FRIMX vs. TCLEX
FRIMX (Fidelity Advisor Managed Retirement Income Fund Class I) and TCLEX (TIAA-CREF Lifecycle 2010 Fund) are both Target Retirement Date funds. Over the past 10 years, FRIMX returned 4.19%/yr vs 5.93%/yr for TCLEX. Their correlation of 0.93 suggests significant overlap in exposure. FRIMX charges 0.45%/yr vs 0.51%/yr for TCLEX.
Performance
FRIMX vs. TCLEX - Performance Comparison
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Returns By Period
In the year-to-date period, FRIMX achieves a 3.59% return, which is significantly lower than TCLEX's 4.31% return. Over the past 10 years, FRIMX has underperformed TCLEX with an annualized return of 4.19%, while TCLEX has yielded a comparatively higher 5.93% annualized return.
FRIMX
- 1D
- 0.00%
- 1M
- 0.65%
- YTD
- 3.59%
- 6M
- 3.72%
- 1Y
- 9.38%
- 3Y*
- 7.18%
- 5Y*
- 2.79%
- 10Y*
- 4.19%
TCLEX
- 1D
- 0.50%
- 1M
- 1.15%
- YTD
- 4.31%
- 6M
- 4.39%
- 1Y
- 11.97%
- 3Y*
- 9.19%
- 5Y*
- 4.34%
- 10Y*
- 5.93%
FRIMX vs. TCLEX - 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% |
TCLEX TIAA-CREF Lifecycle 2010 Fund | 4.31% | 11.22% | 7.31% | 10.64% | -12.64% | 6.62% | 10.95% | 15.14% | -4.14% | 9.99% |
Correlation
The correlation between FRIMX and TCLEX is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.90 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.89 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Aug 30, 2007 | 0.93 |
The correlation between FRIMX and TCLEX has been stable across timeframes, ranging from 0.87 to 0.93 - a consistent structural relationship.
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Return for Risk
FRIMX vs. TCLEX — Risk / Return Rank
FRIMX
TCLEX
FRIMX vs. TCLEX - 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 TIAA-CREF Lifecycle 2010 Fund (TCLEX). 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 | TCLEX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.07 | ||
| Sortino ratioReturn per unit of downside risk | -0.14 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.43 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.74 | 2.80 | -0.06 |
| Martin ratioReturn relative to average drawdown | 11.47 | 12.22 | -0.75 |
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Drawdowns
FRIMX vs. TCLEX - Drawdown Comparison
The maximum FRIMX drawdown since its inception was -33.73%, roughly equal to the maximum TCLEX drawdown of -35.33%. Use the drawdown chart below to compare losses from any high point for FRIMX and TCLEX.
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Drawdown Indicators
| FRIMX | TCLEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.73% | -35.33% | +1.60% |
Max Drawdown (1Y)Largest decline over 1 year | -3.44% | -4.28% | +0.84% |
Max Drawdown (3Y)Largest decline over 3 years | -4.97% | -8.25% | +3.28% |
Max Drawdown (5Y)Largest decline over 5 years | -16.12% | -17.31% | +1.19% |
Max Drawdown (10Y)Largest decline over 10 years | -16.12% | -17.31% | +1.19% |
Current DrawdownCurrent decline from peak | -0.44% | -0.07% | -0.37% |
Average DrawdownAverage peak-to-trough decline | -3.70% | -3.98% | +0.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.82% | 0.98% | -0.16% |
Volatility
FRIMX vs. TCLEX - Volatility Comparison
The current volatility for Fidelity Advisor Managed Retirement Income Fund Class I (FRIMX) is 1.77%, while TIAA-CREF Lifecycle 2010 Fund (TCLEX) has a volatility of 2.13%. This indicates that FRIMX experiences smaller price fluctuations and is considered to be less risky than TCLEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FRIMX | TCLEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.77% | 2.13% | -0.36% |
Volatility (6M)Calculated over the trailing 6-month period | 3.68% | 4.46% | -0.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.35% | 5.37% | -1.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.32% | 6.94% | -1.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.54% | 7.02% | -2.48% |
FRIMX vs. TCLEX - Expense Ratio Comparison
FRIMX has a 0.45% expense ratio, which is lower than TCLEX's 0.51% expense ratio.
Dividends
FRIMX vs. TCLEX - Dividend Comparison
FRIMX's dividend yield for the trailing twelve months is around 3.24%, less than TCLEX's 5.11% 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% |
TCLEX TIAA-CREF Lifecycle 2010 Fund | 5.11% | 5.33% | 4.44% | 2.95% | 5.91% | 8.53% | 6.93% | 3.95% | 5.60% | 1.72% | 3.45% | 2.47% |
Frequently Asked Questions
With a correlation of 0.91, FRIMX and TCLEX 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.
TCLEX has higher volatility (2.13%) compared to FRIMX (1.77%). In terms of maximum drawdown, FRIMX dropped -33.73% vs TCLEX's -35.33%.
TCLEX currently has the higher Sharpe Ratio (2.23 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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