FAZAX vs. FRQKX

Last updated Jul 22, 2026

FAZAX (Fidelity Advisor Freedom Blend 2065 Fund Class A) and FRQKX (Fidelity Managed Retirement 2010 Fund Class K) are both Target Retirement Date funds. A 0.80 correlation means they provide meaningful diversification when combined. FAZAX charges 0.74%/yr vs 0.36%/yr for FRQKX.

Performance

FAZAX vs. FRQKX - Performance Comparison

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

Returns By Period

FAZAX

• 1D: -0.52%
• 1M: -3.01%
• 6M: 9.20%
• YTD: 11.01%
• 1Y: 21.59%
• 3Y*: 17.12%
• 5Y*: 9.14%
• 10Y*: —
• ALL TIME*: 11.92%

FRQKX

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

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

FAZAX vs. FRQKX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FAZAX Fidelity Advisor Freedom Blend 2065 Fund Class A	11.01%	22.31%	13.25%	20.15%	-19.21%	15.88%	17.57%	8.69%
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 FAZAX 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	0.77
Correlation (5Y) Calculated over the trailing 5-year period	0.77
Correlation (All Time) Calculated using the full available price history since Aug 1, 2019	0.80

The correlation between FAZAX and FRQKX has been stable across timeframes, ranging from 0.77 to 0.80 - a consistent structural relationship.

Return for Risk

FAZAX vs. FRQKX — Risk / Return Rank

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

FAZAX

FAZAX Risk / Return Rank: 59
FAZAX Sharpe Ratio Rank: 56
FAZAX Sortino Ratio Rank: 54
FAZAX Omega Ratio Rank: 56
FAZAX Calmar Ratio Rank: 60
FAZAX Martin Ratio Rank: 70

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.

FAZAX vs. FRQKX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Freedom Blend 2065 Fund Class A (FAZAX) 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.

	FAZAX	FRQKX	Difference
Sharpe ratio: Return per unit of total volatility	1.57	—	—
Sortino ratio: Return per unit of downside risk	2.19	—	—
Omega ratio: Gain probability vs. loss probability	1.29	—	—
Calmar ratio: Return relative to maximum drawdown	2.27	—	—
Martin ratio: Return relative to average drawdown	9.66	—	—

Drawdowns

Drawdown Indicators

	FAZAX	FRQKX	Difference
Max Drawdown Largest peak-to-trough decline	-31.37%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-9.67%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-15.52%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-27.94%	—	—
Current Drawdown Current decline from peak	-3.01%	—	—
Average Drawdown Average peak-to-trough decline	-6.08%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	2.27%	—	—

Volatility

Volatility by Period

	FAZAX	FRQKX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.31%	—	—
Volatility (6M) Calculated over the trailing 6-month period	12.08%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	14.04%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.31%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.24%	—	—

FAZAX vs. FRQKX - Expense Ratio Comparison

FAZAX has a 0.74% expense ratio, which is higher than FRQKX's 0.36% expense ratio.

Dividends

FAZAX vs. FRQKX - Dividend Comparison

FAZAX's dividend yield for the trailing twelve months is around 3.20%, less than FRQKX's 3.28% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
FAZAX Fidelity Advisor Freedom Blend 2065 Fund Class A	3.20%	2.33%	2.69%	1.80%	5.18%	6.68%	3.33%	2.75%
FRQKX Fidelity Managed Retirement 2010 Fund Class K	3.28%	3.09%	2.91%	2.86%	5.12%	6.11%	3.61%	2.57%

Frequently Asked Questions

Can I hold both FAZAX and FRQKX in my portfolio?

FAZAX 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.