FARFX vs. FRIMX

Last updated Jul 22, 2026

FARFX (Fidelity Advisor Managed Retirement 2025 Fund Class A) and FRIMX (Fidelity Advisor Managed Retirement Income Fund Class I) are both Target Retirement Date funds from BlackRock. With a 0.95 correlation, they move nearly in lockstep. FARFX charges 0.73%/yr vs 0.45%/yr for FRIMX.

Performance

FARFX vs. FRIMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Managed Retirement 2025 Fund Class A (FARFX) and Fidelity Advisor Managed Retirement Income Fund Class I (FRIMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FARFX

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

FRIMX

• 1D: 0.00%
• 1M: 0.00%
• 6M: 3.20%
• YTD: 3.59%
• 1Y: 7.82%
• 3Y*: 7.29%
• 5Y*: 2.73%
• 10Y*: 4.25%
• ALL TIME*: 4.16%

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

FARFX vs. FRIMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FARFX Fidelity Advisor Managed Retirement 2025 Fund Class A	4.40%	13.15%	6.30%	11.55%	-15.86%	7.73%	12.80%	17.23%	-5.29%	13.98%
FRIMX Fidelity Advisor Managed Retirement Income Fund Class I	3.59%	9.94%	4.30%	8.06%	-11.66%	2.78%	8.57%	10.57%	-1.82%	7.08%

Correlation

The correlation between FARFX and FRIMX is 0.95, 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	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (10Y) Calculated over the trailing 10-year period	0.91
Correlation (All Time) Calculated using the full available price history since Dec 31, 2007	0.95

The correlation between FARFX and FRIMX has been stable across timeframes, ranging from 0.91 to 0.95 - a consistent structural relationship.

Return for Risk

FARFX vs. FRIMX — Risk / Return Rank

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

FARFX

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

FRIMX

FRIMX Risk / Return Rank: 73
FRIMX Sharpe Ratio Rank: 75
FRIMX Sortino Ratio Rank: 75
FRIMX Omega Ratio Rank: 79
FRIMX Calmar Ratio Rank: 65
FRIMX Martin Ratio Rank: 72

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.

FARFX vs. FRIMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Managed Retirement 2025 Fund Class A (FARFX) and Fidelity Advisor Managed Retirement Income Fund Class I (FRIMX). 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.

	FARFX	FRIMX	Difference
Sharpe ratio: Return per unit of total volatility	—	1.90	—
Sortino ratio: Return per unit of downside risk	—	2.74	—
Omega ratio: Gain probability vs. loss probability	—	1.38	—
Calmar ratio: Return relative to maximum drawdown	—	2.38	—
Martin ratio: Return relative to average drawdown	—	9.93	—

Drawdowns

Drawdown Indicators

	FARFX	FRIMX	Difference
Max Drawdown Largest peak-to-trough decline	—	-33.73%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-3.44%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-4.82%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-16.12%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-16.12%	—
Current Drawdown Current decline from peak	—	-0.44%	—
Average Drawdown Average peak-to-trough decline	—	-3.69%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.82%	—

Volatility

Volatility by Period

	FARFX	FRIMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.59%	—
Volatility (6M) Calculated over the trailing 6-month period	—	3.67%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	4.32%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	5.31%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	4.52%	—

FARFX vs. FRIMX - Expense Ratio Comparison

FARFX has a 0.73% expense ratio, which is higher than FRIMX's 0.45% expense ratio.

Dividends

FARFX vs. FRIMX - Dividend Comparison

FARFX's dividend yield for the trailing twelve months is around 3.35%, more than FRIMX's 3.11% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FARFX Fidelity Advisor Managed Retirement 2025 Fund Class A	3.35%	2.43%	2.35%	2.21%	4.50%	4.96%	3.36%	3.64%	6.83%	24.58%	2.20%	4.23%
FRIMX Fidelity Advisor Managed Retirement Income Fund Class I	3.11%	3.11%	3.01%	2.82%	4.52%	3.54%	2.41%	2.56%	4.67%	8.56%	1.67%	1.68%

Frequently Asked Questions

Can I hold both FARFX and FRIMX in my portfolio?

With a correlation of 0.95, FARFX and FRIMX 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.