FCLSX vs. SVOL

Last updated Apr 1, 2026

Compare and contrast key facts about Fidelity Flex Freedom Blend 2040 Fund (FCLSX) and Simplify Volatility Premium ETF (SVOL).

FCLSX is managed by Fidelity. It was launched on Jun 8, 2017. SVOL is an actively managed fund by Simplify. It was launched on May 12, 2021.

Performance

FCLSX vs. SVOL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Flex Freedom Blend 2040 Fund (FCLSX) and Simplify Volatility Premium ETF (SVOL). The values are adjusted to include any dividend payments, if applicable.

FCLSX vs. SVOL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
FCLSX Fidelity Flex Freedom Blend 2040 Fund	-3.00%	21.45%	18.16%	20.51%	-17.74%	8.70%
SVOL Simplify Volatility Premium ETF	-7.92%	2.41%	6.77%	22.88%	-3.30%	12.25%

Returns By Period

In the year-to-date period, FCLSX achieves a -3.00% return, which is significantly higher than SVOL's -7.92% return.

FCLSX

• 1D: -0.21%
• 1M: -8.19%
• YTD: -3.00%
• 6M: 0.11%
• 1Y: 17.44%
• 3Y*: 16.06%
• 5Y*: 8.92%
• 10Y*: —

SVOL

• 1D: 1.52%
• 1M: -6.10%
• YTD: -7.92%
• 6M: -5.42%
• 1Y: 3.66%
• 3Y*: 6.05%
• 5Y*: —
• 10Y*: —

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

FCLSX vs. SVOL - Expense Ratio Comparison

FCLSX has a 0.00% expense ratio, which is lower than SVOL's 0.50% expense ratio.

SVOL

Simplify Volatility Premium ETF

FCLSX

Fidelity Flex Freedom Blend 2040 Fund

Return for Risk

FCLSX vs. SVOL — Risk / Return Rank

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

FCLSX

FCLSX Risk / Return Rank: 68
FCLSX Sharpe Ratio Rank: 69
FCLSX Sortino Ratio Rank: 70
FCLSX Omega Ratio Rank: 70
FCLSX Calmar Ratio Rank: 62
FCLSX Martin Ratio Rank: 70

SVOL

SVOL Risk / Return Rank: 17
SVOL Sharpe Ratio Rank: 15
SVOL Sortino Ratio Rank: 19
SVOL Omega Ratio Rank: 20
SVOL Calmar Ratio Rank: 16
SVOL Martin Ratio Rank: 17

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.

FCLSX vs. SVOL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Flex Freedom Blend 2040 Fund (FCLSX) and Simplify Volatility Premium ETF (SVOL). 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.

	FCLSX	SVOL	Difference
Sharpe ratio Return per unit of total volatility	1.20	0.09	+1.11
Sortino ratio Return per unit of downside risk	1.73	0.45	+1.28
Omega ratio Gain probability vs. loss probability	1.26	1.06	+0.20
Calmar ratio Return relative to maximum drawdown	1.43	0.17	+1.26
Martin ratio Return relative to average drawdown	6.67	0.57	+6.10
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FCLSX vs. SVOL - Sharpe Ratio Comparison

The current FCLSX Sharpe Ratio is 1.20, which is higher than the SVOL Sharpe Ratio of 0.09. The chart below compares the historical Sharpe Ratios of FCLSX and SVOL, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FCLSX	SVOL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.20	0.09	+1.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.62	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.68	0.28	+0.39

Correlation

The correlation between FCLSX and SVOL is 0.71, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

FCLSX vs. SVOL - Dividend Comparison

FCLSX's dividend yield for the trailing twelve months is around 5.07%, less than SVOL's 23.14% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FCLSX Fidelity Flex Freedom Blend 2040 Fund	5.07%	4.92%	9.06%	2.19%	6.31%	7.13%	5.73%	6.99%	8.18%	3.09%
SVOL Simplify Volatility Premium ETF	23.14%	19.82%	16.79%	16.36%	18.32%	4.65%	0.00%	0.00%	0.00%	0.00%

Drawdowns

FCLSX vs. SVOL - Drawdown Comparison

The maximum FCLSX drawdown since its inception was -31.26%, smaller than the maximum SVOL drawdown of -33.50%. Use the drawdown chart below to compare losses from any high point for FCLSX and SVOL.

Drawdown Indicators

	FCLSX	SVOL	Difference
Max Drawdown Largest peak-to-trough decline	-31.26%	-33.50%	+2.24%
Max Drawdown (1Y) Largest decline over 1 year	-10.56%	-24.73%	+14.17%
Max Drawdown (5Y) Largest decline over 5 years	-27.30%	—	—
Current Drawdown Current decline from peak	-8.60%	-10.30%	+1.70%
Average Drawdown Average peak-to-trough decline	-5.40%	-4.74%	-0.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.34%	7.46%	-5.12%

Volatility

FCLSX vs. SVOL - Volatility Comparison

Fidelity Flex Freedom Blend 2040 Fund (FCLSX) has a higher volatility of 4.98% compared to Simplify Volatility Premium ETF (SVOL) at 4.34%. This indicates that FCLSX's price experiences larger fluctuations and is considered to be riskier than SVOL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCLSX	SVOL	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.98%	4.34%	+0.64%
Volatility (6M) Calculated over the trailing 6-month period	8.43%	13.82%	-5.39%
Volatility (1Y) Calculated over the trailing 1-year period	14.57%	38.84%	-24.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.41%	22.28%	-7.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.77%	22.28%	-6.51%