FRQKX vs. FIRMX
FRQKX (Fidelity Managed Retirement 2010 Fund Class K) and FIRMX (Fidelity Managed Retirement Income Fund) are both Target Retirement Date funds from BlackRock. Over the past 5 years, FRQKX returned 2.83%/yr vs 2.79%/yr for FIRMX. With a 0.99 correlation, they move nearly in lockstep. FRQKX charges 0.36%/yr vs 0.45%/yr for FIRMX.
Performance
FRQKX vs. FIRMX - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with FRQKX having a 3.66% return and FIRMX slightly lower at 3.60%.
FRQKX
- 1D
- 0.00%
- 1M
- 0.67%
- YTD
- 3.66%
- 6M
- 3.65%
- 1Y
- 9.22%
- 3Y*
- 7.28%
- 5Y*
- 2.83%
- 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%
FRQKX vs. FIRMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
FRQKX Fidelity Managed Retirement 2010 Fund Class K | 3.66% | 9.91% | 4.42% | 8.62% | -12.30% | 3.95% | 9.68% | 3.94% |
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 FRQKX and FIRMX is 1.00 - 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 | 1.00 |
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 FRQKX 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
FRQKX vs. FIRMX — Risk / Return Rank
FRQKX
FIRMX
FRQKX vs. FIRMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Managed Retirement 2010 Fund Class K (FRQKX) 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.
| FRQKX | FIRMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.04 | ||
| Sortino ratioReturn per unit of downside risk | +0.06 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.44 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.84 | 2.77 | +0.07 |
| Martin ratioReturn relative to average drawdown | 11.89 | 11.63 | +0.26 |
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Drawdowns
FRQKX vs. FIRMX - Drawdown Comparison
The maximum FRQKX drawdown since its inception was -16.97%, smaller than the maximum FIRMX drawdown of -33.73%. Use the drawdown chart below to compare losses from any high point for FRQKX and FIRMX.
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Drawdown Indicators
| FRQKX | FIRMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.97% | -33.73% | +16.76% |
Max Drawdown (1Y)Largest decline over 1 year | -3.42% | -3.44% | +0.02% |
Max Drawdown (3Y)Largest decline over 3 years | -5.17% | -4.96% | -0.21% |
Max Drawdown (5Y)Largest decline over 5 years | -16.97% | -16.11% | -0.86% |
Max Drawdown (10Y)Largest decline over 10 years | — | -16.11% | — |
Current DrawdownCurrent decline from peak | -0.42% | -0.42% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -3.84% | -3.70% | -0.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.82% | 0.82% | 0.00% |
Volatility
FRQKX vs. FIRMX - Volatility Comparison
Fidelity Managed Retirement 2010 Fund Class K (FRQKX) and Fidelity Managed Retirement Income Fund (FIRMX) have volatilities of 2.02% and 2.02%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FRQKX | FIRMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.02% | 2.02% | 0.00% |
Volatility (6M)Calculated over the trailing 6-month period | 3.71% | 3.70% | +0.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.37% | 4.36% | +0.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.60% | 5.32% | +0.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.78% | 4.54% | +1.24% |
FRQKX vs. FIRMX - Expense Ratio Comparison
FRQKX has a 0.36% expense ratio, which is lower than FIRMX's 0.45% expense ratio.
Dividends
FRQKX vs. FIRMX - Dividend Comparison
FRQKX's dividend yield for the trailing twelve months is around 3.42%, 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% |
FRQKX Fidelity Managed Retirement 2010 Fund Class K | 3.42% | 3.09% | 2.91% | 2.86% | 5.12% | 6.11% | 3.61% | 2.57% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 1.00, FRQKX 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.
FIRMX has higher volatility (2.02%) compared to FRQKX (2.02%). In terms of maximum drawdown, FRQKX dropped -16.97% vs FIRMX's -33.73%.
FRQKX currently has the higher Sharpe Ratio (2.23 vs 2.19), 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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