FRQIX vs. IRSQX

Last updated Jun 4, 2026

FRQIX (Fidelity Advisor Managed Retirement 2010 Fund Class I) and IRSQX (Voya Target Retirement 2050 Fund) are both Target Retirement Date funds. Over the past 10 years, FRQIX returned 4.98%/yr vs 11.97%/yr for IRSQX. Their correlation of 0.84 suggests significant overlap in exposure. FRQIX charges 0.46%/yr vs 0.22%/yr for IRSQX.

Performance

FRQIX vs. IRSQX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Managed Retirement 2010 Fund Class I (FRQIX) and Voya Target Retirement 2050 Fund (IRSQX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FRQIX achieves a 4.05% return, which is significantly lower than IRSQX's 13.02% return. Over the past 10 years, FRQIX has underperformed IRSQX with an annualized return of 4.98%, while IRSQX has yielded a comparatively higher 11.97% annualized return.

FRQIX

• 1D: 0.21%
• 1M: 1.53%
• YTD: 4.05%
• 6M: 4.28%
• 1Y: 10.42%
• 3Y*: 7.71%
• 5Y*: 2.92%
• 10Y*: 4.98%

IRSQX

• 1D: 0.40%
• 1M: 5.64%
• YTD: 13.02%
• 6M: 13.89%
• 1Y: 29.66%
• 3Y*: 20.11%
• 5Y*: 10.53%
• 10Y*: 11.97%

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

FRQIX vs. IRSQX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FRQIX Fidelity Advisor Managed Retirement 2010 Fund Class I	4.05%	9.97%	4.48%	8.52%	-12.39%	3.82%	9.58%	12.63%	-2.84%	10.64%
IRSQX Voya Target Retirement 2050 Fund	13.02%	20.71%	15.32%	20.47%	-18.75%	18.82%	17.28%	25.25%	-9.37%	20.99%

Correlation

The correlation between FRQIX and IRSQX is 0.72, 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	0.72
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	0.79
Correlation (All Time) Calculated using the full available price history since Dec 26, 2012	0.84

The correlation between FRQIX and IRSQX shifts across timeframes, from 0.72 (3 years) to 0.84 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FRQIX vs. IRSQX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FRQIX

FRQIX Risk / Return Rank: 72
FRQIX Sharpe Ratio Rank: 76
FRQIX Sortino Ratio Rank: 78
FRQIX Omega Ratio Rank: 77
FRQIX Calmar Ratio Rank: 63
FRQIX Martin Ratio Rank: 67

IRSQX

IRSQX Risk / Return Rank: 81
IRSQX Sharpe Ratio Rank: 83
IRSQX Sortino Ratio Rank: 81
IRSQX Omega Ratio Rank: 76
IRSQX Calmar Ratio Rank: 77
IRSQX Martin Ratio Rank: 87

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FRQIX vs. IRSQX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Managed Retirement 2010 Fund Class I (FRQIX) and Voya Target Retirement 2050 Fund (IRSQX). 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.

	FRQIX	IRSQX	Difference
Sharpe ratio: Return per unit of total volatility	2.53	2.71	-0.18
Sortino ratio: Return per unit of downside risk	3.73	3.87	-0.13
Omega ratio: Gain probability vs. loss probability	1.51	1.50	+0.01
Calmar ratio: Return relative to maximum drawdown	3.07	3.50	-0.43
Martin ratio: Return relative to average drawdown	13.08	16.89	-3.81
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FRQIX vs. IRSQX - Sharpe Ratio Comparison

The current FRQIX Sharpe Ratio is 2.53, which is comparable to the IRSQX Sharpe Ratio of 2.71. The chart below compares the historical Sharpe Ratios of FRQIX and IRSQX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FRQIX	IRSQX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.53	2.71	-0.18
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.53	0.70	-0.18
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.94	0.75	+0.19
Sharpe Ratio (All Time) Calculated using the full available price history	0.56	0.74	-0.18

Drawdowns

FRQIX vs. IRSQX - Drawdown Comparison

The maximum FRQIX drawdown since its inception was -38.01%, which is greater than IRSQX's maximum drawdown of -33.06%. Use the drawdown chart below to compare losses from any high point for FRQIX and IRSQX.

Drawdown Indicators

	FRQIX	IRSQX	Difference
Max Drawdown Largest peak-to-trough decline	-38.01%	-33.06%	-4.95%
Max Drawdown (1Y) Largest decline over 1 year	-3.43%	-9.42%	+5.99%
Max Drawdown (3Y) Largest decline over 3 years	-5.21%	-15.91%	+10.70%
Max Drawdown (5Y) Largest decline over 5 years	-17.04%	-26.14%	+9.10%
Max Drawdown (10Y) Largest decline over 10 years	-17.04%	-33.06%	+16.02%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-4.43%	-4.49%	+0.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.80%	1.88%	-1.08%

Volatility

FRQIX vs. IRSQX - Volatility Comparison

The current volatility for Fidelity Advisor Managed Retirement 2010 Fund Class I (FRQIX) is 1.66%, while Voya Target Retirement 2050 Fund (IRSQX) has a volatility of 3.67%. This indicates that FRQIX experiences smaller price fluctuations and is considered to be less risky than IRSQX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FRQIX	IRSQX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.66%	3.67%	-2.01%
Volatility (6M) Calculated over the trailing 6-month period	3.42%	9.96%	-6.54%
Volatility (1Y) Calculated over the trailing 1-year period	4.15%	12.17%	-8.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.57%	15.30%	-9.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.33%	16.15%	-10.82%

FRQIX vs. IRSQX - Expense Ratio Comparison

FRQIX has a 0.46% expense ratio, which is higher than IRSQX's 0.22% expense ratio.

Dividends

FRQIX vs. IRSQX - Dividend Comparison

FRQIX's dividend yield for the trailing twelve months is around 3.04%, less than IRSQX's 14.10% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FRQIX Fidelity Advisor Managed Retirement 2010 Fund Class I	3.04%	3.14%	2.97%	2.75%	5.01%	6.00%	3.51%	3.14%	5.60%	16.32%	2.43%	4.08%
IRSQX Voya Target Retirement 2050 Fund	14.10%	15.94%	1.93%	1.89%	6.50%	20.41%	2.18%	4.80%	7.33%	6.29%	1.94%	0.44%

Frequently Asked Questions

Can I hold both FRQIX and IRSQX in my portfolio?

FRQIX and IRSQX have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FRQIX or IRSQX?

IRSQX has higher volatility (3.67%) compared to FRQIX (1.66%). In terms of maximum drawdown, FRQIX dropped -38.01% vs IRSQX's -33.06%.

Which has better risk-adjusted returns?

IRSQX currently has the higher Sharpe Ratio (2.71 vs 2.53), 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.