LIRIX vs. FFANX
LIRIX (BlackRock LifePath Index Retirement Fund) and FFANX (Fidelity Asset Manager 40% Fund) are both mutual funds - LIRIX is a Target Retirement Date fund managed by BlackRock, while FFANX is a Diversified Portfolio fund managed by BlackRock. Over the past 10 years, LIRIX returned 6.03%/yr vs 6.99%/yr for FFANX. With a 0.95 correlation, they move nearly in lockstep. LIRIX charges 0.11%/yr vs 0.52%/yr for FFANX.
Performance
LIRIX vs. FFANX - Performance Comparison
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Returns By Period
In the year-to-date period, LIRIX achieves a 5.30% return, which is significantly lower than FFANX's 7.45% return. Over the past 10 years, LIRIX has underperformed FFANX with an annualized return of 6.03%, while FFANX has yielded a comparatively higher 6.99% annualized return.
LIRIX
- 1D
- -0.19%
- 1M
- 0.71%
- YTD
- 5.30%
- 6M
- 5.08%
- 1Y
- 13.03%
- 3Y*
- 9.82%
- 5Y*
- 3.98%
- 10Y*
- 6.03%
FFANX
- 1D
- -0.13%
- 1M
- 1.41%
- YTD
- 7.45%
- 6M
- 7.31%
- 1Y
- 16.42%
- 3Y*
- 11.28%
- 5Y*
- 5.36%
- 10Y*
- 6.99%
LIRIX vs. FFANX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
LIRIX BlackRock LifePath Index Retirement Fund | 5.30% | 12.41% | 6.04% | 11.50% | -15.31% | 6.69% | 11.40% | 15.84% | -3.54% | 10.68% |
FFANX Fidelity Asset Manager 40% Fund | 7.45% | 13.16% | 7.40% | 11.52% | -13.62% | 8.03% | 13.10% | 15.81% | -4.06% | 11.25% |
Correlation
The correlation between LIRIX and FFANX is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.96 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.95 |
Correlation (All Time) Calculated using the full available price history since May 31, 2011 | 0.95 |
The correlation between LIRIX and FFANX has been stable across timeframes, ranging from 0.95 to 0.96 - a consistent structural relationship.
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Return for Risk
LIRIX vs. FFANX — Risk / Return Rank
LIRIX
FFANX
LIRIX vs. FFANX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock LifePath Index Retirement Fund (LIRIX) and Fidelity Asset Manager 40% Fund (FFANX). 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.
| LIRIX | FFANX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.12 | ||
| Sortino ratioReturn per unit of downside risk | -0.17 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.47 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 3.21 | 3.27 | -0.06 |
| Martin ratioReturn relative to average drawdown | 13.95 | 13.95 | 0.00 |
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Drawdowns
LIRIX vs. FFANX - Drawdown Comparison
The maximum LIRIX drawdown since its inception was -20.49%, smaller than the maximum FFANX drawdown of -31.69%. Use the drawdown chart below to compare losses from any high point for LIRIX and FFANX.
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Drawdown Indicators
| LIRIX | FFANX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.49% | -31.69% | +11.20% |
Max Drawdown (1Y)Largest decline over 1 year | -4.23% | -5.20% | +0.97% |
Max Drawdown (3Y)Largest decline over 3 years | -7.56% | -7.55% | -0.01% |
Max Drawdown (5Y)Largest decline over 5 years | -20.49% | -18.52% | -1.97% |
Max Drawdown (10Y)Largest decline over 10 years | -20.49% | -18.52% | -1.97% |
Current DrawdownCurrent decline from peak | -0.51% | -0.13% | -0.38% |
Average DrawdownAverage peak-to-trough decline | -2.85% | -3.79% | +0.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.97% | 1.22% | -0.25% |
Volatility
LIRIX vs. FFANX - Volatility Comparison
The current volatility for BlackRock LifePath Index Retirement Fund (LIRIX) is 2.40%, while Fidelity Asset Manager 40% Fund (FFANX) has a volatility of 2.94%. This indicates that LIRIX experiences smaller price fluctuations and is considered to be less risky than FFANX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LIRIX | FFANX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.40% | 2.94% | -0.54% |
Volatility (6M)Calculated over the trailing 6-month period | 4.99% | 6.01% | -1.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.95% | 7.09% | -1.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.88% | 7.94% | -0.06% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.53% | 7.74% | -0.21% |
LIRIX vs. FFANX - Expense Ratio Comparison
LIRIX has a 0.11% expense ratio, which is lower than FFANX's 0.52% expense ratio.
Dividends
LIRIX vs. FFANX - Dividend Comparison
LIRIX's dividend yield for the trailing twelve months is around 3.64%, which matches FFANX's 3.65% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FFANX Fidelity Asset Manager 40% Fund | 3.65% | 3.97% | 2.81% | 2.49% | 5.75% | 2.35% | 2.36% | 3.67% | 4.56% | 2.56% | 1.43% | 3.18% |
LIRIX BlackRock LifePath Index Retirement Fund | 3.64% | 3.83% | 2.02% | 2.62% | 2.69% | 2.68% | 1.93% | 2.43% | 2.44% | 2.22% | 2.47% | 2.92% |
Frequently Asked Questions
With a correlation of 0.96, LIRIX and FFANX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
FFANX has higher volatility (2.94%) compared to LIRIX (2.40%). In terms of maximum drawdown, LIRIX dropped -20.49% vs FFANX's -31.69%.
FFANX currently has the higher Sharpe Ratio (2.40 vs 2.28), 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.
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