IRSVX vs. FRIMX

Last updated Jun 25, 2026

IRSVX (Voya Target Retirement 2055 Fund) and FRIMX (Fidelity Advisor Managed Retirement Income Fund Class I) are both Target Retirement Date funds. Over the past 10 years, IRSVX returned 12.22%/yr vs 4.26%/yr for FRIMX. A 0.77 correlation means they provide meaningful diversification when combined. IRSVX charges 0.24%/yr vs 0.45%/yr for FRIMX.

Performance

IRSVX vs. FRIMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Voya Target Retirement 2055 Fund (IRSVX) and Fidelity Advisor Managed Retirement Income Fund Class I (FRIMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IRSVX achieves a 10.59% return, which is significantly higher than FRIMX's 3.59% return. Over the past 10 years, IRSVX has outperformed FRIMX with an annualized return of 12.22%, while FRIMX has yielded a comparatively lower 4.26% annualized return.

IRSVX

• 1D: -1.98%
• 1M: -0.23%
• YTD: 10.59%
• 6M: 9.61%
• 1Y: 24.33%
• 3Y*: 19.04%
• 5Y*: 9.87%
• 10Y*: 12.22%

FRIMX

• 1D: 0.00%
• 1M: 0.65%
• YTD: 3.59%
• 6M: 3.41%
• 1Y: 8.60%
• 3Y*: 7.33%
• 5Y*: 2.73%
• 10Y*: 4.26%

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

IRSVX vs. FRIMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IRSVX Voya Target Retirement 2055 Fund	10.59%	20.81%	15.47%	20.55%	-18.81%	18.89%	17.53%	25.28%	-9.29%	21.17%
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 IRSVX and FRIMX is 0.73, 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	0.73
Correlation (3Y) Calculated over the trailing 3-year period	0.70
Correlation (5Y) Calculated over the trailing 5-year period	0.69
Correlation (10Y) Calculated over the trailing 10-year period	0.71
Correlation (All Time) Calculated using the full available price history since Dec 24, 2012	0.77

The correlation between IRSVX and FRIMX has been stable across timeframes, ranging from 0.69 to 0.77 - a consistent structural relationship.

Return for Risk

IRSVX vs. FRIMX — Risk / Return Rank

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

IRSVX

IRSVX Risk / Return Rank: 73
IRSVX Sharpe Ratio Rank: 71
IRSVX Sortino Ratio Rank: 70
IRSVX Omega Ratio Rank: 69
IRSVX Calmar Ratio Rank: 72
IRSVX Martin Ratio Rank: 84

FRIMX

FRIMX Risk / Return Rank: 64
FRIMX Sharpe Ratio Rank: 64
FRIMX Sortino Ratio Rank: 67
FRIMX Omega Ratio Rank: 73
FRIMX Calmar Ratio Rank: 55
FRIMX Martin Ratio Rank: 61

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.

IRSVX vs. FRIMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Voya Target Retirement 2055 Fund (IRSVX) 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.

	IRSVX	FRIMX	Difference
Sharpe ratio: Return per unit of total volatility	2.15	2.10	+0.05
Sortino ratio: Return per unit of downside risk	3.04	3.04	-0.01
Omega ratio: Gain probability vs. loss probability	1.40	1.43	-0.03
Calmar ratio: Return relative to maximum drawdown	2.98	2.65	+0.33
Martin ratio: Return relative to average drawdown	13.87	11.11	+2.76

IRSVX vs. FRIMX - Sharpe Ratio Comparison

The current IRSVX Sharpe Ratio is 2.15, which is comparable to the FRIMX Sharpe Ratio of 2.10. The chart below compares the historical Sharpe Ratios of IRSVX and FRIMX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

IRSVX vs. FRIMX - Drawdown Comparison

The maximum IRSVX drawdown since its inception was -33.36%, roughly equal to the maximum FRIMX drawdown of -33.73%. Use the drawdown chart below to compare losses from any high point for IRSVX and FRIMX.

Drawdown Indicators

	IRSVX	FRIMX	Difference
Max Drawdown Largest peak-to-trough decline	-33.36%	-33.73%	+0.37%
Max Drawdown (1Y) Largest decline over 1 year	-9.54%	-3.44%	-6.10%
Max Drawdown (3Y) Largest decline over 3 years	-16.04%	-4.97%	-11.07%
Max Drawdown (5Y) Largest decline over 5 years	-26.20%	-16.12%	-10.08%
Max Drawdown (10Y) Largest decline over 10 years	-33.36%	-16.12%	-17.24%
Current Drawdown Current decline from peak	-2.53%	-0.44%	-2.09%
Average Drawdown Average peak-to-trough decline	-4.51%	-3.70%	-0.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.97%	0.82%	+1.15%

Volatility

IRSVX vs. FRIMX - Volatility Comparison

Voya Target Retirement 2055 Fund (IRSVX) has a higher volatility of 5.32% compared to Fidelity Advisor Managed Retirement Income Fund Class I (FRIMX) at 1.67%. This indicates that IRSVX's price experiences larger fluctuations and is considered to be riskier than FRIMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IRSVX	FRIMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.32%	1.67%	+3.65%
Volatility (6M) Calculated over the trailing 6-month period	10.93%	3.67%	+7.26%
Volatility (1Y) Calculated over the trailing 1-year period	13.29%	4.35%	+8.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.57%	5.32%	+10.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.27%	4.52%	+11.75%

IRSVX vs. FRIMX - Expense Ratio Comparison

IRSVX has a 0.24% expense ratio, which is lower than FRIMX's 0.45% expense ratio.

Dividends

IRSVX vs. FRIMX - Dividend Comparison

IRSVX's dividend yield for the trailing twelve months is around 10.60%, more 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%
IRSVX Voya Target Retirement 2055 Fund	10.60%	11.72%	3.23%	1.83%	6.02%	23.53%	2.22%	6.32%	7.08%	5.90%	1.76%	0.43%

Frequently Asked Questions

Can I hold both IRSVX and FRIMX in my portfolio?

IRSVX and FRIMX have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IRSVX or FRIMX?

IRSVX has higher volatility (5.32%) compared to FRIMX (1.67%). In terms of maximum drawdown, IRSVX dropped -33.36% vs FRIMX's -33.73%.

Which has better risk-adjusted returns?

IRSVX currently has the higher Sharpe Ratio (2.15 vs 2.10), 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.