TRRLX vs. FRAMX
Compare and contrast key facts about T. Rowe Price Retirement 2060 Fund (TRRLX) and Fidelity Advisor Managed Retirement Income Fund Class A (FRAMX).
TRRLX is a passively managed fund by T. Rowe Price that tracks the performance of the S&P Target Date 2060 Index. It was launched on Jun 23, 2014. FRAMX is managed by BlackRock. It was launched on Aug 30, 2007.
Performance
TRRLX vs. FRAMX - Performance Comparison
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TRRLX vs. FRAMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TRRLX T. Rowe Price Retirement 2060 Fund | -1.05% | 14.54% | 14.22% | 20.87% | -19.22% | 17.50% | 18.46% | 25.39% | -7.62% | 20.79% |
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, TRRLX achieves a -1.05% return, which is significantly lower than FRAMX's 0.18% return. Over the past 10 years, TRRLX has outperformed FRAMX with an annualized return of 10.09%, while FRAMX has yielded a comparatively lower 3.73% annualized return.
TRRLX
- 1D
- 2.79%
- 1M
- -6.56%
- YTD
- -1.05%
- 6M
- -2.29%
- 1Y
- 12.85%
- 3Y*
- 13.74%
- 5Y*
- 6.69%
- 10Y*
- 10.09%
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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TRRLX vs. FRAMX - Expense Ratio Comparison
TRRLX has a 0.64% expense ratio, which is lower than FRAMX's 0.70% expense ratio.
Return for Risk
TRRLX vs. FRAMX — Risk / Return Rank
TRRLX
FRAMX
TRRLX vs. FRAMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Retirement 2060 Fund (TRRLX) 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.
| TRRLX | FRAMX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.82 | 1.64 | -0.82 |
Sortino ratioReturn per unit of downside risk | 1.24 | 2.30 | -1.05 |
Omega ratioGain probability vs. loss probability | 1.18 | 1.33 | -0.14 |
Calmar ratioReturn relative to maximum drawdown | 0.85 | 2.22 | -1.37 |
Martin ratioReturn relative to average drawdown | 3.78 | 8.81 | -5.03 |
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
| TRRLX | FRAMX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.82 | 1.64 | -0.82 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.44 | 0.42 | +0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.66 | 0.84 | -0.18 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.56 | 0.50 | +0.06 |
Correlation
The correlation between TRRLX and FRAMX is 0.75, 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
TRRLX vs. FRAMX - Dividend Comparison
TRRLX 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TRRLX T. Rowe Price Retirement 2060 Fund | 0.00% | 0.00% | 1.74% | 3.29% | 5.75% | 4.19% | 2.38% | 4.33% | 5.39% | 1.58% | 1.58% | 0.83% |
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
TRRLX vs. FRAMX - Drawdown Comparison
The maximum TRRLX drawdown since its inception was -32.52%, roughly equal to the maximum FRAMX drawdown of -33.94%. Use the drawdown chart below to compare losses from any high point for TRRLX and FRAMX.
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Drawdown Indicators
| TRRLX | FRAMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.52% | -33.94% | +1.42% |
Max Drawdown (1Y)Largest decline over 1 year | -11.71% | -3.45% | -8.26% |
Max Drawdown (5Y)Largest decline over 5 years | -28.09% | -16.31% | -11.78% |
Max Drawdown (10Y)Largest decline over 10 years | -32.52% | -16.31% | -16.21% |
Current DrawdownCurrent decline from peak | -7.30% | -2.47% | -4.83% |
Average DrawdownAverage peak-to-trough decline | -5.23% | -3.86% | -1.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.96% | 0.87% | +2.09% |
Volatility
TRRLX vs. FRAMX - Volatility Comparison
T. Rowe Price Retirement 2060 Fund (TRRLX) has a higher volatility of 6.03% compared to Fidelity Advisor Managed Retirement Income Fund Class A (FRAMX) at 2.14%. This indicates that TRRLX'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
| TRRLX | FRAMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.03% | 2.14% | +3.89% |
Volatility (6M)Calculated over the trailing 6-month period | 9.97% | 2.95% | +7.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.73% | 4.64% | +12.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.22% | 5.22% | +10.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.47% | 4.48% | +10.99% |