FRIMX vs. FIRFX

Last updated Aug 5, 2026

FRIMX (Fidelity Advisor Managed Retirement Income Fund Class I) and FIRFX (Fidelity Advisor Managed Retirement 2025 Fund Class I) are both Target Retirement Date funds from BlackRock. Their 0.95 correlation means they have historically moved very closely together. FRIMX charges 0.45%/yr vs 0.48%/yr for FIRFX.

Performance

FRIMX vs. FIRFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Managed Retirement Income Fund Class I (FRIMX) and Fidelity Advisor Managed Retirement 2025 Fund Class I (FIRFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FRIMX

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

FIRFX

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

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

FRIMX vs. FIRFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FRIMX Fidelity Advisor Managed Retirement Income Fund Class I	3.59%	9.94%	4.30%	8.06%	-11.66%	2.78%	8.57%	10.57%	-1.82%	7.08%
FIRFX Fidelity Advisor Managed Retirement 2025 Fund Class I	4.52%	13.43%	6.55%	11.83%	-15.66%	8.02%	13.09%	17.53%	-5.07%	14.27%

Correlation

The correlation between FRIMX and FIRFX is 0.95, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.95
Correlation (3Y) Balances recent behavior with more history.	0.95
Correlation (5Y) Shows whether the relationship held over a longer period.	0.93
Correlation (10Y) Provides a long-term view across more market conditions.	0.91
Correlation (All Time) Calculated using the full available price history since Dec 31, 2007	0.95

The correlation between FRIMX and FIRFX has been stable across timeframes, ranging from 0.91 to 0.95 - a consistent structural relationship.

Return for Risk

FRIMX vs. FIRFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Managed Retirement Income Fund Class I (FRIMX) and Fidelity Advisor Managed Retirement 2025 Fund Class I (FIRFX). 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.

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

Drawdowns

Volatility

FRIMX vs. FIRFX - Expense Ratio Comparison

FRIMX has a 0.45% expense ratio, which is lower than FIRFX's 0.48% expense ratio.

Dividends

FRIMX vs. FIRFX - Dividend Comparison

FRIMX's dividend yield for the trailing twelve months is around 2.80%, less than FIRFX's 3.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIRFX Fidelity Advisor Managed Retirement 2025 Fund Class I	3.36%	2.66%	2.56%	2.43%	4.63%	5.08%	3.57%	3.80%	7.10%	24.68%	2.44%	4.49%
FRIMX Fidelity Advisor Managed Retirement Income Fund Class I	2.80%	3.11%	3.01%	2.82%	4.52%	3.54%	2.41%	2.56%	4.67%	8.56%	1.67%	1.68%

Frequently Asked Questions

Can I hold both FRIMX and FIRFX in my portfolio?

With a correlation of 0.95, FRIMX and FIRFX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.