FIJPX vs. FRQKX

Last updated Aug 1, 2026

FIJPX (Fidelity Advisor Freedom 2040 Fund Class Z) and FRQKX (Fidelity Managed Retirement 2010 Fund Class K) are both Target Retirement Date funds. Their correlation of 0.80 means they have usually moved in the same direction. FIJPX charges 0.65%/yr vs 0.36%/yr for FRQKX.

Performance

FIJPX vs. FRQKX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Freedom 2040 Fund Class Z (FIJPX) and Fidelity Managed Retirement 2010 Fund Class K (FRQKX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FIJPX

• 1D: 1.95%
• 1M: -1.18%
• 6M: 5.91%
• YTD: 9.27%
• 1Y: 19.36%
• 3Y*: 16.82%
• 5Y*: 9.13%
• 10Y*: —
• ALL TIME*: 11.77%

FRQKX

• 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)
FIJPX Fidelity Advisor Freedom 2040 Fund Class Z	$0.00	$0.00	$0.00

FIJPX vs. FRQKX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FIJPX Fidelity Advisor Freedom 2040 Fund Class Z	9.27%	21.53%	15.94%	18.82%	-17.99%	16.18%	17.64%	8.69%
FRQKX Fidelity Managed Retirement 2010 Fund Class K	3.66%	9.91%	4.42%	8.62%	-12.30%	3.95%	9.68%	3.94%

Correlation

The correlation between FIJPX and FRQKX 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.	0.78
Correlation (5Y) Shows whether the relationship held over a longer period.	0.78
Correlation (All Time) Calculated using the full available price history since Aug 1, 2019	0.80

The correlation between FIJPX and FRQKX has been stable across timeframes, ranging from 0.78 to 0.80 - a consistent structural relationship.

Return for Risk

FIJPX vs. FRQKX — Risk / Return Rank

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

FIJPX

FIJPX Risk / Return Rank: 51
FIJPX Sharpe Ratio Rank: 47
FIJPX Sortino Ratio Rank: 46
FIJPX Omega Ratio Rank: 47
FIJPX Calmar Ratio Rank: 53
FIJPX Martin Ratio Rank: 61

FRQKX

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.

FIJPX vs. FRQKX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Freedom 2040 Fund Class Z (FIJPX) and Fidelity Managed Retirement 2010 Fund Class K (FRQKX). 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.

	FIJPX	FRQKX	Difference
Sharpe ratio: Return per unit of total volatility	1.41	—	—
Sortino ratio: Return per unit of downside risk	2.00	—	—
Omega ratio: Gain probability vs. loss probability	1.26	—	—
Calmar ratio: Return relative to maximum drawdown	2.05	—	—
Martin ratio: Return relative to average drawdown	8.39	—	—

Drawdowns

Drawdown Indicators

	FIJPX	FRQKX	Difference
Max Drawdown Largest peak-to-trough decline	-31.24%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-8.78%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-13.82%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-27.16%	—	—
Current Drawdown Current decline from peak	-2.32%	—	—
Average Drawdown Average peak-to-trough decline	-5.61%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	2.14%	—	—

Volatility

Volatility by Period

	FIJPX	FRQKX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.88%	—	—
Volatility (6M) Calculated over the trailing 6-month period	10.99%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	12.79%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.51%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.49%	—	—

FIJPX vs. FRQKX - Expense Ratio Comparison

FIJPX has a 0.65% expense ratio, which is higher than FRQKX's 0.36% expense ratio.

Dividends

FIJPX vs. FRQKX - Dividend Comparison

FIJPX's dividend yield for the trailing twelve months is around 8.07%, more than FRQKX's 3.28% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
FIJPX Fidelity Advisor Freedom 2040 Fund Class Z	8.07%	7.33%	5.64%	1.57%	11.35%	10.17%	6.11%	7.53%	7.39%
FRQKX Fidelity Managed Retirement 2010 Fund Class K	2.96%	3.09%	2.91%	2.86%	5.12%	6.11%	3.61%	2.57%	0.00%

Frequently Asked Questions

Can I hold both FIJPX and FRQKX in my portfolio?

FIJPX and FRQKX 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.