LIRIX vs. FIRMX
LIRIX (BlackRock LifePath Index Retirement Fund) and FIRMX (Fidelity Managed Retirement Income Fund) are both Target Retirement Date funds from BlackRock. Over the past 10 years, LIRIX returned 6.03%/yr vs 4.21%/yr for FIRMX. Their correlation of 0.91 suggests significant overlap in exposure. LIRIX charges 0.11%/yr vs 0.45%/yr for FIRMX.
Performance
LIRIX vs. FIRMX - Performance Comparison
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Returns By Period
In the year-to-date period, LIRIX achieves a 5.30% return, which is significantly higher than FIRMX's 3.60% return. Over the past 10 years, LIRIX has outperformed FIRMX with an annualized return of 6.03%, while FIRMX has yielded a comparatively lower 4.21% 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%
FIRMX
- 1D
- 0.00%
- 1M
- 0.65%
- YTD
- 3.60%
- 6M
- 3.59%
- 1Y
- 9.08%
- 3Y*
- 7.18%
- 5Y*
- 2.79%
- 10Y*
- 4.21%
LIRIX vs. FIRMX - 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% |
FIRMX Fidelity Managed Retirement Income Fund | 3.60% | 9.95% | 4.29% | 8.07% | -11.66% | 2.77% | 8.57% | 10.57% | -1.80% | 7.08% |
Correlation
The correlation between LIRIX and FIRMX is 0.94, 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 | 0.94 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.92 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.92 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since May 31, 2011 | 0.91 |
The correlation between LIRIX and FIRMX has been stable across timeframes, ranging from 0.90 to 0.94 - a consistent structural relationship.
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Return for Risk
LIRIX vs. FIRMX — Risk / Return Rank
LIRIX
FIRMX
LIRIX vs. FIRMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock LifePath Index Retirement Fund (LIRIX) 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.
| LIRIX | FIRMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.09 | ||
| Sortino ratioReturn per unit of downside risk | +0.10 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.44 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 3.21 | 2.77 | +0.44 |
| Martin ratioReturn relative to average drawdown | 13.95 | 11.63 | +2.32 |
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Drawdowns
LIRIX vs. FIRMX - Drawdown Comparison
The maximum LIRIX drawdown since its inception was -20.49%, smaller than the maximum FIRMX drawdown of -33.73%. Use the drawdown chart below to compare losses from any high point for LIRIX and FIRMX.
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Drawdown Indicators
| LIRIX | FIRMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.49% | -33.73% | +13.24% |
Max Drawdown (1Y)Largest decline over 1 year | -4.23% | -3.44% | -0.79% |
Max Drawdown (3Y)Largest decline over 3 years | -7.56% | -4.96% | -2.60% |
Max Drawdown (5Y)Largest decline over 5 years | -20.49% | -16.11% | -4.38% |
Max Drawdown (10Y)Largest decline over 10 years | -20.49% | -16.11% | -4.38% |
Current DrawdownCurrent decline from peak | -0.51% | -0.42% | -0.09% |
Average DrawdownAverage peak-to-trough decline | -2.85% | -3.70% | +0.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.97% | 0.82% | +0.15% |
Volatility
LIRIX vs. FIRMX - Volatility Comparison
BlackRock LifePath Index Retirement Fund (LIRIX) has a higher volatility of 2.40% compared to Fidelity Managed Retirement Income Fund (FIRMX) at 2.02%. This indicates that LIRIX's price experiences larger fluctuations and is considered to be riskier than FIRMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LIRIX | FIRMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.40% | 2.02% | +0.38% |
Volatility (6M)Calculated over the trailing 6-month period | 4.99% | 3.70% | +1.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.95% | 4.36% | +1.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.88% | 5.32% | +2.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.53% | 4.54% | +2.99% |
LIRIX vs. FIRMX - Expense Ratio Comparison
LIRIX has a 0.11% expense ratio, which is lower than FIRMX's 0.45% expense ratio.
Dividends
LIRIX vs. FIRMX - Dividend Comparison
LIRIX's dividend yield for the trailing twelve months is around 3.64%, more than FIRMX's 3.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FIRMX Fidelity Managed Retirement Income Fund | 3.25% | 3.13% | 3.02% | 2.81% | 4.54% | 3.56% | 2.48% | 2.59% | 4.65% | 8.57% | 1.67% | 1.68% |
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 0.94, LIRIX and FIRMX 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.
LIRIX has higher volatility (2.40%) compared to FIRMX (2.02%). In terms of maximum drawdown, LIRIX dropped -20.49% vs FIRMX's -33.73%.
LIRIX currently has the higher Sharpe Ratio (2.28 vs 2.19), 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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