FIRSX vs. FRHMX
FIRSX (Fidelity Managed Retirement 2015 Fund) and FRHMX (Fidelity Managed Retirement Income Fund Class K6) are both Target Retirement Date funds from BlackRock. With a 0.96 correlation, they move nearly in lockstep. FIRSX charges 0.46%/yr vs 0.25%/yr for FRHMX.
Performance
FIRSX vs. FRHMX - Performance Comparison
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Returns By Period
FIRSX
- 1D
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- 1M
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- 6M
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- YTD
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- 1Y
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- 3Y*
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- 5Y*
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- 10Y*
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- ALL TIME*
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FRHMX
- 1D
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- 1M
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- 6M
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- YTD
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- 1Y
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- 3Y*
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- 5Y*
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- 10Y*
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- ALL TIME*
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FIRSX vs. FRHMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
FIRSX Fidelity Managed Retirement 2015 Fund | 4.25% | 11.12% | 5.17% | 9.63% | -13.52% | 5.32% | 10.88% | 4.67% |
FRHMX Fidelity Managed Retirement Income Fund Class K6 | 1,464,383.96% | 10.02% | 4.50% | 8.28% | -11.48% | 2.98% | 8.79% | 3.17% |
Correlation
The correlation between FIRSX and FRHMX is 0.98 - 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 | 0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.98 |
Correlation (All Time) Calculated using the full available price history since Aug 1, 2019 | 0.96 |
The correlation between FIRSX and FRHMX has been stable across timeframes, ranging from 0.96 to 0.99 - a consistent structural relationship.
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Return for Risk
FIRSX vs. FRHMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Managed Retirement 2015 Fund (FIRSX) 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.
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.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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Drawdowns
FIRSX vs. FRHMX - Drawdown Comparison
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Volatility
FIRSX vs. FRHMX - Volatility Comparison
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FIRSX vs. FRHMX - Expense Ratio Comparison
FIRSX has a 0.46% expense ratio, which is higher than FRHMX's 0.25% expense ratio.
Dividends
FIRSX vs. FRHMX - Dividend Comparison
FIRSX's dividend yield for the trailing twelve months is around 2.95%, less than FRHMX's 102.92% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FIRSX Fidelity Managed Retirement 2015 Fund | 2.95% | 3.01% | 2.89% | 2.68% | 4.92% | 5.21% | 3.39% | 3.24% | 6.33% | 24.28% | 2.04% | 4.48% |
FRHMX Fidelity Managed Retirement Income Fund Class K6 | 102.92% | 3.22% | 3.24% | 3.02% | 4.77% | 3.78% | 2.61% | 1.95% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.98, FIRSX and FRHMX 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.
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