TRTGX vs. FRIMX
TRTGX (T. Rowe Price Target 2060 Fund) and FRIMX (Fidelity Advisor Managed Retirement Income Fund Class I) are both Target Retirement Date funds. Over the past 10 years, TRTGX returned 11.26%/yr vs 4.19%/yr for FRIMX. A 0.75 correlation means they provide meaningful diversification when combined. TRTGX charges 0.90%/yr vs 0.45%/yr for FRIMX.
Performance
TRTGX vs. FRIMX - Performance Comparison
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Returns By Period
In the year-to-date period, TRTGX achieves a 11.21% return, which is significantly higher than FRIMX's 3.59% return. Over the past 10 years, TRTGX has outperformed FRIMX with an annualized return of 11.26%, while FRIMX has yielded a comparatively lower 4.19% annualized return.
TRTGX
- 1D
- 1.15%
- 1M
- 1.56%
- YTD
- 11.21%
- 6M
- 12.53%
- 1Y
- 25.90%
- 3Y*
- 17.34%
- 5Y*
- 9.05%
- 10Y*
- 11.26%
FRIMX
- 1D
- 0.00%
- 1M
- 0.68%
- YTD
- 3.59%
- 6M
- 3.81%
- 1Y
- 9.38%
- 3Y*
- 7.18%
- 5Y*
- 2.79%
- 10Y*
- 4.19%
TRTGX vs. FRIMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TRTGX T. Rowe Price Target 2060 Fund | 11.21% | 18.65% | 14.02% | 20.48% | -19.56% | 17.04% | 16.62% | 25.06% | -7.86% | 20.84% |
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 TRTGX 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 Jun 24, 2014 | 0.75 |
The correlation between TRTGX and FRIMX shifts across timeframes, from 0.69 (5 years) to 0.81 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
TRTGX vs. FRIMX — Risk / Return Rank
TRTGX
FRIMX
TRTGX vs. FRIMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Target 2060 Fund (TRTGX) 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.
| TRTGX | FRIMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.14 | ||
| Sortino ratioReturn per unit of downside risk | -0.31 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.44 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.70 | 2.74 | -0.04 |
| Martin ratioReturn relative to average drawdown | 11.57 | 11.47 | +0.10 |
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Drawdowns
TRTGX vs. FRIMX - Drawdown Comparison
The maximum TRTGX drawdown since its inception was -32.56%, roughly equal to the maximum FRIMX drawdown of -33.73%. Use the drawdown chart below to compare losses from any high point for TRTGX and FRIMX.
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Drawdown Indicators
| TRTGX | FRIMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.56% | -33.73% | +1.17% |
Max Drawdown (1Y)Largest decline over 1 year | -9.79% | -3.44% | -6.35% |
Max Drawdown (3Y)Largest decline over 3 years | -16.06% | -4.97% | -11.09% |
Max Drawdown (5Y)Largest decline over 5 years | -28.34% | -16.12% | -12.22% |
Max Drawdown (10Y)Largest decline over 10 years | -32.56% | -16.12% | -16.44% |
Current DrawdownCurrent decline from peak | -0.49% | -0.44% | -0.05% |
Average DrawdownAverage peak-to-trough decline | -5.27% | -3.70% | -1.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.25% | 0.82% | +1.43% |
Volatility
TRTGX vs. FRIMX - Volatility Comparison
T. Rowe Price Target 2060 Fund (TRTGX) has a higher volatility of 4.99% compared to Fidelity Advisor Managed Retirement Income Fund Class I (FRIMX) at 1.77%. This indicates that TRTGX'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
| TRTGX | FRIMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.99% | 1.77% | +3.22% |
Volatility (6M)Calculated over the trailing 6-month period | 10.85% | 3.68% | +7.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.02% | 4.35% | +8.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.40% | 5.32% | +10.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.61% | 4.54% | +11.07% |
TRTGX vs. FRIMX - Expense Ratio Comparison
TRTGX has a 0.90% expense ratio, which is higher than FRIMX's 0.45% expense ratio.
Dividends
TRTGX vs. FRIMX - Dividend Comparison
TRTGX's dividend yield for the trailing twelve months is around 3.77%, more than FRIMX's 3.24% yield.
| 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% |
TRTGX T. Rowe Price Target 2060 Fund | 3.77% | 4.19% | 2.23% | 2.72% | 4.90% | 3.23% | 0.78% | 4.03% | 5.44% | 2.90% | 2.54% | 2.63% |
Frequently Asked Questions
TRTGX 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.
TRTGX has higher volatility (4.99%) compared to FRIMX (1.77%). In terms of maximum drawdown, TRTGX dropped -32.56% vs FRIMX's -33.73%.
FRIMX currently has the higher Sharpe Ratio (2.16 vs 2.03), 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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