- 5.66%
- 5Y*
- 2.13%
- 10Y*
- 3.65%
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DRIHX vs. FRAMX - Expense Ratio Comparison
DRIHX has a 0.22% expense ratio, which is lower than FRAMX's 0.70% expense ratio.
Return for Risk
DRIHX vs. FRAMX — Risk / Return Rank
DRIHX
FRAMX
DRIHX vs. FRAMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Dimensional 2040 Target Date Retirement Income Fund (DRIHX) and Fidelity Advisor Managed Retirement Income Fund Class A (FRAMX). 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.
| DRIHX | FRAMX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.00 | 1.50 | -0.50 |
Sortino ratioReturn per unit of downside risk | 1.46 | 2.09 | -0.62 |
Omega ratioGain probability vs. loss probability | 1.22 | 1.30 | -0.08 |
Calmar ratioReturn relative to maximum drawdown | 1.19 | 2.00 | -0.81 |
Martin ratioReturn relative to average drawdown | 5.33 | 8.06 | -2.73 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| DRIHX | FRAMX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.00 | 1.50 | -0.50 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.52 | 0.41 | +0.11 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.68 | 0.82 | -0.14 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.68 | 0.49 | +0.18 |
Correlation
The correlation between DRIHX and FRAMX is 0.78, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
DRIHX vs. FRAMX - Dividend Comparison
DRIHX's dividend yield for the trailing twelve months is around 5.18%, more than FRAMX's 2.91% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DRIHX Dimensional 2040 Target Date Retirement Income Fund | 5.18% | 5.15% | 3.42% | 3.71% | 4.43% | 2.58% | 3.05% | 2.24% | 2.34% | 1.22% | 1.40% | 0.00% |
FRAMX Fidelity Advisor Managed Retirement Income Fund Class A | 2.91% | 2.77% | 2.77% | 2.58% | 4.26% | 3.31% | 2.23% | 2.37% | 4.40% | 8.26% | 1.42% | 1.42% |
Drawdowns
DRIHX vs. FRAMX - Drawdown Comparison
The maximum DRIHX drawdown since its inception was -27.96%, smaller than the maximum FRAMX drawdown of -33.94%. Use the drawdown chart below to compare losses from any high point for DRIHX and FRAMX.
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Drawdown Indicators
| DRIHX | FRAMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.96% | -33.94% | +5.98% |
Max Drawdown (1Y)Largest decline over 1 year | -8.81% | -3.45% | -5.36% |
Max Drawdown (5Y)Largest decline over 5 years | -22.51% | -16.31% | -6.20% |
Max Drawdown (10Y)Largest decline over 10 years | -27.96% | -16.31% | -11.65% |
Current DrawdownCurrent decline from peak | -6.78% | -3.20% | -3.58% |
Average DrawdownAverage peak-to-trough decline | -4.13% | -3.87% | -0.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.97% | 0.86% | +1.11% |
Volatility
DRIHX vs. FRAMX - Volatility Comparison
Dimensional 2040 Target Date Retirement Income Fund (DRIHX) has a higher volatility of 3.69% compared to Fidelity Advisor Managed Retirement Income Fund Class A (FRAMX) at 1.96%. This indicates that DRIHX's price experiences larger fluctuations and is considered to be riskier than FRAMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| DRIHX | FRAMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.69% | 1.96% | +1.73% |
Volatility (6M)Calculated over the trailing 6-month period | 6.29% | 2.86% | +3.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.72% | 4.59% | +7.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.57% | 5.21% | +6.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.78% | 4.47% | +8.31% |