FIRSX vs. FRKMX

Last updated Jul 22, 2026

FIRSX (Fidelity Managed Retirement 2015 Fund) and FRKMX (Fidelity Managed Retirement Income Fund Class K) are both Target Retirement Date funds from BlackRock. With a 0.96 correlation, they move nearly in lockstep. FIRSX charges 0.46%/yr vs 0.35%/yr for FRKMX.

Performance

FIRSX vs. FRKMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Managed Retirement 2015 Fund (FIRSX) and Fidelity Managed Retirement Income Fund Class K (FRKMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FIRSX

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

FRKMX

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

FIRSX vs. FRKMX - 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%
FRKMX Fidelity Managed Retirement Income Fund Class K	15,640,638.04%	9.91%	4.40%	8.17%	-11.57%	2.88%	8.68%	3.08%

Correlation

The correlation between FIRSX and FRKMX 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 FRKMX has been stable across timeframes, ranging from 0.96 to 0.99 - a consistent structural relationship.

Return for Risk

FIRSX vs. FRKMX - 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 K (FRKMX). 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.

Drawdowns

Volatility

FIRSX vs. FRKMX - Expense Ratio Comparison

FIRSX has a 0.46% expense ratio, which is higher than FRKMX's 0.35% expense ratio.

Dividends

FIRSX vs. FRKMX - Dividend Comparison

FIRSX's dividend yield for the trailing twelve months is around 2.95%, less than FRKMX's 103.22% 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%
FRKMX Fidelity Managed Retirement Income Fund Class K	103.22%	3.11%	3.12%	2.92%	4.66%	3.65%	2.56%	1.85%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FIRSX and FRKMX in my portfolio?

With a correlation of 0.98, FIRSX and FRKMX 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.