MXXLX vs. FRQIX

Last updated Jun 26, 2026

MXXLX (Great-West Lifetime 2055 Fund) and FRQIX (Fidelity Advisor Managed Retirement 2010 Fund Class I) are both Target Retirement Date funds. Over the past 10 years, MXXLX returned 9.86%/yr vs 5.14%/yr for FRQIX. Their correlation of 0.82 suggests significant overlap in exposure. MXXLX charges 0.57%/yr vs 0.46%/yr for FRQIX.

Performance

MXXLX vs. FRQIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Great-West Lifetime 2055 Fund (MXXLX) 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, MXXLX achieves a 9.38% return, which is significantly higher than FRQIX's 3.60% return. Over the past 10 years, MXXLX has outperformed FRQIX with an annualized return of 9.86%, while FRQIX has yielded a comparatively lower 5.14% annualized return.

MXXLX

• 1D: 0.14%
• 1M: -0.63%
• YTD: 9.38%
• 6M: 8.39%
• 1Y: 20.41%
• 3Y*: 15.37%
• 5Y*: 7.28%
• 10Y*: 9.86%

FRQIX

• 1D: 0.00%
• 1M: 0.13%
• YTD: 3.60%
• 6M: 3.42%
• 1Y: 8.58%
• 3Y*: 7.45%
• 5Y*: 2.72%
• 10Y*: 5.14%

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

MXXLX vs. FRQIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MXXLX Great-West Lifetime 2055 Fund	9.38%	17.54%	10.65%	17.25%	-17.19%	16.12%	13.57%	25.75%	-13.05%	21.19%
FRQIX Fidelity Advisor Managed Retirement 2010 Fund Class I	3.60%	9.97%	4.48%	8.52%	-12.39%	3.82%	9.58%	12.63%	-2.84%	10.64%

Correlation

The correlation between MXXLX and FRQIX is 0.77, 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	0.77
Correlation (3Y) Calculated over the trailing 3-year period	0.71
Correlation (5Y) Calculated over the trailing 5-year period	0.69
Correlation (10Y) Calculated over the trailing 10-year period	0.69
Correlation (All Time) Calculated using the full available price history since May 4, 2009	0.82

The correlation between MXXLX and FRQIX shifts across timeframes, from 0.69 (10 years) to 0.82 (all time), reflecting how their relationship changes across market environments.

Return for Risk

MXXLX vs. FRQIX — Risk / Return Rank

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

MXXLX

MXXLX Risk / Return Rank: 52
MXXLX Sharpe Ratio Rank: 51
MXXLX Sortino Ratio Rank: 49
MXXLX Omega Ratio Rank: 50
MXXLX Calmar Ratio Rank: 52
MXXLX Martin Ratio Rank: 60

FRQIX

FRQIX Risk / Return Rank: 68
FRQIX Sharpe Ratio Rank: 69
FRQIX Sortino Ratio Rank: 72
FRQIX Omega Ratio Rank: 76
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.

MXXLX vs. FRQIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Great-West Lifetime 2055 Fund (MXXLX) 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.

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.

	MXXLX	FRQIX	Difference
Sharpe ratio: Return per unit of total volatility	1.70	2.00	-0.30
Sortino ratio: Return per unit of downside risk	2.39	2.90	-0.51
Omega ratio: Gain probability vs. loss probability	1.31	1.40	-0.09
Calmar ratio: Return relative to maximum drawdown	2.36	2.53	-0.17
Martin ratio: Return relative to average drawdown	9.95	10.56	-0.62

MXXLX vs. FRQIX - Sharpe Ratio Comparison

The current MXXLX Sharpe Ratio is 1.70, which is comparable to the FRQIX Sharpe Ratio of 2.00. The chart below compares the historical Sharpe Ratios of MXXLX 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.

Drawdowns

MXXLX vs. FRQIX - Drawdown Comparison

The maximum MXXLX drawdown since its inception was -33.59%, smaller than the maximum FRQIX drawdown of -38.01%. Use the drawdown chart below to compare losses from any high point for MXXLX and FRQIX.

Drawdown Indicators

	MXXLX	FRQIX	Difference
Max Drawdown Largest peak-to-trough decline	-33.59%	-38.01%	+4.42%
Max Drawdown (1Y) Largest decline over 1 year	-9.11%	-3.43%	-5.68%
Max Drawdown (3Y) Largest decline over 3 years	-15.05%	-5.21%	-9.84%
Max Drawdown (5Y) Largest decline over 5 years	-28.94%	-17.04%	-11.90%
Max Drawdown (10Y) Largest decline over 10 years	-33.59%	-17.04%	-16.55%
Current Drawdown Current decline from peak	-1.70%	-0.42%	-1.28%
Average Drawdown Average peak-to-trough decline	-7.01%	-4.42%	-2.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.15%	0.82%	+1.33%

Volatility

MXXLX vs. FRQIX - Volatility Comparison

Great-West Lifetime 2055 Fund (MXXLX) has a higher volatility of 4.74% compared to Fidelity Advisor Managed Retirement 2010 Fund Class I (FRQIX) at 1.68%. This indicates that MXXLX'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

	MXXLX	FRQIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.74%	1.68%	+3.06%
Volatility (6M) Calculated over the trailing 6-month period	10.04%	3.67%	+6.37%
Volatility (1Y) Calculated over the trailing 1-year period	12.62%	4.34%	+8.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.70%	5.60%	+10.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.41%	5.29%	+11.12%

MXXLX vs. FRQIX - Expense Ratio Comparison

MXXLX has a 0.57% expense ratio, which is higher than FRQIX's 0.46% expense ratio.

Dividends

MXXLX vs. FRQIX - Dividend Comparison

MXXLX's dividend yield for the trailing twelve months is around 2.72%, less than FRQIX's 3.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FRQIX Fidelity Advisor Managed Retirement 2010 Fund Class I	3.22%	3.14%	2.97%	2.75%	5.01%	6.00%	3.51%	3.14%	5.60%	16.32%	2.43%	4.08%
MXXLX Great-West Lifetime 2055 Fund	2.72%	2.97%	4.27%	3.42%	7.87%	8.92%	5.05%	9.47%	10.16%	2.95%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MXXLX and FRQIX in my portfolio?

MXXLX and FRQIX have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MXXLX or FRQIX?

MXXLX has higher volatility (4.74%) compared to FRQIX (1.68%). In terms of maximum drawdown, MXXLX dropped -33.59% vs FRQIX's -38.01%.

Which has better risk-adjusted returns?

FRQIX currently has the higher Sharpe Ratio (2.00 vs 1.70), 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.