FRBEX vs. FIRMX

Last updated Aug 1, 2026

FRBEX (Fidelity Freedom 2070 Fund Class K) and FIRMX (Fidelity Managed Retirement Income Fund) are both Target Retirement Date funds. Their 0.76 correlation means they have sometimes moved together and sometimes differently. FRBEX charges 0.65%/yr vs 0.45%/yr for FIRMX.

Performance

FRBEX vs. FIRMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Freedom 2070 Fund Class K (FRBEX) and Fidelity Managed Retirement Income Fund (FIRMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FRBEX

• 1D: 2.28%
• 1M: -1.17%
• 6M: 7.93%
• YTD: 12.05%
• 1Y: 24.56%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 18.88%

FIRMX

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

*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)
FRBEX Fidelity Freedom 2070 Fund Class K	$0.00	$0.00	$0.00

FRBEX vs. FIRMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FRBEX Fidelity Freedom 2070 Fund Class K	12.05%	23.38%	3.52%
FIRMX Fidelity Managed Retirement Income Fund	3.60%	9.95%	2.26%

Correlation

The correlation between FRBEX and FIRMX is 0.78, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.78
Correlation (All Time) Calculated using the full available price history since Jul 3, 2024	0.76

The correlation between FRBEX and FIRMX has been stable across timeframes, ranging from 0.76 to 0.78 - a consistent structural relationship.

Return for Risk

FRBEX vs. FIRMX — Risk / Return Rank

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

FRBEX

FRBEX Risk / Return Rank: 67
FRBEX Sharpe Ratio Rank: 64
FRBEX Sortino Ratio Rank: 61
FRBEX Omega Ratio Rank: 63
FRBEX Calmar Ratio Rank: 70
FRBEX Martin Ratio Rank: 78

FIRMX

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

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.

FRBEX vs. FIRMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Freedom 2070 Fund Class K (FRBEX) and Fidelity Managed Retirement Income Fund (FIRMX). 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.

	FRBEX	FIRMX	Difference
Sharpe ratio: Return per unit of total volatility	1.58	—	—
Sortino ratio: Return per unit of downside risk	2.23	—	—
Omega ratio: Gain probability vs. loss probability	1.29	—	—
Calmar ratio: Return relative to maximum drawdown	2.34	—	—
Martin ratio: Return relative to average drawdown	9.74	—	—

Drawdowns

Drawdown Indicators

	FRBEX	FIRMX	Difference
Max Drawdown Largest peak-to-trough decline	-15.31%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-9.79%	—	—
Current Drawdown Current decline from peak	-2.46%	—	—
Average Drawdown Average peak-to-trough decline	-1.79%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	2.35%	—	—

Volatility

Volatility by Period

	FRBEX	FIRMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.36%	—	—
Volatility (6M) Calculated over the trailing 6-month period	12.43%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	14.47%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.05%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.05%	—	—

FRBEX vs. FIRMX - Expense Ratio Comparison

FRBEX has a 0.65% expense ratio, which is higher than FIRMX's 0.45% expense ratio.

Dividends

FRBEX vs. FIRMX - Dividend Comparison

FRBEX's dividend yield for the trailing twelve months is around 4.18%, more than FIRMX's 3.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIRMX Fidelity Managed Retirement Income Fund	2.81%	3.13%	3.02%	2.81%	4.54%	3.56%	2.48%	2.59%	4.65%	8.57%	1.67%	1.68%
FRBEX Fidelity Freedom 2070 Fund Class K	4.18%	2.38%	2.40%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FRBEX and FIRMX in my portfolio?

FRBEX and FIRMX have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.