RFUTX vs. FRASX

Last updated Jul 25, 2026

RFUTX (American Funds 2060 Target Date Retirement Fund Class R-6) and FRASX (Fidelity Advisor Managed Retirement 2015 Fund) are both Target Retirement Date funds. Over the past 10 years, RFUTX returned 11.89%/yr vs 5.90%/yr for FRASX. Their correlation of 0.86 suggests significant overlap in exposure. RFUTX charges 0.39%/yr vs 0.46%/yr for FRASX.

Performance

RFUTX vs. FRASX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Funds 2060 Target Date Retirement Fund Class R-6 (RFUTX) and Fidelity Advisor Managed Retirement 2015 Fund (FRASX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RFUTX achieves a 8.63% return, which is significantly higher than FRASX's 4.26% return. Over the past 10 years, RFUTX has outperformed FRASX with an annualized return of 11.89%, while FRASX has yielded a comparatively lower 5.90% annualized return.

RFUTX

• 1D: -0.71%
• 1M: -0.58%
• 6M: 5.54%
• YTD: 8.63%
• 1Y: 16.40%
• 3Y*: 16.99%
• 5Y*: 9.12%
• 10Y*: 11.89%
• ALL TIME*: 11.98%

FRASX

• 1D: 0.00%
• 1M: 0.00%
• 6M: 2.97%
• YTD: 4.26%
• 1Y: 8.76%
• 3Y*: 8.33%
• 5Y*: 3.19%
• 10Y*: 5.90%
• ALL TIME*: 5.20%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FRASX Fidelity Advisor Managed Retirement 2015 Fund	$0.00	$0.00	$0.00
RFUTX American Funds 2060 Target Date Retirement Fund Class R-6	$0.00	$0.00	$0.00

RFUTX vs. FRASX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RFUTX American Funds 2060 Target Date Retirement Fund Class R-6	8.63%	20.79%	15.61%	21.62%	-19.64%	17.23%	19.45%	24.99%	-5.63%	22.50%
FRASX Fidelity Advisor Managed Retirement 2015 Fund	4.26%	11.05%	5.18%	9.62%	-13.50%	5.33%	10.89%	14.42%	-3.67%	12.07%

Correlation

The correlation between RFUTX and FRASX is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.78
Correlation (5Y) Calculated over the trailing 5-year period	0.80
Correlation (10Y) Calculated over the trailing 10-year period	0.85
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016	0.86

The correlation between RFUTX and FRASX has been stable across timeframes, ranging from 0.78 to 0.86 - a consistent structural relationship.

Return for Risk

RFUTX vs. FRASX — Risk / Return Rank

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

RFUTX

RFUTX Risk / Return Rank: 45
RFUTX Sharpe Ratio Rank: 44
RFUTX Sortino Ratio Rank: 43
RFUTX Omega Ratio Rank: 43
RFUTX Calmar Ratio Rank: 42
RFUTX Martin Ratio Rank: 53

FRASX

FRASX Risk / Return Rank: 80
FRASX Sharpe Ratio Rank: 82
FRASX Sortino Ratio Rank: 81
FRASX Omega Ratio Rank: 83
FRASX Calmar Ratio Rank: 75
FRASX Martin Ratio Rank: 82

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.

RFUTX vs. FRASX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Funds 2060 Target Date Retirement Fund Class R-6 (RFUTX) and Fidelity Advisor Managed Retirement 2015 Fund (FRASX). 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.

	RFUTX	FRASX	Difference
Sharpe ratio: Return per unit of total volatility	1.25	1.91	-0.66
Sortino ratio: Return per unit of downside risk	1.80	2.75	-0.95
Omega ratio: Gain probability vs. loss probability	1.23	1.38	-0.16
Calmar ratio: Return relative to maximum drawdown	1.67	2.44	-0.77
Martin ratio: Return relative to average drawdown	7.28	10.21	-2.94

RFUTX vs. FRASX - Sharpe Ratio Comparison

The current RFUTX Sharpe Ratio is 1.25, which is lower than the FRASX Sharpe Ratio of 1.91. The chart below compares the historical Sharpe Ratios of RFUTX and FRASX, 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

RFUTX vs. FRASX - Drawdown Comparison

The maximum RFUTX drawdown since its inception was -29.32%, smaller than the maximum FRASX drawdown of -40.08%. Use the drawdown chart below to compare losses from any high point for RFUTX and FRASX.

Drawdown Indicators

	RFUTX	FRASX	Difference
Max Drawdown Largest peak-to-trough decline	-29.32%	-40.08%	+10.76%
Max Drawdown (1Y) Largest decline over 1 year	-9.81%	-3.92%	-5.89%
Max Drawdown (3Y) Largest decline over 3 years	-15.47%	-5.74%	-9.73%
Max Drawdown (5Y) Largest decline over 5 years	-27.28%	-18.55%	-8.73%
Max Drawdown (10Y) Largest decline over 10 years	-29.32%	-18.55%	-10.77%
Current Drawdown Current decline from peak	-2.54%	-0.49%	-2.05%
Average Drawdown Average peak-to-trough decline	-4.70%	-4.87%	+0.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.24%	0.93%	+1.31%

Volatility

RFUTX vs. FRASX - Volatility Comparison

American Funds 2060 Target Date Retirement Fund Class R-6 (RFUTX) has a higher volatility of 3.31% compared to Fidelity Advisor Managed Retirement 2015 Fund (FRASX) at 1.84%. This indicates that RFUTX's price experiences larger fluctuations and is considered to be riskier than FRASX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RFUTX	FRASX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.31%	1.84%	+1.47%
Volatility (6M) Calculated over the trailing 6-month period	10.80%	4.26%	+6.54%
Volatility (1Y) Calculated over the trailing 1-year period	13.15%	5.02%	+8.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.85%	6.41%	+8.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.09%	6.29%	+8.80%

RFUTX vs. FRASX - Expense Ratio Comparison

RFUTX has a 0.39% expense ratio, which is lower than FRASX's 0.46% expense ratio.

Dividends

RFUTX vs. FRASX - Dividend Comparison

RFUTX's dividend yield for the trailing twelve months is around 5.12%, more than FRASX's 2.97% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FRASX Fidelity Advisor Managed Retirement 2015 Fund	2.97%	2.51%	2.88%	2.67%	4.93%	5.21%	3.38%	3.23%	6.32%	24.29%	2.17%	4.48%
RFUTX American Funds 2060 Target Date Retirement Fund Class R-6	5.12%	5.56%	3.35%	2.39%	6.49%	3.77%	2.82%	3.54%	3.78%	1.78%	2.54%	0.00%

Frequently Asked Questions

Can I hold both RFUTX and FRASX in my portfolio?

RFUTX and FRASX have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RFUTX or FRASX?

RFUTX has higher volatility (3.31%) compared to FRASX (1.84%). In terms of maximum drawdown, RFUTX dropped -29.32% vs FRASX's -40.08%.

Which has better risk-adjusted returns?

FRASX currently has the higher Sharpe Ratio (1.91 vs 1.25), 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.