FRQKX vs. SSBWX

Last updated Jun 4, 2026

FRQKX (Fidelity Managed Retirement 2010 Fund Class K) and SSBWX (State Street Target Retirement 2030 Fund) are both Target Retirement Date funds. Over the past 5 years, FRQKX returned 2.96%/yr vs 6.52%/yr for SSBWX. Their correlation of 0.86 suggests significant overlap in exposure. FRQKX charges 0.36%/yr vs 0.15%/yr for SSBWX.

Performance

FRQKX vs. SSBWX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Managed Retirement 2010 Fund Class K (FRQKX) and State Street Target Retirement 2030 Fund (SSBWX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FRQKX achieves a 4.10% return, which is significantly lower than SSBWX's 7.96% return.

FRQKX

• 1D: 0.21%
• 1M: 1.55%
• YTD: 4.10%
• 6M: 4.33%
• 1Y: 10.54%
• 3Y*: 7.71%
• 5Y*: 2.96%
• 10Y*: —

SSBWX

• 1D: 0.27%
• 1M: 3.08%
• YTD: 7.96%
• 6M: 8.30%
• 1Y: 19.22%
• 3Y*: 13.97%
• 5Y*: 6.52%
• 10Y*: 9.01%

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

FRQKX vs. SSBWX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FRQKX Fidelity Managed Retirement 2010 Fund Class K	4.10%	9.91%	4.42%	8.62%	-12.30%	3.95%	9.68%	3.94%
SSBWX State Street Target Retirement 2030 Fund	7.96%	15.92%	9.76%	15.66%	-17.17%	10.75%	17.27%	7.24%

Correlation

The correlation between FRQKX and SSBWX is 0.89, 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	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (All Time) Calculated using the full available price history since Aug 2, 2019	0.86

The correlation between FRQKX and SSBWX has been stable across timeframes, ranging from 0.84 to 0.89 - a consistent structural relationship.

Return for Risk

FRQKX vs. SSBWX — Risk / Return Rank

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

FRQKX

FRQKX Risk / Return Rank: 74
FRQKX Sharpe Ratio Rank: 78
FRQKX Sortino Ratio Rank: 80
FRQKX Omega Ratio Rank: 79
FRQKX Calmar Ratio Rank: 66
FRQKX Martin Ratio Rank: 68

SSBWX

SSBWX Risk / Return Rank: 75
SSBWX Sharpe Ratio Rank: 80
SSBWX Sortino Ratio Rank: 79
SSBWX Omega Ratio Rank: 79
SSBWX Calmar Ratio Rank: 65
SSBWX Martin Ratio Rank: 73

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.

FRQKX vs. SSBWX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Managed Retirement 2010 Fund Class K (FRQKX) and State Street Target Retirement 2030 Fund (SSBWX). 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.

	FRQKX	SSBWX	Difference
Sharpe ratio: Return per unit of total volatility	2.57	2.61	-0.05
Sortino ratio: Return per unit of downside risk	3.78	3.74	+0.04
Omega ratio: Gain probability vs. loss probability	1.52	1.52	0.00
Calmar ratio: Return relative to maximum drawdown	3.12	3.13	-0.01
Martin ratio: Return relative to average drawdown	13.27	13.90	-0.62
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FRQKX vs. SSBWX - Sharpe Ratio Comparison

The current FRQKX Sharpe Ratio is 2.57, which is comparable to the SSBWX Sharpe Ratio of 2.61. The chart below compares the historical Sharpe Ratios of FRQKX and SSBWX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FRQKX	SSBWX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.57	2.61	-0.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.54	0.62	-0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.80	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.78	0.73	+0.05

Drawdowns

FRQKX vs. SSBWX - Drawdown Comparison

The maximum FRQKX drawdown since its inception was -16.97%, smaller than the maximum SSBWX drawdown of -23.73%. Use the drawdown chart below to compare losses from any high point for FRQKX and SSBWX.

Drawdown Indicators

	FRQKX	SSBWX	Difference
Max Drawdown Largest peak-to-trough decline	-16.97%	-23.73%	+6.76%
Max Drawdown (1Y) Largest decline over 1 year	-3.42%	-6.20%	+2.78%
Max Drawdown (3Y) Largest decline over 3 years	-5.17%	-9.73%	+4.56%
Max Drawdown (5Y) Largest decline over 5 years	-16.97%	-23.73%	+6.76%
Max Drawdown (10Y) Largest decline over 10 years	—	-23.73%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-3.86%	-4.17%	+0.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.80%	1.39%	-0.59%

Volatility

FRQKX vs. SSBWX - Volatility Comparison

The current volatility for Fidelity Managed Retirement 2010 Fund Class K (FRQKX) is 1.66%, while State Street Target Retirement 2030 Fund (SSBWX) has a volatility of 2.33%. This indicates that FRQKX experiences smaller price fluctuations and is considered to be less risky than SSBWX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FRQKX	SSBWX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.66%	2.33%	-0.67%
Volatility (6M) Calculated over the trailing 6-month period	3.43%	5.97%	-2.54%
Volatility (1Y) Calculated over the trailing 1-year period	4.16%	7.42%	-3.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.56%	10.65%	-5.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.76%	11.33%	-5.57%

FRQKX vs. SSBWX - Expense Ratio Comparison

FRQKX has a 0.36% expense ratio, which is higher than SSBWX's 0.15% expense ratio.

Dividends

FRQKX vs. SSBWX - Dividend Comparison

FRQKX's dividend yield for the trailing twelve months is around 3.22%, less than SSBWX's 6.40% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FRQKX Fidelity Managed Retirement 2010 Fund Class K	3.22%	3.09%	2.91%	2.86%	5.12%	6.11%	3.61%	2.57%	0.00%	0.00%	0.00%	0.00%
SSBWX State Street Target Retirement 2030 Fund	6.40%	6.91%	6.16%	4.11%	5.78%	6.18%	4.92%	6.65%	5.24%	0.46%	1.75%	2.11%

Frequently Asked Questions

Can I hold both FRQKX and SSBWX in my portfolio?

FRQKX and SSBWX have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FRQKX or SSBWX?

SSBWX has higher volatility (2.33%) compared to FRQKX (1.66%). In terms of maximum drawdown, FRQKX dropped -16.97% vs SSBWX's -23.73%.

Which has better risk-adjusted returns?

SSBWX currently has the higher Sharpe Ratio (2.61 vs 2.57), 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.