FAPTX vs. MLLIX

Last updated Aug 1, 2026

FAPTX (American Funds 2025 Target Date Retirement Fund Class F-1) and MLLIX (MFS Lifetime Income Fund) are both Target Retirement Date funds. Over the past 10 years, FAPTX returned 7.58%/yr vs 4.87%/yr for MLLIX. Their correlation of 0.88 means they have usually moved in the same direction. FAPTX charges 0.67%/yr vs 0.00%/yr for MLLIX.

Performance

FAPTX vs. MLLIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Funds 2025 Target Date Retirement Fund Class F-1 (FAPTX) and MFS Lifetime Income Fund (MLLIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FAPTX achieves a 4.78% return, which is significantly higher than MLLIX's 3.48% return. Over the past 10 years, FAPTX has outperformed MLLIX with an annualized return of 7.58%, while MLLIX has yielded a comparatively lower 4.87% annualized return.

FAPTX

• 1D: 0.54%
• 1M: -0.36%
• 6M: 2.97%
• YTD: 4.78%
• 1Y: 10.72%
• 3Y*: 10.59%
• 5Y*: 5.45%
• 10Y*: 7.58%
• ALL TIME*: 7.00%

MLLIX

• 1D: 0.32%
• 1M: -0.32%
• 6M: 2.18%
• YTD: 3.48%
• 1Y: 7.47%
• 3Y*: 7.16%
• 5Y*: 3.05%
• 10Y*: 4.87%
• ALL TIME*: 5.07%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FAPTX American Funds 2025 Target Date Retirement Fund Class F-1	$0.00	$0.00	$0.00
MLLIX MFS Lifetime Income Fund	$0.00	$0.00	$0.00

FAPTX vs. MLLIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FAPTX American Funds 2025 Target Date Retirement Fund Class F-1	4.78%	14.15%	8.89%	11.63%	-13.11%	11.03%	13.39%	17.28%	-3.76%	14.97%
MLLIX MFS Lifetime Income Fund	3.48%	9.32%	5.62%	9.12%	-11.99%	6.63%	10.06%	13.91%	-2.37%	8.24%

Correlation

The correlation between FAPTX and MLLIX is 0.88, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.88
Correlation (3Y) Balances recent behavior with more history.	0.89
Correlation (5Y) Shows whether the relationship held over a longer period.	0.91
Correlation (10Y) Provides a long-term view across more market conditions.	0.89
Correlation (All Time) Calculated using the full available price history since Feb 24, 2014	0.88

The correlation between FAPTX and MLLIX has been stable across timeframes, ranging from 0.88 to 0.91 - a consistent structural relationship.

Return for Risk

FAPTX vs. MLLIX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FAPTX

FAPTX Risk / Return Rank: 62
FAPTX Sharpe Ratio Rank: 65
FAPTX Sortino Ratio Rank: 65
FAPTX Omega Ratio Rank: 66
FAPTX Calmar Ratio Rank: 48
FAPTX Martin Ratio Rank: 64

MLLIX

MLLIX Risk / Return Rank: 66
MLLIX Sharpe Ratio Rank: 70
MLLIX Sortino Ratio Rank: 72
MLLIX Omega Ratio Rank: 69
MLLIX Calmar Ratio Rank: 51
MLLIX Martin Ratio Rank: 66

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FAPTX vs. MLLIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Funds 2025 Target Date Retirement Fund Class F-1 (FAPTX) and MFS Lifetime Income Fund (MLLIX). 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.

	FAPTX	MLLIX	Difference
Sharpe ratio: Return per unit of total volatility	1.63	1.69	-0.07
Sortino ratio: Return per unit of downside risk	2.33	2.51	-0.18
Omega ratio: Gain probability vs. loss probability	1.30	1.31	-0.01
Calmar ratio: Return relative to maximum drawdown	1.93	1.97	-0.04
Martin ratio: Return relative to average drawdown	8.48	8.67	-0.20

FAPTX vs. MLLIX - Sharpe Ratio Comparison

The current FAPTX Sharpe Ratio is 1.63, which is comparable to the MLLIX Sharpe Ratio of 1.69. The chart below compares the historical Sharpe Ratios of FAPTX and MLLIX, 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

FAPTX vs. MLLIX - Drawdown Comparison

The maximum FAPTX drawdown since its inception was -19.23%, which is greater than MLLIX's maximum drawdown of -17.32%. Use the drawdown chart below to compare losses from any high point for FAPTX and MLLIX.

Drawdown Indicators

	FAPTX	MLLIX	Difference
Max Drawdown Largest peak-to-trough decline	-19.23%	-17.32%	-1.91%
Max Drawdown (1Y) Largest decline over 1 year	-5.35%	-3.86%	-1.49%
Max Drawdown (3Y) Largest decline over 3 years	-6.52%	-4.93%	-1.59%
Max Drawdown (5Y) Largest decline over 5 years	-19.05%	-16.08%	-2.97%
Max Drawdown (10Y) Largest decline over 10 years	-19.23%	-16.08%	-3.15%
Current Drawdown Current decline from peak	-0.66%	-0.64%	-0.02%
Average Drawdown Average peak-to-trough decline	-2.95%	-2.14%	-0.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.22%	0.88%	+0.34%

Volatility

FAPTX vs. MLLIX - Volatility Comparison

American Funds 2025 Target Date Retirement Fund Class F-1 (FAPTX) has a higher volatility of 1.47% compared to MFS Lifetime Income Fund (MLLIX) at 1.06%. This indicates that FAPTX's price experiences larger fluctuations and is considered to be riskier than MLLIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FAPTX	MLLIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.47%	1.06%	+0.41%
Volatility (6M) Calculated over the trailing 6-month period	5.19%	3.66%	+1.53%
Volatility (1Y) Calculated over the trailing 1-year period	6.38%	4.51%	+1.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.24%	5.95%	+2.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.89%	5.71%	+3.18%

FAPTX vs. MLLIX - Expense Ratio Comparison

FAPTX has a 0.67% expense ratio, which is higher than MLLIX's 0.00% expense ratio.

Dividends

FAPTX vs. MLLIX - Dividend Comparison

FAPTX's dividend yield for the trailing twelve months is around 7.07%, less than MLLIX's 7.43% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FAPTX American Funds 2025 Target Date Retirement Fund Class F-1	7.07%	7.41%	5.22%	3.04%	3.96%	6.26%	3.63%	3.69%	4.08%	2.40%	3.30%	5.92%
MLLIX MFS Lifetime Income Fund	7.43%	6.01%	6.26%	3.70%	3.92%	6.12%	3.18%	3.80%	4.20%	3.56%	4.21%	2.51%

Frequently Asked Questions

Can I hold both FAPTX and MLLIX in my portfolio?

FAPTX and MLLIX have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FAPTX or MLLIX?

FAPTX has higher volatility (1.47%) compared to MLLIX (1.06%). In terms of maximum drawdown, FAPTX dropped -19.23% vs MLLIX's -17.32%.

Which has better risk-adjusted returns?

MLLIX currently has the higher Sharpe Ratio (1.69 vs 1.63), 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.