FRAMX vs. VTMFX
FRAMX (Fidelity Advisor Managed Retirement Income Fund Class A) and VTMFX (Vanguard Tax-Managed Balanced Fund Admiral Shares) are both mutual funds - FRAMX is a Target Retirement Date fund managed by BlackRock, while VTMFX is a Diversified Portfolio fund managed by BlackRock. Over the past 10 years, FRAMX returned 3.94%/yr vs 8.70%/yr for VTMFX. Their correlation of 0.84 suggests significant overlap in exposure. FRAMX charges 0.70%/yr vs 0.09%/yr for VTMFX.
Performance
FRAMX vs. VTMFX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, FRAMX achieves a 3.94% return, which is significantly lower than VTMFX's 6.03% return. Over the past 10 years, FRAMX has underperformed VTMFX with an annualized return of 3.94%, while VTMFX has yielded a comparatively higher 8.70% annualized return.
FRAMX
- 1D
- 0.21%
- 1M
- 1.52%
- YTD
- 3.94%
- 6M
- 4.15%
- 1Y
- 10.14%
- 3Y*
- 7.28%
- 5Y*
- 2.63%
- 10Y*
- 3.94%
VTMFX
- 1D
- 0.17%
- 1M
- 3.06%
- YTD
- 6.03%
- 6M
- 6.16%
- 1Y
- 16.91%
- 3Y*
- 12.75%
- 5Y*
- 7.33%
- 10Y*
- 8.70%
FRAMX vs. VTMFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FRAMX Fidelity Advisor Managed Retirement Income Fund Class A | 3.94% | 9.55% | 4.04% | 7.80% | -11.87% | 2.52% | 8.30% | 10.28% | -2.05% | 6.82% |
VTMFX Vanguard Tax-Managed Balanced Fund Admiral Shares | 6.03% | 11.28% | 12.17% | 15.55% | -12.69% | 13.10% | 13.31% | 18.01% | -1.40% | 12.61% |
Correlation
The correlation between FRAMX and VTMFX is 0.77, 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 | 0.77 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.68 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.70 |
Correlation (All Time) Calculated using the full available price history since Aug 31, 2007 | 0.84 |
The correlation between FRAMX and VTMFX shifts across timeframes, from 0.68 (5 years) to 0.84 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
FRAMX vs. VTMFX — Risk / Return Rank
FRAMX
VTMFX
FRAMX vs. VTMFX - 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 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.
| FRAMX | VTMFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.37 | ||
| Sortino ratioReturn per unit of downside risk | -0.43 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 1.55 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.96 | 3.22 | -0.26 |
| Martin ratioReturn relative to average drawdown | 12.58 | 15.40 | -2.82 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| FRAMX | VTMFX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.46 | 2.83 | -0.37 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.50 | 0.86 | -0.36 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.88 | 0.96 | -0.08 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.52 | 0.85 | -0.32 |
Drawdowns
FRAMX vs. VTMFX - Drawdown Comparison
The maximum FRAMX drawdown since its inception was -33.94%, which is greater than VTMFX's maximum drawdown of -28.49%. Use the drawdown chart below to compare losses from any high point for FRAMX and VTMFX.
Loading charts...
Drawdown Indicators
| FRAMX | VTMFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.94% | -28.49% | -5.45% |
Max Drawdown (1Y)Largest decline over 1 year | -3.45% | -5.38% | +1.93% |
Max Drawdown (3Y)Largest decline over 3 years | -5.02% | -10.61% | +5.59% |
Max Drawdown (5Y)Largest decline over 5 years | -16.31% | -17.40% | +1.09% |
Max Drawdown (10Y)Largest decline over 10 years | -16.31% | -21.87% | +5.56% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -3.83% | -3.55% | -0.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.81% | 1.12% | -0.31% |
Volatility
FRAMX vs. VTMFX - Volatility Comparison
Fidelity Advisor Managed Retirement Income Fund Class A (FRAMX) and Vanguard Tax-Managed Balanced Fund Admiral Shares (VTMFX) have volatilities of 1.67% and 1.70%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| FRAMX | VTMFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.67% | 1.70% | -0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 3.43% | 4.75% | -1.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.16% | 6.13% | -1.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.28% | 8.52% | -3.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.52% | 9.12% | -4.60% |
FRAMX vs. VTMFX - Expense Ratio Comparison
FRAMX has a 0.70% expense ratio, which is higher than VTMFX's 0.09% expense ratio.
Dividends
FRAMX vs. VTMFX - Dividend Comparison
FRAMX's dividend yield for the trailing twelve months is around 2.84%, more than VTMFX's 2.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FRAMX Fidelity Advisor Managed Retirement Income Fund Class A | 2.84% | 2.77% | 2.77% | 2.58% | 4.26% | 3.31% | 2.23% | 2.37% | 4.40% | 8.26% | 1.42% | 1.42% |
VTMFX Vanguard Tax-Managed Balanced Fund Admiral Shares | 2.10% | 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
FRAMX and VTMFX have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VTMFX has higher volatility (1.70%) compared to FRAMX (1.67%). In terms of maximum drawdown, FRAMX dropped -33.94% vs VTMFX's -28.49%.
VTMFX currently has the higher Sharpe Ratio (2.83 vs 2.46), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
Find the right allocation for FRAMX and VTMFX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer