MXLLX vs. FRHMX

Last updated Jun 9, 2026

MXLLX (Great-West Lifetime 2035 Fund) and FRHMX (Fidelity Managed Retirement Income Fund Class K6) are both Target Retirement Date funds. Over the past 5 years, MXLLX returned 5.55%/yr vs 2.75%/yr for FRHMX. A 0.66 correlation means they provide meaningful diversification when combined. MXLLX charges 0.56%/yr vs 0.25%/yr for FRHMX.

Performance

MXLLX vs. FRHMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Great-West Lifetime 2035 Fund (MXLLX) and Fidelity Managed Retirement Income Fund Class K6 (FRHMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MXLLX achieves a 5.78% return, which is significantly higher than FRHMX's 2.85% return.

MXLLX

• 1D: -1.93%
• 1M: -0.63%
• YTD: 5.78%
• 6M: 6.34%
• 1Y: 15.37%
• 3Y*: 12.29%
• 5Y*: 5.55%
• 10Y*: 7.81%

FRHMX

• 1D: -1.07%
• 1M: -0.63%
• YTD: 2.85%
• 6M: 3.31%
• 1Y: 9.17%
• 3Y*: 7.25%
• 5Y*: 2.75%
• 10Y*: —

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

MXLLX vs. FRHMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
MXLLX Great-West Lifetime 2035 Fund	5.78%	14.21%	8.80%	14.60%	-15.77%	13.55%	13.01%	7.23%
FRHMX Fidelity Managed Retirement Income Fund Class K6	2.85%	10.02%	4.50%	8.28%	-11.48%	2.98%	8.79%	3.17%

Correlation

The correlation between MXLLX and FRHMX 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	0.74
Correlation (5Y) Calculated over the trailing 5-year period	0.69
Correlation (All Time) Calculated using the full available price history since Aug 2, 2019	0.66

The correlation between MXLLX and FRHMX shifts across timeframes, from 0.66 (all time) to 0.79 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

MXLLX vs. FRHMX — Risk / Return Rank

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

MXLLX

MXLLX Risk / Return Rank: 42
MXLLX Sharpe Ratio Rank: 39
MXLLX Sortino Ratio Rank: 39
MXLLX Omega Ratio Rank: 41
MXLLX Calmar Ratio Rank: 41
MXLLX Martin Ratio Rank: 48

FRHMX

FRHMX Risk / Return Rank: 59
FRHMX Sharpe Ratio Rank: 59
FRHMX Sortino Ratio Rank: 58
FRHMX Omega Ratio Rank: 64
FRHMX Calmar Ratio Rank: 53
FRHMX Martin Ratio Rank: 60

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.

MXLLX vs. FRHMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Great-West Lifetime 2035 Fund (MXLLX) and Fidelity Managed Retirement Income Fund Class K6 (FRHMX). 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.

	MXLLX	FRHMX	Difference
Sharpe ratio: Return per unit of total volatility	1.62	2.09	-0.47
Sortino ratio: Return per unit of downside risk	2.30	2.98	-0.68
Omega ratio: Gain probability vs. loss probability	1.31	1.41	-0.11
Calmar ratio: Return relative to maximum drawdown	2.21	2.62	-0.42
Martin ratio: Return relative to average drawdown	9.19	11.18	-1.99
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MXLLX vs. FRHMX - Sharpe Ratio Comparison

The current MXLLX Sharpe Ratio is 1.62, which is comparable to the FRHMX Sharpe Ratio of 2.09. The chart below compares the historical Sharpe Ratios of MXLLX and FRHMX, 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

	MXLLX	FRHMX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.62	2.09	-0.47
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.44	0.52	-0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.58	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	0.78	-0.38

Drawdowns

MXLLX vs. FRHMX - Drawdown Comparison

The maximum MXLLX drawdown since its inception was -37.21%, which is greater than FRHMX's maximum drawdown of -15.96%. Use the drawdown chart below to compare losses from any high point for MXLLX and FRHMX.

Drawdown Indicators

	MXLLX	FRHMX	Difference
Max Drawdown Largest peak-to-trough decline	-37.21%	-15.96%	-21.25%
Max Drawdown (1Y) Largest decline over 1 year	-7.22%	-3.42%	-3.80%
Max Drawdown (3Y) Largest decline over 3 years	-11.43%	-4.90%	-6.53%
Max Drawdown (5Y) Largest decline over 5 years	-26.28%	-15.96%	-10.32%
Max Drawdown (10Y) Largest decline over 10 years	-29.09%	—	—
Current Drawdown Current decline from peak	-2.05%	-1.23%	-0.82%
Average Drawdown Average peak-to-trough decline	-9.54%	-3.50%	-6.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.73%	0.80%	+0.93%

Volatility

MXLLX vs. FRHMX - Volatility Comparison

Great-West Lifetime 2035 Fund (MXLLX) has a higher volatility of 3.05% compared to Fidelity Managed Retirement Income Fund Class K6 (FRHMX) at 1.86%. This indicates that MXLLX's price experiences larger fluctuations and is considered to be riskier than FRHMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MXLLX	FRHMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.05%	1.86%	+1.19%
Volatility (6M) Calculated over the trailing 6-month period	7.35%	3.59%	+3.76%
Volatility (1Y) Calculated over the trailing 1-year period	9.85%	4.30%	+5.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.71%	5.30%	+7.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.62%	5.16%	+8.46%

MXLLX vs. FRHMX - Expense Ratio Comparison

MXLLX has a 0.56% expense ratio, which is higher than FRHMX's 0.25% expense ratio.

Dividends

MXLLX vs. FRHMX - Dividend Comparison

MXLLX's dividend yield for the trailing twelve months is around 3.87%, more than FRHMX's 3.11% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FRHMX Fidelity Managed Retirement Income Fund Class K6	3.11%	3.22%	3.24%	3.02%	4.77%	3.78%	2.61%	1.95%	0.00%	0.00%
MXLLX Great-West Lifetime 2035 Fund	3.87%	4.09%	5.91%	4.17%	8.24%	9.48%	5.18%	9.14%	11.17%	3.48%

Frequently Asked Questions

Can I hold both MXLLX and FRHMX in my portfolio?

MXLLX and FRHMX 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, MXLLX or FRHMX?

MXLLX has higher volatility (3.05%) compared to FRHMX (1.86%). In terms of maximum drawdown, MXLLX dropped -37.21% vs FRHMX's -15.96%.

Which has better risk-adjusted returns?

FRHMX currently has the higher Sharpe Ratio (2.09 vs 1.62), 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.