LIPIX vs. FRHMX

Last updated Jun 24, 2026

LIPIX (BlackRock LifePath Index 2050 Fund Institutional) and FRHMX (Fidelity Managed Retirement Income Fund Class K6) are both Target Retirement Date funds from BlackRock. Over the past 5 years, LIPIX returned 10.36%/yr vs 596.10%/yr for FRHMX. A 0.71 correlation means they provide meaningful diversification when combined. LIPIX charges 0.14%/yr vs 0.25%/yr for FRHMX.

Performance

LIPIX vs. FRHMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock LifePath Index 2050 Fund Institutional (LIPIX) 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, LIPIX achieves a 11.87% return, which is significantly lower than FRHMX's 1,464,383.96% return.

LIPIX

• 1D: -0.07%
• 1M: 1.66%
• YTD: 11.87%
• 6M: 11.15%
• 1Y: 26.79%
• 3Y*: 19.65%
• 5Y*: 10.36%
• 10Y*: 12.32%

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)

LIPIX vs. FRHMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
LIPIX BlackRock LifePath Index 2050 Fund Institutional	11.87%	20.70%	15.61%	21.25%	-18.33%	18.68%	14.23%	8.80%
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 LIPIX and FRHMX is 0.84, 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	0.84
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.72
Correlation (All Time) Calculated using the full available price history since Aug 1, 2019	0.71

The correlation between LIPIX and FRHMX shifts across timeframes, from 0.71 (all time) to 0.84 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

LIPIX vs. FRHMX — Risk / Return Rank

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

LIPIX

LIPIX Risk / Return Rank: 68
LIPIX Sharpe Ratio Rank: 67
LIPIX Sortino Ratio Rank: 64
LIPIX Omega Ratio Rank: 64
LIPIX Calmar Ratio Rank: 70
LIPIX Martin Ratio Rank: 76

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.

LIPIX vs. FRHMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock LifePath Index 2050 Fund Institutional (LIPIX) 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.

	LIPIX	FRHMX	Difference
Sharpe ratio: Return per unit of total volatility	2.21	1.14	+1.07
Sortino ratio: Return per unit of downside risk	3.05	488,367.03	-488,363.98
Omega ratio: Gain probability vs. loss probability	1.40	68,097.73	-68,096.33
Calmar ratio: Return relative to maximum drawdown	3.09	470,348.34	-470,345.25
Martin ratio: Return relative to average drawdown	13.36	1,985,653.35	-1,985,639.99

LIPIX vs. FRHMX - Sharpe Ratio Comparison

The current LIPIX Sharpe Ratio is 2.21, which is higher than the FRHMX Sharpe Ratio of 1.14. The chart below compares the historical Sharpe Ratios of LIPIX 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

LIPIX vs. FRHMX - Drawdown Comparison

The maximum LIPIX drawdown since its inception was -34.29%, which is greater than FRHMX's maximum drawdown of -15.96%. Use the drawdown chart below to compare losses from any high point for LIPIX and FRHMX.

Drawdown Indicators

	LIPIX	FRHMX	Difference
Max Drawdown Largest peak-to-trough decline	-34.29%	-15.96%	-18.33%
Max Drawdown (1Y) Largest decline over 1 year	-9.09%	-3.42%	-5.67%
Max Drawdown (3Y) Largest decline over 3 years	-15.98%	-4.90%	-11.08%
Max Drawdown (5Y) Largest decline over 5 years	-26.39%	-15.96%	-10.43%
Max Drawdown (10Y) Largest decline over 10 years	-34.29%	—	—
Current Drawdown Current decline from peak	-0.52%	0.00%	-0.52%
Average Drawdown Average peak-to-trough decline	-4.46%	-3.49%	-0.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.10%	0.81%	+1.29%

Volatility

LIPIX vs. FRHMX - Volatility Comparison

The current volatility for BlackRock LifePath Index 2050 Fund Institutional (LIPIX) is 4.85%, while Fidelity Managed Retirement Income Fund Class K6 (FRHMX) has a volatility of 955.41%. This indicates that LIPIX 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

	LIPIX	FRHMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.85%	955.41%	-950.56%
Volatility (6M) Calculated over the trailing 6-month period	10.52%	955.40%	-944.88%
Volatility (1Y) Calculated over the trailing 1-year period	12.70%	1,413,171.78%	-1,413,159.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.60%	631,989.64%	-631,974.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.55%	538,904.02%	-538,887.47%

LIPIX vs. FRHMX - Expense Ratio Comparison

LIPIX has a 0.14% 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

LIPIX vs. FRHMX - Dividend Comparison

LIPIX's dividend yield for the trailing twelve months is around 2.48%, 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%
LIPIX BlackRock LifePath Index 2050 Fund Institutional	2.48%	2.77%	2.45%	2.10%	2.03%	2.15%	1.08%	3.29%	2.37%	2.31%	1.57%	3.12%

Frequently Asked Questions

Can I hold both LIPIX and FRHMX in my portfolio?

LIPIX and FRHMX have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LIPIX or FRHMX?

FRHMX has higher volatility (955.41%) compared to LIPIX (4.85%). In terms of maximum drawdown, LIPIX dropped -34.29% vs FRHMX's -15.96%.

Which has better risk-adjusted returns?

LIPIX currently has the higher Sharpe Ratio (2.21 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.