AAOTX vs. FRQKX

Last updated Apr 2, 2026

Compare and contrast key facts about American Funds 2065 Target Date Retirement Fund Class A (AAOTX) and Fidelity Managed Retirement 2010 Fund Class K (FRQKX).

AAOTX is managed by American Funds. FRQKX is managed by BlackRock. It was launched on Aug 1, 2019.

Performance

AAOTX vs. FRQKX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Funds 2065 Target Date Retirement Fund Class A (AAOTX) and Fidelity Managed Retirement 2010 Fund Class K (FRQKX). The values are adjusted to include any dividend payments, if applicable.

AAOTX vs. FRQKX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
AAOTX American Funds 2065 Target Date Retirement Fund Class A	-3.44%	20.36%	15.20%	21.16%	-19.94%	16.85%	46.68%
FRQKX Fidelity Managed Retirement 2010 Fund Class K	0.27%	9.91%	4.42%	8.62%	-12.30%	3.95%	16.81%

Returns By Period

In the year-to-date period, AAOTX achieves a -3.44% return, which is significantly lower than FRQKX's 0.27% return.

AAOTX

• 1D: 2.76%
• 1M: -6.48%
• YTD: -3.44%
• 6M: -0.89%
• 1Y: 18.05%
• 3Y*: 15.12%
• 5Y*: 7.56%
• 10Y*: —

FRQKX

• 1D: 0.75%
• 1M: -2.06%
• YTD: 0.27%
• 6M: 1.34%
• 1Y: 7.69%
• 3Y*: 6.38%
• 5Y*: 2.56%
• 10Y*: —

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

AAOTX vs. FRQKX - Expense Ratio Comparison

AAOTX has a 0.73% expense ratio, which is higher than FRQKX's 0.36% expense ratio.

AAOTX

American Funds 2065 Target Date Retirement Fund Class A

FRQKX

Fidelity Managed Retirement 2010 Fund Class K

Return for Risk

AAOTX vs. FRQKX — Risk / Return Rank

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

AAOTX

AAOTX Risk / Return Rank: 62
AAOTX Sharpe Ratio Rank: 59
AAOTX Sortino Ratio Rank: 62
AAOTX Omega Ratio Rank: 57
AAOTX Calmar Ratio Rank: 66
AAOTX Martin Ratio Rank: 68

FRQKX

FRQKX Risk / Return Rank: 84
FRQKX Sharpe Ratio Rank: 84
FRQKX Sortino Ratio Rank: 85
FRQKX Omega Ratio Rank: 82
FRQKX Calmar Ratio Rank: 84
FRQKX Martin Ratio Rank: 83

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.

AAOTX vs. FRQKX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Funds 2065 Target Date Retirement Fund Class A (AAOTX) 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.

	AAOTX	FRQKX	Difference
Sharpe ratio Return per unit of total volatility	1.22	1.73	-0.51
Sortino ratio Return per unit of downside risk	1.82	2.42	-0.60
Omega ratio Gain probability vs. loss probability	1.26	1.35	-0.09
Calmar ratio Return relative to maximum drawdown	1.81	2.37	-0.56
Martin ratio Return relative to average drawdown	7.73	9.37	-1.64
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AAOTX vs. FRQKX - Sharpe Ratio Comparison

The current AAOTX Sharpe Ratio is 1.22, which is comparable to the FRQKX Sharpe Ratio of 1.73. The chart below compares the historical Sharpe Ratios of AAOTX and FRQKX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	AAOTX	FRQKX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.22	1.73	-0.51
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.52	0.47	+0.05
Sharpe Ratio (All Time) Calculated using the full available price history	0.95	0.70	+0.25

Correlation

The correlation between AAOTX and FRQKX is 0.77, 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

AAOTX vs. FRQKX - Dividend Comparison

AAOTX's dividend yield for the trailing twelve months is around 4.56%, more than FRQKX's 3.24% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019
AAOTX American Funds 2065 Target Date Retirement Fund Class A	4.56%	4.41%	2.52%	1.71%	3.67%	1.34%	0.60%	0.00%
FRQKX Fidelity Managed Retirement 2010 Fund Class K	3.24%	3.09%	2.91%	2.86%	5.12%	6.11%	3.61%	2.57%

Drawdowns

AAOTX vs. FRQKX - Drawdown Comparison

The maximum AAOTX drawdown since its inception was -27.57%, which is greater than FRQKX's maximum drawdown of -16.97%. Use the drawdown chart below to compare losses from any high point for AAOTX and FRQKX.

Drawdown Indicators

	AAOTX	FRQKX	Difference
Max Drawdown Largest peak-to-trough decline	-27.57%	-16.97%	-10.60%
Max Drawdown (1Y) Largest decline over 1 year	-10.23%	-3.42%	-6.81%
Max Drawdown (5Y) Largest decline over 5 years	-27.57%	-16.97%	-10.60%
Current Drawdown Current decline from peak	-7.33%	-2.45%	-4.88%
Average Drawdown Average peak-to-trough decline	-6.16%	-3.95%	-2.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.39%	0.86%	+1.53%

Volatility

AAOTX vs. FRQKX - Volatility Comparison

American Funds 2065 Target Date Retirement Fund Class A (AAOTX) has a higher volatility of 5.61% compared to Fidelity Managed Retirement 2010 Fund Class K (FRQKX) at 2.14%. This indicates that AAOTX'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

	AAOTX	FRQKX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.61%	2.14%	+3.47%
Volatility (6M) Calculated over the trailing 6-month period	9.43%	2.96%	+6.47%
Volatility (1Y) Calculated over the trailing 1-year period	15.33%	4.67%	+10.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.62%	5.53%	+9.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.10%	5.77%	+9.33%