FHFDX vs. FRHMX

Last updated Aug 4, 2026

FHFDX (Fidelity Freedom Blend 2045 Fund Class K6) and FRHMX (Fidelity Managed Retirement Income Fund Class K6) are both Target Retirement Date funds. Their 0.74 correlation means they have sometimes moved together and sometimes differently. FHFDX charges 0.29%/yr vs 0.25%/yr for FRHMX.

Performance

FHFDX vs. FRHMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Freedom Blend 2045 Fund Class K6 (FHFDX) and Fidelity Managed Retirement Income Fund Class K6 (FRHMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FHFDX

• 1D: 0.42%
• 1M: -0.60%
• 6M: 7.86%
• YTD: 12.23%
• 1Y: 24.65%
• 3Y*: 18.74%
• 5Y*: 10.27%
• 10Y*: —
• ALL TIME*: 11.81%

FRHMX

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

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FHFDX Fidelity Freedom Blend 2045 Fund Class K6	$0.00	$0.00	$0.00

FHFDX vs. FRHMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FHFDX Fidelity Freedom Blend 2045 Fund Class K6	12.23%	22.90%	16.61%	20.71%	-18.89%	16.43%	18.08%	8.87%
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 FHFDX and FRHMX is 0.79, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.79
Correlation (3Y) Balances recent behavior with more history.	0.75
Correlation (5Y) Shows whether the relationship held over a longer period.	0.74
Correlation (All Time) Calculated using the full available price history since Aug 1, 2019	0.74

The correlation between FHFDX and FRHMX has been stable across timeframes, ranging from 0.74 to 0.79 - a consistent structural relationship.

Return for Risk

FHFDX vs. FRHMX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FHFDX

FHFDX Risk / Return Rank: 70
FHFDX Sharpe Ratio Rank: 67
FHFDX Sortino Ratio Rank: 65
FHFDX Omega Ratio Rank: 66
FHFDX Calmar Ratio Rank: 73
FHFDX Martin Ratio Rank: 81

FRHMX

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

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FHFDX vs. FRHMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Freedom Blend 2045 Fund Class K6 (FHFDX) 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.

	FHFDX	FRHMX	Difference
Sharpe ratio: Return per unit of total volatility	1.68	—	—
Sortino ratio: Return per unit of downside risk	2.36	—	—
Omega ratio: Gain probability vs. loss probability	1.31	—	—
Calmar ratio: Return relative to maximum drawdown	2.50	—	—
Martin ratio: Return relative to average drawdown	10.41	—	—

Drawdowns

Drawdown Indicators

	FHFDX	FRHMX	Difference
Max Drawdown Largest peak-to-trough decline	-31.28%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-9.40%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-15.56%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-27.68%	—	—
Current Drawdown Current decline from peak	-1.77%	—	—
Average Drawdown Average peak-to-trough decline	-5.75%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	2.25%	—	—

Volatility

Volatility by Period

	FHFDX	FRHMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.16%	—	—
Volatility (6M) Calculated over the trailing 6-month period	11.92%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	13.98%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.31%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.89%	—	—

FHFDX vs. FRHMX - Expense Ratio Comparison

FHFDX has a 0.29% expense ratio, which is higher than FRHMX's 0.25% expense ratio.

Dividends

FHFDX vs. FRHMX - Dividend Comparison

FHFDX's dividend yield for the trailing twelve months is around 3.64%, less than FRHMX's 102.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
FHFDX Fidelity Freedom Blend 2045 Fund Class K6	3.64%	2.73%	4.97%	2.00%	6.36%	8.51%	5.00%	3.40%	3.21%
FRHMX Fidelity Managed Retirement Income Fund Class K6	102.60%	3.22%	3.24%	3.02%	4.77%	3.78%	2.61%	1.95%	0.00%

Frequently Asked Questions

Can I hold both FHFDX and FRHMX in my portfolio?

FHFDX and FRHMX have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.