DTDRX vs. FRKMX

Last updated Apr 2, 2026

Compare and contrast key facts about Dimensional 2065 Target Date Retirement Income Fund (DTDRX) and Fidelity Managed Retirement Income Fund Class K (FRKMX).

DTDRX is managed by Dimensional. It was launched on Jan 1, 2020. FRKMX is managed by BlackRock. It was launched on Aug 1, 2019.

Performance

DTDRX vs. FRKMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional 2065 Target Date Retirement Income Fund (DTDRX) and Fidelity Managed Retirement Income Fund Class K (FRKMX). The values are adjusted to include any dividend payments, if applicable.

DTDRX vs. FRKMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
DTDRX Dimensional 2065 Target Date Retirement Income Fund	-1.26%	19.28%	17.13%	21.29%	-15.25%	20.99%	13.15%
FRKMX Fidelity Managed Retirement Income Fund Class K	0.27%	9.91%	4.40%	8.17%	-11.57%	2.88%	8.68%

Returns By Period

In the year-to-date period, DTDRX achieves a -1.26% return, which is significantly lower than FRKMX's 0.27% return.

DTDRX

• 1D: 2.63%
• 1M: -5.28%
• YTD: -1.26%
• 6M: 1.47%
• 1Y: 19.48%
• 3Y*: 16.27%
• 5Y*: 9.77%
• 10Y*: —

FRKMX

• 1D: 0.75%
• 1M: -2.05%
• YTD: 0.27%
• 6M: 1.36%
• 1Y: 7.67%
• 3Y*: 6.29%
• 5Y*: 2.54%
• 10Y*: —

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

DTDRX vs. FRKMX - Expense Ratio Comparison

DTDRX has a 0.22% expense ratio, which is lower than FRKMX's 0.35% expense ratio.

FRKMX

Fidelity Managed Retirement Income Fund Class K

DTDRX

Dimensional 2065 Target Date Retirement Income Fund

Return for Risk

DTDRX vs. FRKMX — Risk / Return Rank

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

DTDRX

DTDRX Risk / Return Rank: 58
DTDRX Sharpe Ratio Rank: 72
DTDRX Sortino Ratio Rank: 74
DTDRX Omega Ratio Rank: 74
DTDRX Calmar Ratio Rank: 31
DTDRX Martin Ratio Rank: 41

FRKMX

FRKMX Risk / Return Rank: 84
FRKMX Sharpe Ratio Rank: 84
FRKMX Sortino Ratio Rank: 85
FRKMX Omega Ratio Rank: 82
FRKMX Calmar Ratio Rank: 84
FRKMX Martin Ratio Rank: 83

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.

DTDRX vs. FRKMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional 2065 Target Date Retirement Income Fund (DTDRX) and Fidelity Managed Retirement Income Fund Class K (FRKMX). 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.

	DTDRX	FRKMX	Difference
Sharpe ratio Return per unit of total volatility	1.38	1.72	-0.35
Sortino ratio Return per unit of downside risk	2.00	2.41	-0.41
Omega ratio Gain probability vs. loss probability	1.30	1.35	-0.05
Calmar ratio Return relative to maximum drawdown	1.06	2.35	-1.29
Martin ratio Return relative to average drawdown	4.92	9.34	-4.42
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DTDRX vs. FRKMX - Sharpe Ratio Comparison

The current DTDRX Sharpe Ratio is 1.38, which is comparable to the FRKMX Sharpe Ratio of 1.72. The chart below compares the historical Sharpe Ratios of DTDRX and FRKMX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	DTDRX	FRKMX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.38	1.72	-0.35
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.67	0.49	+0.19
Sharpe Ratio (All Time) Calculated using the full available price history	0.59	0.71	-0.12

Correlation

The correlation between DTDRX and FRKMX is 0.68, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

DTDRX vs. FRKMX - Dividend Comparison

DTDRX's dividend yield for the trailing twelve months is around 1.56%, less than FRKMX's 3.25% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019
DTDRX Dimensional 2065 Target Date Retirement Income Fund	1.56%	1.31%	2.07%	1.94%	2.01%	1.53%	2.55%	0.00%
FRKMX Fidelity Managed Retirement Income Fund Class K	3.25%	3.11%	3.12%	2.92%	4.66%	3.65%	2.56%	1.85%

Drawdowns

DTDRX vs. FRKMX - Drawdown Comparison

The maximum DTDRX drawdown since its inception was -33.33%, which is greater than FRKMX's maximum drawdown of -16.04%. Use the drawdown chart below to compare losses from any high point for DTDRX and FRKMX.

Drawdown Indicators

	DTDRX	FRKMX	Difference
Max Drawdown Largest peak-to-trough decline	-33.33%	-16.04%	-17.29%
Max Drawdown (1Y) Largest decline over 1 year	-11.25%	-3.42%	-7.83%
Max Drawdown (5Y) Largest decline over 5 years	-23.47%	-16.04%	-7.43%
Current Drawdown Current decline from peak	-6.16%	-2.44%	-3.72%
Average Drawdown Average peak-to-trough decline	-5.21%	-3.64%	-1.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.00%	0.86%	+2.14%

Volatility

DTDRX vs. FRKMX - Volatility Comparison

Dimensional 2065 Target Date Retirement Income Fund (DTDRX) has a higher volatility of 5.31% compared to Fidelity Managed Retirement Income Fund Class K (FRKMX) at 2.14%. This indicates that DTDRX's price experiences larger fluctuations and is considered to be riskier than FRKMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DTDRX	FRKMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.31%	2.14%	+3.17%
Volatility (6M) Calculated over the trailing 6-month period	8.55%	2.95%	+5.60%
Volatility (1Y) Calculated over the trailing 1-year period	16.05%	4.63%	+11.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.85%	5.23%	+9.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.33%	5.14%	+14.19%