FHRFX vs. ASFYX

Last updated Jul 11, 2026

FHRFX (Fidelity Managed Retirement 2025 Fund Class K6) and ASFYX (AlphaSimplex Managed Futures Strategy Fund Class Y) are both mutual funds - FHRFX is a Target Retirement Date fund managed by BlackRock, while ASFYX is a Systematic Trend fund managed by BlackRock. At a 0.09 correlation, their price movements are largely independent. FHRFX charges 0.28%/yr vs 1.47%/yr for ASFYX.

Performance

FHRFX vs. ASFYX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Managed Retirement 2025 Fund Class K6 (FHRFX) and AlphaSimplex Managed Futures Strategy Fund Class Y (ASFYX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FHRFX

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

ASFYX

• 1D: 0.48%
• 1M: -1.86%
• 6M: 6.82%
• YTD: 9.30%
• 1Y: 18.97%
• 3Y*: -3.49%
• 5Y*: 2.43%
• 10Y*: 2.10%

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

FHRFX vs. ASFYX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FHRFX Fidelity Managed Retirement 2025 Fund Class K6	4.62%	13.52%	7.26%	12.21%	-15.50%	8.21%	13.45%	5.10%
ASFYX AlphaSimplex Managed Futures Strategy Fund Class Y	9.30%	-9.67%	-3.22%	-10.33%	35.67%	3.52%	13.59%	-0.19%

Correlation

The correlation between FHRFX and ASFYX is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.45
Correlation (3Y) Calculated over the trailing 3-year period	0.24
Correlation (5Y) Calculated over the trailing 5-year period	0.01
Correlation (All Time) Calculated using the full available price history since Aug 1, 2019	0.09

Over the past year, FHRFX and ASFYX have become more correlated (0.45) than their long-term average of 0.09, meaning their price movements have been converging.

Return for Risk

FHRFX vs. ASFYX — Risk / Return Rank

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

FHRFX

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

ASFYX

ASFYX Risk / Return Rank: 51
ASFYX Sharpe Ratio Rank: 47
ASFYX Sortino Ratio Rank: 41
ASFYX Omega Ratio Rank: 43
ASFYX Calmar Ratio Rank: 70
ASFYX Martin Ratio Rank: 52

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.

FHRFX vs. ASFYX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Managed Retirement 2025 Fund Class K6 (FHRFX) and AlphaSimplex Managed Futures Strategy Fund Class Y (ASFYX). 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.

	FHRFX	ASFYX	Difference
Sharpe ratio: Return per unit of total volatility	—	1.54	—
Sortino ratio: Return per unit of downside risk	—	2.06	—
Omega ratio: Gain probability vs. loss probability	—	1.27	—
Calmar ratio: Return relative to maximum drawdown	—	2.57	—
Martin ratio: Return relative to average drawdown	—	8.42	—

Drawdowns

Drawdown Indicators

	FHRFX	ASFYX	Difference
Max Drawdown Largest peak-to-trough decline	—	-36.43%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-7.42%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-30.32%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-36.43%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-36.43%	—
Current Drawdown Current decline from peak	—	-22.44%	—
Average Drawdown Average peak-to-trough decline	—	-13.23%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.26%	—

Volatility

Volatility by Period

	FHRFX	ASFYX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.59%	—
Volatility (6M) Calculated over the trailing 6-month period	—	9.88%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	12.41%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	13.79%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	12.73%	—

FHRFX vs. ASFYX - Expense Ratio Comparison

FHRFX has a 0.28% expense ratio, which is lower than ASFYX's 1.47% expense ratio.

Dividends

FHRFX vs. ASFYX - Dividend Comparison

FHRFX's dividend yield for the trailing twelve months is around 3.83%, more than ASFYX's 1.39% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ASFYX AlphaSimplex Managed Futures Strategy Fund Class Y	1.39%	1.52%	1.46%	0.99%	32.48%	6.07%	3.40%	5.51%	1.30%	0.07%	0.01%	5.06%
FHRFX Fidelity Managed Retirement 2025 Fund Class K6	3.73%	2.79%	3.26%	2.80%	4.93%	5.33%	3.81%	2.64%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FHRFX and ASFYX in my portfolio?

FHRFX and ASFYX have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.