TRRGX vs. FRAMX
Compare and contrast key facts about T. Rowe Price Retirement 2015 Fund (TRRGX) and Fidelity Advisor Managed Retirement Income Fund Class A (FRAMX).
TRRGX is managed by T. Rowe Price. It was launched on Feb 26, 2004. FRAMX is managed by BlackRock. It was launched on Aug 30, 2007.
Performance
TRRGX vs. FRAMX - Performance Comparison
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TRRGX vs. FRAMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TRRGX T. Rowe Price Retirement 2015 Fund | -0.52% | 6.04% | 8.85% | 13.01% | -14.10% | 9.65% | 12.56% | 17.41% | -4.24% | 13.36% |
FRAMX Fidelity Advisor Managed Retirement Income Fund Class A | 0.18% | 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, TRRGX achieves a -0.52% return, which is significantly lower than FRAMX's 0.18% return. Over the past 10 years, TRRGX has outperformed FRAMX with an annualized return of 6.12%, while FRAMX has yielded a comparatively lower 3.73% annualized return.
TRRGX
- 1D
- 1.45%
- 1M
- -3.63%
- YTD
- -0.52%
- 6M
- -4.46%
- 1Y
- 4.00%
- 3Y*
- 7.50%
- 5Y*
- 3.41%
- 10Y*
- 6.12%
FRAMX
- 1D
- 0.75%
- 1M
- -2.08%
- YTD
- 0.18%
- 6M
- 1.18%
- 1Y
- 7.30%
- 3Y*
- 5.92%
- 5Y*
- 2.18%
- 10Y*
- 3.73%
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TRRGX vs. FRAMX - Expense Ratio Comparison
TRRGX has a 0.51% expense ratio, which is lower than FRAMX's 0.70% expense ratio.
Return for Risk
TRRGX vs. FRAMX — Risk / Return Rank
TRRGX
FRAMX
TRRGX vs. FRAMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Retirement 2015 Fund (TRRGX) 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.
| TRRGX | FRAMX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.46 | 1.64 | -1.18 |
Sortino ratioReturn per unit of downside risk | 0.63 | 2.30 | -1.66 |
Omega ratioGain probability vs. loss probability | 1.11 | 1.33 | -0.22 |
Calmar ratioReturn relative to maximum drawdown | 0.50 | 2.22 | -1.72 |
Martin ratioReturn relative to average drawdown | 1.50 | 8.81 | -7.32 |
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
| TRRGX | FRAMX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.46 | 1.64 | -1.18 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.40 | 0.42 | -0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.71 | 0.84 | -0.13 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.54 | 0.50 | +0.04 |
Correlation
The correlation between TRRGX and FRAMX is 0.91, 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
TRRGX vs. FRAMX - Dividend Comparison
TRRGX has not paid dividends to shareholders, while FRAMX's dividend yield for the trailing twelve months is around 2.88%.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TRRGX T. Rowe Price Retirement 2015 Fund | 0.00% | 0.00% | 4.00% | 5.52% | 12.45% | 11.34% | 9.02% | 5.24% | 10.35% | 7.28% | 1.62% | 3.07% |
FRAMX Fidelity Advisor Managed Retirement Income Fund Class A | 2.88% | 2.77% | 2.77% | 2.58% | 4.26% | 3.31% | 2.23% | 2.37% | 4.40% | 8.26% | 1.42% | 1.42% |
Drawdowns
TRRGX vs. FRAMX - Drawdown Comparison
The maximum TRRGX drawdown since its inception was -43.17%, which is greater than FRAMX's maximum drawdown of -33.94%. Use the drawdown chart below to compare losses from any high point for TRRGX and FRAMX.
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Drawdown Indicators
| TRRGX | FRAMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.17% | -33.94% | -9.23% |
Max Drawdown (1Y)Largest decline over 1 year | -7.30% | -3.45% | -3.85% |
Max Drawdown (5Y)Largest decline over 5 years | -19.89% | -16.31% | -3.58% |
Max Drawdown (10Y)Largest decline over 10 years | -21.31% | -16.31% | -5.00% |
Current DrawdownCurrent decline from peak | -5.95% | -2.47% | -3.48% |
Average DrawdownAverage peak-to-trough decline | -4.65% | -3.86% | -0.79% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.45% | 0.87% | +1.58% |
Volatility
TRRGX vs. FRAMX - Volatility Comparison
T. Rowe Price Retirement 2015 Fund (TRRGX) has a higher volatility of 3.20% compared to Fidelity Advisor Managed Retirement Income Fund Class A (FRAMX) at 2.14%. This indicates that TRRGX'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
| TRRGX | FRAMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.20% | 2.14% | +1.06% |
Volatility (6M)Calculated over the trailing 6-month period | 7.02% | 2.95% | +4.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.54% | 4.64% | +4.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.62% | 5.22% | +3.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.66% | 4.48% | +4.18% |