FIRQX vs. FIRMX
FIRQX (Fidelity Managed Retirement 2010 Fund) and FIRMX (Fidelity Managed Retirement Income Fund) are both Target Retirement Date funds from BlackRock. Over the past 10 years, FIRQX returned 5.03%/yr vs 4.21%/yr for FIRMX. With a 0.99 correlation, they move nearly in lockstep. FIRQX charges 0.46%/yr vs 0.45%/yr for FIRMX.
Performance
FIRQX vs. FIRMX - Performance Comparison
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Returns By Period
As of year-to-date, both investments have demonstrated similar returns, with FIRQX at 3.60% and FIRMX at 3.60%. Over the past 10 years, FIRQX has outperformed FIRMX with an annualized return of 5.03%, while FIRMX has yielded a comparatively lower 4.21% annualized return.
FIRQX
- 1D
- 0.00%
- 1M
- 0.65%
- YTD
- 3.60%
- 6M
- 3.41%
- 1Y
- 8.61%
- 3Y*
- 7.27%
- 5Y*
- 2.79%
- 10Y*
- 5.03%
FIRMX
- 1D
- 0.00%
- 1M
- 0.65%
- YTD
- 3.60%
- 6M
- 3.40%
- 1Y
- 8.61%
- 3Y*
- 7.18%
- 5Y*
- 2.79%
- 10Y*
- 4.21%
FIRQX vs. FIRMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FIRQX Fidelity Managed Retirement 2010 Fund | 3.60% | 9.97% | 4.48% | 8.52% | -12.39% | 3.82% | 9.59% | 12.62% | -2.83% | 10.63% |
FIRMX Fidelity Managed Retirement Income Fund | 3.60% | 9.95% | 4.29% | 8.07% | -11.66% | 2.77% | 8.57% | 10.57% | -1.80% | 7.08% |
Correlation
The correlation between FIRQX and FIRMX is 1.00 - 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 | 1.00 |
Correlation (3Y) Calculated over the trailing 3-year period | 1.00 |
Correlation (5Y) Calculated over the trailing 5-year period | 1.00 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.98 |
Correlation (All Time) Calculated using the full available price history since Aug 30, 2007 | 0.99 |
The correlation between FIRQX and FIRMX has been stable across timeframes, ranging from 0.98 to 1.00 - a consistent structural relationship.
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Return for Risk
FIRQX vs. FIRMX — Risk / Return Rank
FIRQX
FIRMX
FIRQX vs. FIRMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Managed Retirement 2010 Fund (FIRQX) 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.
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.
| FIRQX | FIRMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | 0.00 | ||
| Sortino ratioReturn per unit of downside risk | 0.00 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.44 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.77 | 2.77 | 0.00 |
| Martin ratioReturn relative to average drawdown | 11.64 | 11.63 | +0.01 |
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Drawdowns
FIRQX vs. FIRMX - Drawdown Comparison
The maximum FIRQX drawdown since its inception was -38.01%, which is greater than FIRMX's maximum drawdown of -33.73%. Use the drawdown chart below to compare losses from any high point for FIRQX and FIRMX.
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Drawdown Indicators
| FIRQX | FIRMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.01% | -33.73% | -4.28% |
Max Drawdown (1Y)Largest decline over 1 year | -3.45% | -3.44% | -0.01% |
Max Drawdown (3Y)Largest decline over 3 years | -5.19% | -4.96% | -0.23% |
Max Drawdown (5Y)Largest decline over 5 years | -17.04% | -16.11% | -0.93% |
Max Drawdown (10Y)Largest decline over 10 years | -17.04% | -16.11% | -0.93% |
Current DrawdownCurrent decline from peak | -0.44% | -0.42% | -0.02% |
Average DrawdownAverage peak-to-trough decline | -4.43% | -3.70% | -0.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.82% | 0.82% | 0.00% |
Volatility
FIRQX vs. FIRMX - Volatility Comparison
Fidelity Managed Retirement 2010 Fund (FIRQX) and Fidelity Managed Retirement Income Fund (FIRMX) have volatilities of 2.05% and 2.02%, 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.
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Volatility by Period
| FIRQX | FIRMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.05% | 2.02% | +0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 3.72% | 3.70% | +0.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.38% | 4.36% | +0.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.60% | 5.32% | +0.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.35% | 4.54% | +0.81% |
FIRQX vs. FIRMX - Expense Ratio Comparison
FIRQX has a 0.46% expense ratio, which is higher than FIRMX's 0.45% expense ratio.
Dividends
FIRQX vs. FIRMX - Dividend Comparison
FIRQX's dividend yield for the trailing twelve months is around 3.30%, more than FIRMX's 3.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FIRMX Fidelity Managed Retirement Income Fund | 3.25% | 3.13% | 3.02% | 2.81% | 4.54% | 3.56% | 2.48% | 2.59% | 4.65% | 8.57% | 1.67% | 1.68% |
FIRQX Fidelity Managed Retirement 2010 Fund | 3.30% | 3.14% | 2.95% | 2.75% | 5.01% | 6.00% | 3.50% | 3.15% | 5.59% | 16.31% | 2.43% | 4.08% |
Frequently Asked Questions
With a correlation of 1.00, FIRQX 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.
FIRQX has higher volatility (2.05%) compared to FIRMX (2.02%). In terms of maximum drawdown, FIRQX dropped -38.01% vs FIRMX's -33.73%.
FIRMX currently has the higher Sharpe Ratio (2.19 vs 2.19), 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.
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