TRRKX vs. FRAMX
Compare and contrast key facts about T. Rowe Price Retirement 2045 Fund (TRRKX) and Fidelity Advisor Managed Retirement Income Fund Class A (FRAMX).
TRRKX is managed by T. Rowe Price. It was launched on May 30, 2005. FRAMX is managed by BlackRock. It was launched on Aug 30, 2007.
Performance
TRRKX vs. FRAMX - Performance Comparison
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TRRKX vs. FRAMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TRRKX T. Rowe Price Retirement 2045 Fund | -0.98% | 14.20% | 13.94% | 20.52% | -19.03% | 15.80% | 18.64% | 25.41% | -7.66% | 22.42% |
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, TRRKX achieves a -0.98% return, which is significantly lower than FRAMX's -0.57% return. Over the past 10 years, TRRKX has outperformed FRAMX with an annualized return of 10.01%, while FRAMX has yielded a comparatively lower 3.65% annualized return.
TRRKX
- 1D
- 2.69%
- 1M
- -6.33%
- YTD
- -0.98%
- 6M
- -2.18%
- 1Y
- 12.52%
- 3Y*
- 13.48%
- 5Y*
- 6.29%
- 10Y*
- 10.01%
FRAMX
- 1D
- 0.26%
- 1M
- -2.81%
- YTD
- -0.57%
- 6M
- 0.42%
- 1Y
- 6.49%
- 3Y*
- 5.66%
- 5Y*
- 2.13%
- 10Y*
- 3.65%
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TRRKX vs. FRAMX - Expense Ratio Comparison
TRRKX has a 0.63% expense ratio, which is lower than FRAMX's 0.70% expense ratio.
Return for Risk
TRRKX vs. FRAMX — Risk / Return Rank
TRRKX
FRAMX
TRRKX vs. FRAMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Retirement 2045 Fund (TRRKX) 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.
| TRRKX | FRAMX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.82 | 1.50 | -0.68 |
Sortino ratioReturn per unit of downside risk | 1.24 | 2.09 | -0.85 |
Omega ratioGain probability vs. loss probability | 1.18 | 1.30 | -0.11 |
Calmar ratioReturn relative to maximum drawdown | 0.88 | 2.00 | -1.12 |
Martin ratioReturn relative to average drawdown | 3.93 | 8.06 | -4.12 |
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
| TRRKX | FRAMX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.82 | 1.50 | -0.68 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.43 | 0.41 | +0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.66 | 0.82 | -0.16 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.48 | 0.49 | -0.01 |
Correlation
The correlation between TRRKX and FRAMX is 0.86, 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
TRRKX vs. FRAMX - Dividend Comparison
TRRKX has not paid dividends to shareholders, while FRAMX's dividend yield for the trailing twelve months is around 2.91%.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TRRKX T. Rowe Price Retirement 2045 Fund | 0.00% | 0.00% | 1.96% | 4.40% | 7.83% | 5.58% | 4.52% | 5.94% | 8.98% | 3.52% | 3.20% | 4.25% |
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
TRRKX vs. FRAMX - Drawdown Comparison
The maximum TRRKX drawdown since its inception was -53.54%, which is greater than FRAMX's maximum drawdown of -33.94%. Use the drawdown chart below to compare losses from any high point for TRRKX and FRAMX.
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Drawdown Indicators
| TRRKX | FRAMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.54% | -33.94% | -19.60% |
Max Drawdown (1Y)Largest decline over 1 year | -11.43% | -3.45% | -7.98% |
Max Drawdown (5Y)Largest decline over 5 years | -28.75% | -16.31% | -12.44% |
Max Drawdown (10Y)Largest decline over 10 years | -32.48% | -16.31% | -16.17% |
Current DrawdownCurrent decline from peak | -7.05% | -3.20% | -3.85% |
Average DrawdownAverage peak-to-trough decline | -7.26% | -3.87% | -3.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.88% | 0.86% | +2.02% |
Volatility
TRRKX vs. FRAMX - Volatility Comparison
T. Rowe Price Retirement 2045 Fund (TRRKX) has a higher volatility of 5.83% compared to Fidelity Advisor Managed Retirement Income Fund Class A (FRAMX) at 1.96%. This indicates that TRRKX'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
| TRRKX | FRAMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.83% | 1.96% | +3.87% |
Volatility (6M)Calculated over the trailing 6-month period | 9.62% | 2.86% | +6.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.15% | 4.59% | +11.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.88% | 5.21% | +9.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.29% | 4.47% | +10.82% |