DRIUX vs. FRHMX

Last updated Jun 23, 2026

DRIUX (Dimensional 2025 Target Date Retirement Income Fund) and FRHMX (Fidelity Managed Retirement Income Fund Class K6) are both Target Retirement Date funds. Over the past 5 years, DRIUX returned 1.12%/yr vs 596.10%/yr for FRHMX. Their correlation of 0.85 suggests significant overlap in exposure. DRIUX charges 0.18%/yr vs 0.25%/yr for FRHMX.

Performance

DRIUX vs. FRHMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional 2025 Target Date Retirement Income Fund (DRIUX) and Fidelity Managed Retirement Income Fund Class K6 (FRHMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DRIUX achieves a 3.93% return, which is significantly lower than FRHMX's 1,464,383.96% return.

DRIUX

• 1D: 0.52%
• 1M: 1.04%
• YTD: 3.93%
• 6M: 4.02%
• 1Y: 9.95%
• 3Y*: 6.22%
• 5Y*: 1.12%
• 10Y*: 5.23%

FRHMX

• 1D: 1,410,365.12%
• 1M: 1,421,616.96%
• YTD: 1,464,383.96%
• 6M: 1,466,402.39%
• 1Y: 1,547,810.54%
• 3Y*: 2,494.75%
• 5Y*: 596.10%
• 10Y*: —

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

DRIUX vs. FRHMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
DRIUX Dimensional 2025 Target Date Retirement Income Fund	3.93%	9.01%	3.86%	8.09%	-20.98%	9.26%	17.45%	5.46%
FRHMX Fidelity Managed Retirement Income Fund Class K6	1,464,383.96%	10.02%	4.50%	8.28%	-11.48%	2.98%	8.79%	3.17%

Correlation

The correlation between DRIUX and FRHMX is 0.91, 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	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (All Time) Calculated using the full available price history since Aug 1, 2019	0.86

The correlation between DRIUX and FRHMX has been stable across timeframes, ranging from 0.85 to 0.91 - a consistent structural relationship.

Return for Risk

DRIUX vs. FRHMX — Risk / Return Rank

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

DRIUX

DRIUX Risk / Return Rank: 42
DRIUX Sharpe Ratio Rank: 43
DRIUX Sortino Ratio Rank: 44
DRIUX Omega Ratio Rank: 43
DRIUX Calmar Ratio Rank: 38
DRIUX Martin Ratio Rank: 42

FRHMX

FRHMX Risk / Return Rank: 84
FRHMX Sharpe Ratio Rank: 19
FRHMX Sortino Ratio Rank: 100
FRHMX Omega Ratio Rank: 100
FRHMX Calmar Ratio Rank: 100
FRHMX Martin Ratio Rank: 100

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.

DRIUX vs. FRHMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional 2025 Target Date Retirement Income Fund (DRIUX) and Fidelity Managed Retirement Income Fund Class K6 (FRHMX). 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.

	DRIUX	FRHMX	Difference
Sharpe ratio: Return per unit of total volatility	1.78	1.14	+0.64
Sortino ratio: Return per unit of downside risk	2.58	488,367.03	-488,364.45
Omega ratio: Gain probability vs. loss probability	1.33	68,097.73	-68,096.41
Calmar ratio: Return relative to maximum drawdown	2.23	470,348.34	-470,346.10
Martin ratio: Return relative to average drawdown	8.46	1,985,653.35	-1,985,644.89

DRIUX vs. FRHMX - Sharpe Ratio Comparison

The current DRIUX Sharpe Ratio is 1.78, which is higher than the FRHMX Sharpe Ratio of 1.14. The chart below compares the historical Sharpe Ratios of DRIUX and FRHMX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

DRIUX vs. FRHMX - Drawdown Comparison

The maximum DRIUX drawdown since its inception was -26.95%, which is greater than FRHMX's maximum drawdown of -15.96%. Use the drawdown chart below to compare losses from any high point for DRIUX and FRHMX.

Drawdown Indicators

	DRIUX	FRHMX	Difference
Max Drawdown Largest peak-to-trough decline	-26.95%	-15.96%	-10.99%
Max Drawdown (1Y) Largest decline over 1 year	-4.49%	-3.42%	-1.07%
Max Drawdown (3Y) Largest decline over 3 years	-9.28%	-4.90%	-4.38%
Max Drawdown (5Y) Largest decline over 5 years	-26.95%	-15.96%	-10.99%
Max Drawdown (10Y) Largest decline over 10 years	-26.95%	—	—
Current Drawdown Current decline from peak	-2.61%	0.00%	-2.61%
Average Drawdown Average peak-to-trough decline	-7.05%	-3.49%	-3.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.18%	0.81%	+0.37%

Volatility

DRIUX vs. FRHMX - Volatility Comparison

The current volatility for Dimensional 2025 Target Date Retirement Income Fund (DRIUX) is 2.12%, while Fidelity Managed Retirement Income Fund Class K6 (FRHMX) has a volatility of 955.41%. This indicates that DRIUX experiences smaller price fluctuations and is considered to be less risky than FRHMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DRIUX	FRHMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.12%	955.41%	-953.29%
Volatility (6M) Calculated over the trailing 6-month period	4.39%	955.40%	-951.01%
Volatility (1Y) Calculated over the trailing 1-year period	5.65%	1,413,171.78%	-1,413,166.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.41%	631,989.64%	-631,980.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.90%	538,904.02%	-538,895.12%

DRIUX vs. FRHMX - Expense Ratio Comparison

DRIUX has a 0.18% expense ratio, which is lower than FRHMX's 0.25% 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

DRIUX vs. FRHMX - Dividend Comparison

DRIUX's dividend yield for the trailing twelve months is around 5.08%, less than FRHMX's 103.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
DRIUX Dimensional 2025 Target Date Retirement Income Fund	5.08%	5.26%	4.40%	4.53%	7.77%	5.60%	3.72%	2.25%	2.44%	1.39%	1.41%
FRHMX Fidelity Managed Retirement Income Fund Class K6	103.07%	3.22%	3.24%	3.02%	4.77%	3.78%	2.61%	1.95%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DRIUX and FRHMX in my portfolio?

With a correlation of 0.91, DRIUX and FRHMX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, DRIUX or FRHMX?

FRHMX has higher volatility (955.41%) compared to DRIUX (2.12%). In terms of maximum drawdown, DRIUX dropped -26.95% vs FRHMX's -15.96%.

Which has better risk-adjusted returns?

DRIUX currently has the higher Sharpe Ratio (1.78 vs 1.14), 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.