PRZZX vs. FRKMX
Compare and contrast key facts about Putnam RetirementReady 2040 Fund (PRZZX) and Fidelity Managed Retirement Income Fund Class K (FRKMX).
PRZZX is managed by Putnam. It was launched on Oct 31, 2004. FRKMX is managed by BlackRock. It was launched on Aug 1, 2019.
Performance
PRZZX vs. FRKMX - Performance Comparison
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PRZZX vs. FRKMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
PRZZX Putnam RetirementReady 2040 Fund | -3.95% | 11.23% | 11.08% | 20.18% | -12.11% | 12.66% | 10.18% | 4.64% |
FRKMX Fidelity Managed Retirement Income Fund Class K | 0.27% | 9.91% | 4.40% | 8.17% | -11.57% | 2.88% | 8.68% | 3.08% |
Returns By Period
In the year-to-date period, PRZZX achieves a -3.95% return, which is significantly lower than FRKMX's 0.27% return.
PRZZX
- 1D
- 2.03%
- 1M
- -3.68%
- YTD
- -3.95%
- 6M
- -2.67%
- 1Y
- 9.92%
- 3Y*
- 10.86%
- 5Y*
- 6.28%
- 10Y*
- 7.92%
FRKMX
- 1D
- 0.75%
- 1M
- -2.05%
- YTD
- 0.27%
- 6M
- 1.36%
- 1Y
- 7.67%
- 3Y*
- 6.29%
- 5Y*
- 2.54%
- 10Y*
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PRZZX vs. FRKMX - Expense Ratio Comparison
PRZZX has a 0.05% expense ratio, which is lower than FRKMX's 0.35% expense ratio.
Return for Risk
PRZZX vs. FRKMX — Risk / Return Rank
PRZZX
FRKMX
PRZZX vs. FRKMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Putnam RetirementReady 2040 Fund (PRZZX) 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.
| PRZZX | FRKMX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.90 | 1.72 | -0.83 |
Sortino ratioReturn per unit of downside risk | 1.25 | 2.41 | -1.16 |
Omega ratioGain probability vs. loss probability | 1.18 | 1.35 | -0.16 |
Calmar ratioReturn relative to maximum drawdown | 1.09 | 2.35 | -1.26 |
Martin ratioReturn relative to average drawdown | 4.82 | 9.34 | -4.52 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PRZZX | FRKMX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.90 | 1.72 | -0.83 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.58 | 0.49 | +0.09 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.70 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.77 | 0.71 | +0.06 |
Correlation
The correlation between PRZZX and FRKMX is 0.73, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
PRZZX vs. FRKMX - Dividend Comparison
PRZZX's dividend yield for the trailing twelve months is around 2.00%, less than FRKMX's 3.25% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PRZZX Putnam RetirementReady 2040 Fund | 2.00% | 1.92% | 1.69% | 1.88% | 14.10% | 8.92% | 1.69% | 5.15% | 9.81% | 4.19% | 0.38% | 2.24% |
FRKMX Fidelity Managed Retirement Income Fund Class K | 3.25% | 3.11% | 3.12% | 2.92% | 4.66% | 3.65% | 2.56% | 1.85% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
PRZZX vs. FRKMX - Drawdown Comparison
The maximum PRZZX drawdown since its inception was -23.93%, which is greater than FRKMX's maximum drawdown of -16.04%. Use the drawdown chart below to compare losses from any high point for PRZZX and FRKMX.
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Drawdown Indicators
| PRZZX | FRKMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.93% | -16.04% | -7.89% |
Max Drawdown (1Y)Largest decline over 1 year | -9.45% | -3.42% | -6.03% |
Max Drawdown (5Y)Largest decline over 5 years | -17.08% | -16.04% | -1.04% |
Max Drawdown (10Y)Largest decline over 10 years | -23.93% | — | — |
Current DrawdownCurrent decline from peak | -5.32% | -2.44% | -2.88% |
Average DrawdownAverage peak-to-trough decline | -3.30% | -3.64% | +0.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.14% | 0.86% | +1.28% |
Volatility
PRZZX vs. FRKMX - Volatility Comparison
Putnam RetirementReady 2040 Fund (PRZZX) has a higher volatility of 4.14% compared to Fidelity Managed Retirement Income Fund Class K (FRKMX) at 2.14%. This indicates that PRZZX's price experiences larger fluctuations and is considered to be riskier than FRKMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PRZZX | FRKMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.14% | 2.14% | +2.00% |
Volatility (6M)Calculated over the trailing 6-month period | 6.92% | 2.95% | +3.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.42% | 4.63% | +6.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 10.85% | 5.23% | +5.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.28% | 5.14% | +6.14% |