DRILX vs. FIRVX

Last updated Jul 15, 2026

DRILX (Dimensional 2060 Target Date Retirement Income Fund) and FIRVX (Fidelity Managed Retirement 2020 Fund) are both Target Retirement Date funds. Their correlation of 0.88 suggests significant overlap in exposure. DRILX charges 0.22%/yr vs 0.47%/yr for FIRVX.

Performance

DRILX vs. FIRVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional 2060 Target Date Retirement Income Fund (DRILX) and Fidelity Managed Retirement 2020 Fund (FIRVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

DRILX

• 1D: -0.90%
• 1M: 0.23%
• 6M: 8.46%
• YTD: 10.95%
• 1Y: 21.58%
• 3Y*: 18.05%
• 5Y*: 11.08%
• 10Y*: 12.31%

FIRVX

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DRILX vs. FIRVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DRILX Dimensional 2060 Target Date Retirement Income Fund	10.95%	19.66%	17.10%	21.37%	-15.28%	21.08%	14.10%	25.61%	-9.07%	21.51%
FIRVX Fidelity Managed Retirement 2020 Fund	1,440,933.92%	12.25%	5.86%	10.72%	-14.63%	6.77%	12.06%	16.19%	-4.45%	13.32%

Correlation

The correlation between DRILX and FIRVX is 0.80, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (5Y) Calculated over the trailing 5-year period	0.83
Correlation (10Y) Calculated over the trailing 10-year period	0.87
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016	0.88

The correlation between DRILX and FIRVX has been stable across timeframes, ranging from 0.80 to 0.88 - a consistent structural relationship.

Return for Risk

DRILX vs. FIRVX — Risk / Return Rank

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

DRILX

DRILX Risk / Return Rank: 75
DRILX Sharpe Ratio Rank: 75
DRILX Sortino Ratio Rank: 73
DRILX Omega Ratio Rank: 70
DRILX Calmar Ratio Rank: 74
DRILX Martin Ratio Rank: 81

FIRVX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

DRILX vs. FIRVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional 2060 Target Date Retirement Income Fund (DRILX) and Fidelity Managed Retirement 2020 Fund (FIRVX). 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.

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.

	DRILX	FIRVX	Difference
Sharpe ratio: Return per unit of total volatility	1.93	—	—
Sortino ratio: Return per unit of downside risk	2.70	—	—
Omega ratio: Gain probability vs. loss probability	1.35	—	—
Calmar ratio: Return relative to maximum drawdown	2.67	—	—
Martin ratio: Return relative to average drawdown	11.31	—	—

Drawdowns

Drawdown Indicators

	DRILX	FIRVX	Difference
Max Drawdown Largest peak-to-trough decline	-33.48%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-8.58%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-15.76%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-23.50%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-33.48%	—	—
Current Drawdown Current decline from peak	-1.28%	—	—
Average Drawdown Average peak-to-trough decline	-4.21%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	1.96%	—	—

Volatility

Volatility by Period

	DRILX	FIRVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.99%	—	—
Volatility (6M) Calculated over the trailing 6-month period	9.77%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	11.90%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.95%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.68%	—	—

DRILX vs. FIRVX - Expense Ratio Comparison

DRILX has a 0.22% expense ratio, which is lower than FIRVX's 0.47% expense ratio.

Dividends

DRILX vs. FIRVX - Dividend Comparison

DRILX's dividend yield for the trailing twelve months is around 1.82%, less than FIRVX's 102.77% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DRILX Dimensional 2060 Target Date Retirement Income Fund	1.82%	1.47%	2.40%	3.26%	3.97%	2.25%	2.11%	2.12%	2.25%	0.91%	1.96%	0.00%
FIRVX Fidelity Managed Retirement 2020 Fund	102.77%	2.83%	2.74%	2.57%	3.52%	4.61%	3.74%	3.18%	6.90%	25.16%	2.28%	4.45%

Frequently Asked Questions

Can I hold both DRILX and FIRVX in my portfolio?

DRILX and FIRVX have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.