TCLEX vs. FRIMX
TCLEX (TIAA-CREF Lifecycle 2010 Fund) and FRIMX (Fidelity Advisor Managed Retirement Income Fund Class I) are both Target Retirement Date funds. Over the past 10 years, TCLEX returned 5.93%/yr vs 4.19%/yr for FRIMX. Their correlation of 0.93 suggests significant overlap in exposure. TCLEX charges 0.51%/yr vs 0.45%/yr for FRIMX.
Performance
TCLEX vs. FRIMX - Performance Comparison
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Returns By Period
In the year-to-date period, TCLEX achieves a 4.31% return, which is significantly higher than FRIMX's 3.59% return. Over the past 10 years, TCLEX has outperformed FRIMX with an annualized return of 5.93%, while FRIMX has yielded a comparatively lower 4.19% annualized return.
TCLEX
- 1D
- 0.50%
- 1M
- 1.15%
- YTD
- 4.31%
- 6M
- 4.39%
- 1Y
- 11.97%
- 3Y*
- 9.19%
- 5Y*
- 4.34%
- 10Y*
- 5.93%
FRIMX
- 1D
- 0.00%
- 1M
- 0.65%
- YTD
- 3.59%
- 6M
- 3.72%
- 1Y
- 9.38%
- 3Y*
- 7.18%
- 5Y*
- 2.79%
- 10Y*
- 4.19%
TCLEX vs. FRIMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TCLEX TIAA-CREF Lifecycle 2010 Fund | 4.31% | 11.22% | 7.31% | 10.64% | -12.64% | 6.62% | 10.95% | 15.14% | -4.14% | 9.99% |
FRIMX Fidelity Advisor Managed Retirement Income Fund Class I | 3.59% | 9.94% | 4.30% | 8.06% | -11.66% | 2.78% | 8.57% | 10.57% | -1.82% | 7.08% |
Correlation
The correlation between TCLEX and FRIMX is 0.91, 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 | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.90 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.89 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Aug 30, 2007 | 0.93 |
The correlation between TCLEX and FRIMX has been stable across timeframes, ranging from 0.87 to 0.93 - a consistent structural relationship.
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Return for Risk
TCLEX vs. FRIMX — Risk / Return Rank
TCLEX
FRIMX
TCLEX vs. FRIMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TIAA-CREF Lifecycle 2010 Fund (TCLEX) and Fidelity Advisor Managed Retirement Income Fund Class I (FRIMX). 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.
| TCLEX | FRIMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.07 | ||
| Sortino ratioReturn per unit of downside risk | +0.14 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.44 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.80 | 2.74 | +0.06 |
| Martin ratioReturn relative to average drawdown | 12.22 | 11.47 | +0.75 |
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Drawdowns
TCLEX vs. FRIMX - Drawdown Comparison
The maximum TCLEX drawdown since its inception was -35.33%, roughly equal to the maximum FRIMX drawdown of -33.73%. Use the drawdown chart below to compare losses from any high point for TCLEX and FRIMX.
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Drawdown Indicators
| TCLEX | FRIMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.33% | -33.73% | -1.60% |
Max Drawdown (1Y)Largest decline over 1 year | -4.28% | -3.44% | -0.84% |
Max Drawdown (3Y)Largest decline over 3 years | -8.25% | -4.97% | -3.28% |
Max Drawdown (5Y)Largest decline over 5 years | -17.31% | -16.12% | -1.19% |
Max Drawdown (10Y)Largest decline over 10 years | -17.31% | -16.12% | -1.19% |
Current DrawdownCurrent decline from peak | -0.07% | -0.44% | +0.37% |
Average DrawdownAverage peak-to-trough decline | -3.98% | -3.70% | -0.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.98% | 0.82% | +0.16% |
Volatility
TCLEX vs. FRIMX - Volatility Comparison
TIAA-CREF Lifecycle 2010 Fund (TCLEX) has a higher volatility of 2.13% compared to Fidelity Advisor Managed Retirement Income Fund Class I (FRIMX) at 1.77%. This indicates that TCLEX's price experiences larger fluctuations and is considered to be riskier than FRIMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TCLEX | FRIMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.13% | 1.77% | +0.36% |
Volatility (6M)Calculated over the trailing 6-month period | 4.46% | 3.68% | +0.78% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.37% | 4.35% | +1.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.94% | 5.32% | +1.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.02% | 4.54% | +2.48% |
TCLEX vs. FRIMX - Expense Ratio Comparison
TCLEX has a 0.51% expense ratio, which is higher than FRIMX's 0.45% expense ratio.
Dividends
TCLEX vs. FRIMX - Dividend Comparison
TCLEX's dividend yield for the trailing twelve months is around 5.11%, more than FRIMX's 3.24% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FRIMX Fidelity Advisor Managed Retirement Income Fund Class I | 3.24% | 3.11% | 3.01% | 2.82% | 4.52% | 3.54% | 2.41% | 2.56% | 4.67% | 8.56% | 1.67% | 1.68% |
TCLEX TIAA-CREF Lifecycle 2010 Fund | 5.11% | 5.33% | 4.44% | 2.95% | 5.91% | 8.53% | 6.93% | 3.95% | 5.60% | 1.72% | 3.45% | 2.47% |
Frequently Asked Questions
With a correlation of 0.91, TCLEX and FRIMX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
TCLEX has higher volatility (2.13%) compared to FRIMX (1.77%). In terms of maximum drawdown, TCLEX dropped -35.33% vs FRIMX's -33.73%.
TCLEX currently has the higher Sharpe Ratio (2.23 vs 2.16), 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.
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