FIRMX vs. SPY
Compare and contrast key facts about Fidelity Managed Retirement Income Fund (FIRMX) and State Street SPDR S&P 500 ETF (SPY).
FIRMX is managed by BlackRock. It was launched on Aug 30, 2007. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Performance
FIRMX vs. SPY - Performance Comparison
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FIRMX vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FIRMX Fidelity Managed Retirement Income Fund | -0.50% | 9.95% | 4.29% | 8.07% | -11.66% | 2.77% | 8.57% | 10.57% | -1.80% | 7.08% |
SPY State Street SPDR S&P 500 ETF | -4.37% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 18.33% | 31.22% | -4.57% | 21.71% |
Returns By Period
In the year-to-date period, FIRMX achieves a -0.50% return, which is significantly higher than SPY's -4.37% return. Over the past 10 years, FIRMX has underperformed SPY with an annualized return of 3.92%, while SPY has yielded a comparatively higher 13.98% annualized 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%
SPY
- 1D
- 2.91%
- 1M
- -4.94%
- YTD
- -4.37%
- 6M
- -1.82%
- 1Y
- 17.59%
- 3Y*
- 18.19%
- 5Y*
- 11.69%
- 10Y*
- 13.98%
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FIRMX vs. SPY - Expense Ratio Comparison
FIRMX has a 0.45% expense ratio, which is higher than SPY's 0.09% expense ratio.
Return for Risk
FIRMX vs. SPY — Risk / Return Rank
FIRMX
SPY
FIRMX vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Managed Retirement Income Fund (FIRMX) and State Street SPDR S&P 500 ETF (SPY). 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 | SPY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.56 | 0.93 | +0.63 |
Sortino ratioReturn per unit of downside risk | 2.17 | 1.45 | +0.72 |
Omega ratioGain probability vs. loss probability | 1.31 | 1.22 | +0.09 |
Calmar ratioReturn relative to maximum drawdown | 2.08 | 1.53 | +0.56 |
Martin ratioReturn relative to average drawdown | 8.41 | 7.30 | +1.12 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FIRMX | SPY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.56 | 0.93 | +0.63 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.46 | 0.69 | -0.22 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.88 | 0.78 | +0.10 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.52 | 0.56 | -0.04 |
Correlation
The correlation between FIRMX and SPY is 0.81, 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. SPY - Dividend Comparison
FIRMX's dividend yield for the trailing twelve months is around 3.16%, more than SPY's 1.14% 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% |
SPY State Street SPDR S&P 500 ETF | 1.14% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
Drawdowns
FIRMX vs. SPY - Drawdown Comparison
The maximum FIRMX drawdown since its inception was -33.73%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for FIRMX and SPY.
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Drawdown Indicators
| FIRMX | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.73% | -55.19% | +21.46% |
Max Drawdown (1Y)Largest decline over 1 year | -3.44% | -12.05% | +8.61% |
Max Drawdown (5Y)Largest decline over 5 years | -16.11% | -24.50% | +8.39% |
Max Drawdown (10Y)Largest decline over 10 years | -16.11% | -33.72% | +17.61% |
Current DrawdownCurrent decline from peak | -3.18% | -6.24% | +3.06% |
Average DrawdownAverage peak-to-trough decline | -3.73% | -9.09% | +5.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.85% | 2.52% | -1.67% |
Volatility
FIRMX vs. SPY - Volatility Comparison
The current volatility for Fidelity Managed Retirement Income Fund (FIRMX) is 1.96%, while State Street SPDR S&P 500 ETF (SPY) has a volatility of 5.31%. This indicates that FIRMX experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FIRMX | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.96% | 5.31% | -3.35% |
Volatility (6M)Calculated over the trailing 6-month period | 2.86% | 9.47% | -6.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.59% | 19.05% | -14.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.21% | 17.06% | -11.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.47% | 17.92% | -13.45% |