FRAMX vs. BDMIX

Last updated Aug 4, 2026

FRAMX (Fidelity Advisor Managed Retirement Income Fund Class A) and BDMIX (BlackRock Global Equity Market Neutral Fund Class I) are both mutual funds - FRAMX is a Target Retirement Date fund managed by BlackRock, while BDMIX is a Equity Market Neutral fund managed by BlackRock. Their 0.09 correlation means their historical movements had little consistent relationship. FRAMX charges 0.70%/yr vs 1.34%/yr for BDMIX.

Performance

FRAMX vs. BDMIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Managed Retirement Income Fund Class A (FRAMX) and BlackRock Global Equity Market Neutral Fund Class I (BDMIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FRAMX

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

BDMIX

• 1D: 0.79%
• 1M: 2.45%
• 6M: 10.80%
• YTD: 12.92%
• 1Y: 24.55%
• 3Y*: 20.67%
• 5Y*: 13.32%
• 10Y*: 8.56%
• ALL TIME*: 6.93%

*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)
BDMIX BlackRock Global Equity Market Neutral Fund Class I	$0.00	$0.00	$0.00

FRAMX vs. BDMIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FRAMX Fidelity Advisor Managed Retirement Income Fund Class A	1,644,791.35%	9.55%	4.04%	7.80%	-11.87%	2.52%	8.30%	10.28%	-2.05%	6.82%
BDMIX BlackRock Global Equity Market Neutral Fund Class I	12.92%	18.30%	21.39%	14.55%	1.80%	3.34%	0.29%	-0.85%	2.20%	12.85%

Correlation

The correlation between FRAMX and BDMIX is 0.22, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.22
Correlation (3Y) Balances recent behavior with more history.	0.11
Correlation (5Y) Shows whether the relationship held over a longer period.	0.07
Correlation (10Y) Provides a long-term view across more market conditions.	0.04
Correlation (All Time) Calculated using the full available price history since Jan 2, 2013	0.09

The correlation between FRAMX and BDMIX shifts across timeframes, from 0.04 (10 years) to 0.22 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

FRAMX vs. BDMIX — Risk / Return Rank

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

FRAMX

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

BDMIX

BDMIX Risk / Return Rank: 98
BDMIX Sharpe Ratio Rank: 98
BDMIX Sortino Ratio Rank: 97
BDMIX Omega Ratio Rank: 96
BDMIX Calmar Ratio Rank: 98
BDMIX Martin Ratio Rank: 97

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.

FRAMX vs. BDMIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Managed Retirement Income Fund Class A (FRAMX) and BlackRock Global Equity Market Neutral Fund Class I (BDMIX). 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.

	FRAMX	BDMIX	Difference
Sharpe ratio: Return per unit of total volatility	—	3.32	—
Sortino ratio: Return per unit of downside risk	—	4.80	—
Omega ratio: Gain probability vs. loss probability	—	1.63	—
Calmar ratio: Return relative to maximum drawdown	—	7.60	—
Martin ratio: Return relative to average drawdown	—	20.19	—

Drawdowns

Drawdown Indicators

	FRAMX	BDMIX	Difference
Max Drawdown Largest peak-to-trough decline	—	-11.89%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-3.24%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-4.07%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-5.23%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-9.44%	—
Current Drawdown Current decline from peak	—	-0.28%	—
Average Drawdown Average peak-to-trough decline	—	-2.67%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.22%	—

Volatility

Volatility by Period

	FRAMX	BDMIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.61%	—
Volatility (6M) Calculated over the trailing 6-month period	—	5.41%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	7.42%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	6.68%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	5.91%	—

FRAMX vs. BDMIX - Expense Ratio Comparison

FRAMX has a 0.70% expense ratio, which is lower than BDMIX's 1.34% expense ratio.

Dividends

FRAMX vs. BDMIX - Dividend Comparison

FRAMX's dividend yield for the trailing twelve months is around 102.56%, more than BDMIX's 11.46% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BDMIX BlackRock Global Equity Market Neutral Fund Class I	11.46%	8.94%	13.26%	7.42%	0.00%	1.23%	0.30%	6.78%	0.94%	0.00%	0.00%	1.86%
FRAMX Fidelity Advisor Managed Retirement Income Fund Class A	102.56%	2.77%	2.77%	2.58%	4.26%	3.31%	2.23%	2.37%	4.40%	8.26%	1.42%	1.42%

Frequently Asked Questions

Can I hold both FRAMX and BDMIX in my portfolio?

FRAMX and BDMIX have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.