FKRFX vs. VTMSX

Last updated Aug 1, 2026

FKRFX (Fidelity Managed Retirement 2025 Fund Class K) and VTMSX (Vanguard Tax-Managed Small-Cap Fund Admiral Shares) are both mutual funds - FKRFX is a Target Retirement Date fund managed by BlackRock, while VTMSX is a Small Cap Blend Equities fund managed by BlackRock. Their 0.74 correlation means they have sometimes moved together and sometimes differently. FKRFX charges 0.38%/yr vs 0.09%/yr for VTMSX.

Performance

FKRFX vs. VTMSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Managed Retirement 2025 Fund Class K (FKRFX) and Vanguard Tax-Managed Small-Cap Fund Admiral Shares (VTMSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FKRFX

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

VTMSX

• 1D: 0.86%
• 1M: -0.56%
• 6M: 15.49%
• YTD: 21.93%
• 1Y: 36.13%
• 3Y*: 13.30%
• 5Y*: 7.52%
• 10Y*: 10.75%
• ALL TIME*: 10.61%

*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)
VTMSX Vanguard Tax-Managed Small-Cap Fund Admiral Shares	$0.00	$0.00	$0.00

FKRFX vs. VTMSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FKRFX Fidelity Managed Retirement 2025 Fund Class K	4.56%	13.44%	6.67%	11.94%	-15.58%	8.11%	13.21%	6.18%
VTMSX Vanguard Tax-Managed Small-Cap Fund Admiral Shares	21.93%	5.93%	8.61%	15.95%	-16.16%	27.08%	11.05%	6.67%

Correlation

The correlation between FKRFX and VTMSX is 0.71, 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.	0.71
Correlation (3Y) Balances recent behavior with more history.	0.71
Correlation (5Y) Shows whether the relationship held over a longer period.	0.74
Correlation (All Time) Calculated using the full available price history since Aug 1, 2019	0.74

The correlation between FKRFX and VTMSX has been stable across timeframes, ranging from 0.71 to 0.74 - a consistent structural relationship.

Return for Risk

FKRFX vs. VTMSX — Risk / Return Rank

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

FKRFX

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

VTMSX

VTMSX Risk / Return Rank: 84
VTMSX Sharpe Ratio Rank: 80
VTMSX Sortino Ratio Rank: 81
VTMSX Omega Ratio Rank: 76
VTMSX Calmar Ratio Rank: 93
VTMSX Martin Ratio Rank: 92

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.

FKRFX vs. VTMSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Managed Retirement 2025 Fund Class K (FKRFX) and Vanguard Tax-Managed Small-Cap Fund Admiral Shares (VTMSX). 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.

	FKRFX	VTMSX	Difference
Sharpe ratio: Return per unit of total volatility	—	1.87	—
Sortino ratio: Return per unit of downside risk	—	2.77	—
Omega ratio: Gain probability vs. loss probability	—	1.32	—
Calmar ratio: Return relative to maximum drawdown	—	3.79	—
Martin ratio: Return relative to average drawdown	—	12.88	—

Drawdowns

Drawdown Indicators

	FKRFX	VTMSX	Difference
Max Drawdown Largest peak-to-trough decline	—	-57.84%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-8.59%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-27.93%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-27.93%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-43.88%	—
Current Drawdown Current decline from peak	—	-1.82%	—
Average Drawdown Average peak-to-trough decline	—	-8.88%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.53%	—

Volatility

Volatility by Period

	FKRFX	VTMSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.47%	—
Volatility (6M) Calculated over the trailing 6-month period	—	11.67%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	17.40%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	21.32%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	23.07%	—

FKRFX vs. VTMSX - Expense Ratio Comparison

FKRFX has a 0.38% expense ratio, which is higher than VTMSX's 0.09% expense ratio.

Dividends

FKRFX vs. VTMSX - Dividend Comparison

FKRFX's dividend yield for the trailing twelve months is around 3.68%, more than VTMSX's 1.19% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FKRFX Fidelity Managed Retirement 2025 Fund Class K	3.46%	2.68%	2.58%	2.59%	4.86%	5.20%	3.66%	3.60%	0.00%	0.00%	0.00%	0.00%
VTMSX Vanguard Tax-Managed Small-Cap Fund Admiral Shares	1.19%	1.28%	1.44%	1.50%	1.51%	1.16%	1.09%	1.15%	1.26%	1.11%	1.01%	1.26%

Frequently Asked Questions

Can I hold both FKRFX and VTMSX in my portfolio?

FKRFX and VTMSX have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.