FFANX vs. TRRIX
FFANX (Fidelity Asset Manager 40% Fund) and TRRIX (T. Rowe Price Retirement Balanced Fund) are both Diversified Portfolio funds. Over the past 10 years, FFANX returned 6.58%/yr vs 6.63%/yr for TRRIX. Their correlation of 0.95 means they have usually moved in the same direction. FFANX charges 0.53%/yr vs 0.49%/yr for TRRIX.
Performance
FFANX vs. TRRIX - Performance Comparison
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Returns By Period
In the year-to-date period, FFANX achieves a 7.14% return, which is significantly higher than TRRIX's 5.37% return. Both investments have delivered pretty close results over the past 10 years, with FFANX having a 6.58% annualized return and TRRIX not far ahead at 6.63%.
FFANX
- 1D
- 0.61%
- 1M
- 0.05%
- 6M
- 4.98%
- YTD
- 7.14%
- 1Y
- 13.18%
- 3Y*
- 10.89%
- 5Y*
- 4.97%
- 10Y*
- 6.58%
- ALL TIME*
- 5.51%
TRRIX
- 1D
- 0.48%
- 1M
- 0.14%
- 6M
- 3.58%
- YTD
- 5.37%
- 1Y
- 8.44%
- 3Y*
- 10.86%
- 5Y*
- 5.22%
- 10Y*
- 6.63%
- ALL TIME*
- 6.32%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
FFANX vs. TRRIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FFANX Fidelity Asset Manager 40% Fund | 7.14% | 13.16% | 7.40% | 11.52% | -13.62% | 8.03% | 13.10% | 15.81% | -4.06% | 11.25% |
TRRIX T. Rowe Price Retirement Balanced Fund | 5.37% | 9.39% | 10.98% | 14.41% | -13.16% | 8.63% | 11.48% | 15.32% | -3.29% | 10.38% |
Correlation
The correlation between FFANX and TRRIX is 0.91, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.91 |
Correlation (3Y) Balances recent behavior with more history. | 0.91 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.93 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.93 |
Correlation (All Time) Calculated using the full available price history since Oct 11, 2007 | 0.95 |
The correlation between FFANX and TRRIX has been stable across timeframes, ranging from 0.91 to 0.95 - a consistent structural relationship.
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Return for Risk
FFANX vs. TRRIX — Risk / Return Rank
FFANX
TRRIX
FFANX vs. TRRIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Asset Manager 40% Fund (FFANX) 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.
| FFANX | TRRIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.45 | ||
| Sortino ratioReturn per unit of downside risk | +0.62 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.28 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 2.71 | 1.94 | +0.77 |
| Martin ratioReturn relative to average drawdown | 11.20 | 7.69 | +3.51 |
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Drawdowns
FFANX vs. TRRIX - Drawdown Comparison
The maximum FFANX drawdown since its inception was -31.69%, which is greater than TRRIX's maximum drawdown of -27.77%. Use the drawdown chart below to compare losses from any high point for FFANX and TRRIX.
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Drawdown Indicators
| FFANX | TRRIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.69% | -27.77% | -3.92% |
Max Drawdown (1Y)Largest decline over 1 year | -5.20% | -4.85% | -0.35% |
Max Drawdown (3Y)Largest decline over 3 years | -7.55% | -6.10% | -1.45% |
Max Drawdown (5Y)Largest decline over 5 years | -18.52% | -18.13% | -0.39% |
Max Drawdown (10Y)Largest decline over 10 years | -18.52% | -18.57% | +0.05% |
Current DrawdownCurrent decline from peak | -0.48% | -0.34% | -0.14% |
Average DrawdownAverage peak-to-trough decline | -3.77% | -2.78% | -0.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.25% | 1.21% | +0.04% |
Volatility
FFANX vs. TRRIX - Volatility Comparison
Fidelity Asset Manager 40% Fund (FFANX) has a higher volatility of 2.18% compared to T. Rowe Price Retirement Balanced Fund (TRRIX) at 1.58%. This indicates that FFANX'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.
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Volatility by Period
| FFANX | TRRIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.18% | 1.58% | +0.60% |
Volatility (6M)Calculated over the trailing 6-month period | 6.29% | 5.14% | +1.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.36% | 6.45% | +0.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.99% | 7.21% | +0.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.74% | 7.24% | +0.50% |
FFANX vs. TRRIX - Expense Ratio Comparison
FFANX has a 0.53% expense ratio, which is higher than TRRIX's 0.49% expense ratio.
Dividends
FFANX vs. TRRIX - Dividend Comparison
FFANX's dividend yield for the trailing twelve months is around 3.64%, more than TRRIX's 3.24% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FFANX Fidelity Asset Manager 40% Fund | 3.64% | 3.97% | 2.81% | 2.49% | 5.75% | 2.35% | 2.36% | 3.67% | 4.56% | 2.56% | 1.43% | 3.18% |
TRRIX T. Rowe Price Retirement Balanced Fund | 3.24% | 3.38% | 6.69% | 6.80% | 10.15% | 12.67% | 9.27% | 3.39% | 7.01% | 5.07% | 3.40% | 3.44% |
Frequently Asked Questions
With a correlation of 0.91, FFANX and TRRIX 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.
FFANX has higher volatility (2.18%) compared to TRRIX (1.58%). In terms of maximum drawdown, FFANX dropped -31.69% vs TRRIX's -27.77%.
FFANX currently has the higher Sharpe Ratio (1.92 vs 1.46), 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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