MLLIX vs. FIRMX
MLLIX (MFS Lifetime Income Fund) and FIRMX (Fidelity Managed Retirement Income Fund) are both Target Retirement Date funds. Over the past 10 years, MLLIX returned 5.14%/yr vs 4.21%/yr for FIRMX. Their correlation of 0.88 suggests significant overlap in exposure. MLLIX charges 0.00%/yr vs 0.45%/yr for FIRMX.
Performance
MLLIX vs. FIRMX - Performance Comparison
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Returns By Period
In the year-to-date period, MLLIX achieves a 3.39% return, which is significantly lower than FIRMX's 3.60% return. Over the past 10 years, MLLIX has outperformed FIRMX with an annualized return of 5.14%, while FIRMX has yielded a comparatively lower 4.21% annualized return.
MLLIX
- 1D
- -0.16%
- 1M
- 0.81%
- YTD
- 3.39%
- 6M
- 3.49%
- 1Y
- 8.91%
- 3Y*
- 7.85%
- 5Y*
- 3.39%
- 10Y*
- 5.14%
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%
MLLIX vs. FIRMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MLLIX MFS Lifetime Income Fund | 3.39% | 9.32% | 5.62% | 9.12% | -11.99% | 6.63% | 10.06% | 13.91% | -2.37% | 8.24% |
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 MLLIX and FIRMX is 0.89, 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 | 0.89 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.89 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.90 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since Aug 30, 2007 | 0.88 |
The correlation between MLLIX and FIRMX has been stable across timeframes, ranging from 0.88 to 0.90 - a consistent structural relationship.
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Return for Risk
MLLIX vs. FIRMX — Risk / Return Rank
MLLIX
FIRMX
MLLIX vs. FIRMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MFS Lifetime Income Fund (MLLIX) 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.
| MLLIX | FIRMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.15 | ||
| Sortino ratioReturn per unit of downside risk | -0.14 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.44 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.39 | 2.77 | -0.38 |
| Martin ratioReturn relative to average drawdown | 10.65 | 11.63 | -0.98 |
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Drawdowns
MLLIX vs. FIRMX - Drawdown Comparison
The maximum MLLIX drawdown since its inception was -17.32%, smaller than the maximum FIRMX drawdown of -33.73%. Use the drawdown chart below to compare losses from any high point for MLLIX and FIRMX.
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Drawdown Indicators
| MLLIX | FIRMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.32% | -33.73% | +16.41% |
Max Drawdown (1Y)Largest decline over 1 year | -3.86% | -3.44% | -0.42% |
Max Drawdown (3Y)Largest decline over 3 years | -5.74% | -4.96% | -0.78% |
Max Drawdown (5Y)Largest decline over 5 years | -16.08% | -16.11% | +0.03% |
Max Drawdown (10Y)Largest decline over 10 years | -16.08% | -16.11% | +0.03% |
Current DrawdownCurrent decline from peak | -0.40% | -0.42% | +0.02% |
Average DrawdownAverage peak-to-trough decline | -2.15% | -3.70% | +1.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.86% | 0.82% | +0.04% |
Volatility
MLLIX vs. FIRMX - Volatility Comparison
The current volatility for MFS Lifetime Income Fund (MLLIX) is 1.60%, while Fidelity Managed Retirement Income Fund (FIRMX) has a volatility of 2.02%. This indicates that MLLIX experiences smaller price fluctuations and is considered to be less risky 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
| MLLIX | FIRMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.60% | 2.02% | -0.42% |
Volatility (6M)Calculated over the trailing 6-month period | 3.65% | 3.70% | -0.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.52% | 4.36% | +0.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.94% | 5.32% | +0.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.72% | 4.54% | +1.18% |
MLLIX vs. FIRMX - Expense Ratio Comparison
MLLIX has a 0.00% expense ratio, which is lower than FIRMX's 0.45% expense ratio.
Dividends
MLLIX vs. FIRMX - Dividend Comparison
MLLIX's dividend yield for the trailing twelve months is around 7.70%, 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% |
MLLIX MFS Lifetime Income Fund | 7.70% | 6.01% | 6.26% | 3.70% | 3.92% | 6.12% | 3.18% | 3.80% | 4.20% | 3.56% | 4.21% | 2.51% |
Frequently Asked Questions
MLLIX and FIRMX have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FIRMX has higher volatility (2.02%) compared to MLLIX (1.60%). In terms of maximum drawdown, MLLIX dropped -17.32% vs FIRMX's -33.73%.
FIRMX currently has the higher Sharpe Ratio (2.19 vs 2.04), 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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