PAOFX vs. FRHMX
Compare and contrast key facts about T. Rowe Price Target 2050 Fund (PAOFX) and Fidelity Managed Retirement Income Fund Class K6 (FRHMX).
PAOFX is managed by T. Rowe Price. It was launched on Aug 19, 2013. FRHMX is managed by BlackRock. It was launched on Aug 1, 2019.
Performance
PAOFX vs. FRHMX - Performance Comparison
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PAOFX vs. FRHMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
PAOFX T. Rowe Price Target 2050 Fund | -3.53% | 17.86% | 13.37% | 19.70% | -19.27% | 16.11% | 17.65% | 7.22% |
FRHMX Fidelity Managed Retirement Income Fund Class K6 | -0.45% | 10.02% | 4.50% | 8.28% | -11.48% | 2.98% | 8.79% | 3.17% |
Returns By Period
In the year-to-date period, PAOFX achieves a -3.53% return, which is significantly lower than FRHMX's -0.45% return.
PAOFX
- 1D
- -0.31%
- 1M
- -8.96%
- YTD
- -3.53%
- 6M
- -0.95%
- 1Y
- 13.51%
- 3Y*
- 13.30%
- 5Y*
- 6.54%
- 10Y*
- 9.47%
FRHMX
- 1D
- 0.27%
- 1M
- -3.16%
- YTD
- -0.45%
- 6M
- 0.86%
- 1Y
- 7.28%
- 3Y*
- 6.13%
- 5Y*
- 2.58%
- 10Y*
- —
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PAOFX vs. FRHMX - Expense Ratio Comparison
PAOFX has a 0.88% expense ratio, which is higher than FRHMX's 0.25% expense ratio.
Return for Risk
PAOFX vs. FRHMX — Risk / Return Rank
PAOFX
FRHMX
PAOFX vs. FRHMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Target 2050 Fund (PAOFX) and Fidelity Managed Retirement Income Fund Class K6 (FRHMX). 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.
| PAOFX | FRHMX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.91 | 1.61 | -0.70 |
Sortino ratioReturn per unit of downside risk | 1.36 | 2.24 | -0.88 |
Omega ratioGain probability vs. loss probability | 1.20 | 1.32 | -0.12 |
Calmar ratioReturn relative to maximum drawdown | 1.00 | 2.15 | -1.15 |
Martin ratioReturn relative to average drawdown | 4.62 | 8.71 | -4.09 |
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
| PAOFX | FRHMX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.91 | 1.61 | -0.70 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.46 | 0.50 | -0.04 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.65 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.63 | 0.71 | -0.08 |
Correlation
The correlation between PAOFX and FRHMX is 0.69, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
PAOFX vs. FRHMX - Dividend Comparison
PAOFX's dividend yield for the trailing twelve months is around 4.79%, more than FRHMX's 3.39% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PAOFX T. Rowe Price Target 2050 Fund | 4.79% | 4.62% | 2.43% | 2.48% | 5.30% | 3.47% | 2.61% | 4.21% | 5.34% | 2.31% | 2.31% | 2.44% |
FRHMX Fidelity Managed Retirement Income Fund Class K6 | 3.39% | 3.22% | 3.24% | 3.02% | 4.77% | 3.78% | 2.61% | 1.95% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
PAOFX vs. FRHMX - Drawdown Comparison
The maximum PAOFX drawdown since its inception was -30.94%, which is greater than FRHMX's maximum drawdown of -15.96%. Use the drawdown chart below to compare losses from any high point for PAOFX and FRHMX.
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Drawdown Indicators
| PAOFX | FRHMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.94% | -15.96% | -14.98% |
Max Drawdown (1Y)Largest decline over 1 year | -11.09% | -3.42% | -7.67% |
Max Drawdown (5Y)Largest decline over 5 years | -27.78% | -15.96% | -11.82% |
Max Drawdown (10Y)Largest decline over 10 years | -30.94% | — | — |
Current DrawdownCurrent decline from peak | -9.30% | -3.16% | -6.14% |
Average DrawdownAverage peak-to-trough decline | -4.88% | -3.58% | -1.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.69% | 0.85% | +1.84% |
Volatility
PAOFX vs. FRHMX - Volatility Comparison
T. Rowe Price Target 2050 Fund (PAOFX) has a higher volatility of 4.79% compared to Fidelity Managed Retirement Income Fund Class K6 (FRHMX) at 1.96%. This indicates that PAOFX's price experiences larger fluctuations and is considered to be riskier than FRHMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PAOFX | FRHMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.79% | 1.96% | +2.83% |
Volatility (6M)Calculated over the trailing 6-month period | 8.74% | 2.86% | +5.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.39% | 4.59% | +10.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.48% | 5.22% | +9.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.62% | 5.14% | +9.48% |