MXBGX vs. FRKMX

Last updated Jun 23, 2026

MXBGX (Great-West Lifetime 2040 Fund) and FRKMX (Fidelity Managed Retirement Income Fund Class K) are both Target Retirement Date funds. Over the past 5 years, MXBGX returned 7.73%/yr vs 1016.85%/yr for FRKMX. A 0.65 correlation means they provide meaningful diversification when combined. MXBGX charges 0.11%/yr vs 0.35%/yr for FRKMX.

Performance

MXBGX vs. FRKMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Great-West Lifetime 2040 Fund (MXBGX) 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, MXBGX achieves a 9.38% return, which is significantly lower than FRKMX's 15,640,638.04% return.

MXBGX

• 1D: 0.78%
• 1M: 1.65%
• YTD: 9.38%
• 6M: 9.01%
• 1Y: 21.31%
• 3Y*: 14.26%
• 5Y*: 7.73%
• 10Y*: 9.64%

FRKMX

• 1D: 15,089,900.00%
• 1M: 15,188,508.30%
• YTD: 15,640,638.04%
• 6M: 15,661,136.22%
• 1Y: 16,523,017.61%
• 3Y*: 5,609.31%
• 5Y*: 1,016.85%
• 10Y*: —

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

MXBGX vs. FRKMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
MXBGX Great-West Lifetime 2040 Fund	9.38%	16.19%	10.17%	16.47%	-15.90%	15.69%	13.61%	8.16%
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 MXBGX 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	0.73
Correlation (5Y) Calculated over the trailing 5-year period	0.68
Correlation (All Time) Calculated using the full available price history since Aug 1, 2019	0.65

The correlation between MXBGX and FRKMX shifts across timeframes, from 0.65 (all time) to 0.79 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

MXBGX vs. FRKMX — Risk / Return Rank

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

MXBGX

MXBGX Risk / Return Rank: 50
MXBGX Sharpe Ratio Rank: 46
MXBGX Sortino Ratio Rank: 45
MXBGX Omega Ratio Rank: 49
MXBGX Calmar Ratio Rank: 52
MXBGX Martin Ratio Rank: 58

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.

MXBGX vs. FRKMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Great-West Lifetime 2040 Fund (MXBGX) 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.

	MXBGX	FRKMX	Difference
Sharpe ratio: Return per unit of total volatility	1.85	1.15	+0.70
Sortino ratio: Return per unit of downside risk	2.62	5,218,028.60	-5,218,025.98
Omega ratio: Gain probability vs. loss probability	1.35	727,316.16	-727,314.81
Calmar ratio: Return relative to maximum drawdown	2.64	5,078,659.88	-5,078,657.24
Martin ratio: Return relative to average drawdown	10.94	21,305,391.80	-21,305,380.86

MXBGX vs. FRKMX - Sharpe Ratio Comparison

The current MXBGX Sharpe Ratio is 1.85, which is higher than the FRKMX Sharpe Ratio of 1.15. The chart below compares the historical Sharpe Ratios of MXBGX 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

MXBGX vs. FRKMX - Drawdown Comparison

The maximum MXBGX drawdown since its inception was -30.12%, which is greater than FRKMX's maximum drawdown of -16.04%. Use the drawdown chart below to compare losses from any high point for MXBGX and FRKMX.

Drawdown Indicators

	MXBGX	FRKMX	Difference
Max Drawdown Largest peak-to-trough decline	-30.12%	-16.04%	-14.08%
Max Drawdown (1Y) Largest decline over 1 year	-7.98%	-3.42%	-4.56%
Max Drawdown (3Y) Largest decline over 3 years	-13.05%	-4.93%	-8.12%
Max Drawdown (5Y) Largest decline over 5 years	-28.13%	-16.04%	-12.09%
Max Drawdown (10Y) Largest decline over 10 years	-30.12%	—	—
Current Drawdown Current decline from peak	-0.23%	0.00%	-0.23%
Average Drawdown Average peak-to-trough decline	-5.59%	-3.54%	-2.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.92%	0.81%	+1.11%

Volatility

MXBGX vs. FRKMX - Volatility Comparison

The current volatility for Great-West Lifetime 2040 Fund (MXBGX) is 4.02%, while Fidelity Managed Retirement Income Fund Class K (FRKMX) has a volatility of 1,192.42%. This indicates that MXBGX 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

	MXBGX	FRKMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.02%	1,192.42%	-1,188.40%
Volatility (6M) Calculated over the trailing 6-month period	8.63%	1,192.41%	-1,183.78%
Volatility (1Y) Calculated over the trailing 1-year period	11.38%	15,119,929.64%	-15,119,918.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.50%	6,761,838.11%	-6,761,823.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.14%	5,765,888.45%	-5,765,873.31%

MXBGX vs. FRKMX - Expense Ratio Comparison

MXBGX has a 0.11% expense ratio, which is lower than FRKMX's 0.35% expense ratio.

Dividends

MXBGX vs. FRKMX - Dividend Comparison

MXBGX's dividend yield for the trailing twelve months is around 4.59%, 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%
MXBGX Great-West Lifetime 2040 Fund	4.59%	5.02%	6.86%	5.77%	11.05%	10.66%	6.43%	9.53%	7.86%	5.21%

Frequently Asked Questions

Can I hold both MXBGX and FRKMX in my portfolio?

MXBGX 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.

Which is riskier, MXBGX or FRKMX?

FRKMX has higher volatility (1192.42%) compared to MXBGX (4.02%). In terms of maximum drawdown, MXBGX dropped -30.12% vs FRKMX's -16.04%.

Which has better risk-adjusted returns?

MXBGX currently has the higher Sharpe Ratio (1.85 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.