FIRMX vs. FRHMX

Last updated Apr 1, 2026

Compare and contrast key facts about Fidelity Managed Retirement Income Fund (FIRMX) and Fidelity Managed Retirement Income Fund Class K6 (FRHMX).

FIRMX is managed by BlackRock. It was launched on Aug 30, 2007. FRHMX is managed by BlackRock. It was launched on Aug 1, 2019.

Performance

FIRMX vs. FRHMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Managed Retirement Income Fund (FIRMX) and Fidelity Managed Retirement Income Fund Class K6 (FRHMX). The values are adjusted to include any dividend payments, if applicable.

FIRMX vs. FRHMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FIRMX Fidelity Managed Retirement Income Fund	-0.50%	9.95%	4.29%	8.07%	-11.66%	2.77%	8.57%	3.09%
FRHMX Fidelity Managed Retirement Income Fund Class K6	-0.45%	10.02%	4.50%	8.28%	-11.48%	2.98%	8.79%	3.17%

Returns By Period

In the year-to-date period, FIRMX achieves a -0.50% return, which is significantly lower than FRHMX's -0.45% return.

FIRMX

• 1D: 0.27%
• 1M: -3.18%
• YTD: -0.50%
• 6M: 0.75%
• 1Y: 7.05%
• 3Y*: 5.96%
• 5Y*: 2.41%
• 10Y*: 3.92%

FRHMX

• 1D: 0.27%
• 1M: -3.16%
• YTD: -0.45%
• 6M: 0.86%
• 1Y: 7.28%
• 3Y*: 6.13%
• 5Y*: 2.58%
• 10Y*: —

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

FIRMX vs. FRHMX - Expense Ratio Comparison

FIRMX has a 0.45% expense ratio, which is higher than FRHMX's 0.25% expense ratio.

FIRMX

Fidelity Managed Retirement Income Fund

FRHMX

Fidelity Managed Retirement Income Fund Class K6

Return for Risk

FIRMX vs. FRHMX — Risk / Return Rank

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

FIRMX

FIRMX Risk / Return Rank: 83
FIRMX Sharpe Ratio Rank: 83
FIRMX Sortino Ratio Rank: 84
FIRMX Omega Ratio Rank: 80
FIRMX Calmar Ratio Rank: 84
FIRMX Martin Ratio Rank: 84

FRHMX

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

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. FRHMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Managed Retirement Income Fund (FIRMX) and Fidelity Managed Retirement Income Fund Class K6 (FRHMX). 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	FRHMX	Difference
Sharpe ratio Return per unit of total volatility	1.56	1.61	-0.05
Sortino ratio Return per unit of downside risk	2.17	2.24	-0.07
Omega ratio Gain probability vs. loss probability	1.31	1.32	-0.01
Calmar ratio Return relative to maximum drawdown	2.08	2.15	-0.07
Martin ratio Return relative to average drawdown	8.41	8.71	-0.29
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. FRHMX - Sharpe Ratio Comparison

The current FIRMX Sharpe Ratio is 1.56, which is comparable to the FRHMX Sharpe Ratio of 1.61. The chart below compares the historical Sharpe Ratios of FIRMX and FRHMX, 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	FRHMX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.56	1.61	-0.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.46	0.50	-0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.88	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	0.71	-0.18

Correlation

The correlation between FIRMX and FRHMX is 1.00, 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. FRHMX - Dividend Comparison

FIRMX's dividend yield for the trailing twelve months is around 3.16%, less than FRHMX's 3.39% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIRMX Fidelity Managed Retirement Income Fund	3.16%	3.13%	3.02%	2.81%	4.54%	3.56%	2.48%	2.59%	4.65%	8.57%	1.67%	1.68%
FRHMX Fidelity Managed Retirement Income Fund Class K6	3.39%	3.22%	3.24%	3.02%	4.77%	3.78%	2.61%	1.95%	0.00%	0.00%	0.00%	0.00%

Drawdowns

FIRMX vs. FRHMX - Drawdown Comparison

The maximum FIRMX drawdown since its inception was -33.73%, which is greater than FRHMX's maximum drawdown of -15.96%. Use the drawdown chart below to compare losses from any high point for FIRMX and FRHMX.

Drawdown Indicators

	FIRMX	FRHMX	Difference
Max Drawdown Largest peak-to-trough decline	-33.73%	-15.96%	-17.77%
Max Drawdown (1Y) Largest decline over 1 year	-3.44%	-3.42%	-0.02%
Max Drawdown (5Y) Largest decline over 5 years	-16.11%	-15.96%	-0.15%
Max Drawdown (10Y) Largest decline over 10 years	-16.11%	—	—
Current Drawdown Current decline from peak	-3.18%	-3.16%	-0.02%
Average Drawdown Average peak-to-trough decline	-3.73%	-3.58%	-0.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.85%	0.85%	0.00%

Volatility

FIRMX vs. FRHMX - Volatility Comparison

Fidelity Managed Retirement Income Fund (FIRMX) and Fidelity Managed Retirement Income Fund Class K6 (FRHMX) have volatilities of 1.96% and 1.96%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FIRMX	FRHMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.96%	1.96%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	2.86%	2.86%	0.00%
Volatility (1Y) Calculated over the trailing 1-year period	4.59%	4.59%	0.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.21%	5.22%	-0.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.47%	5.14%	-0.67%