VTTHX vs. FRQKX

Last updated Jun 23, 2026

VTTHX (Vanguard Target Retirement 2035 Fund) and FRQKX (Fidelity Managed Retirement 2010 Fund Class K) are both Target Retirement Date funds. Over the past 5 years, VTTHX returned 8.01%/yr vs 2.83%/yr for FRQKX. Their correlation of 0.82 suggests significant overlap in exposure. VTTHX charges 0.08%/yr vs 0.36%/yr for FRQKX.

Performance

VTTHX vs. FRQKX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Target Retirement 2035 Fund (VTTHX) and Fidelity Managed Retirement 2010 Fund Class K (FRQKX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VTTHX achieves a 8.77% return, which is significantly higher than FRQKX's 3.66% return.

VTTHX

• 1D: 0.88%
• 1M: 1.50%
• YTD: 8.77%
• 6M: 8.72%
• 1Y: 21.33%
• 3Y*: 14.91%
• 5Y*: 8.01%
• 10Y*: 9.81%

FRQKX

• 1D: 0.00%
• 1M: 0.67%
• YTD: 3.66%
• 6M: 3.80%
• 1Y: 9.52%
• 3Y*: 7.28%
• 5Y*: 2.83%
• 10Y*: —

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

VTTHX vs. FRQKX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
VTTHX Vanguard Target Retirement 2035 Fund	8.77%	17.55%	11.56%	17.37%	-16.64%	12.96%	14.80%	7.18%
FRQKX Fidelity Managed Retirement 2010 Fund Class K	3.66%	9.91%	4.42%	8.62%	-12.30%	3.95%	9.68%	3.94%

Correlation

The correlation between VTTHX and FRQKX is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.86
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (5Y) Calculated over the trailing 5-year period	0.80
Correlation (All Time) Calculated using the full available price history since Aug 1, 2019	0.82

The correlation between VTTHX and FRQKX has been stable across timeframes, ranging from 0.80 to 0.86 - a consistent structural relationship.

Return for Risk

VTTHX vs. FRQKX — Risk / Return Rank

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

VTTHX

VTTHX Risk / Return Rank: 68
VTTHX Sharpe Ratio Rank: 69
VTTHX Sortino Ratio Rank: 69
VTTHX Omega Ratio Rank: 69
VTTHX Calmar Ratio Rank: 64
VTTHX Martin Ratio Rank: 71

FRQKX

FRQKX Risk / Return Rank: 69
FRQKX Sharpe Ratio Rank: 70
FRQKX Sortino Ratio Rank: 73
FRQKX Omega Ratio Rank: 76
FRQKX Calmar Ratio Rank: 60
FRQKX 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.

VTTHX vs. FRQKX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Target Retirement 2035 Fund (VTTHX) and Fidelity Managed Retirement 2010 Fund Class K (FRQKX). 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.

	VTTHX	FRQKX	Difference
Sharpe ratio: Return per unit of total volatility	2.23	2.23	0.00
Sortino ratio: Return per unit of downside risk	3.13	3.23	-0.10
Omega ratio: Gain probability vs. loss probability	1.42	1.45	-0.03
Calmar ratio: Return relative to maximum drawdown	2.94	2.84	+0.10
Martin ratio: Return relative to average drawdown	12.67	11.89	+0.78

VTTHX vs. FRQKX - Sharpe Ratio Comparison

The current VTTHX Sharpe Ratio is 2.23, which is comparable to the FRQKX Sharpe Ratio of 2.23. The chart below compares the historical Sharpe Ratios of VTTHX and FRQKX, 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

VTTHX vs. FRQKX - Drawdown Comparison

The maximum VTTHX drawdown since its inception was -51.76%, which is greater than FRQKX's maximum drawdown of -16.97%. Use the drawdown chart below to compare losses from any high point for VTTHX and FRQKX.

Drawdown Indicators

	VTTHX	FRQKX	Difference
Max Drawdown Largest peak-to-trough decline	-51.76%	-16.97%	-34.79%
Max Drawdown (1Y) Largest decline over 1 year	-7.17%	-3.42%	-3.75%
Max Drawdown (3Y) Largest decline over 3 years	-10.87%	-5.17%	-5.70%
Max Drawdown (5Y) Largest decline over 5 years	-23.53%	-16.97%	-6.56%
Max Drawdown (10Y) Largest decline over 10 years	-27.15%	—	—
Current Drawdown Current decline from peak	-0.33%	-0.42%	+0.09%
Average Drawdown Average peak-to-trough decline	-6.08%	-3.84%	-2.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.66%	0.82%	+0.84%

Volatility

VTTHX vs. FRQKX - Volatility Comparison

Vanguard Target Retirement 2035 Fund (VTTHX) has a higher volatility of 3.84% compared to Fidelity Managed Retirement 2010 Fund Class K (FRQKX) at 2.02%. This indicates that VTTHX's price experiences larger fluctuations and is considered to be riskier than FRQKX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VTTHX	FRQKX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.84%	2.02%	+1.82%
Volatility (6M) Calculated over the trailing 6-month period	7.90%	3.71%	+4.19%
Volatility (1Y) Calculated over the trailing 1-year period	9.44%	4.37%	+5.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.46%	5.60%	+5.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.49%	5.78%	+6.71%

VTTHX vs. FRQKX - Expense Ratio Comparison

VTTHX has a 0.08% expense ratio, which is lower than FRQKX's 0.36% expense ratio.

Dividends

VTTHX vs. FRQKX - Dividend Comparison

VTTHX's dividend yield for the trailing twelve months is around 2.72%, less than FRQKX's 3.42% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FRQKX Fidelity Managed Retirement 2010 Fund Class K	3.42%	3.09%	2.91%	2.86%	5.12%	6.11%	3.61%	2.57%	0.00%	0.00%	0.00%	0.00%
VTTHX Vanguard Target Retirement 2035 Fund	2.72%	2.96%	3.12%	2.47%	2.71%	19.52%	2.50%	2.33%	2.69%	0.16%	2.77%	4.67%

Frequently Asked Questions

Can I hold both VTTHX and FRQKX in my portfolio?

VTTHX and FRQKX have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VTTHX or FRQKX?

VTTHX has higher volatility (3.84%) compared to FRQKX (2.02%). In terms of maximum drawdown, VTTHX dropped -51.76% vs FRQKX's -16.97%.

Which has better risk-adjusted returns?

VTTHX currently has the higher Sharpe Ratio (2.23 vs 2.23), 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.