FKGLX vs. FRQKX

Last updated Jul 16, 2026

FKGLX (Fidelity Advisor Freedom 2040 Fund Class Z6) and FRQKX (Fidelity Managed Retirement 2010 Fund Class K) are both Target Retirement Date funds. Their correlation of 0.81 suggests significant overlap in exposure. FKGLX charges 0.50%/yr vs 0.36%/yr for FRQKX.

Performance

FKGLX vs. FRQKX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Freedom 2040 Fund Class Z6 (FKGLX) and Fidelity Managed Retirement 2010 Fund Class K (FRQKX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FKGLX

• 1D: 0.61%
• 1M: -1.05%
• 6M: 7.79%
• YTD: 10.48%
• 1Y: 20.87%
• 3Y*: 18.05%
• 5Y*: 9.65%
• 10Y*: —

FRQKX

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

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

FKGLX vs. FRQKX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FKGLX Fidelity Advisor Freedom 2040 Fund Class Z6	10.48%	21.77%	16.27%	19.02%	-17.89%	16.35%	17.80%	8.69%
FRQKX Fidelity Managed Retirement 2010 Fund Class K	3.66%	9.91%	4.42%	8.62%	-12.30%	3.95%	9.68%	3.94%

Correlation

The correlation between FKGLX and FRQKX is 0.82, 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	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.79
Correlation (5Y) Calculated over the trailing 5-year period	0.78
Correlation (All Time) Calculated using the full available price history since Aug 1, 2019	0.81

The correlation between FKGLX and FRQKX has been stable across timeframes, ranging from 0.78 to 0.82 - a consistent structural relationship.

Return for Risk

FKGLX vs. FRQKX — Risk / Return Rank

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

FKGLX

FKGLX Risk / Return Rank: 57
FKGLX Sharpe Ratio Rank: 55
FKGLX Sortino Ratio Rank: 53
FKGLX Omega Ratio Rank: 56
FKGLX Calmar Ratio Rank: 57
FKGLX Martin Ratio Rank: 65

FRQKX

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

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.

FKGLX vs. FRQKX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Freedom 2040 Fund Class Z6 (FKGLX) and Fidelity Managed Retirement 2010 Fund Class K (FRQKX). 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.

	FKGLX	FRQKX	Difference
Sharpe ratio: Return per unit of total volatility	1.64	—	—
Sortino ratio: Return per unit of downside risk	2.29	—	—
Omega ratio: Gain probability vs. loss probability	1.30	—	—
Calmar ratio: Return relative to maximum drawdown	2.32	—	—
Martin ratio: Return relative to average drawdown	9.79	—	—

Drawdowns

Drawdown Indicators

	FKGLX	FRQKX	Difference
Max Drawdown Largest peak-to-trough decline	-31.23%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-8.82%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-13.78%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-27.05%	—	—
Current Drawdown Current decline from peak	-1.34%	—	—
Average Drawdown Average peak-to-trough decline	-5.38%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	2.08%	—	—

Volatility

Volatility by Period

	FKGLX	FRQKX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.08%	—	—
Volatility (6M) Calculated over the trailing 6-month period	10.70%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	12.47%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.50%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.72%	—	—

FKGLX vs. FRQKX - Expense Ratio Comparison

FKGLX has a 0.50% expense ratio, which is higher than FRQKX's 0.36% expense ratio.

Dividends

FKGLX vs. FRQKX - Dividend Comparison

FKGLX's dividend yield for the trailing twelve months is around 8.02%, more than FRQKX's 3.28% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FKGLX Fidelity Advisor Freedom 2040 Fund Class Z6	8.02%	7.40%	5.77%	1.58%	11.37%	10.16%	6.18%	7.47%	12.35%	2.66%
FRQKX Fidelity Managed Retirement 2010 Fund Class K	3.28%	3.09%	2.91%	2.86%	5.12%	6.11%	3.61%	2.57%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FKGLX and FRQKX in my portfolio?

FKGLX and FRQKX have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.