FSNVX vs. FRKMX

Last updated Jul 16, 2026

FSNVX (Fidelity Freedom 2040 Fund Class K) and FRKMX (Fidelity Managed Retirement Income Fund Class K) are both Target Retirement Date funds. A 0.75 correlation means they provide meaningful diversification when combined. FSNVX charges 0.65%/yr vs 0.35%/yr for FRKMX.

Performance

FSNVX vs. FRKMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Freedom 2040 Fund Class K (FSNVX) and Fidelity Managed Retirement Income Fund Class K (FRKMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FSNVX

• 1D: 0.63%
• 1M: -1.10%
• 6M: 8.67%
• YTD: 11.51%
• 1Y: 23.03%
• 3Y*: 18.40%
• 5Y*: 9.96%
• 10Y*: —

FRKMX

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

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

FSNVX vs. FRKMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FSNVX Fidelity Freedom 2040 Fund Class K	11.51%	22.12%	16.08%	20.08%	-18.17%	16.62%	18.44%	8.98%
FRKMX Fidelity Managed Retirement Income Fund Class K	15,640,638.04%	9.91%	4.40%	8.17%	-11.57%	2.88%	8.68%	3.08%

Correlation

The correlation between FSNVX and FRKMX is 0.82, 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	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.78
Correlation (5Y) Calculated over the trailing 5-year period	0.75
Correlation (All Time) Calculated using the full available price history since Aug 1, 2019	0.75

The correlation between FSNVX and FRKMX has been stable across timeframes, ranging from 0.75 to 0.82 - a consistent structural relationship.

Return for Risk

FSNVX vs. FRKMX — Risk / Return Rank

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

FSNVX

FSNVX Risk / Return Rank: 71
FSNVX Sharpe Ratio Rank: 69
FSNVX Sortino Ratio Rank: 66
FSNVX Omega Ratio Rank: 69
FSNVX Calmar Ratio Rank: 72
FSNVX Martin Ratio Rank: 80

FRKMX

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.

FSNVX vs. FRKMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Freedom 2040 Fund Class K (FSNVX) and Fidelity Managed Retirement Income Fund Class K (FRKMX). 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.

	FSNVX	FRKMX	Difference
Sharpe ratio: Return per unit of total volatility	1.81	—	—
Sortino ratio: Return per unit of downside risk	2.51	—	—
Omega ratio: Gain probability vs. loss probability	1.34	—	—
Calmar ratio: Return relative to maximum drawdown	2.60	—	—
Martin ratio: Return relative to average drawdown	11.10	—	—

Drawdowns

Drawdown Indicators

	FSNVX	FRKMX	Difference
Max Drawdown Largest peak-to-trough decline	-30.96%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-8.71%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-14.08%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-27.21%	—	—
Current Drawdown Current decline from peak	-1.37%	—	—
Average Drawdown Average peak-to-trough decline	-5.52%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	2.03%	—	—

Volatility

Volatility by Period

	FSNVX	FRKMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.07%	—	—
Volatility (6M) Calculated over the trailing 6-month period	10.68%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	12.48%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.53%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.66%	—	—

FSNVX vs. FRKMX - Expense Ratio Comparison

FSNVX has a 0.65% expense ratio, which is higher than FRKMX's 0.35% expense ratio.

Dividends

FSNVX vs. FRKMX - Dividend Comparison

FSNVX's dividend yield for the trailing twelve months is around 6.39%, less than FRKMX's 103.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FRKMX Fidelity Managed Retirement Income Fund Class K	103.22%	3.11%	3.12%	2.92%	4.66%	3.65%	2.56%	1.85%	0.00%	0.00%
FSNVX Fidelity Freedom 2040 Fund Class K	6.39%	5.08%	5.22%	1.85%	12.39%	12.13%	5.74%	6.76%	8.06%	3.10%

Frequently Asked Questions

Can I hold both FSNVX and FRKMX in my portfolio?

FSNVX and FRKMX have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.