FRQAX vs. VTMFX
FRQAX (Fidelity Advisor Managed Retirement 2010 Fund Class A) and VTMFX (Vanguard Tax-Managed Balanced Fund Admiral Shares) are both mutual funds - FRQAX is a Target Retirement Date fund managed by BlackRock, while VTMFX is a Diversified Portfolio fund managed by BlackRock. Over the past 10 years, FRQAX returned 4.67%/yr vs 8.66%/yr for VTMFX. Their correlation of 0.87 suggests significant overlap in exposure. FRQAX charges 0.71%/yr vs 0.09%/yr for VTMFX.
Performance
FRQAX vs. VTMFX - Performance Comparison
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Returns By Period
In the year-to-date period, FRQAX achieves a 3.69% return, which is significantly lower than VTMFX's 5.64% return. Over the past 10 years, FRQAX has underperformed VTMFX with an annualized return of 4.67%, while VTMFX has yielded a comparatively higher 8.66% annualized return.
FRQAX
- 1D
- -0.26%
- 1M
- 0.97%
- YTD
- 3.69%
- 6M
- 3.95%
- 1Y
- 9.39%
- 3Y*
- 7.30%
- 5Y*
- 2.49%
- 10Y*
- 4.67%
VTMFX
- 1D
- -0.37%
- 1M
- 2.26%
- YTD
- 5.64%
- 6M
- 5.70%
- 1Y
- 16.33%
- 3Y*
- 12.61%
- 5Y*
- 7.15%
- 10Y*
- 8.66%
FRQAX vs. VTMFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FRQAX Fidelity Advisor Managed Retirement 2010 Fund Class A | 3.69% | 9.54% | 4.21% | 8.24% | -12.60% | 3.56% | 9.32% | 12.33% | -3.06% | 10.34% |
VTMFX Vanguard Tax-Managed Balanced Fund Admiral Shares | 5.64% | 11.28% | 12.17% | 15.55% | -12.69% | 13.10% | 13.31% | 18.01% | -1.40% | 12.61% |
Correlation
The correlation between FRQAX and VTMFX is 0.78, 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 | 0.78 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.72 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.72 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.77 |
Correlation (All Time) Calculated using the full available price history since Aug 31, 2007 | 0.87 |
The correlation between FRQAX and VTMFX shifts across timeframes, from 0.72 (3 years) to 0.87 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
FRQAX vs. VTMFX — Risk / Return Rank
FRQAX
VTMFX
FRQAX vs. VTMFX - 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 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.
| FRQAX | VTMFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.32 | ||
| Sortino ratioReturn per unit of downside risk | -0.37 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.52 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.86 | 3.08 | -0.21 |
| Martin ratioReturn relative to average drawdown | 12.17 | 14.71 | -2.55 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FRQAX | VTMFX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.38 | 2.70 | -0.32 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.45 | 0.84 | -0.39 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.88 | 0.95 | -0.07 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.50 | 0.84 | -0.34 |
Drawdowns
FRQAX vs. VTMFX - Drawdown Comparison
The maximum FRQAX drawdown since its inception was -38.22%, which is greater than VTMFX's maximum drawdown of -28.49%. Use the drawdown chart below to compare losses from any high point for FRQAX and VTMFX.
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Drawdown Indicators
| FRQAX | VTMFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.22% | -28.49% | -9.73% |
Max Drawdown (1Y)Largest decline over 1 year | -3.46% | -5.38% | +1.92% |
Max Drawdown (3Y)Largest decline over 3 years | -5.27% | -10.61% | +5.34% |
Max Drawdown (5Y)Largest decline over 5 years | -17.24% | -17.40% | +0.16% |
Max Drawdown (10Y)Largest decline over 10 years | -17.24% | -21.87% | +4.63% |
Current DrawdownCurrent decline from peak | -0.26% | -0.37% | +0.11% |
Average DrawdownAverage peak-to-trough decline | -4.57% | -3.55% | -1.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.81% | 1.12% | -0.31% |
Volatility
FRQAX vs. VTMFX - Volatility Comparison
Fidelity Advisor Managed Retirement 2010 Fund Class A (FRQAX) and Vanguard Tax-Managed Balanced Fund Admiral Shares (VTMFX) have volatilities of 1.68% and 1.74%, 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
| FRQAX | VTMFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.68% | 1.74% | -0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 3.42% | 4.76% | -1.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.16% | 6.14% | -1.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.56% | 8.52% | -2.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.33% | 9.12% | -3.79% |
FRQAX vs. VTMFX - Expense Ratio Comparison
FRQAX has a 0.71% expense ratio, which is higher than VTMFX's 0.09% expense ratio.
Dividends
FRQAX vs. VTMFX - Dividend Comparison
FRQAX's dividend yield for the trailing twelve months is around 2.83%, more than VTMFX's 2.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FRQAX Fidelity Advisor Managed Retirement 2010 Fund Class A | 2.83% | 2.72% | 2.71% | 2.46% | 4.74% | 5.76% | 3.26% | 2.93% | 5.33% | 16.05% | 2.18% | 3.81% |
VTMFX Vanguard Tax-Managed Balanced Fund Admiral Shares | 2.11% | 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
FRQAX and VTMFX have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VTMFX has higher volatility (1.74%) compared to FRQAX (1.68%). In terms of maximum drawdown, FRQAX dropped -38.22% vs VTMFX's -28.49%.
VTMFX currently has the higher Sharpe Ratio (2.70 vs 2.38), 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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