JLKOX vs. FRAMX

Last updated Jun 26, 2026

JLKOX (John Hancock Funds Multimanager 2050 Lifetime Portfolio) and FRAMX (Fidelity Advisor Managed Retirement Income Fund Class A) are both Target Retirement Date funds. Over the past 10 years, JLKOX returned 10.95%/yr vs 173.61%/yr for FRAMX. A 0.80 correlation means they provide meaningful diversification when combined. JLKOX charges 0.05%/yr vs 0.70%/yr for FRAMX.

Performance

JLKOX vs. FRAMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in John Hancock Funds Multimanager 2050 Lifetime Portfolio (JLKOX) and Fidelity Advisor Managed Retirement Income Fund Class A (FRAMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JLKOX achieves a 10.98% return, which is significantly lower than FRAMX's 1,644,791.35% return. Over the past 10 years, JLKOX has underperformed FRAMX with an annualized return of 10.95%, while FRAMX has yielded a comparatively higher 173.61% annualized return.

JLKOX

• 1D: 0.13%
• 1M: -0.79%
• YTD: 10.98%
• 6M: 4.33%
• 1Y: 16.98%
• 3Y*: 16.18%
• 5Y*: 7.04%
• 10Y*: 10.95%

FRAMX

• 1D: 0.00%
• 1M: 1,591,079.25%
• YTD: 1,644,791.35%
• 6M: 1,641,761.62%
• 1Y: 1,721,561.50%
• 3Y*: 2,590.99%
• 5Y*: 609.20%
• 10Y*: 173.61%

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

JLKOX vs. FRAMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
JLKOX John Hancock Funds Multimanager 2050 Lifetime Portfolio	10.98%	12.30%	15.50%	18.67%	-19.67%	15.80%	20.38%	24.75%	-8.96%	18.37%
FRAMX Fidelity Advisor Managed Retirement Income Fund Class A	1,644,791.35%	9.55%	4.04%	7.80%	-11.87%	2.52%	8.30%	10.28%	-2.05%	6.82%

Correlation

The correlation between JLKOX and FRAMX is 0.75, 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	0.75
Correlation (3Y) Calculated over the trailing 3-year period	0.68
Correlation (5Y) Calculated over the trailing 5-year period	0.68
Correlation (10Y) Calculated over the trailing 10-year period	0.71
Correlation (All Time) Calculated using the full available price history since Apr 28, 2011	0.80

The correlation between JLKOX and FRAMX shifts across timeframes, from 0.68 (5 years) to 0.80 (all time), reflecting how their relationship changes across market environments.

Return for Risk

JLKOX vs. FRAMX — Risk / Return Rank

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

JLKOX

JLKOX Risk / Return Rank: 30
JLKOX Sharpe Ratio Rank: 28
JLKOX Sortino Ratio Rank: 24
JLKOX Omega Ratio Rank: 31
JLKOX Calmar Ratio Rank: 33
JLKOX Martin Ratio Rank: 35

FRAMX

FRAMX Risk / Return Rank: 85
FRAMX Sharpe Ratio Rank: 23
FRAMX Sortino Ratio Rank: 100
FRAMX Omega Ratio Rank: 100
FRAMX Calmar Ratio Rank: 100
FRAMX 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.

JLKOX vs. FRAMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for John Hancock Funds Multimanager 2050 Lifetime Portfolio (JLKOX) and Fidelity Advisor Managed Retirement Income Fund Class A (FRAMX). 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.

	JLKOX	FRAMX	Difference
Sharpe ratio: Return per unit of total volatility	1.24	1.13	+0.11
Sortino ratio: Return per unit of downside risk	1.69	548,105.64	-548,103.95
Omega ratio: Gain probability vs. loss probability	1.24	76,384.43	-76,383.19
Calmar ratio: Return relative to maximum drawdown	1.81	519,686.03	-519,684.22
Martin ratio: Return relative to average drawdown	6.65	2,170,108.28	-2,170,101.63

JLKOX vs. FRAMX - Sharpe Ratio Comparison

The current JLKOX Sharpe Ratio is 1.24, which is comparable to the FRAMX Sharpe Ratio of 1.13. The chart below compares the historical Sharpe Ratios of JLKOX and FRAMX, 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

JLKOX vs. FRAMX - Drawdown Comparison

The maximum JLKOX drawdown since its inception was -32.04%, smaller than the maximum FRAMX drawdown of -33.94%. Use the drawdown chart below to compare losses from any high point for JLKOX and FRAMX.

Drawdown Indicators

	JLKOX	FRAMX	Difference
Max Drawdown Largest peak-to-trough decline	-32.04%	-33.94%	+1.90%
Max Drawdown (1Y) Largest decline over 1 year	-10.45%	-3.45%	-7.00%
Max Drawdown (3Y) Largest decline over 3 years	-16.96%	-5.02%	-11.94%
Max Drawdown (5Y) Largest decline over 5 years	-28.08%	-16.31%	-11.77%
Max Drawdown (10Y) Largest decline over 10 years	-32.04%	-16.31%	-15.73%
Current Drawdown Current decline from peak	-2.19%	0.00%	-2.19%
Average Drawdown Average peak-to-trough decline	-5.20%	-3.82%	-1.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.70%	0.82%	+1.88%

Volatility

JLKOX vs. FRAMX - Volatility Comparison

The current volatility for John Hancock Funds Multimanager 2050 Lifetime Portfolio (JLKOX) is 6.05%, while Fidelity Advisor Managed Retirement Income Fund Class A (FRAMX) has a volatility of 967.34%. This indicates that JLKOX experiences smaller price fluctuations and is considered to be less risky than FRAMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JLKOX	FRAMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.05%	967.34%	-961.29%
Volatility (6M) Calculated over the trailing 6-month period	12.88%	967.35%	-954.47%
Volatility (1Y) Calculated over the trailing 1-year period	15.28%	1,589,373.65%	-1,589,358.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.44%	712,487.94%	-712,471.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.54%	503,403.77%	-503,387.23%

JLKOX vs. FRAMX - Expense Ratio Comparison

JLKOX has a 0.05% expense ratio, which is lower than FRAMX's 0.70% expense ratio.

Dividends

JLKOX vs. FRAMX - Dividend Comparison

JLKOX's dividend yield for the trailing twelve months is around 1.70%, less than FRAMX's 102.97% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FRAMX Fidelity Advisor Managed Retirement Income Fund Class A	102.97%	2.77%	2.77%	2.58%	4.26%	3.31%	2.23%	2.37%	4.40%	8.26%	1.42%	1.42%
JLKOX John Hancock Funds Multimanager 2050 Lifetime Portfolio	1.70%	1.89%	3.22%	3.22%	18.51%	9.85%	4.79%	9.55%	12.92%	4.02%	6.43%	5.53%

Frequently Asked Questions

Can I hold both JLKOX and FRAMX in my portfolio?

JLKOX and FRAMX have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JLKOX or FRAMX?

FRAMX has higher volatility (967.34%) compared to JLKOX (6.05%). In terms of maximum drawdown, JLKOX dropped -32.04% vs FRAMX's -33.94%.

Which has better risk-adjusted returns?

JLKOX currently has the higher Sharpe Ratio (1.24 vs 1.13), 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.