FBGLX vs. FRBEX

Last updated Jul 18, 2026

FBGLX (Fidelity Advisor Freedom 2055 Fund Class Z6) and FRBEX (Fidelity Freedom 2070 Fund Class K) are both Target Retirement Date funds from Fidelity. Over the past year, FBGLX returned 21.69% vs 23.98% for FRBEX. With a 0.98 correlation, they move nearly in lockstep. FBGLX charges 0.50%/yr vs 0.65%/yr for FRBEX.

Performance

FBGLX vs. FRBEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Freedom 2055 Fund Class Z6 (FBGLX) and Fidelity Freedom 2070 Fund Class K (FRBEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FBGLX achieves a 11.52% return, which is significantly lower than FRBEX's 12.72% return.

FBGLX

• 1D: -0.90%
• 1M: -0.43%
• 6M: 8.20%
• YTD: 11.52%
• 1Y: 21.69%
• 3Y*: 18.12%
• 5Y*: 9.98%
• 10Y*: —

FRBEX

• 1D: -0.88%
• 1M: -0.44%
• 6M: 9.26%
• YTD: 12.72%
• 1Y: 23.98%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FBGLX vs. FRBEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FBGLX Fidelity Advisor Freedom 2055 Fund Class Z6	11.52%	23.38%	3.16%
FRBEX Fidelity Freedom 2070 Fund Class K	12.72%	23.38%	3.52%

Correlation

The correlation between FBGLX and FRBEX is 1.00 - 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	1.00
Correlation (All Time) Calculated using the full available price history since Jul 3, 2024	0.98

The correlation between FBGLX and FRBEX has been stable across timeframes, ranging from 0.98 to 1.00 - a consistent structural relationship.

Return for Risk

FBGLX vs. FRBEX — Risk / Return Rank

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

FBGLX

FBGLX Risk / Return Rank: 51
FBGLX Sharpe Ratio Rank: 48
FBGLX Sortino Ratio Rank: 45
FBGLX Omega Ratio Rank: 48
FBGLX Calmar Ratio Rank: 52
FBGLX Martin Ratio Rank: 62

FRBEX

FRBEX Risk / Return Rank: 63
FRBEX Sharpe Ratio Rank: 60
FRBEX Sortino Ratio Rank: 56
FRBEX Omega Ratio Rank: 59
FRBEX Calmar Ratio Rank: 65
FRBEX Martin Ratio Rank: 74

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.

FBGLX vs. FRBEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Freedom 2055 Fund Class Z6 (FBGLX) and Fidelity Freedom 2070 Fund Class K (FRBEX). 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.

	FBGLX	FRBEX	Difference
Sharpe ratio: Return per unit of total volatility	1.60	1.76	-0.16
Sortino ratio: Return per unit of downside risk	2.22	2.44	-0.22
Omega ratio: Gain probability vs. loss probability	1.29	1.33	-0.03
Calmar ratio: Return relative to maximum drawdown	2.29	2.55	-0.26
Martin ratio: Return relative to average drawdown	9.74	10.93	-1.19

FBGLX vs. FRBEX - Sharpe Ratio Comparison

The current FBGLX Sharpe Ratio is 1.60, which is comparable to the FRBEX Sharpe Ratio of 1.76. The chart below compares the historical Sharpe Ratios of FBGLX and FRBEX, 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

FBGLX vs. FRBEX - Drawdown Comparison

The maximum FBGLX drawdown since its inception was -31.28%, which is greater than FRBEX's maximum drawdown of -15.31%. Use the drawdown chart below to compare losses from any high point for FBGLX and FRBEX.

Drawdown Indicators

	FBGLX	FRBEX	Difference
Max Drawdown Largest peak-to-trough decline	-31.28%	-15.31%	-15.97%
Max Drawdown (1Y) Largest decline over 1 year	-9.88%	-9.79%	-0.09%
Max Drawdown (3Y) Largest decline over 3 years	-15.04%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-27.11%	—	—
Current Drawdown Current decline from peak	-1.83%	-1.88%	+0.05%
Average Drawdown Average peak-to-trough decline	-5.40%	-1.76%	-3.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.31%	2.28%	+0.03%

Volatility

FBGLX vs. FRBEX - Volatility Comparison

Fidelity Advisor Freedom 2055 Fund Class Z6 (FBGLX) and Fidelity Freedom 2070 Fund Class K (FRBEX) have volatilities of 4.40% and 4.37%, 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

	FBGLX	FRBEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.40%	4.37%	+0.03%
Volatility (6M) Calculated over the trailing 6-month period	12.19%	12.17%	+0.02%
Volatility (1Y) Calculated over the trailing 1-year period	14.14%	14.15%	-0.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.21%	16.04%	-0.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.08%	16.04%	+0.04%

FBGLX vs. FRBEX - Expense Ratio Comparison

FBGLX has a 0.50% expense ratio, which is lower than FRBEX's 0.65% expense ratio.

Dividends

FBGLX vs. FRBEX - Dividend Comparison

FBGLX's dividend yield for the trailing twelve months is around 6.46%, more than FRBEX's 4.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FBGLX Fidelity Advisor Freedom 2055 Fund Class Z6	6.46%	5.51%	1.77%	1.99%	11.09%	9.48%	5.16%	6.86%	10.56%	2.74%
FRBEX Fidelity Freedom 2070 Fund Class K	4.15%	2.38%	2.40%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FBGLX and FRBEX in my portfolio?

With a correlation of 1.00, FBGLX and FRBEX 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, FBGLX or FRBEX?

FBGLX has higher volatility (4.40%) compared to FRBEX (4.37%). In terms of maximum drawdown, FBGLX dropped -31.28% vs FRBEX's -15.31%.

Which has better risk-adjusted returns?

FRBEX currently has the higher Sharpe Ratio (1.76 vs 1.60), 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.