FBIFX vs. FSKAX
FBIFX (Fidelity Freedom Index 2040 Fund Investor Class) and FSKAX (Fidelity Total Market Index Fund) are both mutual funds - FBIFX is a Target Retirement Date fund managed by Fidelity, while FSKAX is a Large Cap Blend Equities fund managed by Fidelity. Over the past 10 years, FBIFX returned 11.48%/yr vs 15.09%/yr for FSKAX. With a 0.96 correlation, they move nearly in lockstep. FBIFX charges 0.12%/yr vs 0.01%/yr for FSKAX.
Performance
FBIFX vs. FSKAX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, FBIFX achieves a 10.96% return, which is significantly lower than FSKAX's 12.08% return. Over the past 10 years, FBIFX has underperformed FSKAX with an annualized return of 11.48%, while FSKAX has yielded a comparatively higher 15.09% annualized return.
FBIFX
- 1D
- 0.38%
- 1M
- 4.89%
- YTD
- 10.96%
- 6M
- 11.69%
- 1Y
- 25.65%
- 3Y*
- 18.07%
- 5Y*
- 9.25%
- 10Y*
- 11.48%
FSKAX
- 1D
- 0.24%
- 1M
- 5.80%
- YTD
- 12.08%
- 6M
- 11.98%
- 1Y
- 29.13%
- 3Y*
- 22.42%
- 5Y*
- 13.08%
- 10Y*
- 15.09%
FBIFX vs. FSKAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FBIFX Fidelity Freedom Index 2040 Fund Investor Class | 10.96% | 19.88% | 13.32% | 19.37% | -18.16% | 15.88% | 16.47% | 25.95% | -7.24% | 20.58% |
FSKAX Fidelity Total Market Index Fund | 12.08% | 17.06% | 23.89% | 26.12% | -19.53% | 25.66% | 20.79% | 30.92% | -5.32% | 20.85% |
Correlation
The correlation between FBIFX and FSKAX 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 | 0.95 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Sep 9, 2011 | 0.96 |
The correlation between FBIFX and FSKAX has been stable across timeframes, ranging from 0.95 to 0.96 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
FBIFX vs. FSKAX — Risk / Return Rank
FBIFX
FSKAX
FBIFX vs. FSKAX - 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 Total Market Index Fund (FSKAX). 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.
| FBIFX | FSKAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.03 | ||
| Sortino ratioReturn per unit of downside risk | +0.13 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.44 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 3.21 | 3.38 | -0.17 |
| Martin ratioReturn relative to average drawdown | 14.06 | 15.52 | -1.46 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| FBIFX | FSKAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.49 | 2.46 | +0.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.67 | 0.76 | -0.08 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.77 | 0.82 | -0.05 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.72 | 0.85 | -0.13 |
Drawdowns
FBIFX vs. FSKAX - Drawdown Comparison
The maximum FBIFX drawdown since its inception was -30.73%, smaller than the maximum FSKAX drawdown of -35.01%. Use the drawdown chart below to compare losses from any high point for FBIFX and FSKAX.
Loading charts...
Drawdown Indicators
| FBIFX | FSKAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.73% | -35.01% | +4.28% |
Max Drawdown (1Y)Largest decline over 1 year | -8.10% | -8.92% | +0.82% |
Max Drawdown (3Y)Largest decline over 3 years | -13.45% | -19.43% | +5.98% |
Max Drawdown (5Y)Largest decline over 5 years | -26.12% | -25.39% | -0.73% |
Max Drawdown (10Y)Largest decline over 10 years | -30.73% | -35.01% | +4.28% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -4.11% | -4.02% | -0.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.85% | 1.94% | -0.09% |
Volatility
FBIFX vs. FSKAX - Volatility Comparison
Fidelity Freedom Index 2040 Fund Investor Class (FBIFX) has a higher volatility of 3.19% compared to Fidelity Total Market Index Fund (FSKAX) at 2.97%. This indicates that FBIFX's price experiences larger fluctuations and is considered to be riskier than FSKAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| FBIFX | FSKAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.19% | 2.97% | +0.22% |
Volatility (6M)Calculated over the trailing 6-month period | 8.39% | 9.23% | -0.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.43% | 12.26% | -1.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.78% | 17.41% | -3.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.88% | 18.46% | -3.58% |
FBIFX vs. FSKAX - Expense Ratio Comparison
FBIFX has a 0.12% expense ratio, which is higher than FSKAX's 0.02% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
FBIFX vs. FSKAX - Dividend Comparison
FBIFX's dividend yield for the trailing twelve months is around 2.21%, more than FSKAX's 0.93% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FBIFX Fidelity Freedom Index 2040 Fund Investor Class | 2.21% | 2.35% | 2.20% | 1.97% | 2.08% | 1.96% | 2.00% | 18.26% | 2.22% | 1.82% | 1.98% | 2.02% |
FSKAX Fidelity Total Market Index Fund | 0.93% | 1.01% | 1.19% | 1.41% | 1.62% | 1.15% | 1.45% | 1.94% | 2.54% | 2.07% | 2.43% | 0.82% |
Frequently Asked Questions
With a correlation of 0.95, FBIFX and FSKAX 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.
FBIFX has higher volatility (3.19%) compared to FSKAX (2.97%). In terms of maximum drawdown, FBIFX dropped -30.73% vs FSKAX's -35.01%.
FBIFX currently has the higher Sharpe Ratio (2.49 vs 2.46), 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.
Find the right allocation for FBIFX and FSKAX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer