FKRVX vs. NASDX

Last updated Jun 23, 2026

FKRVX (Fidelity Managed Retirement 2020 Fund Class K) and NASDX (Shelton Capital Management Nasdaq-100 Index Fund Direct Shares) are both mutual funds - FKRVX is a Target Retirement Date fund managed by BlackRock, while NASDX is a Large Cap Growth Equities fund tracking the NASDAQ-100 Index. Over the past 5 years, FKRVX returned 3.87%/yr vs 19.33%/yr for NASDX. A 0.75 correlation means they provide meaningful diversification when combined. FKRVX charges 0.37%/yr vs 0.63%/yr for NASDX.

Performance

FKRVX vs. NASDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Managed Retirement 2020 Fund Class K (FKRVX) and Shelton Capital Management Nasdaq-100 Index Fund Direct Shares (NASDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FKRVX achieves a 5.08% return, which is significantly lower than NASDX's 20.41% return.

FKRVX

• 1D: 0.00%
• 1M: 0.78%
• YTD: 5.08%
• 6M: 5.19%
• 1Y: 12.78%
• 3Y*: 9.21%
• 5Y*: 3.87%
• 10Y*: —

NASDX

• 1D: 2.48%
• 1M: 3.17%
• YTD: 20.41%
• 6M: 19.57%
• 1Y: 41.12%
• 3Y*: 30.69%
• 5Y*: 19.33%
• 10Y*: 22.78%

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

FKRVX vs. NASDX - 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%
NASDX Shelton Capital Management Nasdaq-100 Index Fund Direct Shares	20.41%	21.00%	36.91%	54.69%	-32.57%	27.32%	48.59%	11.51%

Correlation

The correlation between FKRVX and NASDX is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.75
Correlation (3Y) Calculated over the trailing 3-year period	0.69
Correlation (5Y) Calculated over the trailing 5-year period	0.73
Correlation (All Time) Calculated using the full available price history since Aug 1, 2019	0.75

The correlation between FKRVX and NASDX has been stable across timeframes, ranging from 0.69 to 0.75 - a consistent structural relationship.

Return for Risk

FKRVX vs. NASDX — Risk / Return Rank

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

FKRVX

FKRVX Risk / Return Rank: 67
FKRVX Sharpe Ratio Rank: 66
FKRVX Sortino Ratio Rank: 68
FKRVX Omega Ratio Rank: 74
FKRVX Calmar Ratio Rank: 61
FKRVX Martin Ratio Rank: 67

NASDX

NASDX Risk / Return Rank: 70
NASDX Sharpe Ratio Rank: 74
NASDX Sortino Ratio Rank: 61
NASDX Omega Ratio Rank: 63
NASDX Calmar Ratio Rank: 80
NASDX Martin Ratio Rank: 72

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. NASDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Managed Retirement 2020 Fund Class K (FKRVX) and Shelton Capital Management Nasdaq-100 Index Fund Direct Shares (NASDX). 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	NASDX	Difference
Sharpe ratio: Return per unit of total volatility	2.19	2.30	-0.11
Sortino ratio: Return per unit of downside risk	3.14	2.99	+0.15
Omega ratio: Gain probability vs. loss probability	1.44	1.40	+0.04
Calmar ratio: Return relative to maximum drawdown	2.86	3.42	-0.56
Martin ratio: Return relative to average drawdown	12.16	12.86	-0.70

FKRVX vs. NASDX - Sharpe Ratio Comparison

The current FKRVX Sharpe Ratio is 2.19, which is comparable to the NASDX Sharpe Ratio of 2.30. The chart below compares the historical Sharpe Ratios of FKRVX and NASDX, 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

FKRVX vs. NASDX - Drawdown Comparison

The maximum FKRVX drawdown since its inception was -20.02%, smaller than the maximum NASDX drawdown of -83.16%. Use the drawdown chart below to compare losses from any high point for FKRVX and NASDX.

Drawdown Indicators

	FKRVX	NASDX	Difference
Max Drawdown Largest peak-to-trough decline	-20.02%	-83.16%	+63.14%
Max Drawdown (1Y) Largest decline over 1 year	-4.50%	-11.90%	+7.40%
Max Drawdown (3Y) Largest decline over 3 years	-6.49%	-22.71%	+16.22%
Max Drawdown (5Y) Largest decline over 5 years	-20.02%	-35.33%	+15.31%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.33%	—
Current Drawdown Current decline from peak	-0.58%	-0.80%	+0.22%
Average Drawdown Average peak-to-trough decline	-4.56%	-34.31%	+29.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.06%	3.16%	-2.10%

Volatility

FKRVX vs. NASDX - Volatility Comparison

The current volatility for Fidelity Managed Retirement 2020 Fund Class K (FKRVX) is 2.68%, while Shelton Capital Management Nasdaq-100 Index Fund Direct Shares (NASDX) has a volatility of 8.48%. This indicates that FKRVX experiences smaller price fluctuations and is considered to be less risky than NASDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FKRVX	NASDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.68%	8.48%	-5.80%
Volatility (6M) Calculated over the trailing 6-month period	5.03%	14.35%	-9.32%
Volatility (1Y) Calculated over the trailing 1-year period	5.89%	17.71%	-11.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.33%	23.29%	-15.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.10%	22.80%	-14.70%

FKRVX vs. NASDX - Expense Ratio Comparison

FKRVX has a 0.37% expense ratio, which is lower than NASDX's 0.63% expense ratio.

Dividends

FKRVX vs. NASDX - Dividend Comparison

FKRVX's dividend yield for the trailing twelve months is around 2.98%, which matches NASDX's 3.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FKRVX Fidelity Managed Retirement 2020 Fund Class K	2.98%	2.82%	2.85%	2.68%	3.63%	4.70%	3.82%	2.81%	0.00%	0.00%	0.00%	0.00%
NASDX Shelton Capital Management Nasdaq-100 Index Fund Direct Shares	3.01%	3.76%	16.95%	7.61%	3.75%	2.59%	1.28%	7.09%	2.47%	1.65%	0.75%	0.85%

Frequently Asked Questions

Can I hold both FKRVX and NASDX in my portfolio?

FKRVX and NASDX have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FKRVX or NASDX?

NASDX has higher volatility (8.48%) compared to FKRVX (2.68%). In terms of maximum drawdown, FKRVX dropped -20.02% vs NASDX's -83.16%.

Which has better risk-adjusted returns?

NASDX currently has the higher Sharpe Ratio (2.30 vs 2.19), 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.