FIRVX vs. TDIFX

Last updated Aug 4, 2026

FIRVX (Fidelity Managed Retirement 2020 Fund) and TDIFX (Dimensional Retirement Income Fund) are both Target Retirement Date funds. Their correlation of 0.83 means they have usually moved in the same direction. FIRVX charges 0.47%/yr vs 0.06%/yr for TDIFX.

Performance

FIRVX vs. TDIFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Managed Retirement 2020 Fund (FIRVX) and Dimensional Retirement Income Fund (TDIFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FIRVX

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

TDIFX

• 1D: 0.00%
• 1M: -0.24%
• 6M: 2.11%
• YTD: 3.13%
• 1Y: 6.56%
• 3Y*: 6.43%
• 5Y*: 4.53%
• 10Y*: 4.95%
• ALL TIME*: 5.12%

*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)
TDIFX Dimensional Retirement Income Fund	$0.00	$0.00	$0.00

FIRVX vs. TDIFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FIRVX Fidelity Managed Retirement 2020 Fund	1,440,933.92%	12.25%	5.86%	10.72%	-14.63%	6.77%	12.06%	16.19%	-4.45%	13.32%
TDIFX Dimensional Retirement Income Fund	3.13%	7.22%	6.21%	7.76%	-9.37%	14.53%	9.33%	9.96%	-1.98%	5.17%

Correlation

The correlation between FIRVX and TDIFX is 0.80, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.80
Correlation (3Y) Balances recent behavior with more history.	0.89
Correlation (5Y) Shows whether the relationship held over a longer period.	0.89
Correlation (10Y) Provides a long-term view across more market conditions.	0.84
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016	0.83

The correlation between FIRVX and TDIFX has been stable across timeframes, ranging from 0.80 to 0.89 - a consistent structural relationship.

Return for Risk

FIRVX vs. TDIFX — Risk / Return Rank

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

FIRVX

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

TDIFX

TDIFX Risk / Return Rank: 82
TDIFX Sharpe Ratio Rank: 82
TDIFX Sortino Ratio Rank: 82
TDIFX Omega Ratio Rank: 81
TDIFX Calmar Ratio Rank: 79
TDIFX Martin Ratio Rank: 85

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.

FIRVX vs. TDIFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Managed Retirement 2020 Fund (FIRVX) and Dimensional Retirement Income Fund (TDIFX). 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.

	FIRVX	TDIFX	Difference
Sharpe ratio: Return per unit of total volatility	—	2.00	—
Sortino ratio: Return per unit of downside risk	—	2.92	—
Omega ratio: Gain probability vs. loss probability	—	1.38	—
Calmar ratio: Return relative to maximum drawdown	—	2.68	—
Martin ratio: Return relative to average drawdown	—	11.11	—

Drawdowns

Drawdown Indicators

	FIRVX	TDIFX	Difference
Max Drawdown Largest peak-to-trough decline	—	-12.21%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-2.61%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-3.51%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-12.21%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-12.21%	—
Current Drawdown Current decline from peak	—	-0.72%	—
Average Drawdown Average peak-to-trough decline	—	-1.73%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.61%	—

Volatility

Volatility by Period

	FIRVX	TDIFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.84%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.80%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	3.51%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	5.91%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	5.06%	—

FIRVX vs. TDIFX - Expense Ratio Comparison

FIRVX has a 0.47% expense ratio, which is higher than TDIFX's 0.06% expense ratio.

Dividends

FIRVX vs. TDIFX - Dividend Comparison

FIRVX's dividend yield for the trailing twelve months is around 102.53%, more than TDIFX's 3.26% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIRVX Fidelity Managed Retirement 2020 Fund	102.53%	2.83%	2.74%	2.57%	3.52%	4.61%	3.74%	3.18%	6.90%	25.16%	2.28%	4.45%
TDIFX Dimensional Retirement Income Fund	3.26%	1.77%	3.11%	3.09%	4.66%	9.39%	1.39%	1.98%	2.11%	0.98%	0.89%	0.00%

Frequently Asked Questions

Can I hold both FIRVX and TDIFX in my portfolio?

FIRVX and TDIFX 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.