FSNLX vs. FRQHX

Last updated Jul 17, 2026

FSNLX (Fidelity Freedom 2015 Fund Class K) and FRQHX (Fidelity Managed Retirement 2010 Fund Class K6) are both Target Retirement Date funds. Their correlation of 0.95 suggests significant overlap in exposure. FSNLX charges 0.47%/yr vs 0.26%/yr for FRQHX.

Performance

FSNLX vs. FRQHX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Freedom 2015 Fund Class K (FSNLX) and Fidelity Managed Retirement 2010 Fund Class K6 (FRQHX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FSNLX

• 1D: 0.24%
• 1M: -0.48%
• 6M: 4.24%
• YTD: 5.79%
• 1Y: 12.18%
• 3Y*: 9.72%
• 5Y*: 4.30%
• 10Y*: —

FRQHX

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FSNLX vs. FRQHX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FSNLX Fidelity Freedom 2015 Fund Class K	5.79%	13.23%	6.29%	11.43%	-14.53%	7.36%	12.32%	5.43%
FRQHX Fidelity Managed Retirement 2010 Fund Class K6	3.71%	10.01%	4.68%	8.75%	-12.22%	4.04%	9.80%	3.95%

Correlation

The correlation between FSNLX and FRQHX 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	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (All Time) Calculated using the full available price history since Aug 1, 2019	0.95

The correlation between FSNLX and FRQHX has been stable across timeframes, ranging from 0.91 to 0.95 - a consistent structural relationship.

Return for Risk

FSNLX vs. FRQHX — Risk / Return Rank

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

FSNLX

FSNLX Risk / Return Rank: 72
FSNLX Sharpe Ratio Rank: 70
FSNLX Sortino Ratio Rank: 69
FSNLX Omega Ratio Rank: 73
FSNLX Calmar Ratio Rank: 69
FSNLX Martin Ratio Rank: 77

FRQHX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

FSNLX vs. FRQHX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Freedom 2015 Fund Class K (FSNLX) and Fidelity Managed Retirement 2010 Fund Class K6 (FRQHX). 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.

	FSNLX	FRQHX	Difference
Sharpe ratio: Return per unit of total volatility	1.93	—	—
Sortino ratio: Return per unit of downside risk	2.74	—	—
Omega ratio: Gain probability vs. loss probability	1.37	—	—
Calmar ratio: Return relative to maximum drawdown	2.67	—	—
Martin ratio: Return relative to average drawdown	11.40	—	—

Drawdowns

Drawdown Indicators

	FSNLX	FRQHX	Difference
Max Drawdown Largest peak-to-trough decline	-20.41%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-4.70%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-6.76%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-20.41%	—	—
Current Drawdown Current decline from peak	-0.63%	—	—
Average Drawdown Average peak-to-trough decline	-4.01%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	1.10%	—	—

Volatility

Volatility by Period

	FSNLX	FRQHX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.19%	—	—
Volatility (6M) Calculated over the trailing 6-month period	5.70%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	6.54%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.71%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.90%	—	—

FSNLX vs. FRQHX - Expense Ratio Comparison

FSNLX has a 0.47% expense ratio, which is higher than FRQHX's 0.26% expense ratio.

Dividends

FSNLX vs. FRQHX - Dividend Comparison

FSNLX's dividend yield for the trailing twelve months is around 6.47%, more than FRQHX's 3.25% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FRQHX Fidelity Managed Retirement 2010 Fund Class K6	3.25%	3.20%	3.20%	2.95%	5.25%	6.22%	3.70%	2.57%	0.00%	0.00%
FSNLX Fidelity Freedom 2015 Fund Class K	6.47%	6.50%	4.02%	2.74%	8.44%	10.79%	6.72%	6.77%	8.21%	2.16%

Frequently Asked Questions

Can I hold both FSNLX and FRQHX in my portfolio?

With a correlation of 0.91, FSNLX and FRQHX 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.