TLLRX vs. FRQHX

Last updated Jun 27, 2026

TLLRX (Nuveen Lifecycle Index 2050 Fund Retirement Class) and FRQHX (Fidelity Managed Retirement 2010 Fund Class K6) are both Target Retirement Date funds. Over the past 5 years, TLLRX returned 9.43%/yr vs 2.97%/yr for FRQHX. A 0.78 correlation means they provide meaningful diversification when combined. TLLRX charges 0.35%/yr vs 0.26%/yr for FRQHX.

Performance

TLLRX vs. FRQHX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nuveen Lifecycle Index 2050 Fund Retirement Class (TLLRX) and Fidelity Managed Retirement 2010 Fund Class K6 (FRQHX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TLLRX achieves a 9.63% return, which is significantly higher than FRQHX's 3.71% return.

TLLRX

• 1D: 0.33%
• 1M: -0.77%
• YTD: 9.63%
• 6M: 8.76%
• 1Y: 21.52%
• 3Y*: 18.26%
• 5Y*: 9.43%
• 10Y*: 12.26%

FRQHX

• 1D: 0.00%
• 1M: 0.10%
• YTD: 3.71%
• 6M: 3.52%
• 1Y: 8.37%
• 3Y*: 7.44%
• 5Y*: 2.97%
• 10Y*: —

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

TLLRX vs. FRQHX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
TLLRX Nuveen Lifecycle Index 2050 Fund Retirement Class	9.63%	20.46%	14.87%	20.25%	-17.73%	16.86%	16.87%	8.10%
FRQHX Fidelity Managed Retirement 2010 Fund Class K6	3.71%	10.01%	4.68%	8.75%	-12.22%	4.04%	9.80%	3.95%

Correlation

The correlation between TLLRX and FRQHX 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	0.76
Correlation (5Y) Calculated over the trailing 5-year period	0.75
Correlation (All Time) Calculated using the full available price history since Aug 1, 2019	0.78

The correlation between TLLRX and FRQHX has been stable across timeframes, ranging from 0.75 to 0.81 - a consistent structural relationship.

Return for Risk

TLLRX vs. FRQHX — Risk / Return Rank

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

TLLRX

TLLRX Risk / Return Rank: 60
TLLRX Sharpe Ratio Rank: 59
TLLRX Sortino Ratio Rank: 56
TLLRX Omega Ratio Rank: 57
TLLRX Calmar Ratio Rank: 60
TLLRX Martin Ratio Rank: 69

FRQHX

FRQHX Risk / Return Rank: 80
FRQHX Sharpe Ratio Rank: 81
FRQHX Sortino Ratio Rank: 81
FRQHX Omega Ratio Rank: 82
FRQHX Calmar Ratio Rank: 74
FRQHX Martin Ratio Rank: 79

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.

TLLRX vs. FRQHX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nuveen Lifecycle Index 2050 Fund Retirement Class (TLLRX) and Fidelity Managed Retirement 2010 Fund Class K6 (FRQHX). 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.

	TLLRX	FRQHX	Difference
Sharpe ratio: Return per unit of total volatility	1.87	2.26	-0.38
Sortino ratio: Return per unit of downside risk	2.59	3.27	-0.69
Omega ratio: Gain probability vs. loss probability	1.34	1.45	-0.11
Calmar ratio: Return relative to maximum drawdown	2.58	2.88	-0.30
Martin ratio: Return relative to average drawdown	11.14	12.04	-0.91

TLLRX vs. FRQHX - Sharpe Ratio Comparison

The current TLLRX Sharpe Ratio is 1.87, which is comparable to the FRQHX Sharpe Ratio of 2.26. The chart below compares the historical Sharpe Ratios of TLLRX and FRQHX, 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

TLLRX vs. FRQHX - Drawdown Comparison

The maximum TLLRX drawdown since its inception was -31.43%, which is greater than FRQHX's maximum drawdown of -16.90%. Use the drawdown chart below to compare losses from any high point for TLLRX and FRQHX.

Drawdown Indicators

	TLLRX	FRQHX	Difference
Max Drawdown Largest peak-to-trough decline	-31.43%	-16.90%	-14.53%
Max Drawdown (1Y) Largest decline over 1 year	-8.81%	-3.41%	-5.40%
Max Drawdown (3Y) Largest decline over 3 years	-14.91%	-5.15%	-9.76%
Max Drawdown (5Y) Largest decline over 5 years	-25.56%	-16.90%	-8.66%
Max Drawdown (10Y) Largest decline over 10 years	-31.43%	—	—
Current Drawdown Current decline from peak	-2.03%	-0.41%	-1.62%
Average Drawdown Average peak-to-trough decline	-4.22%	-3.77%	-0.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.04%	0.81%	+1.23%

Volatility

TLLRX vs. FRQHX - Volatility Comparison

Nuveen Lifecycle Index 2050 Fund Retirement Class (TLLRX) has a higher volatility of 5.04% compared to Fidelity Managed Retirement 2010 Fund Class K6 (FRQHX) at 2.04%. This indicates that TLLRX's price experiences larger fluctuations and is considered to be riskier than FRQHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TLLRX	FRQHX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.04%	2.04%	+3.00%
Volatility (6M) Calculated over the trailing 6-month period	10.10%	3.70%	+6.40%
Volatility (1Y) Calculated over the trailing 1-year period	12.16%	4.36%	+7.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.60%	5.60%	+9.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.49%	5.77%	+9.72%

TLLRX vs. FRQHX - Expense Ratio Comparison

TLLRX has a 0.35% expense ratio, which is higher than FRQHX's 0.26% expense ratio.

Dividends

TLLRX vs. FRQHX - Dividend Comparison

TLLRX's dividend yield for the trailing twelve months is around 2.65%, less than FRQHX's 3.40% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FRQHX Fidelity Managed Retirement 2010 Fund Class K6	3.40%	3.20%	3.20%	2.95%	5.25%	6.22%	3.70%	2.57%	0.00%	0.00%	0.00%	0.00%
TLLRX Nuveen Lifecycle Index 2050 Fund Retirement Class	2.65%	2.91%	2.02%	1.96%	2.11%	2.08%	1.51%	2.04%	2.42%	0.15%	2.41%	0.27%

Frequently Asked Questions

Can I hold both TLLRX and FRQHX in my portfolio?

TLLRX and FRQHX 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, TLLRX or FRQHX?

TLLRX has higher volatility (5.04%) compared to FRQHX (2.04%). In terms of maximum drawdown, TLLRX dropped -31.43% vs FRQHX's -16.90%.

Which has better risk-adjusted returns?

FRQHX currently has the higher Sharpe Ratio (2.26 vs 1.87), 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.