TRRMX vs. FRIMX
TRRMX (T. Rowe Price Retirement 2050 Fund) and FRIMX (Fidelity Advisor Managed Retirement Income Fund Class I) are both Target Retirement Date funds. Over the past 10 years, TRRMX returned 11.53%/yr vs 4.26%/yr for FRIMX. Their correlation of 0.85 suggests significant overlap in exposure. TRRMX charges 0.62%/yr vs 0.45%/yr for FRIMX.
Performance
TRRMX vs. FRIMX - Performance Comparison
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Returns By Period
In the year-to-date period, TRRMX achieves a 11.09% return, which is significantly higher than FRIMX's 3.59% return. Over the past 10 years, TRRMX has outperformed FRIMX with an annualized return of 11.53%, while FRIMX has yielded a comparatively lower 4.26% annualized return.
TRRMX
- 1D
- -0.08%
- 1M
- 1.26%
- YTD
- 11.09%
- 6M
- 10.38%
- 1Y
- 20.14%
- 3Y*
- 16.70%
- 5Y*
- 8.20%
- 10Y*
- 11.53%
FRIMX
- 1D
- 0.00%
- 1M
- 0.65%
- YTD
- 3.59%
- 6M
- 3.58%
- 1Y
- 9.08%
- 3Y*
- 7.33%
- 5Y*
- 2.76%
- 10Y*
- 4.26%
TRRMX vs. FRIMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TRRMX T. Rowe Price Retirement 2050 Fund | 11.09% | 14.26% | 14.19% | 20.85% | -19.09% | 17.51% | 18.67% | 25.35% | -7.66% | 20.83% |
FRIMX Fidelity Advisor Managed Retirement Income Fund Class I | 3.59% | 9.94% | 4.30% | 8.06% | -11.66% | 2.78% | 8.57% | 10.57% | -1.82% | 7.08% |
Correlation
The correlation between TRRMX and FRIMX 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 | 0.71 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.69 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.71 |
Correlation (All Time) Calculated using the full available price history since Aug 30, 2007 | 0.85 |
The correlation between TRRMX and FRIMX shifts across timeframes, from 0.69 (5 years) to 0.85 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
TRRMX vs. FRIMX — Risk / Return Rank
TRRMX
FRIMX
TRRMX vs. FRIMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Retirement 2050 Fund (TRRMX) and Fidelity Advisor Managed Retirement Income Fund Class I (FRIMX). 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.
| TRRMX | FRIMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.51 | ||
| Sortino ratioReturn per unit of downside risk | -0.83 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.44 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 2.22 | 2.74 | -0.53 |
| Martin ratioReturn relative to average drawdown | 9.08 | 11.49 | -2.41 |
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Drawdowns
TRRMX vs. FRIMX - Drawdown Comparison
The maximum TRRMX drawdown since its inception was -53.59%, which is greater than FRIMX's maximum drawdown of -33.73%. Use the drawdown chart below to compare losses from any high point for TRRMX and FRIMX.
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Drawdown Indicators
| TRRMX | FRIMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.59% | -33.73% | -19.86% |
Max Drawdown (1Y)Largest decline over 1 year | -9.74% | -3.44% | -6.30% |
Max Drawdown (3Y)Largest decline over 3 years | -15.50% | -4.97% | -10.53% |
Max Drawdown (5Y)Largest decline over 5 years | -27.95% | -16.12% | -11.83% |
Max Drawdown (10Y)Largest decline over 10 years | -32.51% | -16.12% | -16.39% |
Current DrawdownCurrent decline from peak | -0.54% | -0.44% | -0.10% |
Average DrawdownAverage peak-to-trough decline | -7.55% | -3.70% | -3.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.35% | 0.82% | +1.53% |
Volatility
TRRMX vs. FRIMX - Volatility Comparison
T. Rowe Price Retirement 2050 Fund (TRRMX) has a higher volatility of 4.75% compared to Fidelity Advisor Managed Retirement Income Fund Class I (FRIMX) at 1.68%. This indicates that TRRMX's price experiences larger fluctuations and is considered to be riskier than FRIMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TRRMX | FRIMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.75% | 1.68% | +3.07% |
Volatility (6M)Calculated over the trailing 6-month period | 10.95% | 3.68% | +7.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.06% | 4.36% | +8.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.32% | 5.32% | +10.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.53% | 4.54% | +10.99% |
TRRMX vs. FRIMX - Expense Ratio Comparison
TRRMX has a 0.62% expense ratio, which is higher than FRIMX's 0.45% expense ratio.
Dividends
TRRMX vs. FRIMX - Dividend Comparison
TRRMX has not paid dividends to shareholders, while FRIMX's dividend yield for the trailing twelve months is around 3.24%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FRIMX Fidelity Advisor Managed Retirement Income Fund Class I | 3.24% | 3.11% | 3.01% | 2.82% | 4.52% | 3.54% | 2.41% | 2.56% | 4.67% | 8.56% | 1.67% | 1.68% |
TRRMX T. Rowe Price Retirement 2050 Fund | 0.00% | 0.00% | 1.88% | 4.45% | 7.81% | 6.91% | 4.33% | 5.75% | 8.56% | 2.32% | 3.08% | 3.96% |
Frequently Asked Questions
TRRMX and FRIMX 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.
TRRMX has higher volatility (4.75%) compared to FRIMX (1.68%). In terms of maximum drawdown, TRRMX dropped -53.59% vs FRIMX's -33.73%.
FRIMX currently has the higher Sharpe Ratio (2.17 vs 1.66), 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.
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