FIRFX vs. FRBHX

Last updated Jul 18, 2026

FIRFX (Fidelity Advisor Managed Retirement 2025 Fund Class I) and FRBHX (Fidelity Freedom® 2070 Fund Class K6) are both Target Retirement Date funds. Their correlation of 0.88 suggests significant overlap in exposure. FIRFX charges 0.48%/yr vs 0.45%/yr for FRBHX.

Performance

FIRFX vs. FRBHX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Managed Retirement 2025 Fund Class I (FIRFX) and Fidelity Freedom® 2070 Fund Class K6 (FRBHX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FIRFX

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

FRBHX

• 1D: -0.80%
• 1M: -0.37%
• 6M: 9.40%
• YTD: 12.86%
• 1Y: 24.36%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FIRFX vs. FRBHX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FIRFX Fidelity Advisor Managed Retirement 2025 Fund Class I	4.52%	13.43%	2.43%
FRBHX Fidelity Freedom® 2070 Fund Class K6	12.86%	23.65%	3.64%

Correlation

The correlation between FIRFX and FRBHX is 0.86, 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	0.86
Correlation (All Time) Calculated using the full available price history since Jul 3, 2024	0.88

The correlation between FIRFX and FRBHX has been stable across timeframes, ranging from 0.86 to 0.88 - a consistent structural relationship.

Return for Risk

FIRFX vs. FRBHX — Risk / Return Rank

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

FIRFX

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

FRBHX

FRBHX Risk / Return Rank: 63
FRBHX Sharpe Ratio Rank: 60
FRBHX Sortino Ratio Rank: 57
FRBHX Omega Ratio Rank: 59
FRBHX Calmar Ratio Rank: 66
FRBHX Martin Ratio Rank: 75

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.

FIRFX vs. FRBHX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Managed Retirement 2025 Fund Class I (FIRFX) and Fidelity Freedom® 2070 Fund Class K6 (FRBHX). 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.

	FIRFX	FRBHX	Difference
Sharpe ratio: Return per unit of total volatility	—	1.79	—
Sortino ratio: Return per unit of downside risk	—	2.46	—
Omega ratio: Gain probability vs. loss probability	—	1.33	—
Calmar ratio: Return relative to maximum drawdown	—	2.58	—
Martin ratio: Return relative to average drawdown	—	11.09	—

Drawdowns

Drawdown Indicators

	FIRFX	FRBHX	Difference
Max Drawdown Largest peak-to-trough decline	—	-15.29%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-9.77%	—
Current Drawdown Current decline from peak	—	-1.88%	—
Average Drawdown Average peak-to-trough decline	—	-1.76%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.27%	—

Volatility

Volatility by Period

	FIRFX	FRBHX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.43%	—
Volatility (6M) Calculated over the trailing 6-month period	—	12.15%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	14.13%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	16.02%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	16.02%	—

FIRFX vs. FRBHX - Expense Ratio Comparison

FIRFX has a 0.48% expense ratio, which is higher than FRBHX's 0.45% expense ratio.

Dividends

FIRFX vs. FRBHX - Dividend Comparison

FIRFX's dividend yield for the trailing twelve months is around 3.58%, less than FRBHX's 4.24% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIRFX Fidelity Advisor Managed Retirement 2025 Fund Class I	3.58%	2.66%	2.56%	2.43%	4.63%	5.08%	3.57%	3.80%	7.10%	24.68%	2.44%	4.49%
FRBHX Fidelity Freedom® 2070 Fund Class K6	4.24%	2.53%	2.42%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FIRFX and FRBHX in my portfolio?

FIRFX and FRBHX have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.