TRRNX vs. FRQIX
TRRNX (T. Rowe Price Retirement 2055 Fund) and FRQIX (Fidelity Advisor Managed Retirement 2010 Fund Class I) are both Target Retirement Date funds. Over the past 10 years, TRRNX returned 11.21%/yr vs 4.98%/yr for FRQIX. Their correlation of 0.89 suggests significant overlap in exposure. TRRNX charges 0.65%/yr vs 0.46%/yr for FRQIX.
Performance
TRRNX vs. FRQIX - Performance Comparison
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Returns By Period
In the year-to-date period, TRRNX achieves a 11.35% return, which is significantly higher than FRQIX's 3.60% return. Over the past 10 years, TRRNX has outperformed FRQIX with an annualized return of 11.21%, while FRQIX has yielded a comparatively lower 4.98% annualized return.
TRRNX
- 1D
- 1.16%
- 1M
- 1.32%
- YTD
- 11.35%
- 6M
- 11.10%
- 1Y
- 21.21%
- 3Y*
- 16.10%
- 5Y*
- 8.53%
- 10Y*
- 11.21%
FRQIX
- 1D
- 0.00%
- 1M
- 0.65%
- YTD
- 3.60%
- 6M
- 3.74%
- 1Y
- 9.41%
- 3Y*
- 7.28%
- 5Y*
- 2.83%
- 10Y*
- 4.98%
TRRNX vs. FRQIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TRRNX T. Rowe Price Retirement 2055 Fund | 11.35% | 14.33% | 14.24% | 20.88% | -19.17% | 17.42% | 18.54% | 25.40% | -7.70% | 20.78% |
FRQIX Fidelity Advisor Managed Retirement 2010 Fund Class I | 3.60% | 9.97% | 4.48% | 8.52% | -12.39% | 3.82% | 9.58% | 12.63% | -2.84% | 10.64% |
Correlation
The correlation between TRRNX and FRQIX 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 | 0.72 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.72 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since Aug 30, 2007 | 0.89 |
The correlation between TRRNX and FRQIX shifts across timeframes, from 0.72 (3 years) to 0.89 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
TRRNX vs. FRQIX — Risk / Return Rank
TRRNX
FRQIX
TRRNX vs. FRQIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Retirement 2055 Fund (TRRNX) and Fidelity Advisor Managed Retirement 2010 Fund Class I (FRQIX). 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.
| TRRNX | FRQIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.54 | ||
| Sortino ratioReturn per unit of downside risk | -0.87 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.44 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 2.18 | 2.75 | -0.57 |
| Martin ratioReturn relative to average drawdown | 8.96 | 11.51 | -2.55 |
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Drawdowns
TRRNX vs. FRQIX - Drawdown Comparison
The maximum TRRNX drawdown since its inception was -53.59%, which is greater than FRQIX's maximum drawdown of -38.01%. Use the drawdown chart below to compare losses from any high point for TRRNX and FRQIX.
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Drawdown Indicators
| TRRNX | FRQIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.59% | -38.01% | -15.58% |
Max Drawdown (1Y)Largest decline over 1 year | -9.84% | -3.43% | -6.41% |
Max Drawdown (3Y)Largest decline over 3 years | -15.61% | -5.21% | -10.40% |
Max Drawdown (5Y)Largest decline over 5 years | -28.03% | -17.04% | -10.99% |
Max Drawdown (10Y)Largest decline over 10 years | -32.54% | -17.04% | -15.50% |
Current DrawdownCurrent decline from peak | -0.47% | -0.42% | -0.05% |
Average DrawdownAverage peak-to-trough decline | -7.56% | -4.42% | -3.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.37% | 0.82% | +1.55% |
Volatility
TRRNX vs. FRQIX - Volatility Comparison
T. Rowe Price Retirement 2055 Fund (TRRNX) has a higher volatility of 4.92% compared to Fidelity Advisor Managed Retirement 2010 Fund Class I (FRQIX) at 1.78%. This indicates that TRRNX's price experiences larger fluctuations and is considered to be riskier than FRQIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TRRNX | FRQIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.92% | 1.78% | +3.14% |
Volatility (6M)Calculated over the trailing 6-month period | 11.11% | 3.68% | +7.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.21% | 4.35% | +8.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.43% | 5.60% | +9.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.60% | 5.34% | +10.26% |
TRRNX vs. FRQIX - Expense Ratio Comparison
TRRNX has a 0.65% expense ratio, which is higher than FRQIX's 0.46% expense ratio.
Dividends
TRRNX vs. FRQIX - Dividend Comparison
TRRNX has not paid dividends to shareholders, while FRQIX's dividend yield for the trailing twelve months is around 3.22%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FRQIX Fidelity Advisor Managed Retirement 2010 Fund Class I | 3.22% | 3.14% | 2.97% | 2.75% | 5.01% | 6.00% | 3.51% | 3.14% | 5.60% | 16.32% | 2.43% | 4.08% |
TRRNX T. Rowe Price Retirement 2055 Fund | 0.00% | 0.00% | 1.77% | 3.81% | 7.01% | 5.83% | 3.40% | 5.41% | 7.55% | 2.12% | 2.62% | 3.50% |
Frequently Asked Questions
TRRNX and FRQIX 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.
TRRNX has higher volatility (4.92%) compared to FRQIX (1.78%). In terms of maximum drawdown, TRRNX dropped -53.59% vs FRQIX's -38.01%.
FRQIX currently has the higher Sharpe Ratio (2.16 vs 1.62), 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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