FATKX vs. FIOFX

Last updated Jun 23, 2026

FATKX (Fidelity Freedom 2020 Fund Class K6) and FIOFX (Fidelity Freedom Index 2045 Fund Investor Class) are both Target Retirement Date funds from Fidelity. Over the past 5 years, FATKX returned 6.33%/yr vs 10.07%/yr for FIOFX. With a 0.95 correlation, they move nearly in lockstep. FATKX charges 0.42%/yr vs 0.12%/yr for FIOFX.

Performance

FATKX vs. FIOFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Freedom 2020 Fund Class K6 (FATKX) and Fidelity Freedom Index 2045 Fund Investor Class (FIOFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FATKX achieves a 7.72% return, which is significantly lower than FIOFX's 11.68% return.

FATKX

• 1D: 0.88%
• 1M: 1.98%
• YTD: 7.72%
• 6M: 7.82%
• 1Y: 17.50%
• 3Y*: 13.22%
• 5Y*: 6.33%
• 10Y*: —

FIOFX

• 1D: 1.18%
• 1M: 1.90%
• YTD: 11.68%
• 6M: 11.58%
• 1Y: 27.60%
• 3Y*: 18.09%
• 5Y*: 10.07%
• 10Y*: 11.89%

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

FATKX vs. FIOFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FATKX Fidelity Freedom 2020 Fund Class K6	7.72%	15.14%	11.68%	13.16%	-15.93%	9.13%	13.79%	18.14%	-5.20%	6.72%
FIOFX Fidelity Freedom Index 2045 Fund Investor Class	11.68%	21.40%	14.14%	19.90%	-18.21%	15.95%	16.43%	25.96%	-7.24%	9.61%

Correlation

The correlation between FATKX and FIOFX is 0.95 - 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	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (All Time) Calculated using the full available price history since Jun 15, 2017	0.95

The correlation between FATKX and FIOFX has been stable across timeframes, ranging from 0.92 to 0.95 - a consistent structural relationship.

Return for Risk

FATKX vs. FIOFX — Risk / Return Rank

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

FATKX

FATKX Risk / Return Rank: 76
FATKX Sharpe Ratio Rank: 76
FATKX Sortino Ratio Rank: 76
FATKX Omega Ratio Rank: 78
FATKX Calmar Ratio Rank: 74
FATKX Martin Ratio Rank: 79

FIOFX

FIOFX Risk / Return Rank: 69
FIOFX Sharpe Ratio Rank: 69
FIOFX Sortino Ratio Rank: 64
FIOFX Omega Ratio Rank: 66
FIOFX Calmar Ratio Rank: 70
FIOFX Martin Ratio Rank: 75

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.

FATKX vs. FIOFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Freedom 2020 Fund Class K6 (FATKX) and Fidelity Freedom Index 2045 Fund Investor Class (FIOFX). 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.

	FATKX	FIOFX	Difference
Sharpe ratio: Return per unit of total volatility	2.34	2.23	+0.11
Sortino ratio: Return per unit of downside risk	3.32	3.05	+0.27
Omega ratio: Gain probability vs. loss probability	1.46	1.41	+0.05
Calmar ratio: Return relative to maximum drawdown	3.19	3.07	+0.12
Martin ratio: Return relative to average drawdown	13.71	13.21	+0.50

FATKX vs. FIOFX - Sharpe Ratio Comparison

The current FATKX Sharpe Ratio is 2.34, which is comparable to the FIOFX Sharpe Ratio of 2.23. The chart below compares the historical Sharpe Ratios of FATKX and FIOFX, 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

FATKX vs. FIOFX - Drawdown Comparison

The maximum FATKX drawdown since its inception was -22.44%, smaller than the maximum FIOFX drawdown of -30.72%. Use the drawdown chart below to compare losses from any high point for FATKX and FIOFX.

Drawdown Indicators

	FATKX	FIOFX	Difference
Max Drawdown Largest peak-to-trough decline	-22.44%	-30.72%	+8.28%
Max Drawdown (1Y) Largest decline over 1 year	-5.48%	-8.87%	+3.39%
Max Drawdown (3Y) Largest decline over 3 years	-7.64%	-14.75%	+7.11%
Max Drawdown (5Y) Largest decline over 5 years	-22.44%	-26.22%	+3.78%
Max Drawdown (10Y) Largest decline over 10 years	—	-30.72%	—
Current Drawdown Current decline from peak	0.00%	-0.46%	+0.46%
Average Drawdown Average peak-to-trough decline	-4.36%	-4.14%	-0.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.27%	2.06%	-0.79%

Volatility

FATKX vs. FIOFX - Volatility Comparison

The current volatility for Fidelity Freedom 2020 Fund Class K6 (FATKX) is 3.25%, while Fidelity Freedom Index 2045 Fund Investor Class (FIOFX) has a volatility of 5.00%. This indicates that FATKX experiences smaller price fluctuations and is considered to be less risky than FIOFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FATKX	FIOFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.25%	5.00%	-1.75%
Volatility (6M) Calculated over the trailing 6-month period	6.41%	10.19%	-3.78%
Volatility (1Y) Calculated over the trailing 1-year period	7.49%	12.22%	-4.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.09%	14.49%	-5.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.31%	15.20%	-5.89%

FATKX vs. FIOFX - Expense Ratio Comparison

FATKX has a 0.42% expense ratio, which is higher than FIOFX's 0.12% expense ratio.

Dividends

FATKX vs. FIOFX - Dividend Comparison

FATKX's dividend yield for the trailing twelve months is around 7.87%, more than FIOFX's 1.91% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FATKX Fidelity Freedom 2020 Fund Class K6	7.87%	7.70%	8.73%	2.94%	10.06%	12.30%	6.93%	6.79%	7.43%	3.18%	0.00%	0.00%
FIOFX Fidelity Freedom Index 2045 Fund Investor Class	1.91%	2.03%	2.01%	1.95%	2.03%	1.92%	1.95%	14.88%	2.26%	1.89%	2.00%	2.01%

Frequently Asked Questions

Can I hold both FATKX and FIOFX in my portfolio?

With a correlation of 0.95, FATKX and FIOFX 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, FATKX or FIOFX?

FIOFX has higher volatility (5.00%) compared to FATKX (3.25%). In terms of maximum drawdown, FATKX dropped -22.44% vs FIOFX's -30.72%.

Which has better risk-adjusted returns?

FATKX currently has the higher Sharpe Ratio (2.34 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.