LIZKX vs. FRKMX

Last updated Jun 24, 2026

LIZKX (BlackRock LifePath Index 2060 Fund Class K) and FRKMX (Fidelity Managed Retirement Income Fund Class K) are both Target Retirement Date funds from BlackRock. Over the past 5 years, LIZKX returned 10.44%/yr vs 1016.85%/yr for FRKMX. A 0.71 correlation means they provide meaningful diversification when combined. LIZKX charges 0.09%/yr vs 0.35%/yr for FRKMX.

Performance

LIZKX vs. FRKMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock LifePath Index 2060 Fund Class K (LIZKX) and Fidelity Managed Retirement Income Fund Class K (FRKMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LIZKX achieves a 12.53% return, which is significantly lower than FRKMX's 15,640,638.04% return.

LIZKX

• 1D: -0.10%
• 1M: 1.72%
• YTD: 12.53%
• 6M: 11.72%
• 1Y: 28.38%
• 3Y*: 19.74%
• 5Y*: 10.44%
• 10Y*: —

FRKMX

• 1D: 15,089,900.00%
• 1M: 15,188,508.30%
• YTD: 15,640,638.04%
• 6M: 15,640,103.84%
• 1Y: 16,476,807.18%
• 3Y*: 5,609.31%
• 5Y*: 1,016.85%
• 10Y*: —

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

LIZKX vs. FRKMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
LIZKX BlackRock LifePath Index 2060 Fund Class K	12.53%	21.70%	14.01%	21.67%	-18.33%	18.79%	15.07%	8.86%
FRKMX Fidelity Managed Retirement Income Fund Class K	15,640,638.04%	9.91%	4.40%	8.17%	-11.57%	2.88%	8.68%	3.08%

Correlation

The correlation between LIZKX and FRKMX 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	0.73
Correlation (5Y) Calculated over the trailing 5-year period	0.70
Correlation (All Time) Calculated using the full available price history since Aug 1, 2019	0.71

The correlation between LIZKX and FRKMX shifts across timeframes, from 0.70 (5 years) to 0.83 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

LIZKX vs. FRKMX — Risk / Return Rank

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

LIZKX

LIZKX Risk / Return Rank: 69
LIZKX Sharpe Ratio Rank: 68
LIZKX Sortino Ratio Rank: 63
LIZKX Omega Ratio Rank: 63
LIZKX Calmar Ratio Rank: 72
LIZKX Martin Ratio Rank: 78

FRKMX

FRKMX Risk / Return Rank: 84
FRKMX Sharpe Ratio Rank: 19
FRKMX Sortino Ratio Rank: 100
FRKMX Omega Ratio Rank: 100
FRKMX Calmar Ratio Rank: 100
FRKMX 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.

LIZKX vs. FRKMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock LifePath Index 2060 Fund Class K (LIZKX) and Fidelity Managed Retirement Income Fund Class K (FRKMX). 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.

	LIZKX	FRKMX	Difference
Sharpe ratio: Return per unit of total volatility	2.21	1.15	+1.06
Sortino ratio: Return per unit of downside risk	3.04	5,218,028.60	-5,218,025.56
Omega ratio: Gain probability vs. loss probability	1.40	727,316.16	-727,314.76
Calmar ratio: Return relative to maximum drawdown	3.12	5,078,659.88	-5,078,656.76
Martin ratio: Return relative to average drawdown	13.55	21,305,391.80	-21,305,378.25

LIZKX vs. FRKMX - Sharpe Ratio Comparison

The current LIZKX Sharpe Ratio is 2.21, which is higher than the FRKMX Sharpe Ratio of 1.15. The chart below compares the historical Sharpe Ratios of LIZKX and FRKMX, 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

LIZKX vs. FRKMX - Drawdown Comparison

The maximum LIZKX drawdown since its inception was -34.39%, which is greater than FRKMX's maximum drawdown of -16.04%. Use the drawdown chart below to compare losses from any high point for LIZKX and FRKMX.

Drawdown Indicators

	LIZKX	FRKMX	Difference
Max Drawdown Largest peak-to-trough decline	-34.39%	-16.04%	-18.35%
Max Drawdown (1Y) Largest decline over 1 year	-9.50%	-3.42%	-6.08%
Max Drawdown (3Y) Largest decline over 3 years	-17.24%	-4.93%	-12.31%
Max Drawdown (5Y) Largest decline over 5 years	-26.40%	-16.04%	-10.36%
Current Drawdown Current decline from peak	-0.62%	0.00%	-0.62%
Average Drawdown Average peak-to-trough decline	-4.91%	-3.54%	-1.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.18%	0.81%	+1.37%

Volatility

LIZKX vs. FRKMX - Volatility Comparison

The current volatility for BlackRock LifePath Index 2060 Fund Class K (LIZKX) is 5.19%, while Fidelity Managed Retirement Income Fund Class K (FRKMX) has a volatility of 1,192.42%. This indicates that LIZKX experiences smaller price fluctuations and is considered to be less risky than FRKMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LIZKX	FRKMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.19%	1,192.42%	-1,187.23%
Volatility (6M) Calculated over the trailing 6-month period	11.15%	1,192.41%	-1,181.26%
Volatility (1Y) Calculated over the trailing 1-year period	13.43%	15,119,929.64%	-15,119,916.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.00%	6,761,838.11%	-6,761,822.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.97%	5,765,888.45%	-5,765,871.48%

LIZKX vs. FRKMX - Expense Ratio Comparison

LIZKX has a 0.09% expense ratio, which is lower than FRKMX's 0.35% expense ratio.

Dividends

LIZKX vs. FRKMX - Dividend Comparison

LIZKX's dividend yield for the trailing twelve months is around 1.96%, less than FRKMX's 103.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FRKMX Fidelity Managed Retirement Income Fund Class K	103.36%	3.11%	3.12%	2.92%	4.66%	3.65%	2.56%	1.85%	0.00%	0.00%
LIZKX BlackRock LifePath Index 2060 Fund Class K	1.96%	2.20%	0.00%	2.06%	1.86%	2.01%	1.57%	2.53%	2.27%	2.08%

Frequently Asked Questions

Can I hold both LIZKX and FRKMX in my portfolio?

LIZKX and FRKMX 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.

Which is riskier, LIZKX or FRKMX?

FRKMX has higher volatility (1192.42%) compared to LIZKX (5.19%). In terms of maximum drawdown, LIZKX dropped -34.39% vs FRKMX's -16.04%.

Which has better risk-adjusted returns?

LIZKX currently has the higher Sharpe Ratio (2.21 vs 1.15), 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.