FCQTX vs. FRBVX

Last updated Jun 4, 2026

FCQTX (American Funds 2065 Target Date Retirement Fund) and FRBVX (Fidelity Freedom Index 2070 Fund Investor Class) are both Target Retirement Date funds. Over the past year, FCQTX returned 26.60% vs 28.75% for FRBVX. With a 0.97 correlation, they move nearly in lockstep. FCQTX charges 0.01%/yr vs 0.12%/yr for FRBVX.

Performance

FCQTX vs. FRBVX - 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 Index 2070 Fund Investor Class (FRBVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FCQTX achieves a 11.15% return, which is significantly lower than FRBVX's 12.64% return.

FCQTX

• 1D: 0.22%
• 1M: 4.96%
• YTD: 11.15%
• 6M: 11.88%
• 1Y: 26.60%
• 3Y*: 19.82%
• 5Y*: 10.23%
• 10Y*: —

FRBVX

• 1D: 0.43%
• 1M: 5.62%
• YTD: 12.64%
• 6M: 13.54%
• 1Y: 28.75%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FCQTX vs. FRBVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FCQTX American Funds 2065 Target Date Retirement Fund	11.15%	20.74%	2.87%
FRBVX Fidelity Freedom Index 2070 Fund Investor Class	12.64%	21.43%	1.95%

Correlation

The correlation between FCQTX and FRBVX is 0.97 - 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	0.97
Correlation (All Time) Calculated using the full available price history since Jul 11, 2024	0.97

The correlation between FCQTX and FRBVX has been stable across timeframes, ranging from 0.97 to 0.97 - a consistent structural relationship.

Return for Risk

FCQTX vs. FRBVX — Risk / Return Rank

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

FCQTX

FCQTX Risk / Return Rank: 58
FCQTX Sharpe Ratio Rank: 59
FCQTX Sortino Ratio Rank: 56
FCQTX Omega Ratio Rank: 56
FCQTX Calmar Ratio Rank: 53
FCQTX Martin Ratio Rank: 64

FRBVX

FRBVX Risk / Return Rank: 70
FRBVX Sharpe Ratio Rank: 74
FRBVX Sortino Ratio Rank: 68
FRBVX Omega Ratio Rank: 67
FRBVX Calmar Ratio Rank: 68
FRBVX Martin Ratio Rank: 75

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. FRBVX - 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 Index 2070 Fund Investor Class (FRBVX). 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.

	FCQTX	FRBVX	Difference
Sharpe ratio: Return per unit of total volatility	2.26	2.50	-0.23
Sortino ratio: Return per unit of downside risk	3.16	3.44	-0.28
Omega ratio: Gain probability vs. loss probability	1.42	1.46	-0.04
Calmar ratio: Return relative to maximum drawdown	2.77	3.21	-0.44
Martin ratio: Return relative to average drawdown	12.56	14.23	-1.67
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FCQTX vs. FRBVX - Sharpe Ratio Comparison

The current FCQTX Sharpe Ratio is 2.26, which is comparable to the FRBVX Sharpe Ratio of 2.50. The chart below compares the historical Sharpe Ratios of FCQTX and FRBVX, 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

	FCQTX	FRBVX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.26	2.50	-0.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.70	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.12	1.36	-0.23

Drawdowns

FCQTX vs. FRBVX - Drawdown Comparison

The maximum FCQTX drawdown since its inception was -27.34%, which is greater than FRBVX's maximum drawdown of -14.69%. Use the drawdown chart below to compare losses from any high point for FCQTX and FRBVX.

Drawdown Indicators

	FCQTX	FRBVX	Difference
Max Drawdown Largest peak-to-trough decline	-27.34%	-14.69%	-12.65%
Max Drawdown (1Y) Largest decline over 1 year	-9.83%	-9.08%	-0.75%
Max Drawdown (3Y) Largest decline over 3 years	-15.53%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-27.34%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-5.89%	-1.70%	-4.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.16%	2.04%	+0.12%

Volatility

FCQTX vs. FRBVX - Volatility Comparison

American Funds 2065 Target Date Retirement Fund (FCQTX) and Fidelity Freedom Index 2070 Fund Investor Class (FRBVX) have volatilities of 3.53% and 3.60%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCQTX	FRBVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.53%	3.60%	-0.07%
Volatility (6M) Calculated over the trailing 6-month period	9.66%	9.43%	+0.23%
Volatility (1Y) Calculated over the trailing 1-year period	12.03%	11.67%	+0.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.72%	14.21%	+0.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.05%	14.21%	+0.84%

FCQTX vs. FRBVX - Expense Ratio Comparison

FCQTX has a 0.01% expense ratio, which is lower than FRBVX's 0.12% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

FCQTX vs. FRBVX - Dividend Comparison

FCQTX's dividend yield for the trailing twelve months is around 4.20%, more than FRBVX's 1.44% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
FCQTX American Funds 2065 Target Date Retirement Fund	4.20%	4.67%	2.80%	1.99%	3.96%	1.54%	0.72%
FRBVX Fidelity Freedom Index 2070 Fund Investor Class	1.44%	1.65%	1.37%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FCQTX and FRBVX in my portfolio?

With a correlation of 0.97, FCQTX and FRBVX 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 FRBVX?

FRBVX has higher volatility (3.60%) compared to FCQTX (3.53%). In terms of maximum drawdown, FCQTX dropped -27.34% vs FRBVX's -14.69%.

Which has better risk-adjusted returns?

FRBVX currently has the higher Sharpe Ratio (2.50 vs 2.26), 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.