RFUTX vs. FRQAX

Last updated Jul 25, 2026

RFUTX (American Funds 2060 Target Date Retirement Fund Class R-6) and FRQAX (Fidelity Advisor Managed Retirement 2010 Fund Class A) are both Target Retirement Date funds. Over the past 10 years, RFUTX returned 11.89%/yr vs 4.87%/yr for FRQAX. Their correlation of 0.80 suggests significant overlap in exposure. RFUTX charges 0.39%/yr vs 0.71%/yr for FRQAX.

Performance

RFUTX vs. FRQAX - 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 2010 Fund Class A (FRQAX). 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 FRQAX's 3.51% return. Over the past 10 years, RFUTX has outperformed FRQAX with an annualized return of 11.89%, while FRQAX has yielded a comparatively lower 4.87% 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%

FRQAX

• 1D: 0.00%
• 1M: 0.00%
• 6M: 2.42%
• YTD: 3.51%
• 1Y: 7.40%
• 3Y*: 7.10%
• 5Y*: 2.44%
• 10Y*: 4.87%
• ALL TIME*: 4.54%

*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)
FRQAX Fidelity Advisor Managed Retirement 2010 Fund Class A	$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. FRQAX - 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%
FRQAX Fidelity Advisor Managed Retirement 2010 Fund Class A	3.51%	9.54%	4.21%	8.24%	-12.60%	3.56%	9.32%	12.33%	-3.06%	10.34%

Correlation

The correlation between RFUTX and FRQAX is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.76
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (5Y) Calculated over the trailing 5-year period	0.73
Correlation (10Y) Calculated over the trailing 10-year period	0.79
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016	0.80

The correlation between RFUTX and FRQAX has been stable across timeframes, ranging from 0.72 to 0.80 - a consistent structural relationship.

Return for Risk

RFUTX vs. FRQAX — 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

FRQAX

FRQAX Risk / Return Rank: 76
FRQAX Sharpe Ratio Rank: 78
FRQAX Sortino Ratio Rank: 77
FRQAX Omega Ratio Rank: 80
FRQAX Calmar Ratio Rank: 68
FRQAX Martin Ratio Rank: 75

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. FRQAX - 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 2010 Fund Class A (FRQAX). 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	FRQAX	Difference
Sharpe ratio: Return per unit of total volatility	1.25	1.84	-0.60
Sortino ratio: Return per unit of downside risk	1.80	2.66	-0.86
Omega ratio: Gain probability vs. loss probability	1.23	1.37	-0.14
Calmar ratio: Return relative to maximum drawdown	1.67	2.30	-0.63
Martin ratio: Return relative to average drawdown	7.28	9.55	-2.28

RFUTX vs. FRQAX - Sharpe Ratio Comparison

The current RFUTX Sharpe Ratio is 1.25, which is lower than the FRQAX Sharpe Ratio of 1.84. The chart below compares the historical Sharpe Ratios of RFUTX and FRQAX, 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. FRQAX - Drawdown Comparison

The maximum RFUTX drawdown since its inception was -29.32%, smaller than the maximum FRQAX drawdown of -38.22%. Use the drawdown chart below to compare losses from any high point for RFUTX and FRQAX.

Drawdown Indicators

	RFUTX	FRQAX	Difference
Max Drawdown Largest peak-to-trough decline	-29.32%	-38.22%	+8.90%
Max Drawdown (1Y) Largest decline over 1 year	-9.81%	-3.46%	-6.35%
Max Drawdown (3Y) Largest decline over 3 years	-15.47%	-5.14%	-10.33%
Max Drawdown (5Y) Largest decline over 5 years	-27.28%	-17.24%	-10.04%
Max Drawdown (10Y) Largest decline over 10 years	-29.32%	-17.24%	-12.08%
Current Drawdown Current decline from peak	-2.54%	-0.43%	-2.11%
Average Drawdown Average peak-to-trough decline	-4.70%	-4.56%	-0.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.24%	0.83%	+1.41%

Volatility

RFUTX vs. FRQAX - 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 2010 Fund Class A (FRQAX) at 1.58%. This indicates that RFUTX's price experiences larger fluctuations and is considered to be riskier than FRQAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RFUTX	FRQAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.31%	1.58%	+1.73%
Volatility (6M) Calculated over the trailing 6-month period	10.80%	3.67%	+7.13%
Volatility (1Y) Calculated over the trailing 1-year period	13.15%	4.33%	+8.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.85%	5.59%	+9.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.09%	5.28%	+9.81%

RFUTX vs. FRQAX - Expense Ratio Comparison

RFUTX has a 0.39% expense ratio, which is lower than FRQAX's 0.71% expense ratio.

Dividends

RFUTX vs. FRQAX - Dividend Comparison

RFUTX's dividend yield for the trailing twelve months is around 5.12%, more than FRQAX's 2.89% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FRQAX Fidelity Advisor Managed Retirement 2010 Fund Class A	2.89%	2.72%	2.71%	2.46%	4.74%	5.76%	3.26%	2.93%	5.33%	16.05%	2.18%	3.81%
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 FRQAX in my portfolio?

RFUTX and FRQAX have a correlation of 0.76, 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 FRQAX?

RFUTX has higher volatility (3.31%) compared to FRQAX (1.58%). In terms of maximum drawdown, RFUTX dropped -29.32% vs FRQAX's -38.22%.

Which has better risk-adjusted returns?

FRQAX currently has the higher Sharpe Ratio (1.84 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.