LPWRX vs. FRKMX

Last updated Jul 17, 2026

LPWRX (BlackRock LifePath Dynamic 2065 Fund) and FRKMX (Fidelity Managed Retirement Income Fund Class K) are both Target Retirement Date funds from BlackRock. A 0.69 correlation means they provide meaningful diversification when combined. LPWRX charges 0.93%/yr vs 0.35%/yr for FRKMX.

Performance

LPWRX vs. FRKMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock LifePath Dynamic 2065 Fund (LPWRX) and Fidelity Managed Retirement Income Fund Class K (FRKMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

LPWRX

• 1D: 0.29%
• 1M: -0.06%
• 6M: 9.31%
• YTD: 12.47%
• 1Y: 23.60%
• 3Y*: 15.87%
• 5Y*: 8.95%
• 10Y*: —

FRKMX

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

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

LPWRX vs. FRKMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
LPWRX BlackRock LifePath Dynamic 2065 Fund	12.47%	20.43%	8.99%	22.14%	-18.94%	17.84%	13.47%	5.28%
FRKMX Fidelity Managed Retirement Income Fund Class K	15,640,638.04%	9.91%	4.40%	8.17%	-11.57%	2.88%	8.68%	1.79%

Correlation

The correlation between LPWRX and FRKMX is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.71
Correlation (5Y) Calculated over the trailing 5-year period	0.69
Correlation (All Time) Calculated using the full available price history since Oct 30, 2019	0.69

The correlation between LPWRX and FRKMX shifts across timeframes, from 0.69 (5 years) to 0.79 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

LPWRX vs. FRKMX — Risk / Return Rank

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

LPWRX

LPWRX Risk / Return Rank: 51
LPWRX Sharpe Ratio Rank: 46
LPWRX Sortino Ratio Rank: 44
LPWRX Omega Ratio Rank: 45
LPWRX Calmar Ratio Rank: 57
LPWRX Martin Ratio Rank: 64

FRKMX

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.

LPWRX vs. FRKMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock LifePath Dynamic 2065 Fund (LPWRX) 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.

	LPWRX	FRKMX	Difference
Sharpe ratio: Return per unit of total volatility	1.59	—	—
Sortino ratio: Return per unit of downside risk	2.21	—	—
Omega ratio: Gain probability vs. loss probability	1.29	—	—
Calmar ratio: Return relative to maximum drawdown	2.42	—	—
Martin ratio: Return relative to average drawdown	10.08	—	—

Drawdowns

Drawdown Indicators

	LPWRX	FRKMX	Difference
Max Drawdown Largest peak-to-trough decline	-33.27%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-10.07%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-21.36%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-27.28%	—	—
Current Drawdown Current decline from peak	-1.15%	—	—
Average Drawdown Average peak-to-trough decline	-6.36%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	2.41%	—	—

Volatility

Volatility by Period

	LPWRX	FRKMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.46%	—	—
Volatility (6M) Calculated over the trailing 6-month period	12.91%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	15.34%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.16%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.61%	—	—

LPWRX vs. FRKMX - Expense Ratio Comparison

LPWRX has a 0.93% expense ratio, which is higher than FRKMX's 0.35% expense ratio.

Dividends

LPWRX vs. FRKMX - Dividend Comparison

LPWRX's dividend yield for the trailing twelve months is around 2.01%, less than FRKMX's 103.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
FRKMX Fidelity Managed Retirement Income Fund Class K	103.22%	3.11%	3.12%	2.92%	4.66%	3.65%	2.56%	1.85%
LPWRX BlackRock LifePath Dynamic 2065 Fund	2.01%	2.26%	1.00%	2.07%	2.35%	9.34%	1.00%	0.55%

Frequently Asked Questions

Can I hold both LPWRX and FRKMX in my portfolio?

LPWRX and FRKMX have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.