FAFAX vs. FIKFX

Last updated Aug 1, 2026

FAFAX (Fidelity Advisor Freedom Income Fund Class A) and FIKFX (Fidelity Freedom Index Retirement Fund Investor Class) are both Target Retirement Date funds from Fidelity. Over the past 10 years, FAFAX returned 3.85%/yr vs 4.02%/yr for FIKFX. Their correlation of 0.93 means they have usually moved in the same direction. FAFAX charges 0.72%/yr vs 0.12%/yr for FIKFX.

Performance

FAFAX vs. FIKFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Freedom Income Fund Class A (FAFAX) and Fidelity Freedom Index Retirement Fund Investor Class (FIKFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with FAFAX having a 3.37% return and FIKFX slightly lower at 3.28%. Both investments have delivered pretty close results over the past 10 years, with FAFAX having a 3.85% annualized return and FIKFX not far ahead at 4.02%.

FAFAX

• 1D: 0.73%
• 1M: -0.72%
• 6M: 2.04%
• YTD: 3.37%
• 1Y: 7.09%
• 3Y*: 6.74%
• 5Y*: 2.39%
• 10Y*: 3.85%
• ALL TIME*: 3.61%

FIKFX

• 1D: 0.56%
• 1M: -0.35%
• 6M: 2.29%
• YTD: 3.28%
• 1Y: 7.10%
• 3Y*: 6.88%
• 5Y*: 2.72%
• 10Y*: 4.02%
• ALL TIME*: 3.91%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FAFAX Fidelity Advisor Freedom Income Fund Class A	$0.00	$0.00	$0.00
FIKFX Fidelity Freedom Index Retirement Fund Investor Class	$0.00	$0.00	$0.00

FAFAX vs. FIKFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FAFAX Fidelity Advisor Freedom Income Fund Class A	3.37%	9.76%	4.04%	7.83%	-11.67%	2.92%	8.46%	10.85%	-2.03%	7.12%
FIKFX Fidelity Freedom Index Retirement Fund Investor Class	3.28%	9.23%	4.96%	8.28%	-11.09%	2.79%	8.54%	10.59%	-0.76%	6.66%

Correlation

The correlation between FAFAX and FIKFX is 0.96 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.96
Correlation (3Y) Balances recent behavior with more history.	0.96
Correlation (5Y) Shows whether the relationship held over a longer period.	0.96
Correlation (10Y) Provides a long-term view across more market conditions.	0.94
Correlation (All Time) Calculated using the full available price history since Oct 5, 2009	0.93

The correlation between FAFAX and FIKFX has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.

Return for Risk

FAFAX vs. FIKFX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FAFAX

FAFAX Risk / Return Rank: 56
FAFAX Sharpe Ratio Rank: 54
FAFAX Sortino Ratio Rank: 53
FAFAX Omega Ratio Rank: 58
FAFAX Calmar Ratio Rank: 53
FAFAX Martin Ratio Rank: 60

FIKFX

FIKFX Risk / Return Rank: 73
FIKFX Sharpe Ratio Rank: 73
FIKFX Sortino Ratio Rank: 73
FIKFX Omega Ratio Rank: 74
FIKFX Calmar Ratio Rank: 69
FIKFX Martin Ratio Rank: 77

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FAFAX vs. FIKFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Freedom Income Fund Class A (FAFAX) and Fidelity Freedom Index Retirement Fund Investor Class (FIKFX). 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.

	FAFAX	FIKFX	Difference
Sharpe ratio: Return per unit of total volatility	1.42	1.65	-0.23
Sortino ratio: Return per unit of downside risk	2.03	2.39	-0.36
Omega ratio: Gain probability vs. loss probability	1.27	1.32	-0.05
Calmar ratio: Return relative to maximum drawdown	1.97	2.20	-0.23
Martin ratio: Return relative to average drawdown	7.91	9.13	-1.22

FAFAX vs. FIKFX - Sharpe Ratio Comparison

The current FAFAX Sharpe Ratio is 1.42, which is comparable to the FIKFX Sharpe Ratio of 1.65. The chart below compares the historical Sharpe Ratios of FAFAX and FIKFX, 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

FAFAX vs. FIKFX - Drawdown Comparison

The maximum FAFAX drawdown since its inception was -19.07%, which is greater than FIKFX's maximum drawdown of -15.03%. Use the drawdown chart below to compare losses from any high point for FAFAX and FIKFX.

Drawdown Indicators

	FAFAX	FIKFX	Difference
Max Drawdown Largest peak-to-trough decline	-19.07%	-15.03%	-4.04%
Max Drawdown (1Y) Largest decline over 1 year	-3.73%	-3.32%	-0.41%
Max Drawdown (3Y) Largest decline over 3 years	-4.10%	-3.82%	-0.28%
Max Drawdown (5Y) Largest decline over 5 years	-16.11%	-15.03%	-1.08%
Max Drawdown (10Y) Largest decline over 10 years	-16.11%	-15.03%	-1.08%
Current Drawdown Current decline from peak	-1.26%	-0.87%	-0.39%
Average Drawdown Average peak-to-trough decline	-2.16%	-1.71%	-0.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.93%	0.80%	+0.13%

Volatility

FAFAX vs. FIKFX - Volatility Comparison

Fidelity Advisor Freedom Income Fund Class A (FAFAX) has a higher volatility of 1.64% compared to Fidelity Freedom Index Retirement Fund Investor Class (FIKFX) at 1.38%. This indicates that FAFAX's price experiences larger fluctuations and is considered to be riskier than FIKFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FAFAX	FIKFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.64%	1.38%	+0.26%
Volatility (6M) Calculated over the trailing 6-month period	4.57%	3.85%	+0.72%
Volatility (1Y) Calculated over the trailing 1-year period	5.18%	4.44%	+0.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.48%	5.21%	+0.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.69%	4.48%	+0.21%

FAFAX vs. FIKFX - Expense Ratio Comparison

FAFAX has a 0.72% expense ratio, which is higher than FIKFX's 0.12% expense ratio.

Dividends

FAFAX vs. FIKFX - Dividend Comparison

FAFAX's dividend yield for the trailing twelve months is around 2.64%, less than FIKFX's 3.20% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FAFAX Fidelity Advisor Freedom Income Fund Class A	2.35%	2.93%	2.88%	2.66%	5.70%	5.06%	3.60%	3.52%	5.39%	3.13%	2.86%	2.82%
FIKFX Fidelity Freedom Index Retirement Fund Investor Class	2.88%	3.40%	3.13%	2.85%	3.06%	2.04%	2.18%	7.27%	2.94%	1.89%	1.65%	1.39%

Frequently Asked Questions

Can I hold both FAFAX and FIKFX in my portfolio?

With a correlation of 0.96, FAFAX and FIKFX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, FAFAX or FIKFX?

FAFAX has higher volatility (1.64%) compared to FIKFX (1.38%). In terms of maximum drawdown, FAFAX dropped -19.07% vs FIKFX's -15.03%.

Which has better risk-adjusted returns?

FIKFX currently has the higher Sharpe Ratio (1.65 vs 1.42), 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.