PRZZX vs. FRAMX
Compare and contrast key facts about Putnam RetirementReady 2040 Fund (PRZZX) and Fidelity Advisor Managed Retirement Income Fund Class A (FRAMX).
PRZZX is managed by Putnam. It was launched on Oct 31, 2004. FRAMX is managed by BlackRock. It was launched on Aug 30, 2007.
Performance
PRZZX vs. FRAMX - Performance Comparison
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PRZZX vs. FRAMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PRZZX Putnam RetirementReady 2040 Fund | -5.87% | 11.23% | 11.08% | 20.18% | -12.11% | 12.66% | 10.18% | 17.92% | -8.50% | 18.23% |
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, PRZZX achieves a -5.87% return, which is significantly lower than FRAMX's -0.57% return. Over the past 10 years, PRZZX has outperformed FRAMX with an annualized return of 7.70%, while FRAMX has yielded a comparatively lower 3.65% annualized return.
PRZZX
- 1D
- -0.10%
- 1M
- -5.78%
- YTD
- -5.87%
- 6M
- -3.99%
- 1Y
- 8.03%
- 3Y*
- 10.12%
- 5Y*
- 6.04%
- 10Y*
- 7.70%
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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PRZZX vs. FRAMX - Expense Ratio Comparison
PRZZX has a 0.05% expense ratio, which is lower than FRAMX's 0.70% expense ratio.
Return for Risk
PRZZX vs. FRAMX — Risk / Return Rank
PRZZX
FRAMX
PRZZX vs. FRAMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Putnam RetirementReady 2040 Fund (PRZZX) 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.
| PRZZX | FRAMX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.72 | 1.50 | -0.78 |
Sortino ratioReturn per unit of downside risk | 1.01 | 2.09 | -1.07 |
Omega ratioGain probability vs. loss probability | 1.15 | 1.30 | -0.15 |
Calmar ratioReturn relative to maximum drawdown | 0.72 | 2.00 | -1.28 |
Martin ratioReturn relative to average drawdown | 3.21 | 8.06 | -4.85 |
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
| PRZZX | FRAMX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.72 | 1.50 | -0.78 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.56 | 0.41 | +0.15 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.69 | 0.82 | -0.13 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.76 | 0.49 | +0.26 |
Correlation
The correlation between PRZZX 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
PRZZX vs. FRAMX - Dividend Comparison
PRZZX's dividend yield for the trailing twelve months is around 2.04%, less than FRAMX's 2.91% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PRZZX Putnam RetirementReady 2040 Fund | 2.04% | 1.92% | 1.69% | 1.88% | 14.10% | 8.92% | 1.69% | 5.15% | 9.81% | 4.19% | 0.38% | 2.24% |
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
PRZZX vs. FRAMX - Drawdown Comparison
The maximum PRZZX drawdown since its inception was -23.93%, smaller than the maximum FRAMX drawdown of -33.94%. Use the drawdown chart below to compare losses from any high point for PRZZX and FRAMX.
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Drawdown Indicators
| PRZZX | FRAMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.93% | -33.94% | +10.01% |
Max Drawdown (1Y)Largest decline over 1 year | -9.45% | -3.45% | -6.00% |
Max Drawdown (5Y)Largest decline over 5 years | -17.08% | -16.31% | -0.77% |
Max Drawdown (10Y)Largest decline over 10 years | -23.93% | -16.31% | -7.62% |
Current DrawdownCurrent decline from peak | -7.21% | -3.20% | -4.01% |
Average DrawdownAverage peak-to-trough decline | -3.30% | -3.87% | +0.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.11% | 0.86% | +1.25% |
Volatility
PRZZX vs. FRAMX - Volatility Comparison
Putnam RetirementReady 2040 Fund (PRZZX) has a higher volatility of 3.44% compared to Fidelity Advisor Managed Retirement Income Fund Class A (FRAMX) at 1.96%. This indicates that PRZZX'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
| PRZZX | FRAMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.44% | 1.96% | +1.48% |
Volatility (6M)Calculated over the trailing 6-month period | 6.62% | 2.86% | +3.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.27% | 4.59% | +6.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.81% | 5.21% | +5.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.26% | 4.47% | +6.79% |