FHLDX vs. FRIMX

Last updated Jun 26, 2026

FHLDX (Fidelity Freedom Blend 2025 Fund Class K6) and FRIMX (Fidelity Advisor Managed Retirement Income Fund Class I) are both Target Retirement Date funds. Over the past 5 years, FHLDX returned 5.51%/yr vs 2.73%/yr for FRIMX. Their correlation of 0.86 suggests significant overlap in exposure. FHLDX charges 0.25%/yr vs 0.45%/yr for FRIMX.

Performance

FHLDX vs. FRIMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Freedom Blend 2025 Fund Class K6 (FHLDX) and Fidelity Advisor Managed Retirement Income Fund Class I (FRIMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FHLDX achieves a 7.36% return, which is significantly higher than FRIMX's 3.59% return.

FHLDX

• 1D: 0.31%
• 1M: 0.08%
• YTD: 7.36%
• 6M: 6.92%
• 1Y: 16.53%
• 3Y*: 12.72%
• 5Y*: 5.51%
• 10Y*: —

FRIMX

• 1D: 0.00%
• 1M: 0.12%
• YTD: 3.59%
• 6M: 3.41%
• 1Y: 8.56%
• 3Y*: 7.33%
• 5Y*: 2.73%
• 10Y*: 4.26%

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

FHLDX vs. FRIMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FHLDX Fidelity Freedom Blend 2025 Fund Class K6	7.36%	16.12%	8.06%	14.26%	-16.93%	9.94%	14.49%	20.17%	-7.30%
FRIMX Fidelity Advisor Managed Retirement Income Fund Class I	3.59%	9.94%	4.30%	8.06%	-11.66%	2.78%	8.57%	10.57%	-2.37%

Correlation

The correlation between FHLDX and FRIMX is 0.91, 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	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.88
Correlation (All Time) Calculated using the full available price history since Sep 4, 2018	0.86

The correlation between FHLDX and FRIMX has been stable across timeframes, ranging from 0.86 to 0.91 - a consistent structural relationship.

Return for Risk

FHLDX vs. FRIMX — Risk / Return Rank

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

FHLDX

FHLDX Risk / Return Rank: 67
FHLDX Sharpe Ratio Rank: 66
FHLDX Sortino Ratio Rank: 65
FHLDX Omega Ratio Rank: 70
FHLDX Calmar Ratio Rank: 65
FHLDX Martin Ratio Rank: 72

FRIMX

FRIMX Risk / Return Rank: 67
FRIMX Sharpe Ratio Rank: 69
FRIMX Sortino Ratio Rank: 71
FRIMX Omega Ratio Rank: 75
FRIMX Calmar Ratio Rank: 57
FRIMX Martin Ratio Rank: 63

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.

FHLDX vs. FRIMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Freedom Blend 2025 Fund Class K6 (FHLDX) and Fidelity Advisor Managed Retirement Income Fund Class I (FRIMX). 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.

	FHLDX	FRIMX	Difference
Sharpe ratio: Return per unit of total volatility	1.93	2.00	-0.06
Sortino ratio: Return per unit of downside risk	2.73	2.89	-0.16
Omega ratio: Gain probability vs. loss probability	1.38	1.40	-0.03
Calmar ratio: Return relative to maximum drawdown	2.63	2.51	+0.12
Martin ratio: Return relative to average drawdown	11.28	10.52	+0.76

FHLDX vs. FRIMX - Sharpe Ratio Comparison

The current FHLDX Sharpe Ratio is 1.93, which is comparable to the FRIMX Sharpe Ratio of 2.00. The chart below compares the historical Sharpe Ratios of FHLDX and FRIMX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FHLDX vs. FRIMX - Drawdown Comparison

The maximum FHLDX drawdown since its inception was -23.79%, smaller than the maximum FRIMX drawdown of -33.73%. Use the drawdown chart below to compare losses from any high point for FHLDX and FRIMX.

Drawdown Indicators

	FHLDX	FRIMX	Difference
Max Drawdown Largest peak-to-trough decline	-23.79%	-33.73%	+9.94%
Max Drawdown (1Y) Largest decline over 1 year	-6.33%	-3.44%	-2.89%
Max Drawdown (3Y) Largest decline over 3 years	-8.96%	-4.97%	-3.99%
Max Drawdown (5Y) Largest decline over 5 years	-23.79%	-16.12%	-7.67%
Max Drawdown (10Y) Largest decline over 10 years	—	-16.12%	—
Current Drawdown Current decline from peak	-1.20%	-0.44%	-0.76%
Average Drawdown Average peak-to-trough decline	-4.96%	-3.70%	-1.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.47%	0.82%	+0.65%

Volatility

FHLDX vs. FRIMX - Volatility Comparison

Fidelity Freedom Blend 2025 Fund Class K6 (FHLDX) has a higher volatility of 3.80% compared to Fidelity Advisor Managed Retirement Income Fund Class I (FRIMX) at 1.67%. This indicates that FHLDX's price experiences larger fluctuations and is considered to be riskier than FRIMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FHLDX	FRIMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.80%	1.67%	+2.13%
Volatility (6M) Calculated over the trailing 6-month period	7.39%	3.67%	+3.72%
Volatility (1Y) Calculated over the trailing 1-year period	8.66%	4.34%	+4.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.12%	5.32%	+4.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.95%	4.52%	+6.43%

FHLDX vs. FRIMX - Expense Ratio Comparison

FHLDX has a 0.25% expense ratio, which is lower than FRIMX's 0.45% expense ratio.

Dividends

FHLDX vs. FRIMX - Dividend Comparison

FHLDX's dividend yield for the trailing twelve months is around 3.42%, more than FRIMX's 3.24% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FHLDX Fidelity Freedom Blend 2025 Fund Class K6	3.42%	2.60%	2.43%	2.47%	5.87%	6.79%	4.40%	3.16%	2.23%	0.00%	0.00%	0.00%
FRIMX Fidelity Advisor Managed Retirement Income Fund Class I	3.24%	3.11%	3.01%	2.82%	4.52%	3.54%	2.41%	2.56%	4.67%	8.56%	1.67%	1.68%

Frequently Asked Questions

Can I hold both FHLDX and FRIMX in my portfolio?

With a correlation of 0.91, FHLDX and FRIMX 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.

Which is riskier, FHLDX or FRIMX?

FHLDX has higher volatility (3.80%) compared to FRIMX (1.67%). In terms of maximum drawdown, FHLDX dropped -23.79% vs FRIMX's -33.73%.

Which has better risk-adjusted returns?

FRIMX currently has the higher Sharpe Ratio (2.00 vs 1.93), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.