FMRDX vs. FRHMX

Last updated Aug 1, 2026

FMRDX (Fidelity Advisor Managed Retirement 2030 Fund Class I) and FRHMX (Fidelity Managed Retirement Income Fund Class K6) are both Target Retirement Date funds from BlackRock. Their correlation of 0.88 means they have usually moved in the same direction. FMRDX charges 0.48%/yr vs 0.25%/yr for FRHMX.

Performance

FMRDX vs. FRHMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Managed Retirement 2030 Fund Class I (FMRDX) and Fidelity Managed Retirement Income Fund Class K6 (FRHMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FMRDX

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

FRHMX

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

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

FMRDX vs. FRHMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FMRDX Fidelity Advisor Managed Retirement 2030 Fund Class I	5.06%	14.26%	7.09%	12.60%	-16.25%	8.89%	13.79%	7.30%
FRHMX Fidelity Managed Retirement Income Fund Class K6	1,464,383.96%	10.02%	4.50%	8.28%	-11.48%	2.98%	8.79%	2.55%

Correlation

The correlation between FMRDX and FRHMX is 0.92, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.92
Correlation (3Y) Balances recent behavior with more history.	0.92
Correlation (5Y) Shows whether the relationship held over a longer period.	0.90
Correlation (All Time) Calculated using the full available price history since Aug 28, 2019	0.88

The correlation between FMRDX and FRHMX has been stable across timeframes, ranging from 0.88 to 0.92 - a consistent structural relationship.

Return for Risk

FMRDX vs. FRHMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Managed Retirement 2030 Fund Class I (FMRDX) 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.

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

Drawdowns

Volatility

FMRDX vs. FRHMX - Expense Ratio Comparison

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

Dividends

FMRDX vs. FRHMX - Dividend Comparison

FMRDX's dividend yield for the trailing twelve months is around 2.65%, less than FRHMX's 102.92% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
FMRDX Fidelity Advisor Managed Retirement 2030 Fund Class I	2.46%	2.50%	2.49%	2.38%	4.02%	4.73%	2.98%	1.52%
FRHMX Fidelity Managed Retirement Income Fund Class K6	102.60%	3.22%	3.24%	3.02%	4.77%	3.78%	2.61%	1.95%

Frequently Asked Questions

Can I hold both FMRDX and FRHMX in my portfolio?

With a correlation of 0.92, FMRDX 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.