FAXDX vs. FRHMX

Last updated Jul 22, 2026

FAXDX (Fidelity Advisor Freedom Blend 2065 Fund Class C) and FRHMX (Fidelity Managed Retirement Income Fund Class K6) are both Target Retirement Date funds. A 0.74 correlation means they provide meaningful diversification when combined. FAXDX charges 1.49%/yr vs 0.25%/yr for FRHMX.

Performance

FAXDX vs. FRHMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Freedom Blend 2065 Fund Class C (FAXDX) and Fidelity Managed Retirement Income Fund Class K6 (FRHMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FAXDX

• 1D: -0.53%
• 1M: -3.07%
• 6M: 8.83%
• YTD: 10.53%
• 1Y: 20.70%
• 3Y*: 16.27%
• 5Y*: 8.33%
• 10Y*: —
• ALL TIME*: 11.09%

FRHMX

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

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

FAXDX vs. FRHMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FAXDX Fidelity Advisor Freedom Blend 2065 Fund Class C	10.53%	21.43%	12.44%	19.15%	-19.79%	15.05%	16.72%	8.26%
FRHMX Fidelity Managed Retirement Income Fund Class K6	1,464,383.96%	10.02%	4.50%	8.28%	-11.48%	2.98%	8.79%	3.17%

Correlation

The correlation between FAXDX and FRHMX is 0.80, 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	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.76
Correlation (5Y) Calculated over the trailing 5-year period	0.74
Correlation (All Time) Calculated using the full available price history since Aug 1, 2019	0.74

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

Return for Risk

FAXDX vs. FRHMX — Risk / Return Rank

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

FAXDX

FAXDX Risk / Return Rank: 54
FAXDX Sharpe Ratio Rank: 52
FAXDX Sortino Ratio Rank: 49
FAXDX Omega Ratio Rank: 51
FAXDX Calmar Ratio Rank: 55
FAXDX Martin Ratio Rank: 64

FRHMX

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.

FAXDX vs. FRHMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Freedom Blend 2065 Fund Class C (FAXDX) and Fidelity Managed Retirement Income Fund Class K6 (FRHMX). 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.

	FAXDX	FRHMX	Difference
Sharpe ratio: Return per unit of total volatility	1.50	—	—
Sortino ratio: Return per unit of downside risk	2.11	—	—
Omega ratio: Gain probability vs. loss probability	1.28	—	—
Calmar ratio: Return relative to maximum drawdown	2.16	—	—
Martin ratio: Return relative to average drawdown	9.17	—	—

Drawdowns

Drawdown Indicators

	FAXDX	FRHMX	Difference
Max Drawdown Largest peak-to-trough decline	-31.43%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-9.77%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-15.65%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-28.43%	—	—
Current Drawdown Current decline from peak	-3.07%	—	—
Average Drawdown Average peak-to-trough decline	-6.36%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	2.29%	—	—

Volatility

Volatility by Period

	FAXDX	FRHMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.31%	—	—
Volatility (6M) Calculated over the trailing 6-month period	12.05%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	14.05%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.31%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.26%	—	—

FAXDX vs. FRHMX - Expense Ratio Comparison

FAXDX has a 1.49% expense ratio, which is higher than FRHMX's 0.25% expense ratio.

Dividends

FAXDX vs. FRHMX - Dividend Comparison

FAXDX's dividend yield for the trailing twelve months is around 2.79%, less than FRHMX's 102.92% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
FAXDX Fidelity Advisor Freedom Blend 2065 Fund Class C	2.79%	1.85%	2.17%	1.27%	4.61%	6.13%	2.83%	2.45%
FRHMX Fidelity Managed Retirement Income Fund Class K6	102.92%	3.22%	3.24%	3.02%	4.77%	3.78%	2.61%	1.95%

Frequently Asked Questions

Can I hold both FAXDX and FRHMX in my portfolio?

FAXDX and FRHMX 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.