FRQIX vs. FRHMX
FRQIX (Fidelity Advisor Managed Retirement 2010 Fund Class I) and FRHMX (Fidelity Managed Retirement Income Fund Class K6) are both Target Retirement Date funds from BlackRock. With a 0.98 correlation, they move nearly in lockstep. FRQIX charges 0.46%/yr vs 0.25%/yr for FRHMX.
Performance
FRQIX vs. FRHMX - Performance Comparison
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Returns By Period
FRQIX
- 1D
- 0.00%
- 1M
- 0.00%
- 6M
- 2.71%
- YTD
- 3.60%
- 1Y
- 8.30%
- 3Y*
- 7.40%
- 5Y*
- 2.72%
- 10Y*
- 5.14%
FRHMX
- 1D
- —
- 1M
- —
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FRQIX vs. FRHMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
FRQIX Fidelity Advisor Managed Retirement 2010 Fund Class I | 3.60% | 9.97% | 4.48% | 8.52% | -12.39% | 3.82% | 9.58% | 3.95% |
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% |
Correlation
The correlation between FRQIX and FRHMX 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 | 0.99 |
Correlation (All Time) Calculated using the full available price history since Aug 1, 2019 | 0.99 |
The correlation between FRQIX and FRHMX has been stable across timeframes, ranging from 0.98 to 1.00 - a consistent structural relationship.
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Return for Risk
FRQIX vs. FRHMX — Risk / Return Rank
FRQIX
FRHMX
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
FRQIX vs. FRHMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Managed Retirement 2010 Fund Class I (FRQIX) and Fidelity Managed Retirement Income Fund Class K6 (FRHMX). 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.
| FRQIX | FRHMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.38 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.39 | — | — |
| Martin ratioReturn relative to average drawdown | 9.97 | — | — |
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Drawdowns
FRQIX vs. FRHMX - Drawdown Comparison
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Drawdown Indicators
| FRQIX | FRHMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.01% | — | — |
Max Drawdown (1Y)Largest decline over 1 year | -3.43% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -5.21% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -17.04% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -17.04% | — | — |
Current DrawdownCurrent decline from peak | -0.42% | — | — |
Average DrawdownAverage peak-to-trough decline | -4.42% | — | — |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.82% | — | — |
Volatility
FRQIX vs. FRHMX - Volatility Comparison
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Volatility by Period
| FRQIX | FRHMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.59% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 3.66% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 4.32% | — | — |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.60% | — | — |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.28% | — | — |
FRQIX vs. FRHMX - Expense Ratio Comparison
FRQIX has a 0.46% expense ratio, which is higher than FRHMX's 0.25% expense ratio.
Dividends
FRQIX vs. FRHMX - Dividend Comparison
FRQIX's dividend yield for the trailing twelve months is around 3.09%, less than FRHMX's 102.92% 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% |
FRQIX Fidelity Advisor Managed Retirement 2010 Fund Class I | 3.09% | 3.14% | 2.97% | 2.75% | 5.01% | 6.00% | 3.51% | 3.14% | 5.60% | 16.32% | 2.43% | 4.08% |
Frequently Asked Questions
With a correlation of 0.99, FRQIX and FRHMX 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.
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