AAEFX vs. FRQKX

Last updated Jun 27, 2026

AAEFX (American Century One Choice Blend+ 2060 Portfolio) and FRQKX (Fidelity Managed Retirement 2010 Fund Class K) are both Target Retirement Date funds. Over the past 5 years, AAEFX returned 8.49%/yr vs 2.83%/yr for FRQKX. A 0.74 correlation means they provide meaningful diversification when combined. AAEFX charges 0.58%/yr vs 0.36%/yr for FRQKX.

Performance

AAEFX vs. FRQKX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Century One Choice Blend+ 2060 Portfolio (AAEFX) and Fidelity Managed Retirement 2010 Fund Class K (FRQKX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AAEFX achieves a 9.36% return, which is significantly higher than FRQKX's 3.66% return.

AAEFX

• 1D: 0.36%
• 1M: -1.13%
• YTD: 9.36%
• 6M: 8.35%
• 1Y: 22.07%
• 3Y*: 17.93%
• 5Y*: 8.49%
• 10Y*: —

FRQKX

• 1D: 0.00%
• 1M: 0.09%
• YTD: 3.66%
• 6M: 3.47%
• 1Y: 8.27%
• 3Y*: 7.28%
• 5Y*: 2.83%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AAEFX vs. FRQKX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
AAEFX American Century One Choice Blend+ 2060 Portfolio	9.36%	20.22%	15.24%	16.92%	-16.95%	9.49%
FRQKX Fidelity Managed Retirement 2010 Fund Class K	3.66%	9.91%	4.42%	8.62%	-12.30%	4.10%

Correlation

The correlation between AAEFX and FRQKX is 0.80, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.74
Correlation (5Y) Calculated over the trailing 5-year period	0.74
Correlation (All Time) Calculated using the full available price history since Mar 10, 2021	0.74

The correlation between AAEFX and FRQKX has been stable across timeframes, ranging from 0.74 to 0.80 - a consistent structural relationship.

Return for Risk

AAEFX vs. FRQKX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AAEFX

AAEFX Risk / Return Rank: 58
AAEFX Sharpe Ratio Rank: 59
AAEFX Sortino Ratio Rank: 56
AAEFX Omega Ratio Rank: 55
AAEFX Calmar Ratio Rank: 56
AAEFX Martin Ratio Rank: 66

FRQKX

FRQKX Risk / Return Rank: 79
FRQKX Sharpe Ratio Rank: 80
FRQKX Sortino Ratio Rank: 81
FRQKX Omega Ratio Rank: 82
FRQKX Calmar Ratio Rank: 73
FRQKX Martin Ratio Rank: 78

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AAEFX vs. FRQKX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Century One Choice Blend+ 2060 Portfolio (AAEFX) and Fidelity Managed Retirement 2010 Fund Class K (FRQKX). 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.

	AAEFX	FRQKX	Difference
Sharpe ratio: Return per unit of total volatility	1.86	2.23	-0.37
Sortino ratio: Return per unit of downside risk	2.57	3.23	-0.66
Omega ratio: Gain probability vs. loss probability	1.34	1.45	-0.12
Calmar ratio: Return relative to maximum drawdown	2.49	2.84	-0.36
Martin ratio: Return relative to average drawdown	10.69	11.89	-1.20

AAEFX vs. FRQKX - Sharpe Ratio Comparison

The current AAEFX Sharpe Ratio is 1.86, which is comparable to the FRQKX Sharpe Ratio of 2.23. The chart below compares the historical Sharpe Ratios of AAEFX and FRQKX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AAEFX vs. FRQKX - Drawdown Comparison

The maximum AAEFX drawdown since its inception was -26.07%, which is greater than FRQKX's maximum drawdown of -16.97%. Use the drawdown chart below to compare losses from any high point for AAEFX and FRQKX.

Drawdown Indicators

	AAEFX	FRQKX	Difference
Max Drawdown Largest peak-to-trough decline	-26.07%	-16.97%	-9.10%
Max Drawdown (1Y) Largest decline over 1 year	-9.32%	-3.42%	-5.90%
Max Drawdown (3Y) Largest decline over 3 years	-15.99%	-5.17%	-10.82%
Max Drawdown (5Y) Largest decline over 5 years	-26.07%	-16.97%	-9.10%
Current Drawdown Current decline from peak	-1.89%	-0.42%	-1.47%
Average Drawdown Average peak-to-trough decline	-6.49%	-3.84%	-2.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.17%	0.82%	+1.35%

Volatility

AAEFX vs. FRQKX - Volatility Comparison

American Century One Choice Blend+ 2060 Portfolio (AAEFX) has a higher volatility of 4.74% compared to Fidelity Managed Retirement 2010 Fund Class K (FRQKX) at 2.02%. This indicates that AAEFX's price experiences larger fluctuations and is considered to be riskier than FRQKX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AAEFX	FRQKX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.74%	2.02%	+2.72%
Volatility (6M) Calculated over the trailing 6-month period	10.24%	3.71%	+6.53%
Volatility (1Y) Calculated over the trailing 1-year period	12.49%	4.37%	+8.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.93%	5.60%	+9.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.72%	5.78%	+8.94%

AAEFX vs. FRQKX - Expense Ratio Comparison

AAEFX has a 0.58% expense ratio, which is higher than FRQKX's 0.36% expense ratio.

Dividends

AAEFX vs. FRQKX - Dividend Comparison

AAEFX's dividend yield for the trailing twelve months is around 3.11%, less than FRQKX's 3.42% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
AAEFX American Century One Choice Blend+ 2060 Portfolio	3.11%	3.40%	3.00%	2.06%	2.54%	3.01%	0.00%	0.00%
FRQKX Fidelity Managed Retirement 2010 Fund Class K	3.42%	3.09%	2.91%	2.86%	5.12%	6.11%	3.61%	2.57%

Frequently Asked Questions

Can I hold both AAEFX and FRQKX in my portfolio?

AAEFX and FRQKX have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AAEFX or FRQKX?

AAEFX has higher volatility (4.74%) compared to FRQKX (2.02%). In terms of maximum drawdown, AAEFX dropped -26.07% vs FRQKX's -16.97%.

Which has better risk-adjusted returns?

FRQKX currently has the higher Sharpe Ratio (2.23 vs 1.86), 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.