FCGLX vs. FFFFX

Last updated Jun 6, 2026

FCGLX (Fidelity Advisor Freedom 2045 Fund Class Z6) and FFFFX (Fidelity Freedom 2040 Fund) are both Target Retirement Date funds from Fidelity. Over the past 5 years, FCGLX returned 9.84%/yr vs 9.33%/yr for FFFFX. With a 1.00 correlation, they move nearly in lockstep. FCGLX charges 0.50%/yr vs 0.75%/yr for FFFFX.

Performance

FCGLX vs. FFFFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Freedom 2045 Fund Class Z6 (FCGLX) and Fidelity Freedom 2040 Fund (FFFFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with FCGLX having a 12.22% return and FFFFX slightly lower at 11.98%.

FCGLX

• 1D: 0.42%
• 1M: 1.38%
• YTD: 12.22%
• 6M: 13.50%
• 1Y: 27.59%
• 3Y*: 20.18%
• 5Y*: 9.84%
• 10Y*: —

FFFFX

• 1D: 0.35%
• 1M: 1.51%
• YTD: 11.98%
• 6M: 13.26%
• 1Y: 27.32%
• 3Y*: 19.20%
• 5Y*: 9.33%
• 10Y*: 11.89%

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

FCGLX vs. FFFFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FCGLX Fidelity Advisor Freedom 2045 Fund Class Z6	12.22%	23.32%	13.97%	19.59%	-17.89%	16.33%	17.80%	26.90%	-7.96%	9.42%
FFFFX Fidelity Freedom 2040 Fund	11.98%	22.01%	13.20%	20.06%	-18.31%	16.57%	18.24%	25.38%	-8.94%	10.31%

Correlation

The correlation between FCGLX and FFFFX 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 (3Y) Calculated over the trailing 3-year period	0.99
Correlation (5Y) Calculated over the trailing 5-year period	1.00
Correlation (All Time) Calculated using the full available price history since Jun 16, 2017	1.00

The correlation between FCGLX and FFFFX has been stable across timeframes, ranging from 0.99 to 1.00 - a consistent structural relationship.

Return for Risk

FCGLX vs. FFFFX — Risk / Return Rank

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

FCGLX

FCGLX Risk / Return Rank: 61
FCGLX Sharpe Ratio Rank: 61
FCGLX Sortino Ratio Rank: 57
FCGLX Omega Ratio Rank: 60
FCGLX Calmar Ratio Rank: 61
FCGLX Martin Ratio Rank: 68

FFFFX

FFFFX Risk / Return Rank: 72
FFFFX Sharpe Ratio Rank: 72
FFFFX Sortino Ratio Rank: 68
FFFFX Omega Ratio Rank: 70
FFFFX Calmar Ratio Rank: 72
FFFFX Martin Ratio Rank: 77

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.

FCGLX vs. FFFFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Freedom 2045 Fund Class Z6 (FCGLX) and Fidelity Freedom 2040 Fund (FFFFX). 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.

	FCGLX	FFFFX	Difference
Sharpe ratio: Return per unit of total volatility	2.23	2.41	-0.18
Sortino ratio: Return per unit of downside risk	3.09	3.34	-0.25
Omega ratio: Gain probability vs. loss probability	1.41	1.45	-0.04
Calmar ratio: Return relative to maximum drawdown	2.91	3.15	-0.24
Martin ratio: Return relative to average drawdown	12.68	13.87	-1.19
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FCGLX vs. FFFFX - Sharpe Ratio Comparison

The current FCGLX Sharpe Ratio is 2.23, which is comparable to the FFFFX Sharpe Ratio of 2.41. The chart below compares the historical Sharpe Ratios of FCGLX and FFFFX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FCGLX	FFFFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.23	2.41	-0.18
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.66	0.65	+0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.79	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.74	0.38	+0.35

Drawdowns

FCGLX vs. FFFFX - Drawdown Comparison

The maximum FCGLX drawdown since its inception was -31.21%, smaller than the maximum FFFFX drawdown of -54.10%. Use the drawdown chart below to compare losses from any high point for FCGLX and FFFFX.

Drawdown Indicators

	FCGLX	FFFFX	Difference
Max Drawdown Largest peak-to-trough decline	-31.21%	-54.10%	+22.89%
Max Drawdown (1Y) Largest decline over 1 year	-9.61%	-8.71%	-0.90%
Max Drawdown (3Y) Largest decline over 3 years	-15.03%	-14.08%	-0.95%
Max Drawdown (5Y) Largest decline over 5 years	-27.13%	-27.21%	+0.08%
Max Drawdown (10Y) Largest decline over 10 years	—	-30.93%	—
Current Drawdown Current decline from peak	-0.18%	-0.14%	-0.04%
Average Drawdown Average peak-to-trough decline	-5.45%	-11.14%	+5.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.19%	1.98%	+0.21%

Volatility

FCGLX vs. FFFFX - Volatility Comparison

Fidelity Advisor Freedom 2045 Fund Class Z6 (FCGLX) has a higher volatility of 4.10% compared to Fidelity Freedom 2040 Fund (FFFFX) at 3.71%. This indicates that FCGLX's price experiences larger fluctuations and is considered to be riskier than FFFFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCGLX	FFFFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.10%	3.71%	+0.39%
Volatility (6M) Calculated over the trailing 6-month period	10.28%	9.36%	+0.92%
Volatility (1Y) Calculated over the trailing 1-year period	12.55%	11.40%	+1.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.95%	14.37%	+0.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.02%	15.07%	+0.95%

FCGLX vs. FFFFX - Expense Ratio Comparison

FCGLX has a 0.50% expense ratio, which is lower than FFFFX's 0.75% expense ratio.

Dividends

FCGLX vs. FFFFX - Dividend Comparison

FCGLX's dividend yield for the trailing twelve months is around 7.28%, more than FFFFX's 6.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FCGLX Fidelity Advisor Freedom 2045 Fund Class Z6	7.28%	6.53%	1.92%	1.75%	11.04%	9.87%	5.57%	7.30%	12.13%	3.56%	0.00%	0.00%
FFFFX Fidelity Freedom 2040 Fund	6.36%	5.07%	2.63%	1.72%	12.33%	12.09%	5.67%	6.69%	7.97%	4.37%	4.05%	4.81%

Frequently Asked Questions

Can I hold both FCGLX and FFFFX in my portfolio?

With a correlation of 1.00, FCGLX and FFFFX 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, FCGLX or FFFFX?

FCGLX has higher volatility (4.10%) compared to FFFFX (3.71%). In terms of maximum drawdown, FCGLX dropped -31.21% vs FFFFX's -54.10%.

Which has better risk-adjusted returns?

FFFFX currently has the higher Sharpe Ratio (2.41 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.