FRIMX vs. FRQIX
FRIMX (Fidelity Advisor Managed Retirement Income Fund Class I) and FRQIX (Fidelity Advisor Managed Retirement 2010 Fund Class I) are both Target Retirement Date funds from BlackRock. Over the past 10 years, FRIMX returned 4.19%/yr vs 4.98%/yr for FRQIX. With a 0.99 correlation, they move nearly in lockstep. FRIMX charges 0.45%/yr vs 0.46%/yr for FRQIX.
Performance
FRIMX vs. FRQIX - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with FRIMX having a 3.59% return and FRQIX slightly higher at 3.60%. Over the past 10 years, FRIMX has underperformed FRQIX with an annualized return of 4.19%, while FRQIX has yielded a comparatively higher 4.98% annualized return.
FRIMX
- 1D
- 0.00%
- 1M
- 0.68%
- YTD
- 3.59%
- 6M
- 3.81%
- 1Y
- 9.38%
- 3Y*
- 7.18%
- 5Y*
- 2.79%
- 10Y*
- 4.19%
FRQIX
- 1D
- 0.00%
- 1M
- 0.70%
- YTD
- 3.60%
- 6M
- 3.83%
- 1Y
- 9.41%
- 3Y*
- 7.28%
- 5Y*
- 2.83%
- 10Y*
- 4.98%
FRIMX vs. FRQIX - 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% |
FRQIX Fidelity Advisor Managed Retirement 2010 Fund Class I | 3.60% | 9.97% | 4.48% | 8.52% | -12.39% | 3.82% | 9.58% | 12.63% | -2.84% | 10.64% |
Correlation
The correlation between FRIMX and FRQIX is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 1.00 |
Correlation (3Y) Calculated over the trailing 3-year period | 1.00 |
Correlation (5Y) Calculated over the trailing 5-year period | 1.00 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.98 |
Correlation (All Time) Calculated using the full available price history since Aug 30, 2007 | 0.99 |
The correlation between FRIMX and FRQIX has been stable across timeframes, ranging from 0.98 to 1.00 - a consistent structural relationship.
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Return for Risk
FRIMX vs. FRQIX — Risk / Return Rank
FRIMX
FRQIX
FRIMX vs. FRQIX - 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 2010 Fund Class I (FRQIX). 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.
| FRIMX | FRQIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | 0.00 | ||
| Sortino ratioReturn per unit of downside risk | -0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.44 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.74 | 2.75 | -0.01 |
| Martin ratioReturn relative to average drawdown | 11.47 | 11.51 | -0.04 |
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Drawdowns
FRIMX vs. FRQIX - Drawdown Comparison
The maximum FRIMX drawdown since its inception was -33.73%, smaller than the maximum FRQIX drawdown of -38.01%. Use the drawdown chart below to compare losses from any high point for FRIMX and FRQIX.
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Drawdown Indicators
| FRIMX | FRQIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.73% | -38.01% | +4.28% |
Max Drawdown (1Y)Largest decline over 1 year | -3.44% | -3.43% | -0.01% |
Max Drawdown (3Y)Largest decline over 3 years | -4.97% | -5.21% | +0.24% |
Max Drawdown (5Y)Largest decline over 5 years | -16.12% | -17.04% | +0.92% |
Max Drawdown (10Y)Largest decline over 10 years | -16.12% | -17.04% | +0.92% |
Current DrawdownCurrent decline from peak | -0.44% | -0.42% | -0.02% |
Average DrawdownAverage peak-to-trough decline | -3.70% | -4.42% | +0.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.82% | 0.82% | 0.00% |
Volatility
FRIMX vs. FRQIX - Volatility Comparison
Fidelity Advisor Managed Retirement Income Fund Class I (FRIMX) and Fidelity Advisor Managed Retirement 2010 Fund Class I (FRQIX) have volatilities of 1.77% and 1.78%, 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.
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Volatility by Period
| FRIMX | FRQIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.77% | 1.78% | -0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 3.68% | 3.68% | 0.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.35% | 4.35% | 0.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.32% | 5.60% | -0.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.54% | 5.34% | -0.80% |
FRIMX vs. FRQIX - Expense Ratio Comparison
FRIMX has a 0.45% expense ratio, which is lower than FRQIX's 0.46% expense ratio.
Dividends
FRIMX vs. FRQIX - Dividend Comparison
FRIMX's dividend yield for the trailing twelve months is around 3.24%, which matches FRQIX's 3.22% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FRIMX Fidelity Advisor Managed Retirement Income Fund Class I | 3.24% | 3.11% | 3.01% | 2.82% | 4.52% | 3.54% | 2.41% | 2.56% | 4.67% | 8.56% | 1.67% | 1.68% |
FRQIX Fidelity Advisor Managed Retirement 2010 Fund Class I | 3.22% | 3.14% | 2.97% | 2.75% | 5.01% | 6.00% | 3.51% | 3.14% | 5.60% | 16.32% | 2.43% | 4.08% |
Frequently Asked Questions
With a correlation of 1.00, FRIMX and FRQIX 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.
FRQIX has higher volatility (1.78%) compared to FRIMX (1.77%). In terms of maximum drawdown, FRIMX dropped -33.73% vs FRQIX's -38.01%.
FRQIX currently has the higher Sharpe Ratio (2.16 vs 2.16), 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.
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