FIXRX vs. FRHMX

Last updated Jul 14, 2026

FIXRX (Fidelity Managed Retirement 2025 Fund) and FRHMX (Fidelity Managed Retirement Income Fund Class K6) are both Target Retirement Date funds from BlackRock. Their correlation of 0.90 suggests significant overlap in exposure. FIXRX charges 0.48%/yr vs 0.25%/yr for FRHMX.

Performance

FIXRX vs. FRHMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Managed Retirement 2025 Fund (FIXRX) and Fidelity Managed Retirement Income Fund Class K6 (FRHMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FIXRX

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

FRHMX

• 1D: 1,410,365.12%
• 1M: 1,410,365.12%
• 6M: 1,451,057.01%
• YTD: 1,464,383.96%
• 1Y: 1,531,998.28%
• 3Y*: 2,494.75%
• 5Y*: 596.10%
• 10Y*: —

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

FIXRX vs. FRHMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FIXRX Fidelity Managed Retirement 2025 Fund	4.52%	13.42%	6.56%	11.83%	-15.65%	8.00%	13.10%	5.87%
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 FIXRX and FRHMX is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (All Time) Calculated using the full available price history since Aug 1, 2019	0.90

The correlation between FIXRX and FRHMX has been stable across timeframes, ranging from 0.90 to 0.94 - a consistent structural relationship.

Return for Risk

FIXRX vs. FRHMX — Risk / Return Rank

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

FIXRX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

FRHMX

FRHMX Risk / Return Rank: 86
FRHMX Sharpe Ratio Rank: 28
FRHMX Sortino Ratio Rank: 100
FRHMX Omega Ratio Rank: 100
FRHMX Calmar Ratio Rank: 100
FRHMX Martin Ratio Rank: 100

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. FRHMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Managed Retirement 2025 Fund (FIXRX) 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.

	FIXRX	FRHMX	Difference
Sharpe ratio: Return per unit of total volatility	—	1.14	—
Sortino ratio: Return per unit of downside risk	—	488,367.03	—
Omega ratio: Gain probability vs. loss probability	—	68,097.73	—
Calmar ratio: Return relative to maximum drawdown	—	470,348.34	—
Martin ratio: Return relative to average drawdown	—	1,985,653.35	—

Drawdowns

Drawdown Indicators

	FIXRX	FRHMX	Difference
Max Drawdown Largest peak-to-trough decline	—	-15.96%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-3.42%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-4.90%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-15.96%	—
Current Drawdown Current decline from peak	—	0.00%	—
Average Drawdown Average peak-to-trough decline	—	-3.49%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.81%	—

Volatility

Volatility by Period

	FIXRX	FRHMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	955.41%	—
Volatility (6M) Calculated over the trailing 6-month period	—	955.40%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	1,413,171.78%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	631,989.64%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	538,904.02%	—

FIXRX vs. FRHMX - Expense Ratio Comparison

FIXRX has a 0.48% expense ratio, which is higher than FRHMX's 0.25% expense ratio.

Dividends

FIXRX vs. FRHMX - Dividend Comparison

FIXRX's dividend yield for the trailing twelve months is around 3.58%, less than FRHMX's 102.92% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIXRX Fidelity Managed Retirement 2025 Fund	3.58%	2.67%	2.59%	2.44%	4.74%	5.12%	3.58%	3.87%	7.10%	24.84%	2.44%	4.49%
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

Can I hold both FIXRX and FRHMX in my portfolio?

With a correlation of 0.94, FIXRX 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.