FAFFX vs. JLKYX

Last updated Jun 25, 2026

FAFFX (Fidelity Advisor Freedom 2040 Fund Class A) and JLKYX (John Hancock Funds Multi-Index 2055 Lifetime Portfolio) are both Target Retirement Date funds. Over the past 10 years, FAFFX returned 11.66%/yr vs 11.70%/yr for JLKYX. With a 0.98 correlation, they move nearly in lockstep. FAFFX charges 1.00%/yr vs 0.01%/yr for JLKYX.

Performance

FAFFX vs. JLKYX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Freedom 2040 Fund Class A (FAFFX) and John Hancock Funds Multi-Index 2055 Lifetime Portfolio (JLKYX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FAFFX achieves a 9.31% return, which is significantly lower than JLKYX's 10.33% return. Both investments have delivered pretty close results over the past 10 years, with FAFFX having a 11.66% annualized return and JLKYX not far ahead at 11.70%.

FAFFX

• 1D: -1.87%
• 1M: 0.67%
• YTD: 9.31%
• 6M: 8.68%
• 1Y: 20.91%
• 3Y*: 17.44%
• 5Y*: 8.24%
• 10Y*: 11.66%

JLKYX

• 1D: -1.90%
• 1M: 0.00%
• YTD: 10.33%
• 6M: 9.35%
• 1Y: 23.59%
• 3Y*: 18.56%
• 5Y*: 9.39%
• 10Y*: 11.70%

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

FAFFX vs. JLKYX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FAFFX Fidelity Advisor Freedom 2040 Fund Class A	9.31%	21.14%	12.60%	18.39%	-18.31%	15.78%	17.18%	26.41%	-8.48%	21.35%
JLKYX John Hancock Funds Multi-Index 2055 Lifetime Portfolio	10.33%	20.04%	15.41%	18.53%	-18.04%	18.38%	16.13%	25.07%	-8.32%	17.29%

Correlation

The correlation between FAFFX and JLKYX is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.98
Correlation (3Y) Calculated over the trailing 3-year period	0.98
Correlation (5Y) Calculated over the trailing 5-year period	0.98
Correlation (10Y) Calculated over the trailing 10-year period	0.98
Correlation (All Time) Calculated using the full available price history since Mar 27, 2014	0.98

The correlation between FAFFX and JLKYX has been stable across timeframes, ranging from 0.98 to 0.98 - a consistent structural relationship.

Return for Risk

FAFFX vs. JLKYX — Risk / Return Rank

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

FAFFX

FAFFX Risk / Return Rank: 51
FAFFX Sharpe Ratio Rank: 48
FAFFX Sortino Ratio Rank: 46
FAFFX Omega Ratio Rank: 49
FAFFX Calmar Ratio Rank: 51
FAFFX Martin Ratio Rank: 59

JLKYX

JLKYX Risk / Return Rank: 58
JLKYX Sharpe Ratio Rank: 56
JLKYX Sortino Ratio Rank: 52
JLKYX Omega Ratio Rank: 54
JLKYX Calmar Ratio Rank: 60
JLKYX Martin Ratio Rank: 68

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.

FAFFX vs. JLKYX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Freedom 2040 Fund Class A (FAFFX) and John Hancock Funds Multi-Index 2055 Lifetime Portfolio (JLKYX). 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.

	FAFFX	JLKYX	Difference
Sharpe ratio: Return per unit of total volatility	1.82	1.96	-0.14
Sortino ratio: Return per unit of downside risk	2.52	2.67	-0.15
Omega ratio: Gain probability vs. loss probability	1.34	1.36	-0.02
Calmar ratio: Return relative to maximum drawdown	2.53	2.76	-0.23
Martin ratio: Return relative to average drawdown	10.80	11.91	-1.11

FAFFX vs. JLKYX - Sharpe Ratio Comparison

The current FAFFX Sharpe Ratio is 1.82, which is comparable to the JLKYX Sharpe Ratio of 1.96. The chart below compares the historical Sharpe Ratios of FAFFX and JLKYX, 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

FAFFX vs. JLKYX - Drawdown Comparison

The maximum FAFFX drawdown since its inception was -56.14%, which is greater than JLKYX's maximum drawdown of -32.55%. Use the drawdown chart below to compare losses from any high point for FAFFX and JLKYX.

Drawdown Indicators

	FAFFX	JLKYX	Difference
Max Drawdown Largest peak-to-trough decline	-56.14%	-32.55%	-23.59%
Max Drawdown (1Y) Largest decline over 1 year	-8.87%	-9.16%	+0.29%
Max Drawdown (3Y) Largest decline over 3 years	-13.90%	-16.11%	+2.21%
Max Drawdown (5Y) Largest decline over 5 years	-27.41%	-25.75%	-1.66%
Max Drawdown (10Y) Largest decline over 10 years	-31.28%	-32.55%	+1.27%
Current Drawdown Current decline from peak	-2.12%	-2.31%	+0.19%
Average Drawdown Average peak-to-trough decline	-7.79%	-4.64%	-3.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.07%	2.11%	-0.04%

Volatility

FAFFX vs. JLKYX - Volatility Comparison

Fidelity Advisor Freedom 2040 Fund Class A (FAFFX) and John Hancock Funds Multi-Index 2055 Lifetime Portfolio (JLKYX) have volatilities of 5.36% and 5.37%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FAFFX	JLKYX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.36%	5.37%	-0.01%
Volatility (6M) Calculated over the trailing 6-month period	10.52%	10.70%	-0.18%
Volatility (1Y) Calculated over the trailing 1-year period	12.35%	12.92%	-0.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.48%	15.36%	-0.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.20%	16.21%	-1.01%

FAFFX vs. JLKYX - Expense Ratio Comparison

FAFFX has a 1.00% expense ratio, which is higher than JLKYX's 0.01% expense ratio.

Dividends

FAFFX vs. JLKYX - Dividend Comparison

FAFFX's dividend yield for the trailing twelve months is around 7.83%, more than JLKYX's 3.27% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FAFFX Fidelity Advisor Freedom 2040 Fund Class A	7.83%	7.09%	2.61%	1.16%	10.83%	9.81%	5.79%	6.93%	11.85%	5.16%	4.77%	4.04%
JLKYX John Hancock Funds Multi-Index 2055 Lifetime Portfolio	3.27%	3.61%	1.77%	2.16%	8.08%	5.71%	3.88%	8.54%	10.69%	4.33%	3.23%	1.75%

Frequently Asked Questions

Can I hold both FAFFX and JLKYX in my portfolio?

With a correlation of 0.98, FAFFX and JLKYX 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, FAFFX or JLKYX?

JLKYX has higher volatility (5.37%) compared to FAFFX (5.36%). In terms of maximum drawdown, FAFFX dropped -56.14% vs JLKYX's -32.55%.

Which has better risk-adjusted returns?

JLKYX currently has the higher Sharpe Ratio (1.96 vs 1.82), 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.