LEKIX vs. FIRMX

Last updated Jul 17, 2026

LEKIX (BlackRock LifePath ESG Index 2040 Fund) and FIRMX (Fidelity Managed Retirement Income Fund) are both Target Retirement Date funds from BlackRock. A 0.76 correlation means they provide meaningful diversification when combined. LEKIX charges 0.06%/yr vs 0.45%/yr for FIRMX.

Performance

LEKIX vs. FIRMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock LifePath ESG Index 2040 Fund (LEKIX) and Fidelity Managed Retirement Income Fund (FIRMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

LEKIX

• 1D: 0.31%
• 1M: 0.06%
• 6M: 7.22%
• YTD: 9.56%
• 1Y: 18.79%
• 3Y*: 13.36%
• 5Y*: 7.28%
• 10Y*: —

FIRMX

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

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

LEKIX vs. FIRMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
LEKIX BlackRock LifePath ESG Index 2040 Fund	9.56%	17.47%	7.45%	18.96%	-17.72%	16.89%	12.05%
FIRMX Fidelity Managed Retirement Income Fund	3.60%	9.95%	4.29%	8.07%	-11.66%	2.77%	4.09%

Correlation

The correlation between LEKIX and FIRMX is 0.83, 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	0.83
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (5Y) Calculated over the trailing 5-year period	0.75
Correlation (All Time) Calculated using the full available price history since Aug 18, 2020	0.76

The correlation between LEKIX and FIRMX has been stable across timeframes, ranging from 0.75 to 0.83 - a consistent structural relationship.

Return for Risk

LEKIX vs. FIRMX — Risk / Return Rank

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

LEKIX

LEKIX Risk / Return Rank: 67
LEKIX Sharpe Ratio Rank: 67
LEKIX Sortino Ratio Rank: 65
LEKIX Omega Ratio Rank: 64
LEKIX Calmar Ratio Rank: 65
LEKIX Martin Ratio Rank: 73

FIRMX

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.

LEKIX vs. FIRMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock LifePath ESG Index 2040 Fund (LEKIX) and Fidelity Managed Retirement Income Fund (FIRMX). 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.

	LEKIX	FIRMX	Difference
Sharpe ratio: Return per unit of total volatility	1.85	—	—
Sortino ratio: Return per unit of downside risk	2.59	—	—
Omega ratio: Gain probability vs. loss probability	1.34	—	—
Calmar ratio: Return relative to maximum drawdown	2.53	—	—
Martin ratio: Return relative to average drawdown	10.83	—	—

Drawdowns

Drawdown Indicators

	LEKIX	FIRMX	Difference
Max Drawdown Largest peak-to-trough decline	-25.28%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-7.64%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-16.24%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-25.28%	—	—
Current Drawdown Current decline from peak	-0.37%	—	—
Average Drawdown Average peak-to-trough decline	-5.56%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	1.78%	—	—

Volatility

Volatility by Period

	LEKIX	FIRMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.05%	—	—
Volatility (6M) Calculated over the trailing 6-month period	8.79%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	10.44%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.38%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.22%	—	—

LEKIX vs. FIRMX - Expense Ratio Comparison

LEKIX has a 0.06% expense ratio, which is lower than FIRMX's 0.45% expense ratio.

Dividends

LEKIX vs. FIRMX - Dividend Comparison

LEKIX's dividend yield for the trailing twelve months is around 1.75%, less than FIRMX's 3.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIRMX Fidelity Managed Retirement Income Fund	3.12%	3.13%	3.02%	2.81%	4.54%	3.56%	2.48%	2.59%	4.65%	8.57%	1.67%	1.68%
LEKIX BlackRock LifePath ESG Index 2040 Fund	1.75%	1.92%	0.00%	2.22%	2.08%	2.85%	0.84%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both LEKIX and FIRMX in my portfolio?

LEKIX and FIRMX have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.