FRHMX vs. LTTIX

Last updated Jun 24, 2026

FRHMX (Fidelity Managed Retirement Income Fund Class K6) and LTTIX (MFS Lifetime 2025 Fund) are both Target Retirement Date funds. Over the past 5 years, FRHMX returned 596.10%/yr vs 3.72%/yr for LTTIX. Their correlation of 0.86 suggests significant overlap in exposure. FRHMX charges 0.25%/yr vs 0.00%/yr for LTTIX.

Performance

FRHMX vs. LTTIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Managed Retirement Income Fund Class K6 (FRHMX) and MFS Lifetime 2025 Fund (LTTIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FRHMX achieves a 1,464,383.96% return, which is significantly higher than LTTIX's 2.74% 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*: —

LTTIX

• 1D: 0.00%
• 1M: 0.08%
• YTD: 2.74%
• 6M: 2.59%
• 1Y: 8.04%
• 3Y*: 8.33%
• 5Y*: 3.72%
• 10Y*: 6.24%

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

FRHMX vs. LTTIX - 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%
LTTIX MFS Lifetime 2025 Fund	2.74%	9.29%	6.73%	10.36%	-12.36%	8.61%	10.61%	4.54%

Correlation

The correlation between FRHMX and LTTIX is 0.91, 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	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (All Time) Calculated using the full available price history since Aug 1, 2019	0.86

The correlation between FRHMX and LTTIX has been stable across timeframes, ranging from 0.86 to 0.91 - a consistent structural relationship.

Return for Risk

FRHMX vs. LTTIX — Risk / Return Rank

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

FRHMX

FRHMX Risk / Return Rank: 84
FRHMX Sharpe Ratio Rank: 18
FRHMX Sortino Ratio Rank: 100
FRHMX Omega Ratio Rank: 100
FRHMX Calmar Ratio Rank: 100
FRHMX Martin Ratio Rank: 100

LTTIX

LTTIX Risk / Return Rank: 61
LTTIX Sharpe Ratio Rank: 64
LTTIX Sortino Ratio Rank: 71
LTTIX Omega Ratio Rank: 69
LTTIX Calmar Ratio Rank: 46
LTTIX Martin Ratio Rank: 56

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. LTTIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Managed Retirement Income Fund Class K6 (FRHMX) and MFS Lifetime 2025 Fund (LTTIX). 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	LTTIX	Difference
Sharpe ratio: Return per unit of total volatility	1.14	2.16	-1.01
Sortino ratio: Return per unit of downside risk	488,367.03	3.20	+488,363.83
Omega ratio: Gain probability vs. loss probability	68,097.73	1.42	+68,096.31
Calmar ratio: Return relative to maximum drawdown	470,348.34	2.47	+470,345.87
Martin ratio: Return relative to average drawdown	1,985,653.35	10.68	+1,985,642.66

FRHMX vs. LTTIX - Sharpe Ratio Comparison

The current FRHMX Sharpe Ratio is 1.14, which is lower than the LTTIX Sharpe Ratio of 2.16. The chart below compares the historical Sharpe Ratios of FRHMX and LTTIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FRHMX vs. LTTIX - Drawdown Comparison

The maximum FRHMX drawdown since its inception was -15.96%, smaller than the maximum LTTIX drawdown of -19.33%. Use the drawdown chart below to compare losses from any high point for FRHMX and LTTIX.

Drawdown Indicators

	FRHMX	LTTIX	Difference
Max Drawdown Largest peak-to-trough decline	-15.96%	-19.33%	+3.37%
Max Drawdown (1Y) Largest decline over 1 year	-3.42%	-3.64%	+0.22%
Max Drawdown (3Y) Largest decline over 3 years	-4.90%	-5.77%	+0.87%
Max Drawdown (5Y) Largest decline over 5 years	-15.96%	-16.92%	+0.96%
Max Drawdown (10Y) Largest decline over 10 years	—	-19.33%	—
Current Drawdown Current decline from peak	0.00%	-0.45%	+0.45%
Average Drawdown Average peak-to-trough decline	-3.49%	-2.68%	-0.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.81%	0.84%	-0.03%

Volatility

FRHMX vs. LTTIX - Volatility Comparison

Fidelity Managed Retirement Income Fund Class K6 (FRHMX) has a higher volatility of 955.41% compared to MFS Lifetime 2025 Fund (LTTIX) at 1.34%. This indicates that FRHMX's price experiences larger fluctuations and is considered to be riskier than LTTIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FRHMX	LTTIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	955.41%	1.34%	+954.07%
Volatility (6M) Calculated over the trailing 6-month period	955.40%	3.32%	+952.08%
Volatility (1Y) Calculated over the trailing 1-year period	1,413,171.78%	4.18%	+1,413,167.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	631,989.64%	6.37%	+631,983.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	538,904.02%	7.24%	+538,896.78%

FRHMX vs. LTTIX - Expense Ratio Comparison

FRHMX has a 0.25% expense ratio, which is higher than LTTIX's 0.00% 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. LTTIX - Dividend Comparison

FRHMX's dividend yield for the trailing twelve months is around 103.07%, more than LTTIX's 11.54% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
LTTIX MFS Lifetime 2025 Fund	11.54%	8.13%	7.07%	3.30%	5.88%	7.35%	2.83%	3.68%	4.32%	3.51%	4.03%	1.82%

Frequently Asked Questions

Can I hold both FRHMX and LTTIX in my portfolio?

With a correlation of 0.91, FRHMX and LTTIX 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.

Which is riskier, FRHMX or LTTIX?

FRHMX has higher volatility (955.41%) compared to LTTIX (1.34%). In terms of maximum drawdown, FRHMX dropped -15.96% vs LTTIX's -19.33%.

Which has better risk-adjusted returns?

LTTIX currently has the higher Sharpe Ratio (2.16 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.