FIRFX vs. VFAIX

Last updated Aug 1, 2026

FIRFX (Fidelity Advisor Managed Retirement 2025 Fund Class I) and VFAIX (Vanguard Financials Index Fund Admiral Shares) are both mutual funds - FIRFX is a Target Retirement Date fund managed by BlackRock, while VFAIX is a Financials Equities fund tracking the MSCI US Investable Market Financials 25/50 Index. Their 0.76 correlation means they have sometimes moved together and sometimes differently. FIRFX charges 0.48%/yr vs 0.09%/yr for VFAIX.

Performance

FIRFX vs. VFAIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Managed Retirement 2025 Fund Class I (FIRFX) and Vanguard Financials Index Fund Admiral Shares (VFAIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FIRFX

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

VFAIX

• 1D: 0.50%
• 1M: 2.34%
• 6M: 7.49%
• YTD: 5.46%
• 1Y: 13.21%
• 3Y*: 19.66%
• 5Y*: 11.54%
• 10Y*: 13.41%
• ALL TIME*: 6.81%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
VFAIX Vanguard Financials Index Fund Admiral Shares	$0.00	$0.00	$0.00

FIRFX vs. VFAIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FIRFX Fidelity Advisor Managed Retirement 2025 Fund Class I	4.52%	13.43%	6.55%	11.83%	-15.66%	8.02%	13.09%	17.53%	-5.07%	14.27%
VFAIX Vanguard Financials Index Fund Admiral Shares	5.46%	14.90%	30.46%	14.07%	-12.26%	36.27%	-2.15%	31.63%	-13.47%	20.05%

Correlation

The correlation between FIRFX and VFAIX is 0.47, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.47
Correlation (3Y) Balances recent behavior with more history.	0.56
Correlation (5Y) Shows whether the relationship held over a longer period.	0.64
Correlation (10Y) Provides a long-term view across more market conditions.	0.65
Correlation (All Time) Calculated using the full available price history since Dec 31, 2007	0.76

Over the past year, the correlation between FIRFX and VFAIX has dropped to 0.47 - well below their long-term average of 0.76, suggesting their price drivers have been diverging.

Return for Risk

FIRFX vs. VFAIX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FIRFX

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

VFAIX

VFAIX Risk / Return Rank: 18
VFAIX Sharpe Ratio Rank: 20
VFAIX Sortino Ratio Rank: 19
VFAIX Omega Ratio Rank: 20
VFAIX Calmar Ratio Rank: 15
VFAIX Martin Ratio Rank: 14

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FIRFX vs. VFAIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Managed Retirement 2025 Fund Class I (FIRFX) and Vanguard Financials Index Fund Admiral Shares (VFAIX). 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.

	FIRFX	VFAIX	Difference
Sharpe ratio: Return per unit of total volatility	—	0.70	—
Sortino ratio: Return per unit of downside risk	—	1.03	—
Omega ratio: Gain probability vs. loss probability	—	1.13	—
Calmar ratio: Return relative to maximum drawdown	—	0.71	—
Martin ratio: Return relative to average drawdown	—	1.85	—

Drawdowns

Drawdown Indicators

	FIRFX	VFAIX	Difference
Max Drawdown Largest peak-to-trough decline	—	-78.64%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-14.72%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-17.31%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-25.71%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-44.37%	—
Current Drawdown Current decline from peak	—	-1.08%	—
Average Drawdown Average peak-to-trough decline	—	-18.49%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	5.66%	—

Volatility

Volatility by Period

	FIRFX	VFAIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.48%	—
Volatility (6M) Calculated over the trailing 6-month period	—	11.25%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	15.04%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	19.17%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	22.54%	—

FIRFX vs. VFAIX - Expense Ratio Comparison

FIRFX has a 0.48% expense ratio, which is higher than VFAIX's 0.09% expense ratio.

Dividends

FIRFX vs. VFAIX - Dividend Comparison

FIRFX's dividend yield for the trailing twelve months is around 3.58%, more than VFAIX's 1.67% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIRFX Fidelity Advisor Managed Retirement 2025 Fund Class I	3.36%	2.66%	2.56%	2.43%	4.63%	5.08%	3.57%	3.80%	7.10%	24.68%	2.44%	4.49%
VFAIX Vanguard Financials Index Fund Admiral Shares	1.67%	1.56%	1.75%	2.08%	2.31%	2.62%	2.21%	2.17%	2.30%	1.54%	1.64%	2.00%

Frequently Asked Questions

Can I hold both FIRFX and VFAIX in my portfolio?

FIRFX and VFAIX have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.