FHAHX vs. FRHMX

Last updated Jul 16, 2026

FHAHX (Fidelity Advisor Freedom Blend Income Fund Class Z) and FRHMX (Fidelity Managed Retirement Income Fund Class K6) are both Target Retirement Date funds. With a 0.97 correlation, they move nearly in lockstep. FHAHX charges 0.31%/yr vs 0.25%/yr for FRHMX.

Performance

FHAHX vs. FRHMX - Performance Comparison

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

Returns By Period

FHAHX

• 1D: 0.28%
• 1M: -0.83%
• 6M: 3.10%
• YTD: 4.29%
• 1Y: 9.37%
• 3Y*: 7.35%
• 5Y*: 2.80%
• 10Y*: —

FRHMX

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

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

FHAHX vs. FRHMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FHAHX Fidelity Advisor Freedom Blend Income Fund Class Z	4.29%	10.12%	4.21%	8.20%	-11.60%	2.88%	8.69%	3.24%
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 FHAHX and FRHMX is 0.93, 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	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (5Y) Calculated over the trailing 5-year period	0.98
Correlation (All Time) Calculated using the full available price history since Aug 1, 2019	0.97

The correlation between FHAHX and FRHMX has been stable across timeframes, ranging from 0.93 to 0.98 - a consistent structural relationship.

Return for Risk

FHAHX vs. FRHMX — Risk / Return Rank

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

FHAHX

FHAHX Risk / Return Rank: 70
FHAHX Sharpe Ratio Rank: 69
FHAHX Sortino Ratio Rank: 70
FHAHX Omega Ratio Rank: 74
FHAHX Calmar Ratio Rank: 66
FHAHX Martin Ratio Rank: 73

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.

FHAHX vs. FRHMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Freedom Blend Income Fund Class Z (FHAHX) 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.

	FHAHX	FRHMX	Difference
Sharpe ratio: Return per unit of total volatility	1.81	—	—
Sortino ratio: Return per unit of downside risk	2.59	—	—
Omega ratio: Gain probability vs. loss probability	1.36	—	—
Calmar ratio: Return relative to maximum drawdown	2.48	—	—
Martin ratio: Return relative to average drawdown	10.45	—	—

Drawdowns

Drawdown Indicators

	FHAHX	FRHMX	Difference
Max Drawdown Largest peak-to-trough decline	-16.02%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-3.71%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-5.00%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-16.02%	—	—
Current Drawdown Current decline from peak	-0.83%	—	—
Average Drawdown Average peak-to-trough decline	-3.21%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	0.88%	—	—

Volatility

Volatility by Period

	FHAHX	FRHMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.85%	—	—
Volatility (6M) Calculated over the trailing 6-month period	4.51%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	5.07%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.53%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.06%	—	—

FHAHX vs. FRHMX - Expense Ratio Comparison

FHAHX has a 0.31% expense ratio, which is higher than FRHMX's 0.25% expense ratio.

Dividends

FHAHX vs. FRHMX - Dividend Comparison

FHAHX's dividend yield for the trailing twelve months is around 2.94%, less than FRHMX's 102.92% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
FHAHX Fidelity Advisor Freedom Blend Income Fund Class Z	2.94%	3.26%	3.12%	2.96%	4.70%	4.07%	2.68%	2.43%	1.51%
FRHMX Fidelity Managed Retirement Income Fund Class K6	102.92%	3.22%	3.24%	3.02%	4.77%	3.78%	2.61%	1.95%	0.00%

Frequently Asked Questions

Can I hold both FHAHX and FRHMX in my portfolio?

With a correlation of 0.93, FHAHX and FRHMX 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.