FMREX vs. VFAIX

Last updated Aug 1, 2026

FMREX (Fidelity Managed Retirement 2030 Fund Class K) and VFAIX (Vanguard Financials Index Fund Admiral Shares) are both mutual funds - FMREX is a Target Retirement Date fund managed by BlackRock, while VFAIX is a Financials Equities fund tracking the MSCI US Investable Market Financials 25/50 Index. Their 0.67 correlation means they have sometimes moved together and sometimes differently. FMREX charges 0.38%/yr vs 0.09%/yr for VFAIX.

Performance

FMREX vs. VFAIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Managed Retirement 2030 Fund Class K (FMREX) and Vanguard Financials Index Fund Admiral Shares (VFAIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FMREX

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

VFAIX

• 1D: 0.50%
• 1M: 2.34%
• 6M: 7.49%
• YTD: 5.46%
• 1Y: 13.21%
• 3Y*: 19.66%
• 5Y*: 11.54%
• 10Y*: 13.41%
• ALL TIME*: 6.81%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
VFAIX Vanguard Financials Index Fund Admiral Shares	$0.00	$0.00	$0.00

FMREX vs. VFAIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FMREX Fidelity Managed Retirement 2030 Fund Class K	5.11%	14.45%	7.18%	12.74%	-16.23%	8.96%	13.98%	7.35%
VFAIX Vanguard Financials Index Fund Admiral Shares	5.46%	14.90%	30.46%	14.07%	-12.26%	36.27%	-2.15%	17.99%

Correlation

The correlation between FMREX and VFAIX is 0.46, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.46
Correlation (3Y) Balances recent behavior with more history.	0.57
Correlation (5Y) Shows whether the relationship held over a longer period.	0.66
Correlation (All Time) Calculated using the full available price history since Aug 28, 2019	0.67

Over the past year, the correlation between FMREX and VFAIX has dropped to 0.46 - well below their long-term average of 0.67, suggesting their price drivers have been diverging.

Return for Risk

FMREX vs. VFAIX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FMREX

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

VFAIX

VFAIX Risk / Return Rank: 18
VFAIX Sharpe Ratio Rank: 20
VFAIX Sortino Ratio Rank: 19
VFAIX Omega Ratio Rank: 20
VFAIX Calmar Ratio Rank: 15
VFAIX Martin Ratio Rank: 14

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FMREX vs. VFAIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Managed Retirement 2030 Fund Class K (FMREX) and Vanguard Financials Index Fund Admiral Shares (VFAIX). 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.

	FMREX	VFAIX	Difference
Sharpe ratio: Return per unit of total volatility	—	0.70	—
Sortino ratio: Return per unit of downside risk	—	1.03	—
Omega ratio: Gain probability vs. loss probability	—	1.13	—
Calmar ratio: Return relative to maximum drawdown	—	0.71	—
Martin ratio: Return relative to average drawdown	—	1.85	—

Drawdowns

Drawdown Indicators

	FMREX	VFAIX	Difference
Max Drawdown Largest peak-to-trough decline	—	-78.64%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-14.72%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-17.31%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-25.71%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-44.37%	—
Current Drawdown Current decline from peak	—	-1.08%	—
Average Drawdown Average peak-to-trough decline	—	-18.49%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	5.66%	—

Volatility

Volatility by Period

	FMREX	VFAIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.48%	—
Volatility (6M) Calculated over the trailing 6-month period	—	11.25%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	15.04%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	19.17%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	22.54%	—

FMREX vs. VFAIX - Expense Ratio Comparison

FMREX has a 0.38% expense ratio, which is higher than VFAIX's 0.09% expense ratio.

Dividends

FMREX vs. VFAIX - Dividend Comparison

FMREX's dividend yield for the trailing twelve months is around 2.75%, more than VFAIX's 1.67% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FMREX Fidelity Managed Retirement 2030 Fund Class K	2.56%	2.59%	2.49%	2.50%	4.13%	4.80%	3.05%	1.56%	0.00%	0.00%	0.00%	0.00%
VFAIX Vanguard Financials Index Fund Admiral Shares	1.67%	1.56%	1.75%	2.08%	2.31%	2.62%	2.21%	2.17%	2.30%	1.54%	1.64%	2.00%

Frequently Asked Questions

Can I hold both FMREX and VFAIX in my portfolio?

FMREX and VFAIX have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.