PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
FRKMX vs. WFSPX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FRKMX vs. WFSPX

Last updated Jun 4, 2026

FRKMX (Fidelity Managed Retirement Income Fund Class K) and WFSPX (iShares S&P 500 Index Fund) are both mutual funds - FRKMX is a Target Retirement Date fund managed by BlackRock, while WFSPX is a S&P 500 fund tracking the S&P 500 Index. Over the past 5 years, FRKMX returned 2.99%/yr vs 14.24%/yr for WFSPX. A 0.63 correlation means they provide meaningful diversification when combined. FRKMX charges 0.35%/yr vs 0.03%/yr for WFSPX.

Performance

FRKMX vs. WFSPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Managed Retirement Income Fund Class K (FRKMX) and iShares S&P 500 Index Fund (WFSPX). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, FRKMX achieves a 4.09% return, which is significantly lower than WFSPX's 11.69% return.

FRKMX

1D
0.21%
1M
1.55%
YTD
4.09%
6M
4.31%
1Y
10.51%
3Y*
7.64%
5Y*
2.99%
10Y*
—

WFSPX

1D
0.13%
1M
5.80%
YTD
11.69%
6M
11.72%
1Y
28.93%
3Y*
22.71%
5Y*
14.24%
10Y*
15.54%
*Multi-year figures are annualized to reflect compound growth (CAGR)

FRKMX vs. WFSPX - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
FRKMX
Fidelity Managed Retirement Income Fund Class K		4.09%9.91%4.40%8.17%-11.57%2.88%8.68%3.08%
WFSPX
iShares S&P 500 Index Fund		11.69%17.83%24.94%26.25%-18.14%28.63%18.43%10.33%

Correlation

The correlation between FRKMX and WFSPX is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.72

Correlation (3Y)
Calculated over the trailing 3-year period

0.64

Correlation (5Y)
Calculated over the trailing 5-year period

0.62

Correlation (All Time)
Calculated using the full available price history since Aug 2, 2019

0.63

The correlation between FRKMX and WFSPX has been stable across timeframes, ranging from 0.62 to 0.72 - a consistent structural relationship.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Fidelity Managed Retirement Income Fund Class K

iShares S&P 500 Index Fund

Often compared with FRKMX:
FRKMX vs. TBLYXFRKMX vs. FCQTXFRKMX vs. FHNDXFRKMX vs. LINKXFRKMX vs. TRRLXFRKMX vs. PLTQXFRKMX vs. FFFYX
Often compared with WFSPX:
WFSPX vs. JLGMXWFSPX vs. VOOWFSPX vs. FSPGXWFSPX vs. FXAIXWFSPX vs. BRMKXWFSPX vs. IVVWFSPX vs. APGYX

Return for Risk

FRKMX vs. WFSPX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FRKMX
FRKMX Risk / Return Rank: 7373
Overall Rank
FRKMX Sharpe Ratio Rank: 7878
Sharpe Ratio Rank
FRKMX Sortino Ratio Rank: 7979
Sortino Ratio Rank
FRKMX Omega Ratio Rank: 7878
Omega Ratio Rank
FRKMX Calmar Ratio Rank: 6464
Calmar Ratio Rank
FRKMX Martin Ratio Rank: 6868
Martin Ratio Rank
WFSPX
WFSPX Risk / Return Rank: 7373
Overall Rank
WFSPX Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
WFSPX Sortino Ratio Rank: 6767
Sortino Ratio Rank
WFSPX Omega Ratio Rank: 6767
Omega Ratio Rank
WFSPX Calmar Ratio Rank: 7474
Calmar Ratio Rank
WFSPX Martin Ratio Rank: 8383
Martin Ratio Rank
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.

FRKMX vs. WFSPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Managed Retirement Income Fund Class K (FRKMX) and iShares S&P 500 Index Fund (WFSPX). 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.

FRKMXWFSPXDifference
Sharpe ratioReturn per unit of total volatility
2.55
2.52

+0.04

Sortino ratioReturn per unit of downside risk
3.76
3.42

+0.34

Omega ratioGain probability vs. loss probability

1.51

1.46

+0.05

Calmar ratioReturn relative to maximum drawdown

3.10

3.35

-0.25

Martin ratioReturn relative to average drawdown

13.23

15.65

-2.42

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FRKMX vs. WFSPX - Sharpe Ratio Comparison

The current FRKMX Sharpe Ratio is 2.55, which is comparable to the WFSPX Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of FRKMX and WFSPX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Sharpe Ratios by Period

FRKMXWFSPXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.55

2.52

+0.04

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.57

0.85

-0.28

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.87

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.80

0.13

+0.67

Drawdowns

FRKMX vs. WFSPX - Drawdown Comparison

The maximum FRKMX drawdown since its inception was -16.04%, smaller than the maximum WFSPX drawdown of -58.21%. Use the drawdown chart below to compare losses from any high point for FRKMX and WFSPX.

Loading charts...

Drawdown Indicators

FRKMXWFSPXDifference

Max Drawdown

Largest peak-to-trough decline

-16.04%

-58.21%

+42.17%

Max Drawdown (1Y)

Largest decline over 1 year

-3.42%

-8.90%

+5.48%

Max Drawdown (3Y)

Largest decline over 3 years

-4.93%

-18.74%

+13.81%

Max Drawdown (5Y)

Largest decline over 5 years

-16.04%

-24.51%

+8.47%

Max Drawdown (10Y)

Largest decline over 10 years

—

-33.74%

—

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-3.56%

-12.77%

+9.21%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.80%

1.90%

-1.10%

Volatility

FRKMX vs. WFSPX - Volatility Comparison

The current volatility for Fidelity Managed Retirement Income Fund Class K (FRKMX) is 1.67%, while iShares S&P 500 Index Fund (WFSPX) has a volatility of 2.82%. This indicates that FRKMX experiences smaller price fluctuations and is considered to be less risky than WFSPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

FRKMXWFSPXDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.67%

2.82%

-1.15%

Volatility (6M)

Calculated over the trailing 6-month period

3.42%

8.97%

-5.55%

Volatility (1Y)

Calculated over the trailing 1-year period

4.15%

11.85%

-7.70%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

5.29%

16.88%

-11.59%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

5.14%

18.02%

-12.88%

FRKMX vs. WFSPX - Expense Ratio Comparison

FRKMX has a 0.35% expense ratio, which is higher than WFSPX's 0.03% expense ratio.

Dividends

FRKMX vs. WFSPX - Dividend Comparison

FRKMX's dividend yield for the trailing twelve months is around 3.20%, more than WFSPX's 1.56% yield.

PositionTTM20252024202320222021202020192018201720162015
FRKMX
Fidelity Managed Retirement Income Fund Class K		3.20%3.11%3.12%2.92%4.66%3.65%2.56%1.85%0.00%0.00%0.00%0.00%
WFSPX
iShares S&P 500 Index Fund		1.56%1.72%1.41%1.50%2.02%1.82%1.66%1.99%2.00%1.62%2.37%2.49%

Frequently Asked Questions

FRKMX and WFSPX have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

WFSPX has higher volatility (2.82%) compared to FRKMX (1.67%). In terms of maximum drawdown, FRKMX dropped -16.04% vs WFSPX's -58.21%.

FRKMX currently has the higher Sharpe Ratio (2.55 vs 2.52), 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.

Portfolio Optimizer

Find the right allocation for FRKMX and WFSPX

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer