IRSOX vs. FRAMX
Compare and contrast key facts about Voya Target Retirement 2040 Fund (IRSOX) and Fidelity Advisor Managed Retirement Income Fund Class A (FRAMX).
IRSOX is managed by Voya. It was launched on Dec 19, 2012. FRAMX is managed by BlackRock. It was launched on Aug 30, 2007.
Performance
IRSOX vs. FRAMX - Performance Comparison
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IRSOX vs. FRAMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IRSOX Voya Target Retirement 2040 Fund | -1.30% | 19.10% | 13.74% | 19.25% | -18.43% | 17.65% | 16.93% | 23.69% | -8.31% | 20.15% |
FRAMX Fidelity Advisor Managed Retirement Income Fund Class A | 0.18% | 9.55% | 4.04% | 7.80% | -11.87% | 2.52% | 8.30% | 10.28% | -2.05% | 6.82% |
Returns By Period
In the year-to-date period, IRSOX achieves a -1.30% return, which is significantly lower than FRAMX's 0.18% return. Over the past 10 years, IRSOX has outperformed FRAMX with an annualized return of 10.10%, while FRAMX has yielded a comparatively lower 3.73% annualized return.
IRSOX
- 1D
- 2.49%
- 1M
- -5.17%
- YTD
- -1.30%
- 6M
- 1.32%
- 1Y
- 17.80%
- 3Y*
- 14.42%
- 5Y*
- 7.68%
- 10Y*
- 10.10%
FRAMX
- 1D
- 0.75%
- 1M
- -2.08%
- YTD
- 0.18%
- 6M
- 1.18%
- 1Y
- 7.30%
- 3Y*
- 5.92%
- 5Y*
- 2.18%
- 10Y*
- 3.73%
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IRSOX vs. FRAMX - Expense Ratio Comparison
IRSOX has a 0.23% expense ratio, which is lower than FRAMX's 0.70% expense ratio.
Return for Risk
IRSOX vs. FRAMX — Risk / Return Rank
IRSOX
FRAMX
IRSOX vs. FRAMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Voya Target Retirement 2040 Fund (IRSOX) and Fidelity Advisor Managed Retirement Income Fund Class A (FRAMX). 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.
| IRSOX | FRAMX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.36 | 1.64 | -0.28 |
Sortino ratioReturn per unit of downside risk | 2.00 | 2.30 | -0.30 |
Omega ratioGain probability vs. loss probability | 1.30 | 1.33 | -0.03 |
Calmar ratioReturn relative to maximum drawdown | 1.39 | 2.22 | -0.83 |
Martin ratioReturn relative to average drawdown | 6.68 | 8.81 | -2.13 |
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
| IRSOX | FRAMX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.36 | 1.64 | -0.28 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.57 | 0.42 | +0.15 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.69 | 0.84 | -0.14 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.69 | 0.50 | +0.19 |
Correlation
The correlation between IRSOX and FRAMX is 0.79, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
IRSOX vs. FRAMX - Dividend Comparison
IRSOX's dividend yield for the trailing twelve months is around 13.89%, more than FRAMX's 2.88% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IRSOX Voya Target Retirement 2040 Fund | 13.89% | 13.71% | 2.25% | 2.13% | 6.01% | 17.52% | 3.71% | 4.14% | 5.84% | 5.86% | 1.98% | 0.41% |
FRAMX Fidelity Advisor Managed Retirement Income Fund Class A | 2.88% | 2.77% | 2.77% | 2.58% | 4.26% | 3.31% | 2.23% | 2.37% | 4.40% | 8.26% | 1.42% | 1.42% |
Drawdowns
IRSOX vs. FRAMX - Drawdown Comparison
The maximum IRSOX drawdown since its inception was -31.25%, smaller than the maximum FRAMX drawdown of -33.94%. Use the drawdown chart below to compare losses from any high point for IRSOX and FRAMX.
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Drawdown Indicators
| IRSOX | FRAMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.25% | -33.94% | +2.69% |
Max Drawdown (1Y)Largest decline over 1 year | -10.16% | -3.45% | -6.71% |
Max Drawdown (5Y)Largest decline over 5 years | -25.24% | -16.31% | -8.93% |
Max Drawdown (10Y)Largest decline over 10 years | -31.25% | -16.31% | -14.94% |
Current DrawdownCurrent decline from peak | -6.10% | -2.47% | -3.63% |
Average DrawdownAverage peak-to-trough decline | -4.33% | -3.86% | -0.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.46% | 0.87% | +1.59% |
Volatility
IRSOX vs. FRAMX - Volatility Comparison
Voya Target Retirement 2040 Fund (IRSOX) has a higher volatility of 4.51% compared to Fidelity Advisor Managed Retirement Income Fund Class A (FRAMX) at 2.14%. This indicates that IRSOX's price experiences larger fluctuations and is considered to be riskier than FRAMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IRSOX | FRAMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.51% | 2.14% | +2.37% |
Volatility (6M)Calculated over the trailing 6-month period | 8.01% | 2.95% | +5.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.68% | 4.64% | +10.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.82% | 5.22% | +8.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.76% | 4.48% | +10.28% |