FAGIX vs. TRRIX

Last updated Jun 13, 2026

FAGIX (Fidelity Capital & Income Fund) and TRRIX (T. Rowe Price Retirement Balanced Fund) are both mutual funds - FAGIX is a High Yield Bonds fund actively managed by Fidelity, while TRRIX is a Diversified Portfolio fund managed by T. Rowe Price. Over the past 10 years, FAGIX returned 8.03%/yr vs 6.61%/yr for TRRIX. A 0.72 correlation means they provide meaningful diversification when combined. FAGIX charges 0.67%/yr vs 0.49%/yr for TRRIX.

Performance

FAGIX vs. TRRIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Capital & Income Fund (FAGIX) and T. Rowe Price Retirement Balanced Fund (TRRIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FAGIX achieves a 7.40% return, which is significantly higher than TRRIX's 4.46% return. Over the past 10 years, FAGIX has outperformed TRRIX with an annualized return of 8.03%, while TRRIX has yielded a comparatively lower 6.61% annualized return.

FAGIX

• 1D: 1.15%
• 1M: 0.25%
• YTD: 7.40%
• 6M: 7.95%
• 1Y: 16.73%
• 3Y*: 12.87%
• 5Y*: 6.75%
• 10Y*: 8.03%

TRRIX

• 1D: 1.04%
• 1M: 0.03%
• YTD: 4.46%
• 6M: 5.00%
• 1Y: 11.14%
• 3Y*: 10.52%
• 5Y*: 4.83%
• 10Y*: 6.61%

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

FAGIX vs. TRRIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FAGIX Fidelity Capital & Income Fund	7.40%	12.38%	10.69%	13.02%	-11.50%	11.13%	9.95%	18.96%	-7.17%	11.66%
TRRIX T. Rowe Price Retirement Balanced Fund	4.46%	11.02%	9.96%	11.57%	-13.16%	8.63%	11.48%	15.32%	-3.29%	10.38%

Correlation

The correlation between FAGIX and TRRIX is 0.74, 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	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.79
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (10Y) Calculated over the trailing 10-year period	0.81
Correlation (All Time) Calculated using the full available price history since Oct 1, 2002	0.72

The correlation between FAGIX and TRRIX has been stable across timeframes, ranging from 0.72 to 0.81 - a consistent structural relationship.

Return for Risk

FAGIX vs. TRRIX — Risk / Return Rank

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

FAGIX

FAGIX Risk / Return Rank: 91
FAGIX Sharpe Ratio Rank: 91
FAGIX Sortino Ratio Rank: 88
FAGIX Omega Ratio Rank: 87
FAGIX Calmar Ratio Rank: 95
FAGIX Martin Ratio Rank: 96

TRRIX

TRRIX Risk / Return Rank: 67
TRRIX Sharpe Ratio Rank: 66
TRRIX Sortino Ratio Rank: 69
TRRIX Omega Ratio Rank: 72
TRRIX Calmar Ratio Rank: 60
TRRIX Martin Ratio Rank: 65

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.

FAGIX vs. TRRIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Capital & Income Fund (FAGIX) and T. Rowe Price Retirement Balanced Fund (TRRIX). 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.

	FAGIX	TRRIX	Difference
Sharpe ratio: Return per unit of total volatility	2.63	1.89	+0.74
Sortino ratio: Return per unit of downside risk	3.75	2.74	+1.02
Omega ratio: Gain probability vs. loss probability	1.52	1.37	+0.14
Calmar ratio: Return relative to maximum drawdown	4.85	2.43	+2.42
Martin ratio: Return relative to average drawdown	19.86	10.06	+9.80

FAGIX vs. TRRIX - Sharpe Ratio Comparison

The current FAGIX Sharpe Ratio is 2.63, which is higher than the TRRIX Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of FAGIX and TRRIX, 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

FAGIX vs. TRRIX - Drawdown Comparison

The maximum FAGIX drawdown since its inception was -37.97%, which is greater than TRRIX's maximum drawdown of -27.77%. Use the drawdown chart below to compare losses from any high point for FAGIX and TRRIX.

Drawdown Indicators

	FAGIX	TRRIX	Difference
Max Drawdown Largest peak-to-trough decline	-37.97%	-27.77%	-10.20%
Max Drawdown (1Y) Largest decline over 1 year	-3.49%	-4.85%	+1.36%
Max Drawdown (3Y) Largest decline over 3 years	-7.26%	-6.10%	-1.16%
Max Drawdown (5Y) Largest decline over 5 years	-15.42%	-18.13%	+2.71%
Max Drawdown (10Y) Largest decline over 10 years	-28.45%	-18.57%	-9.88%
Current Drawdown Current decline from peak	-1.04%	-0.95%	-0.09%
Average Drawdown Average peak-to-trough decline	-6.98%	-2.83%	-4.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.85%	1.16%	-0.31%

Volatility

FAGIX vs. TRRIX - Volatility Comparison

Fidelity Capital & Income Fund (FAGIX) has a higher volatility of 2.71% compared to T. Rowe Price Retirement Balanced Fund (TRRIX) at 2.45%. This indicates that FAGIX's price experiences larger fluctuations and is considered to be riskier than TRRIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FAGIX	TRRIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.71%	2.45%	+0.26%
Volatility (6M) Calculated over the trailing 6-month period	5.30%	5.24%	+0.06%
Volatility (1Y) Calculated over the trailing 1-year period	6.42%	6.24%	+0.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.66%	7.15%	-0.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.84%	7.24%	+0.60%

FAGIX vs. TRRIX - Expense Ratio Comparison

FAGIX has a 0.67% expense ratio, which is higher than TRRIX's 0.49% expense ratio.

Dividends

FAGIX vs. TRRIX - Dividend Comparison

FAGIX's dividend yield for the trailing twelve months is around 4.47%, less than TRRIX's 4.68% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FAGIX Fidelity Capital & Income Fund	4.47%	4.74%	5.02%	5.28%	10.25%	6.08%	4.59%	5.00%	5.67%	5.05%	4.57%	4.51%
TRRIX T. Rowe Price Retirement Balanced Fund	4.68%	4.86%	5.78%	4.32%	10.15%	12.67%	9.27%	3.39%	7.01%	5.07%	3.40%	3.44%

Frequently Asked Questions

Can I hold both FAGIX and TRRIX in my portfolio?

FAGIX and TRRIX have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FAGIX or TRRIX?

FAGIX has higher volatility (2.71%) compared to TRRIX (2.45%). In terms of maximum drawdown, FAGIX dropped -37.97% vs TRRIX's -27.77%.

Which has better risk-adjusted returns?

FAGIX currently has the higher Sharpe Ratio (2.63 vs 1.89), 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.