DRIJX vs. FRQHX

Last updated Jun 5, 2026

DRIJX (Dimensional 2050 Target Date Retirement Income Fund) and FRQHX (Fidelity Managed Retirement 2010 Fund Class K6) are both Target Retirement Date funds. Over the past 5 years, DRIJX returned 11.37%/yr vs 2.95%/yr for FRQHX. A 0.74 correlation means they provide meaningful diversification when combined. DRIJX charges 0.22%/yr vs 0.26%/yr for FRQHX.

Performance

DRIJX vs. FRQHX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional 2050 Target Date Retirement Income Fund (DRIJX) and Fidelity Managed Retirement 2010 Fund Class K6 (FRQHX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DRIJX achieves a 10.97% return, which is significantly higher than FRQHX's 3.89% return.

DRIJX

• 1D: -0.65%
• 1M: 3.15%
• YTD: 10.97%
• 6M: 11.55%
• 1Y: 26.45%
• 3Y*: 19.92%
• 5Y*: 11.37%
• 10Y*: 12.53%

FRQHX

• 1D: -0.24%
• 1M: 1.03%
• YTD: 3.89%
• 6M: 4.19%
• 1Y: 9.89%
• 3Y*: 7.78%
• 5Y*: 2.95%
• 10Y*: —

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

DRIJX vs. FRQHX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
DRIJX Dimensional 2050 Target Date Retirement Income Fund	10.97%	19.64%	17.05%	21.37%	-15.25%	21.63%	14.09%	9.48%
FRQHX Fidelity Managed Retirement 2010 Fund Class K6	3.89%	10.01%	4.68%	8.75%	-12.22%	4.04%	9.80%	3.95%

Correlation

The correlation between DRIJX and FRQHX is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.77
Correlation (3Y) Calculated over the trailing 3-year period	0.71
Correlation (5Y) Calculated over the trailing 5-year period	0.72
Correlation (All Time) Calculated using the full available price history since Aug 2, 2019	0.74

The correlation between DRIJX and FRQHX has been stable across timeframes, ranging from 0.71 to 0.77 - a consistent structural relationship.

Return for Risk

DRIJX vs. FRQHX — Risk / Return Rank

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

DRIJX

DRIJX Risk / Return Rank: 77
DRIJX Sharpe Ratio Rank: 80
DRIJX Sortino Ratio Rank: 77
DRIJX Omega Ratio Rank: 73
DRIJX Calmar Ratio Rank: 74
DRIJX Martin Ratio Rank: 82

FRQHX

FRQHX Risk / Return Rank: 73
FRQHX Sharpe Ratio Rank: 76
FRQHX Sortino Ratio Rank: 78
FRQHX Omega Ratio Rank: 76
FRQHX Calmar Ratio Rank: 65
FRQHX Martin Ratio Rank: 68

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.

DRIJX vs. FRQHX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional 2050 Target Date Retirement Income Fund (DRIJX) and Fidelity Managed Retirement 2010 Fund Class K6 (FRQHX). 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.

	DRIJX	FRQHX	Difference
Sharpe ratio: Return per unit of total volatility	2.61	2.52	+0.09
Sortino ratio: Return per unit of downside risk	3.70	3.72	-0.01
Omega ratio: Gain probability vs. loss probability	1.48	1.50	-0.02
Calmar ratio: Return relative to maximum drawdown	3.32	3.07	+0.25
Martin ratio: Return relative to average drawdown	15.00	13.04	+1.96
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DRIJX vs. FRQHX - Sharpe Ratio Comparison

The current DRIJX Sharpe Ratio is 2.61, which is comparable to the FRQHX Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of DRIJX and FRQHX, 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

	DRIJX	FRQHX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.61	2.52	+0.09
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.79	0.53	+0.25
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.80	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.80	0.80	+0.01

Drawdowns

DRIJX vs. FRQHX - Drawdown Comparison

The maximum DRIJX drawdown since its inception was -33.55%, which is greater than FRQHX's maximum drawdown of -16.90%. Use the drawdown chart below to compare losses from any high point for DRIJX and FRQHX.

Drawdown Indicators

	DRIJX	FRQHX	Difference
Max Drawdown Largest peak-to-trough decline	-33.55%	-16.90%	-16.65%
Max Drawdown (1Y) Largest decline over 1 year	-8.12%	-3.41%	-4.71%
Max Drawdown (3Y) Largest decline over 3 years	-15.25%	-5.15%	-10.10%
Max Drawdown (5Y) Largest decline over 5 years	-23.49%	-16.90%	-6.59%
Max Drawdown (10Y) Largest decline over 10 years	-33.55%	—	—
Current Drawdown Current decline from peak	-0.65%	-0.24%	-0.41%
Average Drawdown Average peak-to-trough decline	-4.19%	-3.79%	-0.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.79%	0.80%	+0.99%

Volatility

DRIJX vs. FRQHX - Volatility Comparison

Dimensional 2050 Target Date Retirement Income Fund (DRIJX) has a higher volatility of 2.99% compared to Fidelity Managed Retirement 2010 Fund Class K6 (FRQHX) at 1.66%. This indicates that DRIJX's price experiences larger fluctuations and is considered to be riskier than FRQHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DRIJX	FRQHX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.99%	1.66%	+1.33%
Volatility (6M) Calculated over the trailing 6-month period	8.25%	3.42%	+4.83%
Volatility (1Y) Calculated over the trailing 1-year period	10.32%	4.15%	+6.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.56%	5.56%	+9.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.63%	5.76%	+9.87%

DRIJX vs. FRQHX - Expense Ratio Comparison

DRIJX has a 0.22% expense ratio, which is lower than FRQHX's 0.26% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

DRIJX vs. FRQHX - Dividend Comparison

DRIJX's dividend yield for the trailing twelve months is around 2.28%, less than FRQHX's 3.30% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
DRIJX Dimensional 2050 Target Date Retirement Income Fund	2.28%	2.49%	2.53%	3.40%	3.98%	2.87%	4.15%	2.18%	2.29%	1.25%	1.40%
FRQHX Fidelity Managed Retirement 2010 Fund Class K6	3.30%	3.20%	3.20%	2.95%	5.25%	6.22%	3.70%	2.57%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DRIJX and FRQHX in my portfolio?

DRIJX and FRQHX have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DRIJX or FRQHX?

DRIJX has higher volatility (2.99%) compared to FRQHX (1.66%). In terms of maximum drawdown, DRIJX dropped -33.55% vs FRQHX's -16.90%.

Which has better risk-adjusted returns?

DRIJX currently has the higher Sharpe Ratio (2.61 vs 2.52), 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.