FARSX vs. FRQKX

Last updated Jul 18, 2026

FARSX (Fidelity Advisor Managed Retirement 2015 Fund Class A) and FRQKX (Fidelity Managed Retirement 2010 Fund Class K) are both Target Retirement Date funds from BlackRock. With a 0.99 correlation, they move nearly in lockstep. FARSX charges 0.71%/yr vs 0.36%/yr for FRQKX.

Performance

FARSX vs. FRQKX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Managed Retirement 2015 Fund Class A (FARSX) and Fidelity Managed Retirement 2010 Fund Class K (FRQKX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FARSX

• 1D: 0.00%
• 1M: 0.00%
• 6M: 3.06%
• YTD: 4.14%
• 1Y: 9.14%
• 3Y*: 8.01%
• 5Y*: 2.90%
• 10Y*: 5.61%

FRQKX

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FARSX vs. FRQKX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FARSX Fidelity Advisor Managed Retirement 2015 Fund Class A	4.14%	10.71%	4.91%	9.25%	-13.76%	5.06%	10.62%	4.54%
FRQKX Fidelity Managed Retirement 2010 Fund Class K	3.66%	9.91%	4.42%	8.62%	-12.30%	3.95%	9.68%	3.94%

Correlation

The correlation between FARSX and FRQKX is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.99
Correlation (3Y) Calculated over the trailing 3-year period	0.99
Correlation (5Y) Calculated over the trailing 5-year period	0.99
Correlation (All Time) Calculated using the full available price history since Aug 1, 2019	0.99

The correlation between FARSX and FRQKX has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.

Return for Risk

FARSX vs. FRQKX — Risk / Return Rank

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

FARSX

FARSX Risk / Return Rank: 66
FARSX Sharpe Ratio Rank: 67
FARSX Sortino Ratio Rank: 68
FARSX Omega Ratio Rank: 75
FARSX Calmar Ratio Rank: 55
FARSX Martin Ratio Rank: 63

FRQKX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

FARSX vs. FRQKX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Managed Retirement 2015 Fund Class A (FARSX) 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.

	FARSX	FRQKX	Difference
Sharpe ratio: Return per unit of total volatility	1.85	—	—
Sortino ratio: Return per unit of downside risk	2.66	—	—
Omega ratio: Gain probability vs. loss probability	1.37	—	—
Calmar ratio: Return relative to maximum drawdown	2.35	—	—
Martin ratio: Return relative to average drawdown	9.82	—	—

Drawdowns

Drawdown Indicators

	FARSX	FRQKX	Difference
Max Drawdown Largest peak-to-trough decline	-40.28%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-3.95%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-6.03%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-18.75%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-18.75%	—	—
Current Drawdown Current decline from peak	-0.50%	—	—
Average Drawdown Average peak-to-trough decline	-5.02%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	0.94%	—	—

Volatility

Volatility by Period

	FARSX	FRQKX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.84%	—	—
Volatility (6M) Calculated over the trailing 6-month period	4.26%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	5.03%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.41%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.30%	—	—

FARSX vs. FRQKX - Expense Ratio Comparison

FARSX has a 0.71% expense ratio, which is higher than FRQKX's 0.36% expense ratio.

Dividends

FARSX vs. FRQKX - Dividend Comparison

FARSX's dividend yield for the trailing twelve months is around 2.66%, less than FRQKX's 3.28% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FARSX Fidelity Advisor Managed Retirement 2015 Fund Class A	2.66%	2.63%	2.64%	2.32%	4.65%	4.97%	3.17%	3.05%	6.06%	23.98%	1.80%	4.22%
FRQKX Fidelity Managed Retirement 2010 Fund Class K	3.28%	3.09%	2.91%	2.86%	5.12%	6.11%	3.61%	2.57%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FARSX and FRQKX in my portfolio?

With a correlation of 0.99, FARSX and FRQKX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.