PACJX vs. FRHMX

Last updated Apr 2, 2026

Compare and contrast key facts about Putnam Retirement Advantage 2055 Fund (PACJX) and Fidelity Managed Retirement Income Fund Class K6 (FRHMX).

PACJX is managed by Putnam. It was launched on Dec 30, 2019. FRHMX is managed by BlackRock. It was launched on Aug 1, 2019.

Performance

PACJX vs. FRHMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Putnam Retirement Advantage 2055 Fund (PACJX) and Fidelity Managed Retirement Income Fund Class K6 (FRHMX). The values are adjusted to include any dividend payments, if applicable.

PACJX vs. FRHMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
PACJX Putnam Retirement Advantage 2055 Fund	-1.63%	19.51%	15.39%	30.61%	-17.58%	19.58%	15.82%
FRHMX Fidelity Managed Retirement Income Fund Class K6	0.28%	10.02%	4.50%	8.28%	-11.48%	2.98%	8.40%

Returns By Period

In the year-to-date period, PACJX achieves a -1.63% return, which is significantly lower than FRHMX's 0.28% return.

PACJX

• 1D: 2.59%
• 1M: -4.73%
• YTD: -1.63%
• 6M: 0.89%
• 1Y: 19.37%
• 3Y*: 18.24%
• 5Y*: 10.35%
• 10Y*: —

FRHMX

• 1D: 0.74%
• 1M: -2.06%
• YTD: 0.28%
• 6M: 1.40%
• 1Y: 7.78%
• 3Y*: 6.39%
• 5Y*: 2.63%
• 10Y*: —

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

PACJX vs. FRHMX - Expense Ratio Comparison

PACJX has a 0.45% expense ratio, which is higher than FRHMX's 0.25% expense ratio.

PACJX

Putnam Retirement Advantage 2055 Fund

FRHMX

Fidelity Managed Retirement Income Fund Class K6

Return for Risk

PACJX vs. FRHMX — Risk / Return Rank

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

PACJX

PACJX Risk / Return Rank: 71
PACJX Sharpe Ratio Rank: 66
PACJX Sortino Ratio Rank: 69
PACJX Omega Ratio Rank: 69
PACJX Calmar Ratio Rank: 70
PACJX Martin Ratio Rank: 81

FRHMX

FRHMX Risk / Return Rank: 84
FRHMX Sharpe Ratio Rank: 85
FRHMX Sortino Ratio Rank: 86
FRHMX Omega Ratio Rank: 83
FRHMX Calmar Ratio Rank: 85
FRHMX Martin Ratio Rank: 84

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.

PACJX vs. FRHMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Putnam Retirement Advantage 2055 Fund (PACJX) 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.

	PACJX	FRHMX	Difference
Sharpe ratio Return per unit of total volatility	1.29	1.75	-0.46
Sortino ratio Return per unit of downside risk	1.88	2.45	-0.57
Omega ratio Gain probability vs. loss probability	1.28	1.35	-0.07
Calmar ratio Return relative to maximum drawdown	1.84	2.38	-0.54
Martin ratio Return relative to average drawdown	8.90	9.46	-0.56
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PACJX vs. FRHMX - Sharpe Ratio Comparison

The current PACJX Sharpe Ratio is 1.29, which is comparable to the FRHMX Sharpe Ratio of 1.75. The chart below compares the historical Sharpe Ratios of PACJX and FRHMX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	PACJX	FRHMX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.29	1.75	-0.46
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.69	0.51	+0.19
Sharpe Ratio (All Time) Calculated using the full available price history	0.66	0.73	-0.07

Correlation

The correlation between PACJX and FRHMX is 0.69, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

PACJX vs. FRHMX - Dividend Comparison

PACJX's dividend yield for the trailing twelve months is around 10.11%, more than FRHMX's 3.36% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019
PACJX Putnam Retirement Advantage 2055 Fund	10.11%	9.94%	6.26%	4.56%	9.65%	17.43%	1.94%	0.00%
FRHMX Fidelity Managed Retirement Income Fund Class K6	3.36%	3.22%	3.24%	3.02%	4.77%	3.78%	2.61%	1.95%

Drawdowns

PACJX vs. FRHMX - Drawdown Comparison

The maximum PACJX drawdown since its inception was -32.14%, which is greater than FRHMX's maximum drawdown of -15.96%. Use the drawdown chart below to compare losses from any high point for PACJX and FRHMX.

Drawdown Indicators

	PACJX	FRHMX	Difference
Max Drawdown Largest peak-to-trough decline	-32.14%	-15.96%	-16.18%
Max Drawdown (1Y) Largest decline over 1 year	-10.88%	-3.42%	-7.46%
Max Drawdown (5Y) Largest decline over 5 years	-24.11%	-15.96%	-8.15%
Current Drawdown Current decline from peak	-5.65%	-2.45%	-3.20%
Average Drawdown Average peak-to-trough decline	-5.56%	-3.58%	-1.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.24%	0.86%	+1.38%

Volatility

PACJX vs. FRHMX - Volatility Comparison

Putnam Retirement Advantage 2055 Fund (PACJX) has a higher volatility of 5.15% compared to Fidelity Managed Retirement Income Fund Class K6 (FRHMX) at 2.13%. This indicates that PACJX'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

	PACJX	FRHMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.15%	2.13%	+3.02%
Volatility (6M) Calculated over the trailing 6-month period	8.62%	2.94%	+5.68%
Volatility (1Y) Calculated over the trailing 1-year period	15.44%	4.63%	+10.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.05%	5.23%	+9.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.06%	5.14%	+12.92%