FIRMX vs. FNSHX

Last updated Apr 2, 2026

Compare and contrast key facts about Fidelity Managed Retirement Income Fund (FIRMX) and Fidelity Freedom Income Fund Class K (FNSHX).

FIRMX is managed by BlackRock. It was launched on Aug 30, 2007. FNSHX is managed by Fidelity. It was launched on Jul 20, 2017.

Performance

FIRMX vs. FNSHX - Performance Comparison

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

FIRMX vs. FNSHX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FIRMX Fidelity Managed Retirement Income Fund	0.24%	9.95%	4.29%	8.07%	-11.66%	2.77%	8.57%	10.57%	-1.80%	2.71%
FNSHX Fidelity Freedom Income Fund Class K	0.63%	10.35%	4.40%	8.26%	-11.31%	3.16%	9.01%	10.74%	-1.86%	0.09%

Returns By Period

In the year-to-date period, FIRMX achieves a 0.24% return, which is significantly lower than FNSHX's 0.63% return.

FIRMX

• 1D: 0.74%
• 1M: -2.07%
• YTD: 0.24%
• 6M: 1.29%
• 1Y: 7.55%
• 3Y*: 6.22%
• 5Y*: 2.46%
• 10Y*: 4.00%

FNSHX

• 1D: 0.18%
• 1M: -1.28%
• YTD: 0.63%
• 6M: 1.71%
• 1Y: 8.32%
• 3Y*: 6.59%
• 5Y*: 2.79%
• 10Y*: —

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

FIRMX vs. FNSHX - Expense Ratio Comparison

FIRMX has a 0.45% expense ratio, which is higher than FNSHX's 0.42% expense ratio.

FIRMX

Fidelity Managed Retirement Income Fund

FNSHX

Fidelity Freedom Income Fund Class K

Return for Risk

FIRMX vs. FNSHX — Risk / Return Rank

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

FIRMX

FIRMX Risk / Return Rank: 84
FIRMX Sharpe Ratio Rank: 85
FIRMX Sortino Ratio Rank: 86
FIRMX Omega Ratio Rank: 82
FIRMX Calmar Ratio Rank: 85
FIRMX Martin Ratio Rank: 84

FNSHX

FNSHX Risk / Return Rank: 83
FNSHX Sharpe Ratio Rank: 84
FNSHX Sortino Ratio Rank: 85
FNSHX Omega Ratio Rank: 81
FNSHX Calmar Ratio Rank: 83
FNSHX Martin Ratio Rank: 84

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.

FIRMX vs. FNSHX - Risk-Adjusted Trends Comparison

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

	FIRMX	FNSHX	Difference
Sharpe ratio Return per unit of total volatility	1.70	1.74	-0.04
Sortino ratio Return per unit of downside risk	2.38	2.43	-0.05
Omega ratio Gain probability vs. loss probability	1.34	1.35	-0.01
Calmar ratio Return relative to maximum drawdown	2.30	2.37	-0.07
Martin ratio Return relative to average drawdown	9.15	9.65	-0.51
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FIRMX vs. FNSHX - Sharpe Ratio Comparison

The current FIRMX Sharpe Ratio is 1.70, which is comparable to the FNSHX Sharpe Ratio of 1.74. The chart below compares the historical Sharpe Ratios of FIRMX and FNSHX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FIRMX	FNSHX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.70	1.74	-0.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.47	0.53	-0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.90	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	0.76	-0.23

Correlation

The correlation between FIRMX and FNSHX is 0.98, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

FIRMX vs. FNSHX - Dividend Comparison

FIRMX's dividend yield for the trailing twelve months is around 3.14%, less than FNSHX's 3.25% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIRMX Fidelity Managed Retirement Income Fund	3.14%	3.13%	3.02%	2.81%	4.54%	3.56%	2.48%	2.59%	4.65%	8.57%	1.67%	1.68%
FNSHX Fidelity Freedom Income Fund Class K	3.25%	3.21%	3.19%	2.98%	5.94%	6.17%	4.43%	3.74%	5.22%	0.00%	0.00%	0.00%

Drawdowns

FIRMX vs. FNSHX - Drawdown Comparison

The maximum FIRMX drawdown since its inception was -33.73%, which is greater than FNSHX's maximum drawdown of -15.87%. Use the drawdown chart below to compare losses from any high point for FIRMX and FNSHX.

Drawdown Indicators

	FIRMX	FNSHX	Difference
Max Drawdown Largest peak-to-trough decline	-33.73%	-15.87%	-17.86%
Max Drawdown (1Y) Largest decline over 1 year	-3.44%	-3.68%	+0.24%
Max Drawdown (5Y) Largest decline over 5 years	-16.11%	-15.87%	-0.24%
Max Drawdown (10Y) Largest decline over 10 years	-16.11%	—	—
Current Drawdown Current decline from peak	-2.46%	-2.39%	-0.07%
Average Drawdown Average peak-to-trough decline	-3.73%	-3.09%	-0.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.87%	0.90%	-0.03%

Volatility

FIRMX vs. FNSHX - Volatility Comparison

The current volatility for Fidelity Managed Retirement Income Fund (FIRMX) is 2.13%, while Fidelity Freedom Income Fund Class K (FNSHX) has a volatility of 2.36%. This indicates that FIRMX experiences smaller price fluctuations and is considered to be less risky than FNSHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FIRMX	FNSHX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.13%	2.36%	-0.23%
Volatility (6M) Calculated over the trailing 6-month period	2.94%	3.30%	-0.36%
Volatility (1Y) Calculated over the trailing 1-year period	4.64%	4.89%	-0.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.22%	5.26%	-0.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.48%	4.81%	-0.33%