MXGNX vs. FRQIX

Last updated Jun 6, 2026

MXGNX (Great-West Lifetime 2060 Fund) and FRQIX (Fidelity Advisor Managed Retirement 2010 Fund Class I) are both Target Retirement Date funds. Over the past 5 years, MXGNX returned 7.51%/yr vs 2.79%/yr for FRQIX. A 0.68 correlation means they provide meaningful diversification when combined. MXGNX charges 0.47%/yr vs 0.46%/yr for FRQIX.

Performance

MXGNX vs. FRQIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Great-West Lifetime 2060 Fund (MXGNX) and Fidelity Advisor Managed Retirement 2010 Fund Class I (FRQIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MXGNX achieves a 11.01% return, which is significantly higher than FRQIX's 3.87% return.

MXGNX

• 1D: 0.54%
• 1M: 1.63%
• YTD: 11.01%
• 6M: 11.45%
• 1Y: 24.03%
• 3Y*: 16.73%
• 5Y*: 7.51%
• 10Y*: —

FRQIX

• 1D: 0.09%
• 1M: 0.34%
• YTD: 3.87%
• 6M: 4.23%
• 1Y: 9.89%
• 3Y*: 7.66%
• 5Y*: 2.79%
• 10Y*: 4.92%

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

MXGNX vs. FRQIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
MXGNX Great-West Lifetime 2060 Fund	11.01%	17.97%	10.55%	17.34%	-17.97%	16.08%	13.72%	9.75%
FRQIX Fidelity Advisor Managed Retirement 2010 Fund Class I	3.87%	9.97%	4.48%	8.52%	-12.39%	3.82%	9.58%	6.40%

Correlation

The correlation between MXGNX and FRQIX is 0.76, 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	0.76
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 May 8, 2019	0.68

The correlation between MXGNX and FRQIX has been stable across timeframes, ranging from 0.68 to 0.76 - a consistent structural relationship.

Return for Risk

MXGNX vs. FRQIX — Risk / Return Rank

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

MXGNX

MXGNX Risk / Return Rank: 48
MXGNX Sharpe Ratio Rank: 45
MXGNX Sortino Ratio Rank: 44
MXGNX Omega Ratio Rank: 46
MXGNX Calmar Ratio Rank: 49
MXGNX Martin Ratio Rank: 56

FRQIX

FRQIX Risk / Return Rank: 68
FRQIX Sharpe Ratio Rank: 70
FRQIX Sortino Ratio Rank: 73
FRQIX Omega Ratio Rank: 73
FRQIX Calmar Ratio Rank: 59
FRQIX Martin Ratio Rank: 65

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.

MXGNX vs. FRQIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Great-West Lifetime 2060 Fund (MXGNX) and Fidelity Advisor Managed Retirement 2010 Fund Class I (FRQIX). 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.

	MXGNX	FRQIX	Difference
Sharpe ratio: Return per unit of total volatility	1.91	2.37	-0.46
Sortino ratio: Return per unit of downside risk	2.70	3.48	-0.77
Omega ratio: Gain probability vs. loss probability	1.36	1.47	-0.11
Calmar ratio: Return relative to maximum drawdown	2.59	2.86	-0.27
Martin ratio: Return relative to average drawdown	10.88	12.19	-1.31
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MXGNX vs. FRQIX - Sharpe Ratio Comparison

The current MXGNX Sharpe Ratio is 1.91, which is comparable to the FRQIX Sharpe Ratio of 2.37. The chart below compares the historical Sharpe Ratios of MXGNX and FRQIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MXGNX	FRQIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.91	2.37	-0.46
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.47	0.50	-0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.93	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	0.56	+0.02

Drawdowns

MXGNX vs. FRQIX - Drawdown Comparison

The maximum MXGNX drawdown since its inception was -31.98%, smaller than the maximum FRQIX drawdown of -38.01%. Use the drawdown chart below to compare losses from any high point for MXGNX and FRQIX.

Drawdown Indicators

	MXGNX	FRQIX	Difference
Max Drawdown Largest peak-to-trough decline	-31.98%	-38.01%	+6.03%
Max Drawdown (1Y) Largest decline over 1 year	-9.28%	-3.43%	-5.85%
Max Drawdown (3Y) Largest decline over 3 years	-15.12%	-5.21%	-9.91%
Max Drawdown (5Y) Largest decline over 5 years	-30.60%	-17.04%	-13.56%
Max Drawdown (10Y) Largest decline over 10 years	—	-17.04%	—
Current Drawdown Current decline from peak	-0.15%	-0.17%	+0.02%
Average Drawdown Average peak-to-trough decline	-7.56%	-4.43%	-3.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.20%	0.80%	+1.40%

Volatility

MXGNX vs. FRQIX - Volatility Comparison

Great-West Lifetime 2060 Fund (MXGNX) has a higher volatility of 3.36% compared to Fidelity Advisor Managed Retirement 2010 Fund Class I (FRQIX) at 1.65%. This indicates that MXGNX's price experiences larger fluctuations and is considered to be riskier than FRQIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MXGNX	FRQIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.36%	1.65%	+1.71%
Volatility (6M) Calculated over the trailing 6-month period	9.32%	3.41%	+5.91%
Volatility (1Y) Calculated over the trailing 1-year period	12.61%	4.16%	+8.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.96%	5.56%	+10.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.11%	5.33%	+12.78%

MXGNX vs. FRQIX - Expense Ratio Comparison

MXGNX has a 0.47% expense ratio, which is higher than FRQIX's 0.46% expense ratio.

Dividends

MXGNX vs. FRQIX - Dividend Comparison

MXGNX's dividend yield for the trailing twelve months is around 6.56%, more than FRQIX's 3.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FRQIX Fidelity Advisor Managed Retirement 2010 Fund Class I	3.04%	3.14%	2.97%	2.75%	5.01%	6.00%	3.51%	3.14%	5.60%	16.32%	2.43%	4.08%
MXGNX Great-West Lifetime 2060 Fund	6.56%	7.28%	6.42%	4.74%	7.99%	8.55%	5.26%	2.56%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MXGNX and FRQIX in my portfolio?

MXGNX and FRQIX have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MXGNX or FRQIX?

MXGNX has higher volatility (3.36%) compared to FRQIX (1.65%). In terms of maximum drawdown, MXGNX dropped -31.98% vs FRQIX's -38.01%.

Which has better risk-adjusted returns?

FRQIX currently has the higher Sharpe Ratio (2.37 vs 1.91), 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.