FBIFX vs. FDGRX

Last updated Jun 18, 2026

FBIFX (Fidelity Freedom Index 2040 Fund Investor Class) and FDGRX (Fidelity Growth Company Fund) are both mutual funds - FBIFX is a Target Retirement Date fund managed by Fidelity, while FDGRX is a Large Cap Growth Equities fund actively managed by Fidelity. Over the past 10 years, FBIFX returned 11.59%/yr vs 23.23%/yr for FDGRX. Their correlation of 0.86 suggests significant overlap in exposure. FBIFX charges 0.12%/yr vs 0.52%/yr for FDGRX.

Performance

FBIFX vs. FDGRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Freedom Index 2040 Fund Investor Class (FBIFX) and Fidelity Growth Company Fund (FDGRX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FBIFX achieves a 10.23% return, which is significantly lower than FDGRX's 22.31% return. Over the past 10 years, FBIFX has underperformed FDGRX with an annualized return of 11.59%, while FDGRX has yielded a comparatively higher 23.23% annualized return.

FBIFX

• 1D: -0.38%
• 1M: 2.72%
• YTD: 10.23%
• 6M: 12.11%
• 1Y: 24.40%
• 3Y*: 16.75%
• 5Y*: 9.00%
• 10Y*: 11.59%

FDGRX

• 1D: -1.17%
• 1M: 3.47%
• YTD: 22.31%
• 6M: 20.57%
• 1Y: 46.04%
• 3Y*: 29.83%
• 5Y*: 16.15%
• 10Y*: 23.23%

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

FBIFX vs. FDGRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FBIFX Fidelity Freedom Index 2040 Fund Investor Class	10.23%	19.88%	13.32%	19.37%	-18.16%	15.88%	16.47%	25.95%	-7.24%	20.58%
FDGRX Fidelity Growth Company Fund	22.31%	18.54%	37.18%	47.25%	-33.86%	22.57%	67.42%	38.40%	-4.14%	36.76%

Correlation

The correlation between FBIFX and FDGRX is 0.84, 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	0.84
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (10Y) Calculated over the trailing 10-year period	0.85
Correlation (All Time) Calculated using the full available price history since Oct 5, 2009	0.86

The correlation between FBIFX and FDGRX has been stable across timeframes, ranging from 0.84 to 0.87 - a consistent structural relationship.

Return for Risk

FBIFX vs. FDGRX — Risk / Return Rank

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

FBIFX

FBIFX Risk / Return Rank: 60
FBIFX Sharpe Ratio Rank: 59
FBIFX Sortino Ratio Rank: 57
FBIFX Omega Ratio Rank: 58
FBIFX Calmar Ratio Rank: 61
FBIFX Martin Ratio Rank: 67

FDGRX

FDGRX Risk / Return Rank: 68
FDGRX Sharpe Ratio Rank: 74
FDGRX Sortino Ratio Rank: 54
FDGRX Omega Ratio Rank: 59
FDGRX Calmar Ratio Rank: 81
FDGRX Martin Ratio Rank: 73

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.

FBIFX vs. FDGRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Freedom Index 2040 Fund Investor Class (FBIFX) and Fidelity Growth Company Fund (FDGRX). 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.

	FBIFX	FDGRX	Difference
Sharpe ratio: Return per unit of total volatility	2.13	2.34	-0.20
Sortino ratio: Return per unit of downside risk	2.95	2.90	+0.05
Omega ratio: Gain probability vs. loss probability	1.40	1.40	0.00
Calmar ratio: Return relative to maximum drawdown	2.91	3.60	-0.69
Martin ratio: Return relative to average drawdown	12.44	13.24	-0.79

FBIFX vs. FDGRX - Sharpe Ratio Comparison

The current FBIFX Sharpe Ratio is 2.13, which is comparable to the FDGRX Sharpe Ratio of 2.34. The chart below compares the historical Sharpe Ratios of FBIFX and FDGRX, 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

FBIFX vs. FDGRX - Drawdown Comparison

The maximum FBIFX drawdown since its inception was -30.73%, smaller than the maximum FDGRX drawdown of -71.62%. Use the drawdown chart below to compare losses from any high point for FBIFX and FDGRX.

Drawdown Indicators

	FBIFX	FDGRX	Difference
Max Drawdown Largest peak-to-trough decline	-30.73%	-71.62%	+40.89%
Max Drawdown (1Y) Largest decline over 1 year	-8.10%	-12.60%	+4.50%
Max Drawdown (3Y) Largest decline over 3 years	-13.45%	-26.19%	+12.74%
Max Drawdown (5Y) Largest decline over 5 years	-26.12%	-40.25%	+14.13%
Max Drawdown (10Y) Largest decline over 10 years	-30.73%	-40.25%	+9.52%
Current Drawdown Current decline from peak	-0.66%	-1.17%	+0.51%
Average Drawdown Average peak-to-trough decline	-4.11%	-15.89%	+11.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.89%	3.42%	-1.53%

Volatility

FBIFX vs. FDGRX - Volatility Comparison

The current volatility for Fidelity Freedom Index 2040 Fund Investor Class (FBIFX) is 4.41%, while Fidelity Growth Company Fund (FDGRX) has a volatility of 7.29%. This indicates that FBIFX experiences smaller price fluctuations and is considered to be less risky than FDGRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FBIFX	FDGRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.41%	7.29%	-2.88%
Volatility (6M) Calculated over the trailing 6-month period	9.18%	15.82%	-6.64%
Volatility (1Y) Calculated over the trailing 1-year period	11.07%	19.47%	-8.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.88%	24.09%	-10.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.92%	23.47%	-8.55%

FBIFX vs. FDGRX - Expense Ratio Comparison

FBIFX has a 0.12% expense ratio, which is lower than FDGRX's 0.52% expense ratio.

Dividends

FBIFX vs. FDGRX - Dividend Comparison

FBIFX's dividend yield for the trailing twelve months is around 2.22%, while FDGRX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FBIFX Fidelity Freedom Index 2040 Fund Investor Class	2.22%	2.35%	2.20%	1.97%	2.08%	1.96%	2.00%	18.26%	2.22%	1.82%	1.98%	2.02%
FDGRX Fidelity Growth Company Fund	0.00%	0.00%	8.86%	3.83%	7.20%	10.67%	8.86%	3.84%	6.38%	4.73%	6.16%	3.92%

Frequently Asked Questions

Can I hold both FBIFX and FDGRX in my portfolio?

FBIFX and FDGRX have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FBIFX or FDGRX?

FDGRX has higher volatility (7.29%) compared to FBIFX (4.41%). In terms of maximum drawdown, FBIFX dropped -30.73% vs FDGRX's -71.62%.

Which has better risk-adjusted returns?

FDGRX currently has the higher Sharpe Ratio (2.34 vs 2.13), 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.