FIXRX vs. ASFYX

Last updated Jun 23, 2026

FIXRX (Fidelity Managed Retirement 2025 Fund) and ASFYX (AlphaSimplex Managed Futures Strategy Fund Class Y) are both mutual funds - FIXRX is a Target Retirement Date fund managed by BlackRock, while ASFYX is a Systematic Trend fund managed by BlackRock. Over the past 10 years, FIXRX returned 6.86%/yr vs 2.59%/yr for ASFYX. At a 0.20 correlation, their price movements are largely independent. FIXRX charges 0.48%/yr vs 1.47%/yr for ASFYX.

Performance

FIXRX vs. ASFYX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Managed Retirement 2025 Fund (FIXRX) and AlphaSimplex Managed Futures Strategy Fund Class Y (ASFYX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FIXRX achieves a 4.52% return, which is significantly lower than ASFYX's 11.24% return. Over the past 10 years, FIXRX has outperformed ASFYX with an annualized return of 6.86%, while ASFYX has yielded a comparatively lower 2.59% annualized return.

FIXRX

• 1D: 0.00%
• 1M: -0.38%
• YTD: 4.52%
• 6M: 4.60%
• 1Y: 13.01%
• 3Y*: 10.08%
• 5Y*: 4.01%
• 10Y*: 6.86%

ASFYX

• 1D: 0.47%
• 1M: -3.04%
• YTD: 11.24%
• 6M: 10.85%
• 1Y: 23.30%
• 3Y*: -2.79%
• 5Y*: 3.10%
• 10Y*: 2.59%

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

FIXRX vs. ASFYX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FIXRX Fidelity Managed Retirement 2025 Fund	4.52%	13.42%	6.56%	11.83%	-15.65%	8.00%	13.10%	17.51%	-5.07%	14.27%
ASFYX AlphaSimplex Managed Futures Strategy Fund Class Y	11.24%	-9.67%	-3.22%	-10.33%	35.67%	3.52%	13.59%	8.99%	-12.59%	6.78%

Correlation

The correlation between FIXRX and ASFYX is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (3Y) Calculated over the trailing 3-year period	0.25
Correlation (5Y) Calculated over the trailing 5-year period	0.02
Correlation (10Y) Calculated over the trailing 10-year period	0.16
Correlation (All Time) Calculated using the full available price history since Aug 3, 2010	0.20

Over the past year, FIXRX and ASFYX have become more correlated (0.47) than their long-term average of 0.20, meaning their price movements have been converging.

Return for Risk

FIXRX vs. ASFYX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FIXRX

FIXRX Risk / Return Rank: 56
FIXRX Sharpe Ratio Rank: 55
FIXRX Sortino Ratio Rank: 54
FIXRX Omega Ratio Rank: 61
FIXRX Calmar Ratio Rank: 50
FIXRX Martin Ratio Rank: 60

ASFYX

ASFYX Risk / Return Rank: 60
ASFYX Sharpe Ratio Rank: 49
ASFYX Sortino Ratio Rank: 43
ASFYX Omega Ratio Rank: 45
ASFYX Calmar Ratio Rank: 89
ASFYX Martin Ratio Rank: 76

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FIXRX vs. ASFYX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Managed Retirement 2025 Fund (FIXRX) and AlphaSimplex Managed Futures Strategy Fund Class Y (ASFYX). 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.

	FIXRX	ASFYX	Difference
Sharpe ratio: Return per unit of total volatility	2.00	1.90	+0.10
Sortino ratio: Return per unit of downside risk	2.82	2.53	+0.29
Omega ratio: Gain probability vs. loss probability	1.39	1.34	+0.06
Calmar ratio: Return relative to maximum drawdown	2.59	4.22	-1.63
Martin ratio: Return relative to average drawdown	11.12	13.32	-2.21

FIXRX vs. ASFYX - Sharpe Ratio Comparison

The current FIXRX Sharpe Ratio is 2.00, which is comparable to the ASFYX Sharpe Ratio of 1.90. The chart below compares the historical Sharpe Ratios of FIXRX and ASFYX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FIXRX vs. ASFYX - Drawdown Comparison

The maximum FIXRX drawdown since its inception was -41.29%, which is greater than ASFYX's maximum drawdown of -36.43%. Use the drawdown chart below to compare losses from any high point for FIXRX and ASFYX.

Drawdown Indicators

	FIXRX	ASFYX	Difference
Max Drawdown Largest peak-to-trough decline	-41.29%	-36.43%	-4.86%
Max Drawdown (1Y) Largest decline over 1 year	-5.11%	-5.43%	+0.32%
Max Drawdown (3Y) Largest decline over 3 years	-7.24%	-30.32%	+23.08%
Max Drawdown (5Y) Largest decline over 5 years	-21.57%	-36.43%	+14.86%
Max Drawdown (10Y) Largest decline over 10 years	-21.57%	-36.43%	+14.86%
Current Drawdown Current decline from peak	-1.86%	-21.07%	+19.21%
Average Drawdown Average peak-to-trough decline	-5.20%	-13.20%	+8.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.19%	1.71%	-0.52%

Volatility

FIXRX vs. ASFYX - Volatility Comparison

The current volatility for Fidelity Managed Retirement 2025 Fund (FIXRX) is 2.67%, while AlphaSimplex Managed Futures Strategy Fund Class Y (ASFYX) has a volatility of 3.67%. This indicates that FIXRX experiences smaller price fluctuations and is considered to be less risky than ASFYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FIXRX	ASFYX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.67%	3.67%	-1.00%
Volatility (6M) Calculated over the trailing 6-month period	5.56%	9.86%	-4.30%
Volatility (1Y) Calculated over the trailing 1-year period	6.61%	12.03%	-5.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.21%	13.77%	-5.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.38%	12.73%	-4.35%

FIXRX vs. ASFYX - Expense Ratio Comparison

FIXRX has a 0.48% expense ratio, which is lower than ASFYX's 1.47% expense ratio.

Dividends

FIXRX vs. ASFYX - Dividend Comparison

FIXRX's dividend yield for the trailing twelve months is around 3.67%, more than ASFYX's 1.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ASFYX AlphaSimplex Managed Futures Strategy Fund Class Y	1.37%	1.52%	1.46%	0.99%	32.48%	6.07%	3.40%	5.51%	1.30%	0.07%	0.01%	5.06%
FIXRX Fidelity Managed Retirement 2025 Fund	3.67%	2.67%	2.59%	2.44%	4.74%	5.12%	3.58%	3.87%	7.10%	24.84%	2.44%	4.49%

Frequently Asked Questions

Can I hold both FIXRX and ASFYX in my portfolio?

FIXRX and ASFYX have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FIXRX or ASFYX?

ASFYX has higher volatility (3.67%) compared to FIXRX (2.67%). In terms of maximum drawdown, FIXRX dropped -41.29% vs ASFYX's -36.43%.

Which has better risk-adjusted returns?

FIXRX currently has the higher Sharpe Ratio (2.00 vs 1.90), 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.