LTMKX vs. FRKMX

Last updated Jul 17, 2026

LTMKX (MFS Lifetime 2045 Fund) and FRKMX (Fidelity Managed Retirement Income Fund Class K) are both Target Retirement Date funds. A 0.71 correlation means they provide meaningful diversification when combined. LTMKX charges 0.00%/yr vs 0.35%/yr for FRKMX.

Performance

LTMKX vs. FRKMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MFS Lifetime 2045 Fund (LTMKX) and Fidelity Managed Retirement Income Fund Class K (FRKMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

LTMKX

• 1D: 0.26%
• 1M: 0.57%
• 6M: 7.29%
• YTD: 10.70%
• 1Y: 17.89%
• 3Y*: 14.82%
• 5Y*: 8.66%
• 10Y*: 10.91%

FRKMX

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

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

LTMKX vs. FRKMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
LTMKX MFS Lifetime 2045 Fund	10.70%	15.70%	12.91%	16.64%	-15.59%	20.23%	13.27%	7.51%
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 LTMKX and FRKMX is 0.81, 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	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.73
Correlation (5Y) Calculated over the trailing 5-year period	0.71
Correlation (All Time) Calculated using the full available price history since Aug 1, 2019	0.71

The correlation between LTMKX and FRKMX has been stable across timeframes, ranging from 0.71 to 0.81 - a consistent structural relationship.

Return for Risk

LTMKX vs. FRKMX — Risk / Return Rank

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

LTMKX

LTMKX Risk / Return Rank: 58
LTMKX Sharpe Ratio Rank: 58
LTMKX Sortino Ratio Rank: 59
LTMKX Omega Ratio Rank: 57
LTMKX Calmar Ratio Rank: 52
LTMKX Martin Ratio Rank: 63

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.

LTMKX vs. FRKMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MFS Lifetime 2045 Fund (LTMKX) 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.

	LTMKX	FRKMX	Difference
Sharpe ratio: Return per unit of total volatility	1.77	—	—
Sortino ratio: Return per unit of downside risk	2.51	—	—
Omega ratio: Gain probability vs. loss probability	1.32	—	—
Calmar ratio: Return relative to maximum drawdown	2.33	—	—
Martin ratio: Return relative to average drawdown	9.88	—	—

Drawdowns

Drawdown Indicators

	LTMKX	FRKMX	Difference
Max Drawdown Largest peak-to-trough decline	-32.78%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-7.84%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-13.73%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-22.91%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-32.78%	—	—
Current Drawdown Current decline from peak	-0.22%	—	—
Average Drawdown Average peak-to-trough decline	-3.84%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	1.85%	—	—

Volatility

Volatility by Period

	LTMKX	FRKMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.76%	—	—
Volatility (6M) Calculated over the trailing 6-month period	8.37%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	10.38%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.55%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.64%	—	—

LTMKX vs. FRKMX - Expense Ratio Comparison

LTMKX has a 0.00% expense ratio, which is lower than FRKMX's 0.35% expense ratio.

Dividends

LTMKX vs. FRKMX - Dividend Comparison

LTMKX's dividend yield for the trailing twelve months is around 7.01%, less than FRKMX's 103.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FRKMX Fidelity Managed Retirement Income Fund Class K	103.22%	3.11%	3.12%	2.92%	4.66%	3.65%	2.56%	1.85%	0.00%	0.00%	0.00%	0.00%
LTMKX MFS Lifetime 2045 Fund	7.01%	7.76%	5.02%	3.26%	6.45%	8.35%	2.47%	3.95%	4.12%	3.21%	3.60%	1.76%

Frequently Asked Questions

Can I hold both LTMKX and FRKMX in my portfolio?

LTMKX and FRKMX have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.