LFEDX vs. FIRVX

Last updated Jul 17, 2026

LFEDX (MFS Lifetime 2035 Fund) and FIRVX (Fidelity Managed Retirement 2020 Fund) are both Target Retirement Date funds. Their correlation of 0.93 suggests significant overlap in exposure. LFEDX charges 0.00%/yr vs 0.47%/yr for FIRVX.

Performance

LFEDX vs. FIRVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MFS Lifetime 2035 Fund (LFEDX) and Fidelity Managed Retirement 2020 Fund (FIRVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

LFEDX

• 1D: 0.20%
• 1M: 0.31%
• 6M: 4.92%
• YTD: 7.28%
• 1Y: 13.22%
• 3Y*: 11.98%
• 5Y*: 6.72%
• 10Y*: 9.43%

FIRVX

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

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

LFEDX vs. FIRVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LFEDX MFS Lifetime 2035 Fund	7.28%	13.17%	10.54%	14.88%	-14.86%	17.24%	12.82%	25.16%	-7.02%	19.50%
FIRVX Fidelity Managed Retirement 2020 Fund	1,440,933.92%	12.25%	5.86%	10.72%	-14.63%	6.77%	12.06%	16.19%	-4.45%	13.32%

Correlation

The correlation between LFEDX and FIRVX 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 (5Y) Calculated over the trailing 5-year period	0.89
Correlation (10Y) Calculated over the trailing 10-year period	0.92
Correlation (All Time) Calculated using the full available price history since Jan 2, 2013	0.93

The correlation between LFEDX and FIRVX has been stable across timeframes, ranging from 0.88 to 0.93 - a consistent structural relationship.

Return for Risk

LFEDX vs. FIRVX — Risk / Return Rank

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

LFEDX

LFEDX Risk / Return Rank: 59
LFEDX Sharpe Ratio Rank: 61
LFEDX Sortino Ratio Rank: 63
LFEDX Omega Ratio Rank: 60
LFEDX Calmar Ratio Rank: 51
LFEDX Martin Ratio Rank: 60

FIRVX

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.

LFEDX vs. FIRVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MFS Lifetime 2035 Fund (LFEDX) and Fidelity Managed Retirement 2020 Fund (FIRVX). 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.

	LFEDX	FIRVX	Difference
Sharpe ratio: Return per unit of total volatility	1.81	—	—
Sortino ratio: Return per unit of downside risk	2.61	—	—
Omega ratio: Gain probability vs. loss probability	1.33	—	—
Calmar ratio: Return relative to maximum drawdown	2.31	—	—
Martin ratio: Return relative to average drawdown	9.74	—	—

Drawdowns

Drawdown Indicators

	LFEDX	FIRVX	Difference
Max Drawdown Largest peak-to-trough decline	-30.30%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-5.88%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-9.79%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-21.31%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-30.30%	—	—
Current Drawdown Current decline from peak	-0.20%	—	—
Average Drawdown Average peak-to-trough decline	-3.57%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	1.39%	—	—

Volatility

Volatility by Period

	LFEDX	FIRVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.95%	—	—
Volatility (6M) Calculated over the trailing 6-month period	6.10%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	7.55%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.90%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.47%	—	—

LFEDX vs. FIRVX - Expense Ratio Comparison

LFEDX has a 0.00% expense ratio, which is lower than FIRVX's 0.47% expense ratio.

Dividends

LFEDX vs. FIRVX - Dividend Comparison

LFEDX's dividend yield for the trailing twelve months is around 7.45%, less than FIRVX's 102.77% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIRVX Fidelity Managed Retirement 2020 Fund	102.77%	2.83%	2.74%	2.57%	3.52%	4.61%	3.74%	3.18%	6.90%	25.16%	2.28%	4.45%
LFEDX MFS Lifetime 2035 Fund	7.45%	7.99%	5.52%	2.93%	6.62%	7.94%	2.69%	3.96%	4.38%	3.44%	3.83%	1.57%

Frequently Asked Questions

Can I hold both LFEDX and FIRVX in my portfolio?

LFEDX and FIRVX have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.