FRHMX vs. FIRMX
FRHMX (Fidelity Managed Retirement Income Fund Class K6) and FIRMX (Fidelity Managed Retirement Income Fund) are both Target Retirement Date funds from BlackRock. Over the past 5 years, FRHMX returned 596.10%/yr vs 2.79%/yr for FIRMX. With a 0.99 correlation, they move nearly in lockstep. FRHMX charges 0.25%/yr vs 0.45%/yr for FIRMX.
Performance
FRHMX vs. FIRMX - Performance Comparison
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Returns By Period
In the year-to-date period, FRHMX achieves a 1,464,383.96% return, which is significantly higher than FIRMX's 3.60% return.
FRHMX
- 1D
- 1,410,365.12%
- 1M
- 1,421,616.96%
- YTD
- 1,464,383.96%
- 6M
- 1,464,432.61%
- 1Y
- 1,543,480.72%
- 3Y*
- 2,494.75%
- 5Y*
- 596.10%
- 10Y*
- —
FIRMX
- 1D
- 0.00%
- 1M
- 0.65%
- YTD
- 3.60%
- 6M
- 3.59%
- 1Y
- 9.08%
- 3Y*
- 7.18%
- 5Y*
- 2.79%
- 10Y*
- 4.21%
FRHMX vs. FIRMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
FRHMX Fidelity Managed Retirement Income Fund Class K6 | 1,464,383.96% | 10.02% | 4.50% | 8.28% | -11.48% | 2.98% | 8.79% | 3.17% |
FIRMX Fidelity Managed Retirement Income Fund | 3.60% | 9.95% | 4.29% | 8.07% | -11.66% | 2.77% | 8.57% | 3.24% |
Correlation
The correlation between FRHMX and FIRMX is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | 1.00 |
Correlation (5Y) Calculated over the trailing 5-year period | 1.00 |
Correlation (All Time) Calculated using the full available price history since Aug 1, 2019 | 0.99 |
The correlation between FRHMX and FIRMX has been stable across timeframes, ranging from 0.99 to 1.00 - a consistent structural relationship.
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Return for Risk
FRHMX vs. FIRMX — Risk / Return Rank
FRHMX
FIRMX
FRHMX vs. FIRMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Managed Retirement Income Fund Class K6 (FRHMX) 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.
| FRHMX | FIRMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.05 | ||
| Sortino ratioReturn per unit of downside risk | +488,363.85 | ||
| Omega ratioGain probability vs. loss probability | 68,097.73 | 1.44 | +68,096.29 |
| Calmar ratioReturn relative to maximum drawdown | 470,348.34 | 2.77 | +470,345.57 |
| Martin ratioReturn relative to average drawdown | 1,985,653.35 | 11.63 | +1,985,641.72 |
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Drawdowns
FRHMX vs. FIRMX - Drawdown Comparison
The maximum FRHMX drawdown since its inception was -15.96%, smaller than the maximum FIRMX drawdown of -33.73%. Use the drawdown chart below to compare losses from any high point for FRHMX and FIRMX.
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Drawdown Indicators
| FRHMX | FIRMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.96% | -33.73% | +17.77% |
Max Drawdown (1Y)Largest decline over 1 year | -3.42% | -3.44% | +0.02% |
Max Drawdown (3Y)Largest decline over 3 years | -4.90% | -4.96% | +0.06% |
Max Drawdown (5Y)Largest decline over 5 years | -15.96% | -16.11% | +0.15% |
Max Drawdown (10Y)Largest decline over 10 years | — | -16.11% | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.42% | +0.42% |
Average DrawdownAverage peak-to-trough decline | -3.49% | -3.70% | +0.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.81% | 0.82% | -0.01% |
Volatility
FRHMX vs. FIRMX - Volatility Comparison
Fidelity Managed Retirement Income Fund Class K6 (FRHMX) has a higher volatility of 955.41% compared to Fidelity Managed Retirement Income Fund (FIRMX) at 2.02%. This indicates that FRHMX's price experiences larger fluctuations and is considered to be riskier than FIRMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FRHMX | FIRMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 955.41% | 2.02% | +953.39% |
Volatility (6M)Calculated over the trailing 6-month period | 955.40% | 3.70% | +951.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 1,413,171.78% | 4.36% | +1,413,167.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 631,989.64% | 5.32% | +631,984.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 538,904.02% | 4.54% | +538,899.48% |
FRHMX vs. FIRMX - Expense Ratio Comparison
FRHMX has a 0.25% expense ratio, which is lower than FIRMX's 0.45% expense ratio.
Dividends
FRHMX vs. FIRMX - Dividend Comparison
FRHMX's dividend yield for the trailing twelve months is around 103.07%, more than FIRMX's 3.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FIRMX Fidelity Managed Retirement Income Fund | 3.25% | 3.13% | 3.02% | 2.81% | 4.54% | 3.56% | 2.48% | 2.59% | 4.65% | 8.57% | 1.67% | 1.68% |
FRHMX Fidelity Managed Retirement Income Fund Class K6 | 103.07% | 3.22% | 3.24% | 3.02% | 4.77% | 3.78% | 2.61% | 1.95% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.99, FRHMX and FIRMX 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.
FRHMX has higher volatility (955.41%) compared to FIRMX (2.02%). In terms of maximum drawdown, FRHMX dropped -15.96% vs FIRMX's -33.73%.
FIRMX currently has the higher Sharpe Ratio (2.19 vs 1.14), 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.
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