FIRVX vs. FRKMX
FIRVX (Fidelity Managed Retirement 2020 Fund) and FRKMX (Fidelity Managed Retirement Income Fund Class K) are both Target Retirement Date funds from BlackRock. Their correlation of 0.93 suggests significant overlap in exposure. FIRVX charges 0.47%/yr vs 0.35%/yr for FRKMX.
Performance
FIRVX vs. FRKMX - Performance Comparison
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Returns By Period
FIRVX
- 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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FRKMX
- 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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FIRVX vs. FRKMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
FIRVX Fidelity Managed Retirement 2020 Fund | 1,440,933.92% | 12.25% | 5.86% | 10.72% | -14.63% | 6.77% | 12.06% | 5.34% |
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 FIRVX 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 | 0.97 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Aug 1, 2019 | 0.93 |
The correlation between FIRVX and FRKMX has been stable across timeframes, ranging from 0.93 to 0.98 - a consistent structural relationship.
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Return for Risk
FIRVX vs. FRKMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Managed Retirement 2020 Fund (FIRVX) 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.
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Drawdowns
FIRVX vs. FRKMX - Drawdown Comparison
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Volatility
FIRVX vs. FRKMX - Volatility Comparison
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FIRVX vs. FRKMX - Expense Ratio Comparison
FIRVX has a 0.47% expense ratio, which is higher than FRKMX's 0.35% expense ratio.
Dividends
FIRVX vs. FRKMX - Dividend Comparison
FIRVX's dividend yield for the trailing twelve months is around 102.77%, which matches FRKMX's 103.22% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FIRVX Fidelity Managed Retirement 2020 Fund | 102.77% | 2.83% | 2.74% | 2.57% | 3.52% | 4.61% | 3.74% | 3.18% | 6.90% | 25.16% | 2.28% | 4.45% |
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
With a correlation of 0.98, FIRVX 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.
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