FIRSX vs. VTMFX

Last updated Jul 15, 2026

FIRSX (Fidelity Managed Retirement 2015 Fund) and VTMFX (Vanguard Tax-Managed Balanced Fund Admiral Shares) are both mutual funds - FIRSX is a Target Retirement Date fund managed by BlackRock, while VTMFX is a Diversified Portfolio fund tracking the Composite benchmark: Russell 1000 Index and Bloomberg 1-15 Year Municipal Bond Index. Their correlation of 0.90 suggests significant overlap in exposure. FIRSX charges 0.46%/yr vs 0.05%/yr for VTMFX.

Performance

FIRSX vs. VTMFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Managed Retirement 2015 Fund (FIRSX) and Vanguard Tax-Managed Balanced Fund Admiral Shares (VTMFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FIRSX

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

VTMFX

• 1D: -0.41%
• 1M: 0.71%
• 6M: 4.28%
• YTD: 5.57%
• 1Y: 12.97%
• 3Y*: 11.45%
• 5Y*: 6.73%
• 10Y*: 8.43%

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

FIRSX vs. VTMFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FIRSX Fidelity Managed Retirement 2015 Fund	4.25%	11.12%	5.17%	9.63%	-13.52%	5.32%	10.88%	14.45%	-3.68%	12.08%
VTMFX Vanguard Tax-Managed Balanced Fund Admiral Shares	5.57%	11.28%	12.17%	15.55%	-12.69%	13.10%	13.31%	18.01%	-1.40%	12.61%

Correlation

The correlation between FIRSX and VTMFX is 0.80, 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	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (5Y) Calculated over the trailing 5-year period	0.78
Correlation (10Y) Calculated over the trailing 10-year period	0.82
Correlation (All Time) Calculated using the full available price history since Aug 30, 2007	0.90

The correlation between FIRSX and VTMFX shifts across timeframes, from 0.77 (3 years) to 0.90 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FIRSX vs. VTMFX — Risk / Return Rank

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

FIRSX

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

VTMFX

VTMFX Risk / Return Rank: 75
VTMFX Sharpe Ratio Rank: 78
VTMFX Sortino Ratio Rank: 77
VTMFX Omega Ratio Rank: 77
VTMFX Calmar Ratio Rank: 64
VTMFX Martin Ratio Rank: 80

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.

FIRSX vs. VTMFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Managed Retirement 2015 Fund (FIRSX) and Vanguard Tax-Managed Balanced Fund Admiral Shares (VTMFX). 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.

	FIRSX	VTMFX	Difference
Sharpe ratio: Return per unit of total volatility	—	2.02	—
Sortino ratio: Return per unit of downside risk	—	2.86	—
Omega ratio: Gain probability vs. loss probability	—	1.38	—
Calmar ratio: Return relative to maximum drawdown	—	2.44	—
Martin ratio: Return relative to average drawdown	—	11.25	—

Drawdowns

Drawdown Indicators

	FIRSX	VTMFX	Difference
Max Drawdown Largest peak-to-trough decline	—	-28.49%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-5.38%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-10.61%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-17.40%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-21.87%	—
Current Drawdown Current decline from peak	—	-0.43%	—
Average Drawdown Average peak-to-trough decline	—	-3.54%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.16%	—

Volatility

Volatility by Period

	FIRSX	VTMFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.01%	—
Volatility (6M) Calculated over the trailing 6-month period	—	5.26%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	6.50%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	8.58%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	9.13%	—

FIRSX vs. VTMFX - Expense Ratio Comparison

FIRSX has a 0.46% expense ratio, which is higher than VTMFX's 0.05% expense ratio.

Dividends

FIRSX vs. VTMFX - Dividend Comparison

FIRSX's dividend yield for the trailing twelve months is around 2.95%, more than VTMFX's 2.20% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIRSX Fidelity Managed Retirement 2015 Fund	2.95%	3.01%	2.89%	2.68%	4.92%	5.21%	3.39%	3.24%	6.33%	24.28%	2.04%	4.48%
VTMFX Vanguard Tax-Managed Balanced Fund Admiral Shares	2.20%	2.14%	2.08%	1.94%	1.85%	1.38%	1.72%	2.05%	2.22%	2.00%	2.13%	2.06%

Frequently Asked Questions

Can I hold both FIRSX and VTMFX in my portfolio?

FIRSX and VTMFX have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.