FIKFX vs. FIRMX

Last updated Jun 4, 2026

FIKFX (Fidelity Freedom Index Income Fund Investor Class) and FIRMX (Fidelity Managed Retirement Income Fund) are both Target Retirement Date funds. Over the past 10 years, FIKFX returned 4.24%/yr vs 4.21%/yr for FIRMX. Their correlation of 0.92 suggests significant overlap in exposure. FIKFX charges 0.12%/yr vs 0.45%/yr for FIRMX.

Performance

FIKFX vs. FIRMX - Performance Comparison

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

Returns By Period

The year-to-date returns for both stocks are quite close, with FIKFX having a 4.19% return and FIRMX slightly lower at 4.04%. Both investments have delivered pretty close results over the past 10 years, with FIKFX having a 4.24% annualized return and FIRMX not far behind at 4.21%.

FIKFX

• 1D: 0.08%
• 1M: 1.67%
• YTD: 4.19%
• 6M: 4.33%
• 1Y: 10.42%
• 3Y*: 7.66%
• 5Y*: 3.25%
• 10Y*: 4.24%

FIRMX

• 1D: 0.20%
• 1M: 1.54%
• YTD: 4.04%
• 6M: 4.26%
• 1Y: 10.41%
• 3Y*: 7.59%
• 5Y*: 2.91%
• 10Y*: 4.21%

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

FIKFX vs. FIRMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FIKFX Fidelity Freedom Index Income Fund Investor Class	4.19%	9.23%	4.96%	8.28%	-11.09%	2.79%	8.54%	10.59%	-0.76%	6.66%
FIRMX Fidelity Managed Retirement Income Fund	4.04%	9.95%	4.29%	8.07%	-11.66%	2.77%	8.57%	10.57%	-1.80%	7.08%

Correlation

The correlation between FIKFX and FIRMX is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.97
Correlation (3Y) Calculated over the trailing 3-year period	0.98
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Oct 6, 2009	0.92

The correlation between FIKFX and FIRMX has been stable across timeframes, ranging from 0.92 to 0.98 - a consistent structural relationship.

Return for Risk

FIKFX vs. FIRMX — Risk / Return Rank

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

FIKFX

FIKFX Risk / Return Rank: 77
FIKFX Sharpe Ratio Rank: 81
FIKFX Sortino Ratio Rank: 83
FIKFX Omega Ratio Rank: 81
FIKFX Calmar Ratio Rank: 67
FIKFX Martin Ratio Rank: 74

FIRMX

FIRMX Risk / Return Rank: 72
FIRMX Sharpe Ratio Rank: 76
FIRMX Sortino Ratio Rank: 78
FIRMX Omega Ratio Rank: 77
FIRMX Calmar Ratio Rank: 63
FIRMX Martin Ratio Rank: 66

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.

FIKFX vs. FIRMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Freedom Index Income Fund Investor Class (FIKFX) and Fidelity Managed Retirement Income Fund (FIRMX). 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.

	FIKFX	FIRMX	Difference
Sharpe ratio Return per unit of total volatility	2.63	2.52	+0.11
Sortino ratio Return per unit of downside risk	3.92	3.71	+0.21
Omega ratio Gain probability vs. loss probability	1.54	1.50	+0.03
Calmar ratio Return relative to maximum drawdown	3.15	3.04	+0.11
Martin ratio Return relative to average drawdown	14.03	12.98	+1.05
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FIKFX vs. FIRMX - Sharpe Ratio Comparison

The current FIKFX Sharpe Ratio is 2.63, which is comparable to the FIRMX Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of FIKFX and FIRMX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FIKFX	FIRMX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.63	2.52	+0.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.64	0.55	+0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.96	0.94	+0.02
Sharpe Ratio (All Time) Calculated using the full available price history	1.01	0.55	+0.46

Drawdowns

FIKFX vs. FIRMX - Drawdown Comparison

The maximum FIKFX drawdown since its inception was -15.03%, smaller than the maximum FIRMX drawdown of -33.73%. Use the drawdown chart below to compare losses from any high point for FIKFX and FIRMX.

Drawdown Indicators

	FIKFX	FIRMX	Difference
Max Drawdown Largest peak-to-trough decline	-15.03%	-33.73%	+18.70%
Max Drawdown (1Y) Largest decline over 1 year	-3.32%	-3.44%	+0.12%
Max Drawdown (3Y) Largest decline over 3 years	-4.76%	-4.96%	+0.20%
Max Drawdown (5Y) Largest decline over 5 years	-15.03%	-16.11%	+1.08%
Max Drawdown (10Y) Largest decline over 10 years	-15.03%	-16.11%	+1.08%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-1.72%	-3.71%	+1.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.74%	0.81%	-0.07%

Volatility

FIKFX vs. FIRMX - Volatility Comparison

The current volatility for Fidelity Freedom Index Income Fund Investor Class (FIKFX) is 1.49%, while Fidelity Managed Retirement Income Fund (FIRMX) has a volatility of 1.65%. This indicates that FIKFX experiences smaller price fluctuations and is considered to be less risky than FIRMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FIKFX	FIRMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.49%	1.65%	-0.16%
Volatility (6M) Calculated over the trailing 6-month period	3.31%	3.42%	-0.11%
Volatility (1Y) Calculated over the trailing 1-year period	3.98%	4.16%	-0.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.12%	5.28%	-0.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.44%	4.51%	-0.07%

FIKFX vs. FIRMX - Expense Ratio Comparison

FIKFX has a 0.12% expense ratio, which is lower than FIRMX's 0.45% expense ratio.

Dividends

FIKFX vs. FIRMX - Dividend Comparison

FIKFX's dividend yield for the trailing twelve months is around 3.19%, more than FIRMX's 3.09% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIKFX Fidelity Freedom Index Income Fund Investor Class	3.19%	3.40%	3.13%	2.85%	3.06%	2.04%	2.18%	7.27%	2.94%	1.89%	1.65%	1.39%
FIRMX Fidelity Managed Retirement Income Fund	3.09%	3.13%	3.02%	2.81%	4.54%	3.56%	2.48%	2.59%	4.65%	8.57%	1.67%	1.68%

Frequently Asked Questions

Can I hold both FIKFX and FIRMX in my portfolio?

With a correlation of 0.97, FIKFX and FIRMX 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, FIKFX or FIRMX?

FIRMX has higher volatility (1.65%) compared to FIKFX (1.49%). In terms of maximum drawdown, FIKFX dropped -15.03% vs FIRMX's -33.73%.

Which has better risk-adjusted returns?

FIKFX currently has the higher Sharpe Ratio (2.63 vs 2.52), 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.