FSXAX vs. FRQKX

Last updated Jun 23, 2026

FSXAX (Fidelity Sustainable Target Date 2030 Fund) and FRQKX (Fidelity Managed Retirement 2010 Fund Class K) are both Target Retirement Date funds. Over the past 3 years, FSXAX returned 13.71%/yr vs 7.28%/yr for FRQKX. Their correlation of 0.88 suggests significant overlap in exposure. FSXAX charges 0.46%/yr vs 0.36%/yr for FRQKX.

Performance

FSXAX vs. FRQKX - Performance Comparison

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

Returns By Period

In the year-to-date period, FSXAX achieves a 9.20% return, which is significantly higher than FRQKX's 3.66% return.

FSXAX

• 1D: 1.01%
• 1M: 2.20%
• YTD: 9.20%
• 6M: 9.19%
• 1Y: 20.24%
• 3Y*: 13.71%
• 5Y*: —
• 10Y*: —

FRQKX

• 1D: 0.00%
• 1M: 0.67%
• YTD: 3.66%
• 6M: 3.80%
• 1Y: 9.52%
• 3Y*: 7.28%
• 5Y*: 2.83%
• 10Y*: —

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

FSXAX vs. FRQKX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FSXAX Fidelity Sustainable Target Date 2030 Fund	9.20%	16.00%	10.39%	9.40%
FRQKX Fidelity Managed Retirement 2010 Fund Class K	3.66%	9.91%	4.42%	5.50%

Correlation

The correlation between FSXAX and FRQKX is 0.90, 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	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (All Time) Calculated using the full available price history since May 25, 2023	0.88

The correlation between FSXAX and FRQKX has been stable across timeframes, ranging from 0.88 to 0.90 - a consistent structural relationship.

Return for Risk

FSXAX vs. FRQKX — Risk / Return Rank

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

FSXAX

FSXAX Risk / Return Rank: 64
FSXAX Sharpe Ratio Rank: 62
FSXAX Sortino Ratio Rank: 62
FSXAX Omega Ratio Rank: 64
FSXAX Calmar Ratio Rank: 63
FSXAX Martin Ratio Rank: 69

FRQKX

FRQKX Risk / Return Rank: 69
FRQKX Sharpe Ratio Rank: 70
FRQKX Sortino Ratio Rank: 73
FRQKX Omega Ratio Rank: 76
FRQKX Calmar Ratio Rank: 60
FRQKX Martin Ratio Rank: 65

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.

FSXAX vs. FRQKX - Risk-Adjusted Trends Comparison

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

	FSXAX	FRQKX	Difference
Sharpe ratio: Return per unit of total volatility	2.12	2.23	-0.11
Sortino ratio: Return per unit of downside risk	3.00	3.23	-0.23
Omega ratio: Gain probability vs. loss probability	1.40	1.45	-0.05
Calmar ratio: Return relative to maximum drawdown	2.91	2.84	+0.07
Martin ratio: Return relative to average drawdown	12.36	11.89	+0.46

FSXAX vs. FRQKX - Sharpe Ratio Comparison

The current FSXAX Sharpe Ratio is 2.12, which is comparable to the FRQKX Sharpe Ratio of 2.23. The chart below compares the historical Sharpe Ratios of FSXAX and FRQKX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FSXAX vs. FRQKX - Drawdown Comparison

The maximum FSXAX drawdown since its inception was -10.04%, smaller than the maximum FRQKX drawdown of -16.97%. Use the drawdown chart below to compare losses from any high point for FSXAX and FRQKX.

Drawdown Indicators

	FSXAX	FRQKX	Difference
Max Drawdown Largest peak-to-trough decline	-10.04%	-16.97%	+6.93%
Max Drawdown (1Y) Largest decline over 1 year	-6.87%	-3.42%	-3.45%
Max Drawdown (3Y) Largest decline over 3 years	-10.04%	-5.17%	-4.87%
Max Drawdown (5Y) Largest decline over 5 years	—	-16.97%	—
Current Drawdown Current decline from peak	0.00%	-0.42%	+0.42%
Average Drawdown Average peak-to-trough decline	-1.47%	-3.84%	+2.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.62%	0.82%	+0.80%

Volatility

FSXAX vs. FRQKX - Volatility Comparison

Fidelity Sustainable Target Date 2030 Fund (FSXAX) has a higher volatility of 4.03% compared to Fidelity Managed Retirement 2010 Fund Class K (FRQKX) at 2.02%. This indicates that FSXAX's price experiences larger fluctuations and is considered to be riskier than FRQKX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSXAX	FRQKX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.03%	2.02%	+2.01%
Volatility (6M) Calculated over the trailing 6-month period	8.04%	3.71%	+4.33%
Volatility (1Y) Calculated over the trailing 1-year period	9.42%	4.37%	+5.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.83%	5.60%	+4.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.83%	5.78%	+4.05%

FSXAX vs. FRQKX - Expense Ratio Comparison

FSXAX has a 0.46% expense ratio, which is higher than FRQKX's 0.36% expense ratio.

Dividends

FSXAX vs. FRQKX - Dividend Comparison

FSXAX's dividend yield for the trailing twelve months is around 2.14%, less than FRQKX's 3.42% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
FRQKX Fidelity Managed Retirement 2010 Fund Class K	3.42%	3.09%	2.91%	2.86%	5.12%	6.11%	3.61%	2.57%
FSXAX Fidelity Sustainable Target Date 2030 Fund	2.14%	2.21%	3.97%	1.49%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FSXAX and FRQKX in my portfolio?

With a correlation of 0.90, FSXAX and FRQKX 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.

Which is riskier, FSXAX or FRQKX?

FSXAX has higher volatility (4.03%) compared to FRQKX (2.02%). In terms of maximum drawdown, FSXAX dropped -10.04% vs FRQKX's -16.97%.

Which has better risk-adjusted returns?

FRQKX currently has the higher Sharpe Ratio (2.23 vs 2.12), 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.