TLZIX vs. FRAMX
Compare and contrast key facts about TIAA-CREF Lifecycle Index 2040 Fund (TLZIX) and Fidelity Advisor Managed Retirement Income Fund Class A (FRAMX).
TLZIX is managed by TIAA Investments. It was launched on Sep 29, 2009. FRAMX is managed by BlackRock. It was launched on Aug 30, 2007.
Performance
TLZIX vs. FRAMX - Performance Comparison
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TLZIX vs. FRAMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TLZIX TIAA-CREF Lifecycle Index 2040 Fund | -3.64% | 18.86% | 13.52% | 18.98% | -16.69% | 14.86% | 16.26% | 24.52% | -6.39% | 18.09% |
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, TLZIX achieves a -3.64% return, which is significantly lower than FRAMX's -0.57% return. Over the past 10 years, TLZIX has outperformed FRAMX with an annualized return of 9.85%, while FRAMX has yielded a comparatively lower 3.65% annualized return.
TLZIX
- 1D
- -0.15%
- 1M
- -7.35%
- YTD
- -3.64%
- 6M
- -1.14%
- 1Y
- 14.57%
- 3Y*
- 13.26%
- 5Y*
- 7.37%
- 10Y*
- 9.85%
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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TLZIX vs. FRAMX - Expense Ratio Comparison
TLZIX has a 0.10% expense ratio, which is lower than FRAMX's 0.70% expense ratio.
Return for Risk
TLZIX vs. FRAMX — Risk / Return Rank
TLZIX
FRAMX
TLZIX vs. FRAMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for TIAA-CREF Lifecycle Index 2040 Fund (TLZIX) 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.
| TLZIX | FRAMX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.12 | 1.50 | -0.38 |
Sortino ratioReturn per unit of downside risk | 1.63 | 2.09 | -0.46 |
Omega ratioGain probability vs. loss probability | 1.24 | 1.30 | -0.06 |
Calmar ratioReturn relative to maximum drawdown | 1.34 | 2.00 | -0.66 |
Martin ratioReturn relative to average drawdown | 6.27 | 8.06 | -1.79 |
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
| TLZIX | FRAMX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.12 | 1.50 | -0.38 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.58 | 0.41 | +0.17 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.71 | 0.82 | -0.11 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.69 | 0.49 | +0.20 |
Correlation
The correlation between TLZIX and FRAMX is 0.85, 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
TLZIX vs. FRAMX - Dividend Comparison
TLZIX's dividend yield for the trailing twelve months is around 3.96%, more than FRAMX's 2.91% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TLZIX TIAA-CREF Lifecycle Index 2040 Fund | 3.96% | 3.82% | 2.49% | 2.11% | 2.62% | 2.93% | 1.95% | 2.26% | 2.68% | 0.18% | 2.64% | 0.31% |
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
TLZIX vs. FRAMX - Drawdown Comparison
The maximum TLZIX drawdown since its inception was -28.82%, smaller than the maximum FRAMX drawdown of -33.94%. Use the drawdown chart below to compare losses from any high point for TLZIX and FRAMX.
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Drawdown Indicators
| TLZIX | FRAMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -28.82% | -33.94% | +5.12% |
Max Drawdown (1Y)Largest decline over 1 year | -9.49% | -3.45% | -6.04% |
Max Drawdown (5Y)Largest decline over 5 years | -24.21% | -16.31% | -7.90% |
Max Drawdown (10Y)Largest decline over 10 years | -28.82% | -16.31% | -12.51% |
Current DrawdownCurrent decline from peak | -7.77% | -3.20% | -4.57% |
Average DrawdownAverage peak-to-trough decline | -4.04% | -3.87% | -0.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.09% | 0.86% | +1.23% |
Volatility
TLZIX vs. FRAMX - Volatility Comparison
TIAA-CREF Lifecycle Index 2040 Fund (TLZIX) has a higher volatility of 4.18% compared to Fidelity Advisor Managed Retirement Income Fund Class A (FRAMX) at 1.96%. This indicates that TLZIX'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
| TLZIX | FRAMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.18% | 1.96% | +2.22% |
Volatility (6M)Calculated over the trailing 6-month period | 7.43% | 2.86% | +4.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.17% | 4.59% | +8.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.79% | 5.21% | +7.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.89% | 4.47% | +9.42% |