PATVX vs. FRAMX
Compare and contrast key facts about T. Rowe Price Target 2035 Fund (PATVX) and Fidelity Advisor Managed Retirement Income Fund Class A (FRAMX).
PATVX is managed by T. Rowe Price. It was launched on Aug 19, 2013. FRAMX is managed by BlackRock. It was launched on Aug 30, 2007.
Performance
PATVX vs. FRAMX - Performance Comparison
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PATVX vs. FRAMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PATVX T. Rowe Price Target 2035 Fund | -2.40% | 14.12% | 10.28% | 15.63% | -16.79% | 12.51% | 15.16% | 20.62% | -6.13% | 16.13% |
FRAMX Fidelity Advisor Managed Retirement Income Fund Class A | -0.57% | 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, PATVX achieves a -2.40% return, which is significantly lower than FRAMX's -0.57% return. Over the past 10 years, PATVX has outperformed FRAMX with an annualized return of 7.72%, while FRAMX has yielded a comparatively lower 3.65% annualized return.
PATVX
- 1D
- -0.06%
- 1M
- -6.60%
- YTD
- -2.40%
- 6M
- -0.33%
- 1Y
- 10.44%
- 3Y*
- 10.53%
- 5Y*
- 5.08%
- 10Y*
- 7.72%
FRAMX
- 1D
- 0.26%
- 1M
- -3.20%
- YTD
- -0.57%
- 6M
- 0.62%
- 1Y
- 6.78%
- 3Y*
- 5.66%
- 5Y*
- 2.13%
- 10Y*
- 3.65%
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PATVX vs. FRAMX - Expense Ratio Comparison
PATVX has a 0.83% expense ratio, which is higher than FRAMX's 0.70% expense ratio.
Return for Risk
PATVX vs. FRAMX — Risk / Return Rank
PATVX
FRAMX
PATVX vs. FRAMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Target 2035 Fund (PATVX) 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.
| PATVX | FRAMX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.02 | 1.50 | -0.48 |
Sortino ratioReturn per unit of downside risk | 1.48 | 2.09 | -0.61 |
Omega ratioGain probability vs. loss probability | 1.22 | 1.30 | -0.08 |
Calmar ratioReturn relative to maximum drawdown | 1.12 | 2.00 | -0.88 |
Martin ratioReturn relative to average drawdown | 5.15 | 8.06 | -2.91 |
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
| PATVX | FRAMX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.02 | 1.50 | -0.48 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.48 | 0.41 | +0.07 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.68 | 0.82 | -0.13 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.66 | 0.49 | +0.17 |
Correlation
The correlation between PATVX and FRAMX is 0.80, 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
PATVX vs. FRAMX - Dividend Comparison
PATVX's dividend yield for the trailing twelve months is around 7.21%, more than FRAMX's 2.91% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PATVX T. Rowe Price Target 2035 Fund | 7.21% | 7.03% | 3.58% | 3.00% | 5.31% | 3.38% | 2.93% | 3.77% | 5.30% | 1.72% | 2.19% | 2.39% |
FRAMX Fidelity Advisor Managed Retirement Income Fund Class A | 2.91% | 2.77% | 2.77% | 2.58% | 4.26% | 3.31% | 2.23% | 2.37% | 4.40% | 8.26% | 1.42% | 1.42% |
Drawdowns
PATVX vs. FRAMX - Drawdown Comparison
The maximum PATVX drawdown since its inception was -26.76%, smaller than the maximum FRAMX drawdown of -33.94%. Use the drawdown chart below to compare losses from any high point for PATVX and FRAMX.
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Drawdown Indicators
| PATVX | FRAMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.76% | -33.94% | +7.18% |
Max Drawdown (1Y)Largest decline over 1 year | -8.03% | -3.45% | -4.58% |
Max Drawdown (5Y)Largest decline over 5 years | -23.82% | -16.31% | -7.51% |
Max Drawdown (10Y)Largest decline over 10 years | -26.76% | -16.31% | -10.45% |
Current DrawdownCurrent decline from peak | -6.77% | -3.20% | -3.57% |
Average DrawdownAverage peak-to-trough decline | -4.14% | -3.87% | -0.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.93% | 0.86% | +1.07% |
Volatility
PATVX vs. FRAMX - Volatility Comparison
T. Rowe Price Target 2035 Fund (PATVX) has a higher volatility of 3.50% compared to Fidelity Advisor Managed Retirement Income Fund Class A (FRAMX) at 1.96%. This indicates that PATVX'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
| PATVX | FRAMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.50% | 1.96% | +1.54% |
Volatility (6M)Calculated over the trailing 6-month period | 6.22% | 2.86% | +3.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.75% | 4.59% | +6.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.79% | 5.21% | +5.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.35% | 4.47% | +6.88% |