ISEIX vs. FRHMX

Last updated Jun 24, 2026

ISEIX (Voya Index Solution 2035 Portfolio) and FRHMX (Fidelity Managed Retirement Income Fund Class K6) are both Target Retirement Date funds. Over the past 5 years, ISEIX returned 7.69%/yr vs 596.10%/yr for FRHMX. A 0.73 correlation means they provide meaningful diversification when combined. ISEIX charges 0.20%/yr vs 0.25%/yr for FRHMX.

Performance

ISEIX vs. FRHMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Voya Index Solution 2035 Portfolio (ISEIX) and Fidelity Managed Retirement Income Fund Class K6 (FRHMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ISEIX achieves a 8.75% return, which is significantly lower than FRHMX's 1,464,383.96% return.

ISEIX

• 1D: -0.13%
• 1M: 1.34%
• YTD: 8.75%
• 6M: 8.20%
• 1Y: 20.66%
• 3Y*: 15.57%
• 5Y*: 7.69%
• 10Y*: 10.21%

FRHMX

• 1D: 1,410,365.12%
• 1M: 1,421,616.96%
• YTD: 1,464,383.96%
• 6M: 1,464,432.61%
• 1Y: 1,543,480.72%
• 3Y*: 2,494.75%
• 5Y*: 596.10%
• 10Y*: —

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

ISEIX vs. FRHMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
ISEIX Voya Index Solution 2035 Portfolio	8.75%	17.22%	12.10%	17.23%	-17.65%	14.21%	14.44%	7.12%
FRHMX Fidelity Managed Retirement Income Fund Class K6	1,464,383.96%	10.02%	4.50%	8.28%	-11.48%	2.98%	8.79%	3.17%

Correlation

The correlation between ISEIX and FRHMX is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.77
Correlation (3Y) Calculated over the trailing 3-year period	0.76
Correlation (5Y) Calculated over the trailing 5-year period	0.74
Correlation (All Time) Calculated using the full available price history since Aug 1, 2019	0.73

The correlation between ISEIX and FRHMX has been stable across timeframes, ranging from 0.73 to 0.77 - a consistent structural relationship.

Return for Risk

ISEIX vs. FRHMX — Risk / Return Rank

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

ISEIX

ISEIX Risk / Return Rank: 78
ISEIX Sharpe Ratio Rank: 78
ISEIX Sortino Ratio Rank: 80
ISEIX Omega Ratio Rank: 74
ISEIX Calmar Ratio Rank: 74
ISEIX Martin Ratio Rank: 84

FRHMX

FRHMX Risk / Return Rank: 84
FRHMX Sharpe Ratio Rank: 18
FRHMX Sortino Ratio Rank: 100
FRHMX Omega Ratio Rank: 100
FRHMX Calmar Ratio Rank: 100
FRHMX Martin Ratio Rank: 100

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.

ISEIX vs. FRHMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Voya Index Solution 2035 Portfolio (ISEIX) and Fidelity Managed Retirement Income Fund Class K6 (FRHMX). 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.

	ISEIX	FRHMX	Difference
Sharpe ratio: Return per unit of total volatility	2.37	1.14	+1.23
Sortino ratio: Return per unit of downside risk	3.48	488,367.03	-488,363.55
Omega ratio: Gain probability vs. loss probability	1.44	68,097.73	-68,096.29
Calmar ratio: Return relative to maximum drawdown	3.20	470,348.34	-470,345.14
Martin ratio: Return relative to average drawdown	14.75	1,985,653.35	-1,985,638.60

ISEIX vs. FRHMX - Sharpe Ratio Comparison

The current ISEIX Sharpe Ratio is 2.37, which is higher than the FRHMX Sharpe Ratio of 1.14. The chart below compares the historical Sharpe Ratios of ISEIX and FRHMX, 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

ISEIX vs. FRHMX - Drawdown Comparison

The maximum ISEIX drawdown since its inception was -47.61%, which is greater than FRHMX's maximum drawdown of -15.96%. Use the drawdown chart below to compare losses from any high point for ISEIX and FRHMX.

Drawdown Indicators

	ISEIX	FRHMX	Difference
Max Drawdown Largest peak-to-trough decline	-47.61%	-15.96%	-31.65%
Max Drawdown (1Y) Largest decline over 1 year	-7.36%	-3.42%	-3.94%
Max Drawdown (3Y) Largest decline over 3 years	-11.93%	-4.90%	-7.03%
Max Drawdown (5Y) Largest decline over 5 years	-24.41%	-15.96%	-8.45%
Max Drawdown (10Y) Largest decline over 10 years	-28.23%	—	—
Current Drawdown Current decline from peak	-0.33%	0.00%	-0.33%
Average Drawdown Average peak-to-trough decline	-6.55%	-3.49%	-3.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.54%	0.81%	+0.73%

Volatility

ISEIX vs. FRHMX - Volatility Comparison

The current volatility for Voya Index Solution 2035 Portfolio (ISEIX) is 3.52%, while Fidelity Managed Retirement Income Fund Class K6 (FRHMX) has a volatility of 955.41%. This indicates that ISEIX experiences smaller price fluctuations and is considered to be less risky than FRHMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ISEIX	FRHMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.52%	955.41%	-951.89%
Volatility (6M) Calculated over the trailing 6-month period	8.07%	955.40%	-947.33%
Volatility (1Y) Calculated over the trailing 1-year period	9.94%	1,413,171.78%	-1,413,161.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.38%	631,989.64%	-631,977.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.46%	538,904.02%	-538,890.56%

ISEIX vs. FRHMX - Expense Ratio Comparison

ISEIX has a 0.20% expense ratio, which is lower than FRHMX's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

ISEIX vs. FRHMX - Dividend Comparison

ISEIX's dividend yield for the trailing twelve months is around 2.21%, less than FRHMX's 103.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FRHMX Fidelity Managed Retirement Income Fund Class K6	103.07%	3.22%	3.24%	3.02%	4.77%	3.78%	2.61%	1.95%	0.00%	0.00%	0.00%	0.00%
ISEIX Voya Index Solution 2035 Portfolio	2.21%	2.40%	1.05%	8.17%	13.88%	6.18%	4.93%	5.45%	4.55%	3.93%	11.53%	13.34%

Frequently Asked Questions

Can I hold both ISEIX and FRHMX in my portfolio?

ISEIX and FRHMX have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ISEIX or FRHMX?

FRHMX has higher volatility (955.41%) compared to ISEIX (3.52%). In terms of maximum drawdown, ISEIX dropped -47.61% vs FRHMX's -15.96%.

Which has better risk-adjusted returns?

ISEIX currently has the higher Sharpe Ratio (2.37 vs 1.14), 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.