FKRVX vs. CII

Last updated Jul 22, 2026

FKRVX (Fidelity Managed Retirement 2020 Fund Class K) and CII (BlackRock Enhanced Large Cap Core Fund) are both mutual funds - FKRVX is a Target Retirement Date fund managed by BlackRock, while CII is a Derivative Income fund actively managed by BlackRock. A 0.68 correlation means they provide meaningful diversification when combined. FKRVX charges 0.37%/yr vs 0.91%/yr for CII.

Performance

FKRVX vs. CII - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Managed Retirement 2020 Fund Class K (FKRVX) and BlackRock Enhanced Large Cap Core Fund (CII). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FKRVX

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

CII

• 1D: 0.28%
• 1M: 1.29%
• 6M: 11.06%
• YTD: 10.01%
• 1Y: 36.78%
• 3Y*: 21.30%
• 5Y*: 13.50%
• 10Y*: 14.90%
• ALL TIME*: 10.69%

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

FKRVX vs. CII - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FKRVX Fidelity Managed Retirement 2020 Fund Class K	5.08%	12.24%	5.97%	10.84%	-14.55%	6.87%	12.20%	5.51%
CII BlackRock Enhanced Large Cap Core Fund	10.01%	37.78%	12.70%	18.47%	-13.21%	34.26%	8.11%	10.07%

Correlation

The correlation between FKRVX and CII 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	0.55
Correlation (5Y) Calculated over the trailing 5-year period	0.65
Correlation (All Time) Calculated using the full available price history since Aug 1, 2019	0.68

Over the past year, the correlation between FKRVX and CII has dropped to 0.47 - well below their long-term average of 0.68, suggesting their price drivers have been diverging.

Return for Risk

FKRVX vs. CII — Risk / Return Rank

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

FKRVX

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

CII

CII Risk / Return Rank: 82
CII Sharpe Ratio Rank: 85
CII Sortino Ratio Rank: 79
CII Omega Ratio Rank: 78
CII Calmar Ratio Rank: 84
CII Martin Ratio Rank: 82

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.

FKRVX vs. CII - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Managed Retirement 2020 Fund Class K (FKRVX) and BlackRock Enhanced Large Cap Core Fund (CII). 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.

	FKRVX	CII	Difference
Sharpe ratio: Return per unit of total volatility	—	2.22	—
Sortino ratio: Return per unit of downside risk	—	2.95	—
Omega ratio: Gain probability vs. loss probability	—	1.38	—
Calmar ratio: Return relative to maximum drawdown	—	3.17	—
Martin ratio: Return relative to average drawdown	—	11.27	—

Drawdowns

Drawdown Indicators

	FKRVX	CII	Difference
Max Drawdown Largest peak-to-trough decline	—	-56.43%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-11.67%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-21.05%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-22.32%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-40.56%	—
Current Drawdown Current decline from peak	—	-5.18%	—
Average Drawdown Average peak-to-trough decline	—	-6.16%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.27%	—

Volatility

Volatility by Period

	FKRVX	CII	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.94%	—
Volatility (6M) Calculated over the trailing 6-month period	—	13.33%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	16.62%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	17.35%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	18.64%	—

FKRVX vs. CII - Expense Ratio Comparison

FKRVX has a 0.37% expense ratio, which is lower than CII's 0.91% expense ratio.

Dividends

FKRVX vs. CII - Dividend Comparison

FKRVX's dividend yield for the trailing twelve months is around 2.88%, less than CII's 15.77% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CII BlackRock Enhanced Large Cap Core Fund	15.77%	16.65%	6.15%	6.28%	12.27%	4.98%	6.03%	5.79%	7.06%	6.07%	8.38%	8.49%
FKRVX Fidelity Managed Retirement 2020 Fund Class K	2.88%	2.82%	2.85%	2.68%	3.63%	4.70%	3.82%	2.81%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FKRVX and CII in my portfolio?

FKRVX and CII 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.