FCQTX vs. FATKX

Last updated Jun 25, 2026

FCQTX (American Funds 2065 Target Date Retirement Fund) and FATKX (Fidelity Freedom 2020 Fund Class K6) are both Target Retirement Date funds. Over the past 5 years, FCQTX returned 9.49%/yr vs 5.81%/yr for FATKX. Their correlation of 0.91 suggests significant overlap in exposure. FCQTX charges 0.01%/yr vs 0.42%/yr for FATKX.

Performance

FCQTX vs. FATKX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Funds 2065 Target Date Retirement Fund (FCQTX) and Fidelity Freedom 2020 Fund Class K6 (FATKX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FCQTX achieves a 9.22% return, which is significantly higher than FATKX's 6.23% return.

FCQTX

• 1D: -1.65%
• 1M: 0.64%
• YTD: 9.22%
• 6M: 8.46%
• 1Y: 21.26%
• 3Y*: 18.82%
• 5Y*: 9.49%
• 10Y*: —

FATKX

• 1D: -1.07%
• 1M: 0.58%
• YTD: 6.23%
• 6M: 5.88%
• 1Y: 14.48%
• 3Y*: 13.11%
• 5Y*: 5.81%
• 10Y*: —

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

FCQTX vs. FATKX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
FCQTX American Funds 2065 Target Date Retirement Fund	9.22%	20.74%	15.64%	21.56%	-19.63%	17.34%	47.06%
FATKX Fidelity Freedom 2020 Fund Class K6	6.23%	15.14%	11.68%	13.16%	-15.93%	9.13%	28.87%

Correlation

The correlation between FCQTX and FATKX is 0.93, 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	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (All Time) Calculated using the full available price history since Mar 27, 2020	0.91

The correlation between FCQTX and FATKX has been stable across timeframes, ranging from 0.88 to 0.93 - a consistent structural relationship.

Return for Risk

FCQTX vs. FATKX — Risk / Return Rank

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

FCQTX

FCQTX Risk / Return Rank: 48
FCQTX Sharpe Ratio Rank: 46
FCQTX Sortino Ratio Rank: 44
FCQTX Omega Ratio Rank: 47
FCQTX Calmar Ratio Rank: 44
FCQTX Martin Ratio Rank: 57

FATKX

FATKX Risk / Return Rank: 66
FATKX Sharpe Ratio Rank: 63
FATKX Sortino Ratio Rank: 63
FATKX Omega Ratio Rank: 68
FATKX Calmar Ratio Rank: 65
FATKX Martin Ratio Rank: 71

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.

FCQTX vs. FATKX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Funds 2065 Target Date Retirement Fund (FCQTX) and Fidelity Freedom 2020 Fund Class K6 (FATKX). 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.

	FCQTX	FATKX	Difference
Sharpe ratio: Return per unit of total volatility	1.78	2.05	-0.27
Sortino ratio: Return per unit of downside risk	2.49	2.91	-0.42
Omega ratio: Gain probability vs. loss probability	1.33	1.40	-0.07
Calmar ratio: Return relative to maximum drawdown	2.35	2.84	-0.49
Martin ratio: Return relative to average drawdown	10.44	12.15	-1.71

FCQTX vs. FATKX - Sharpe Ratio Comparison

The current FCQTX Sharpe Ratio is 1.78, which is comparable to the FATKX Sharpe Ratio of 2.05. The chart below compares the historical Sharpe Ratios of FCQTX and FATKX, 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

FCQTX vs. FATKX - Drawdown Comparison

The maximum FCQTX drawdown since its inception was -27.34%, which is greater than FATKX's maximum drawdown of -22.44%. Use the drawdown chart below to compare losses from any high point for FCQTX and FATKX.

Drawdown Indicators

	FCQTX	FATKX	Difference
Max Drawdown Largest peak-to-trough decline	-27.34%	-22.44%	-4.90%
Max Drawdown (1Y) Largest decline over 1 year	-9.83%	-5.48%	-4.35%
Max Drawdown (3Y) Largest decline over 3 years	-15.53%	-7.64%	-7.89%
Max Drawdown (5Y) Largest decline over 5 years	-27.34%	-22.44%	-4.90%
Current Drawdown Current decline from peak	-1.83%	-1.38%	-0.45%
Average Drawdown Average peak-to-trough decline	-5.84%	-4.35%	-1.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.21%	1.27%	+0.94%

Volatility

FCQTX vs. FATKX - Volatility Comparison

American Funds 2065 Target Date Retirement Fund (FCQTX) has a higher volatility of 5.42% compared to Fidelity Freedom 2020 Fund Class K6 (FATKX) at 3.36%. This indicates that FCQTX's price experiences larger fluctuations and is considered to be riskier than FATKX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCQTX	FATKX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.42%	3.36%	+2.06%
Volatility (6M) Calculated over the trailing 6-month period	10.71%	6.50%	+4.21%
Volatility (1Y) Calculated over the trailing 1-year period	12.96%	7.58%	+5.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.88%	9.11%	+5.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.12%	9.31%	+5.81%

FCQTX vs. FATKX - Expense Ratio Comparison

FCQTX has a 0.01% expense ratio, which is lower than FATKX's 0.42% expense ratio.

Dividends

FCQTX vs. FATKX - Dividend Comparison

FCQTX's dividend yield for the trailing twelve months is around 4.27%, less than FATKX's 7.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FATKX Fidelity Freedom 2020 Fund Class K6	7.98%	7.70%	8.73%	2.94%	10.06%	12.30%	6.93%	6.79%	7.43%	3.18%
FCQTX American Funds 2065 Target Date Retirement Fund	4.27%	4.67%	2.80%	1.99%	3.96%	1.54%	0.72%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FCQTX and FATKX in my portfolio?

With a correlation of 0.93, FCQTX and FATKX 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, FCQTX or FATKX?

FCQTX has higher volatility (5.42%) compared to FATKX (3.36%). In terms of maximum drawdown, FCQTX dropped -27.34% vs FATKX's -22.44%.

Which has better risk-adjusted returns?

FATKX currently has the higher Sharpe Ratio (2.05 vs 1.78), 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.