FRQAX vs. FRIMX
FRQAX (Fidelity Advisor Managed Retirement 2010 Fund Class A) and FRIMX (Fidelity Advisor Managed Retirement Income Fund Class I) are both Target Retirement Date funds from BlackRock. Over the past 10 years, FRQAX returned 4.76%/yr vs 4.21%/yr for FRIMX. With a 0.99 correlation, they move nearly in lockstep. FRQAX charges 0.71%/yr vs 0.45%/yr for FRIMX.
Performance
FRQAX vs. FRIMX - Performance Comparison
Loading charts...
Returns By Period
The year-to-date returns for both investments are quite close, with FRQAX having a 3.51% return and FRIMX slightly higher at 3.59%. Over the past 10 years, FRQAX has outperformed FRIMX with an annualized return of 4.76%, while FRIMX has yielded a comparatively lower 4.21% annualized return.
FRQAX
- 1D
- 0.00%
- 1M
- 1.15%
- YTD
- 3.51%
- 6M
- 4.08%
- 1Y
- 9.20%
- 3Y*
- 6.96%
- 5Y*
- 2.52%
- 10Y*
- 4.76%
FRIMX
- 1D
- 0.00%
- 1M
- 1.15%
- YTD
- 3.59%
- 6M
- 4.18%
- 1Y
- 9.42%
- 3Y*
- 7.18%
- 5Y*
- 2.78%
- 10Y*
- 4.21%
FRQAX vs. FRIMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FRQAX Fidelity Advisor Managed Retirement 2010 Fund Class A | 3.51% | 9.54% | 4.21% | 8.24% | -12.60% | 3.56% | 9.32% | 12.33% | -3.06% | 10.34% |
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% |
Correlation
The correlation between FRQAX and FRIMX 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 FRQAX and FRIMX has been stable across timeframes, ranging from 0.98 to 1.00 - a consistent structural relationship.
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
FRQAX vs. FRIMX — Risk / Return Rank
FRQAX
FRIMX
FRQAX vs. FRIMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Managed Retirement 2010 Fund Class A (FRQAX) and Fidelity Advisor Managed Retirement Income Fund Class I (FRIMX). 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.
| FRQAX | FRIMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.06 | ||
| Sortino ratioReturn per unit of downside risk | -0.09 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.44 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.67 | 2.76 | -0.09 |
| Martin ratioReturn relative to average drawdown | 11.15 | 11.58 | -0.43 |
Loading charts...
Drawdowns
FRQAX vs. FRIMX - Drawdown Comparison
The maximum FRQAX drawdown since its inception was -38.22%, which is greater than FRIMX's maximum drawdown of -33.73%. Use the drawdown chart below to compare losses from any high point for FRQAX and FRIMX.
Loading charts...
Drawdown Indicators
| FRQAX | FRIMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.22% | -33.73% | -4.49% |
Max Drawdown (1Y)Largest decline over 1 year | -3.46% | -3.44% | -0.02% |
Max Drawdown (3Y)Largest decline over 3 years | -5.27% | -4.97% | -0.30% |
Max Drawdown (5Y)Largest decline over 5 years | -17.24% | -16.12% | -1.12% |
Max Drawdown (10Y)Largest decline over 10 years | -17.24% | -16.12% | -1.12% |
Current DrawdownCurrent decline from peak | -0.43% | -0.44% | +0.01% |
Average DrawdownAverage peak-to-trough decline | -4.57% | -3.70% | -0.87% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.83% | 0.82% | +0.01% |
Volatility
FRQAX vs. FRIMX - Volatility Comparison
Fidelity Advisor Managed Retirement 2010 Fund Class A (FRQAX) and Fidelity Advisor Managed Retirement Income Fund Class I (FRIMX) have volatilities of 1.82% and 1.82%, 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
| FRQAX | FRIMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.82% | 1.82% | 0.00% |
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 | 5.59% | 5.32% | +0.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.34% | 4.54% | +0.80% |
FRQAX vs. FRIMX - Expense Ratio Comparison
FRQAX has a 0.71% expense ratio, which is higher than FRIMX's 0.45% expense ratio.
Dividends
FRQAX vs. FRIMX - Dividend Comparison
FRQAX's dividend yield for the trailing twelve months is around 2.99%, less than FRIMX's 3.24% 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% |
FRQAX Fidelity Advisor Managed Retirement 2010 Fund Class A | 2.99% | 2.72% | 2.71% | 2.46% | 4.74% | 5.76% | 3.26% | 2.93% | 5.33% | 16.05% | 2.18% | 3.81% |
Frequently Asked Questions
With a correlation of 1.00, FRQAX and FRIMX 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.
FRIMX has higher volatility (1.82%) compared to FRQAX (1.82%). In terms of maximum drawdown, FRQAX dropped -38.22% vs FRIMX's -33.73%.
FRIMX currently has the higher Sharpe Ratio (2.18 vs 2.12), 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 FRQAX and FRIMX
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