FRHMX vs. LIVIX

Last updated Jul 15, 2026

FRHMX (Fidelity Managed Retirement Income Fund Class K6) and LIVIX (BlackRock LifePath Index 2055 Fund) are both Target Retirement Date funds from BlackRock. A 0.70 correlation means they provide meaningful diversification when combined. FRHMX charges 0.25%/yr vs 0.10%/yr for LIVIX.

Performance

FRHMX vs. LIVIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Managed Retirement Income Fund Class K6 (FRHMX) and BlackRock LifePath Index 2055 Fund (LIVIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FRHMX

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

LIVIX

• 1D: -1.12%
• 1M: 0.03%
• 6M: 8.32%
• YTD: 11.17%
• 1Y: 22.29%
• 3Y*: 17.38%
• 5Y*: 9.71%
• 10Y*: 11.59%

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

FRHMX vs. LIVIX - 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%
LIVIX BlackRock LifePath Index 2055 Fund	11.17%	21.57%	13.60%	21.62%	-18.38%	18.75%	14.99%	8.80%

Correlation

The correlation between FRHMX and LIVIX is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (5Y) Calculated over the trailing 5-year period	0.70
Correlation (All Time) Calculated using the full available price history since Aug 1, 2019	0.70

The correlation between FRHMX and LIVIX shifts across timeframes, from 0.70 (5 years) to 0.81 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

FRHMX vs. LIVIX — Risk / Return Rank

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

FRHMX

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

LIVIX

LIVIX Risk / Return Rank: 60
LIVIX Sharpe Ratio Rank: 57
LIVIX Sortino Ratio Rank: 56
LIVIX Omega Ratio Rank: 56
LIVIX Calmar Ratio Rank: 61
LIVIX Martin Ratio Rank: 70

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.

FRHMX vs. LIVIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Managed Retirement Income Fund Class K6 (FRHMX) and BlackRock LifePath Index 2055 Fund (LIVIX). 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	LIVIX	Difference
Sharpe ratio: Return per unit of total volatility	—	1.68	—
Sortino ratio: Return per unit of downside risk	—	2.36	—
Omega ratio: Gain probability vs. loss probability	—	1.31	—
Calmar ratio: Return relative to maximum drawdown	—	2.40	—
Martin ratio: Return relative to average drawdown	—	10.23	—

Drawdowns

Drawdown Indicators

	FRHMX	LIVIX	Difference
Max Drawdown Largest peak-to-trough decline	—	-34.44%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-9.44%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-17.39%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-26.45%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-34.44%	—
Current Drawdown Current decline from peak	—	-1.70%	—
Average Drawdown Average peak-to-trough decline	—	-4.50%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.21%	—

Volatility

Volatility by Period

	FRHMX	LIVIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.51%	—
Volatility (6M) Calculated over the trailing 6-month period	—	11.29%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	13.46%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	15.99%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	16.67%	—

FRHMX vs. LIVIX - Expense Ratio Comparison

FRHMX has a 0.25% expense ratio, which is higher than LIVIX's 0.10% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

FRHMX vs. LIVIX - Dividend Comparison

FRHMX's dividend yield for the trailing twelve months is around 102.92%, more than LIVIX's 2.23% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FRHMX Fidelity Managed Retirement Income Fund Class K6	102.92%	3.22%	3.24%	3.02%	4.77%	3.78%	2.61%	1.95%	0.00%	0.00%	0.00%	0.00%
LIVIX BlackRock LifePath Index 2055 Fund	2.23%	2.48%	0.01%	2.04%	1.96%	2.04%	1.56%	2.95%	2.35%	2.27%	1.54%	2.88%

Frequently Asked Questions

Can I hold both FRHMX and LIVIX in my portfolio?

FRHMX and LIVIX have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.