FDFRX vs. FRKMX

Last updated Jul 18, 2026

FDFRX (Fidelity Advisor Freedom 2065 Fund Class Z6) and FRKMX (Fidelity Managed Retirement Income Fund Class K) are both Target Retirement Date funds. A 0.74 correlation means they provide meaningful diversification when combined. FDFRX charges 0.50%/yr vs 0.35%/yr for FRKMX.

Performance

FDFRX vs. FRKMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Freedom 2065 Fund Class Z6 (FDFRX) and Fidelity Managed Retirement Income Fund Class K (FRKMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FDFRX

• 1D: -0.91%
• 1M: -0.43%
• 6M: 8.25%
• YTD: 11.60%
• 1Y: 21.76%
• 3Y*: 18.11%
• 5Y*: 9.97%
• 10Y*: —

FRKMX

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

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

FDFRX vs. FRKMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FDFRX Fidelity Advisor Freedom 2065 Fund Class Z6	11.60%	23.33%	13.96%	19.65%	-17.97%	16.29%	17.56%	8.78%
FRKMX Fidelity Managed Retirement Income Fund Class K	15,640,638.04%	9.91%	4.40%	8.17%	-11.57%	2.88%	8.68%	3.08%

Correlation

The correlation between FDFRX and FRKMX is 0.81, 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	0.81
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 FDFRX and FRKMX has been stable across timeframes, ranging from 0.74 to 0.81 - a consistent structural relationship.

Return for Risk

FDFRX vs. FRKMX — Risk / Return Rank

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

FDFRX

FDFRX Risk / Return Rank: 50
FDFRX Sharpe Ratio Rank: 48
FDFRX Sortino Ratio Rank: 45
FDFRX Omega Ratio Rank: 47
FDFRX Calmar Ratio Rank: 50
FDFRX Martin Ratio Rank: 61

FRKMX

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.

FDFRX vs. FRKMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Freedom 2065 Fund Class Z6 (FDFRX) and Fidelity Managed Retirement Income Fund Class K (FRKMX). 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.

	FDFRX	FRKMX	Difference
Sharpe ratio: Return per unit of total volatility	1.61	—	—
Sortino ratio: Return per unit of downside risk	2.24	—	—
Omega ratio: Gain probability vs. loss probability	1.30	—	—
Calmar ratio: Return relative to maximum drawdown	2.29	—	—
Martin ratio: Return relative to average drawdown	9.73	—	—

Drawdowns

Drawdown Indicators

	FDFRX	FRKMX	Difference
Max Drawdown Largest peak-to-trough decline	-31.27%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-9.88%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-15.04%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-27.11%	—	—
Current Drawdown Current decline from peak	-1.87%	—	—
Average Drawdown Average peak-to-trough decline	-5.90%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	2.32%	—	—

Volatility

Volatility by Period

	FDFRX	FRKMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.39%	—	—
Volatility (6M) Calculated over the trailing 6-month period	12.18%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	14.11%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.22%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.18%	—	—

FDFRX vs. FRKMX - Expense Ratio Comparison

FDFRX has a 0.50% expense ratio, which is higher than FRKMX's 0.35% expense ratio.

Dividends

FDFRX vs. FRKMX - Dividend Comparison

FDFRX's dividend yield for the trailing twelve months is around 5.98%, less than FRKMX's 103.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
FDFRX Fidelity Advisor Freedom 2065 Fund Class Z6	5.98%	4.97%	2.19%	2.14%	9.00%	6.96%	2.80%	1.67%
FRKMX Fidelity Managed Retirement Income Fund Class K	103.22%	3.11%	3.12%	2.92%	4.66%	3.65%	2.56%	1.85%

Frequently Asked Questions

Can I hold both FDFRX and FRKMX in my portfolio?

FDFRX and FRKMX have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.