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FARFX vs. VTCLX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FARFX vs. VTCLX

Last updated Jun 4, 2026

FARFX (Fidelity Advisor Managed Retirement 2025 Fund Class A) and VTCLX (Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares) are both mutual funds - FARFX is a Target Retirement Date fund managed by BlackRock, while VTCLX is a Large Cap Blend Equities fund managed by BlackRock. Over the past 10 years, FARFX returned 6.75%/yr vs 15.47%/yr for VTCLX. Their correlation of 0.92 suggests significant overlap in exposure. FARFX charges 0.73%/yr vs 0.09%/yr for VTCLX.

Performance

FARFX vs. VTCLX - 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 Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares (VTCLX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, FARFX achieves a 6.37% return, which is significantly lower than VTCLX's 11.31% return. Over the past 10 years, FARFX has underperformed VTCLX with an annualized return of 6.75%, while VTCLX has yielded a comparatively higher 15.47% annualized return.

FARFX

1D
0.33%
1M
2.51%
YTD
6.37%
6M
6.84%
1Y
15.37%
3Y*
10.57%
5Y*
4.26%
10Y*
6.75%

VTCLX

1D
0.22%
1M
5.61%
YTD
11.31%
6M
11.26%
1Y
28.29%
3Y*
22.21%
5Y*
13.46%
10Y*
15.47%
*Multi-year figures are annualized to reflect compound growth (CAGR)

FARFX vs. VTCLX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
FARFX
Fidelity Advisor Managed Retirement 2025 Fund Class A		6.37%13.15%6.30%11.55%-15.86%7.73%12.80%17.23%-5.29%13.98%
VTCLX
Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares		11.31%17.44%23.76%26.62%-19.07%26.87%21.08%31.47%-4.98%22.40%

Correlation

The correlation between FARFX and VTCLX is 0.86, 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

0.86

Correlation (3Y)
Calculated over the trailing 3-year period

0.82

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 2, 2008

0.92

The correlation between FARFX and VTCLX shifts across timeframes, from 0.82 (3 years) to 0.92 (all time), reflecting how their relationship changes across market environments.

FARFX vs. VTCLX - Sectors Allocation Comparison

Sectors
FARFX
VTCLX

Technology

23.0%
33.9%

Financial Services

17.4%
11.9%

Industrials

15.6%
8.8%

Consumer Cyclical

9.4%
10.1%

Healthcare

8.1%
8.6%

Communication Services

7.2%
10.9%

Basic Materials

5.9%
2.1%

Energy

5.6%
3.8%

Consumer Defensive

4.4%
4.9%

Utilities

2.0%
2.7%

Real Estate

1.3%
2.0%

Technology

FARFX
23.0%
VTCLX
33.9%

Financial Services

FARFX
17.4%
VTCLX
11.9%

Industrials

FARFX
15.6%
VTCLX
8.8%

Consumer Cyclical

FARFX
9.4%
VTCLX
10.1%

Healthcare

FARFX
8.1%
VTCLX
8.6%

Communication Services

FARFX
7.2%
VTCLX
10.9%

Basic Materials

FARFX
5.9%
VTCLX
2.1%

Energy

FARFX
5.6%
VTCLX
3.8%

Consumer Defensive

FARFX
4.4%
VTCLX
4.9%

Utilities

FARFX
2.0%
VTCLX
2.7%

Real Estate

FARFX
1.3%
VTCLX
2.0%

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Fidelity Advisor Managed Retirement 2025 Fund Class A

Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares

Often compared with FARFX:
FARFX vs. FFRHXFARFX vs. URINXFARFX vs. WFSPXFARFX vs. FFSZXFARFX vs. PADLXFARFX vs. FIKFXFARFX vs. FRKMX
Often compared with VTCLX:
VTCLX vs. VOOVTCLX vs. IWOVTCLX vs. VTMFXVTCLX vs. VTIVTCLX vs. VTMSXVTCLX vs. PRCOXVTCLX vs. VTSMX

Return for Risk

FARFX vs. VTCLX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FARFX
FARFX Risk / Return Rank: 6969
Overall Rank
FARFX Sharpe Ratio Rank: 7171
Sharpe Ratio Rank
FARFX Sortino Ratio Rank: 7272
Sortino Ratio Rank
FARFX Omega Ratio Rank: 7373
Omega Ratio Rank
FARFX Calmar Ratio Rank: 6262
Calmar Ratio Rank
FARFX Martin Ratio Rank: 6868
Martin Ratio Rank
VTCLX
VTCLX Risk / Return Rank: 7070
Overall Rank
VTCLX Sharpe Ratio Rank: 6969
Sharpe Ratio Rank
VTCLX Sortino Ratio Rank: 6363
Sortino Ratio Rank
VTCLX Omega Ratio Rank: 6262
Omega Ratio Rank
VTCLX Calmar Ratio Rank: 7373
Calmar Ratio Rank
VTCLX Martin Ratio Rank: 8282
Martin Ratio Rank
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. VTCLX - 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 Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares (VTCLX). 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.

FARFXVTCLXDifference
Sharpe ratioReturn per unit of total volatility
2.44
2.43

+0.01

Sortino ratioReturn per unit of downside risk
3.54
3.32

+0.22

Omega ratioGain probability vs. loss probability

1.48

1.44

+0.04

Calmar ratioReturn relative to maximum drawdown

3.03

3.32

-0.29

Martin ratioReturn relative to average drawdown

13.12

15.43

-2.32

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FARFX vs. VTCLX - Sharpe Ratio Comparison

The current FARFX Sharpe Ratio is 2.44, which is comparable to the VTCLX Sharpe Ratio of 2.43. The chart below compares the historical Sharpe Ratios of FARFX and VTCLX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

FARFXVTCLXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.44

2.43

+0.01

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.52

0.79

-0.26

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.81

0.85

-0.04

Sharpe Ratio (All Time)

Calculated using the full available price history

0.50

0.53

-0.03

Drawdowns

FARFX vs. VTCLX - Drawdown Comparison

The maximum FARFX drawdown since its inception was -41.46%, smaller than the maximum VTCLX drawdown of -55.18%. Use the drawdown chart below to compare losses from any high point for FARFX and VTCLX.

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Drawdown Indicators

FARFXVTCLXDifference

Max Drawdown

Largest peak-to-trough decline

-41.46%

-55.18%

+13.72%

Max Drawdown (1Y)

Largest decline over 1 year

-5.13%

-8.79%

+3.66%

Max Drawdown (3Y)

Largest decline over 3 years

-7.32%

-19.01%

+11.69%

Max Drawdown (5Y)

Largest decline over 5 years

-21.75%

-24.98%

+3.23%

Max Drawdown (10Y)

Largest decline over 10 years

-21.75%

-34.56%

+12.81%

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-5.34%

-7.57%

+2.23%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.18%

1.89%

-0.71%

Volatility

FARFX vs. VTCLX - Volatility Comparison

The current volatility for Fidelity Advisor Managed Retirement 2025 Fund Class A (FARFX) is 2.39%, while Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares (VTCLX) has a volatility of 2.86%. This indicates that FARFX experiences smaller price fluctuations and is considered to be less risky than VTCLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FARFXVTCLXDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.39%

2.86%

-0.47%

Volatility (6M)

Calculated over the trailing 6-month period

5.29%

9.09%

-3.80%

Volatility (1Y)

Calculated over the trailing 1-year period

6.36%

12.01%

-5.65%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

8.18%

17.22%

-9.04%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

8.36%

18.28%

-9.92%

FARFX vs. VTCLX - Expense Ratio Comparison

FARFX has a 0.73% expense ratio, which is higher than VTCLX's 0.09% expense ratio.

Dividends

FARFX vs. VTCLX - Dividend Comparison

FARFX's dividend yield for the trailing twelve months is around 2.35%, more than VTCLX's 0.85% yield.

PositionTTM20252024202320222021202020192018201720162015
FARFX
Fidelity Advisor Managed Retirement 2025 Fund Class A		2.35%2.43%2.35%2.21%4.50%4.96%3.36%3.64%6.83%24.58%2.20%4.23%
VTCLX
Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares		0.85%0.93%1.04%1.24%1.47%1.04%1.32%1.52%1.83%1.57%1.76%1.69%

Frequently Asked Questions

FARFX and VTCLX have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

VTCLX has higher volatility (2.86%) compared to FARFX (2.39%). In terms of maximum drawdown, FARFX dropped -41.46% vs VTCLX's -55.18%.

FARFX currently has the higher Sharpe Ratio (2.44 vs 2.43), 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.

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