PAFMX vs. FRIMX
Compare and contrast key facts about Putnam Retirement Advantage 2045 Fund (PAFMX) and Fidelity Advisor Managed Retirement Income Fund Class I (FRIMX).
PAFMX is managed by Putnam. It was launched on Dec 30, 2019. FRIMX is managed by BlackRock. It was launched on Aug 30, 2007.
Performance
PAFMX vs. FRIMX - Performance Comparison
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PAFMX vs. FRIMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
PAFMX Putnam Retirement Advantage 2045 Fund | -1.40% | 18.27% | 15.76% | 25.02% | -16.53% | 17.61% | 14.31% |
FRIMX Fidelity Advisor Managed Retirement Income Fund Class I | 0.24% | 9.94% | 4.30% | 8.06% | -11.66% | 2.78% | 8.18% |
Returns By Period
In the year-to-date period, PAFMX achieves a -1.40% return, which is significantly lower than FRIMX's 0.24% return.
PAFMX
- 1D
- 2.31%
- 1M
- -4.24%
- YTD
- -1.40%
- 6M
- 1.08%
- 1Y
- 17.74%
- 3Y*
- 16.75%
- 5Y*
- 9.33%
- 10Y*
- —
FRIMX
- 1D
- 0.75%
- 1M
- -2.07%
- YTD
- 0.24%
- 6M
- 1.30%
- 1Y
- 7.57%
- 3Y*
- 6.23%
- 5Y*
- 2.46%
- 10Y*
- 4.00%
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PAFMX vs. FRIMX - Expense Ratio Comparison
Both PAFMX and FRIMX have an expense ratio of 0.45%.
Return for Risk
PAFMX vs. FRIMX — Risk / Return Rank
PAFMX
FRIMX
PAFMX vs. FRIMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Putnam Retirement Advantage 2045 Fund (PAFMX) 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.
| PAFMX | FRIMX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.32 | 1.70 | -0.38 |
Sortino ratioReturn per unit of downside risk | 1.91 | 2.38 | -0.47 |
Omega ratioGain probability vs. loss probability | 1.29 | 1.34 | -0.05 |
Calmar ratioReturn relative to maximum drawdown | 1.87 | 2.31 | -0.44 |
Martin ratioReturn relative to average drawdown | 9.11 | 9.18 | -0.08 |
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
| PAFMX | FRIMX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.32 | 1.70 | -0.38 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.71 | 0.47 | +0.23 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.90 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.68 | 0.53 | +0.15 |
Correlation
The correlation between PAFMX and FRIMX is 0.72, 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
PAFMX vs. FRIMX - Dividend Comparison
PAFMX's dividend yield for the trailing twelve months is around 11.99%, more than FRIMX's 3.13% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PAFMX Putnam Retirement Advantage 2045 Fund | 11.99% | 11.82% | 5.67% | 2.72% | 12.24% | 15.59% | 1.22% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
FRIMX Fidelity Advisor Managed Retirement Income Fund Class I | 3.13% | 3.11% | 3.01% | 2.82% | 4.52% | 3.54% | 2.41% | 2.56% | 4.67% | 8.56% | 1.67% | 1.68% |
Drawdowns
PAFMX vs. FRIMX - Drawdown Comparison
The maximum PAFMX drawdown since its inception was -29.22%, smaller than the maximum FRIMX drawdown of -33.73%. Use the drawdown chart below to compare losses from any high point for PAFMX and FRIMX.
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Drawdown Indicators
| PAFMX | FRIMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.22% | -33.73% | +4.51% |
Max Drawdown (1Y)Largest decline over 1 year | -9.82% | -3.44% | -6.38% |
Max Drawdown (5Y)Largest decline over 5 years | -22.63% | -16.12% | -6.51% |
Max Drawdown (10Y)Largest decline over 10 years | — | -16.12% | — |
Current DrawdownCurrent decline from peak | -5.08% | -2.46% | -2.62% |
Average DrawdownAverage peak-to-trough decline | -5.24% | -3.74% | -1.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.02% | 0.86% | +1.16% |
Volatility
PAFMX vs. FRIMX - Volatility Comparison
Putnam Retirement Advantage 2045 Fund (PAFMX) has a higher volatility of 4.70% compared to Fidelity Advisor Managed Retirement Income Fund Class I (FRIMX) at 2.13%. This indicates that PAFMX'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.
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Volatility by Period
| PAFMX | FRIMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.70% | 2.13% | +2.57% |
Volatility (6M)Calculated over the trailing 6-month period | 7.80% | 2.95% | +4.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.84% | 4.64% | +9.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.26% | 5.23% | +8.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.88% | 4.48% | +11.40% |