FCTHX vs. FIRVX

Last updated Jun 23, 2026

FCTHX (Fidelity Advisor Freedom 2035 Fund Class C) and FIRVX (Fidelity Managed Retirement 2020 Fund) are both Target Retirement Date funds. Over the past 10 years, FCTHX returned 9.58%/yr vs 176.04%/yr for FIRVX. With a 0.97 correlation, they move nearly in lockstep. FCTHX charges 1.71%/yr vs 0.47%/yr for FIRVX.

Performance

FCTHX vs. FIRVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Freedom 2035 Fund Class C (FCTHX) and Fidelity Managed Retirement 2020 Fund (FIRVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FCTHX achieves a 9.35% return, which is significantly lower than FIRVX's 1,440,933.92% return. Over the past 10 years, FCTHX has underperformed FIRVX with an annualized return of 9.58%, while FIRVX has yielded a comparatively higher 176.04% annualized return.

FCTHX

• 1D: 1.15%
• 1M: 2.46%
• YTD: 9.35%
• 6M: 9.44%
• 1Y: 20.85%
• 3Y*: 14.11%
• 5Y*: 6.69%
• 10Y*: 9.58%

FIRVX

• 1D: 1,371,718.18%
• 1M: 1,382,668.54%
• YTD: 1,440,933.92%
• 6M: 1,442,468.36%
• 1Y: 1,545,588.89%
• 3Y*: 2,512.79%
• 5Y*: 597.67%
• 10Y*: 176.04%

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

FCTHX vs. FIRVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FCTHX Fidelity Advisor Freedom 2035 Fund Class C	9.35%	17.58%	9.58%	15.58%	-18.40%	12.81%	15.37%	24.55%	-8.71%	19.69%
FIRVX Fidelity Managed Retirement 2020 Fund	1,440,933.92%	12.25%	5.86%	10.72%	-14.63%	6.77%	12.06%	16.19%	-4.45%	13.32%

Correlation

The correlation between FCTHX and FIRVX 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	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Dec 31, 2007	0.97

The correlation between FCTHX and FIRVX has been stable across timeframes, ranging from 0.93 to 0.97 - a consistent structural relationship.

Return for Risk

FCTHX vs. FIRVX — Risk / Return Rank

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

FCTHX

FCTHX Risk / Return Rank: 56
FCTHX Sharpe Ratio Rank: 54
FCTHX Sortino Ratio Rank: 53
FCTHX Omega Ratio Rank: 57
FCTHX Calmar Ratio Rank: 54
FCTHX Martin Ratio Rank: 61

FIRVX

FIRVX Risk / Return Rank: 84
FIRVX Sharpe Ratio Rank: 19
FIRVX Sortino Ratio Rank: 100
FIRVX Omega Ratio Rank: 100
FIRVX Calmar Ratio Rank: 100
FIRVX Martin Ratio Rank: 100

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.

FCTHX vs. FIRVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Freedom 2035 Fund Class C (FCTHX) and Fidelity Managed Retirement 2020 Fund (FIRVX). 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.

	FCTHX	FIRVX	Difference
Sharpe ratio: Return per unit of total volatility	1.99	1.17	+0.82
Sortino ratio: Return per unit of downside risk	2.80	351,355.56	-351,352.76
Omega ratio: Gain probability vs. loss probability	1.38	49,085.82	-49,084.44
Calmar ratio: Return relative to maximum drawdown	2.69	356,370.91	-356,368.22
Martin ratio: Return relative to average drawdown	11.35	1,512,145.77	-1,512,134.42

FCTHX vs. FIRVX - Sharpe Ratio Comparison

The current FCTHX Sharpe Ratio is 1.99, which is higher than the FIRVX Sharpe Ratio of 1.17. The chart below compares the historical Sharpe Ratios of FCTHX and FIRVX, 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

FCTHX vs. FIRVX - Drawdown Comparison

The maximum FCTHX drawdown since its inception was -55.17%, which is greater than FIRVX's maximum drawdown of -40.59%. Use the drawdown chart below to compare losses from any high point for FCTHX and FIRVX.

Drawdown Indicators

	FCTHX	FIRVX	Difference
Max Drawdown Largest peak-to-trough decline	-55.17%	-40.59%	-14.58%
Max Drawdown (1Y) Largest decline over 1 year	-7.69%	-4.51%	-3.18%
Max Drawdown (3Y) Largest decline over 3 years	-11.50%	-6.52%	-4.98%
Max Drawdown (5Y) Largest decline over 5 years	-26.56%	-20.10%	-6.46%
Max Drawdown (10Y) Largest decline over 10 years	-29.25%	-20.10%	-9.15%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-7.82%	-4.97%	-2.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.82%	1.06%	+0.76%

Volatility

FCTHX vs. FIRVX - Volatility Comparison

The current volatility for Fidelity Advisor Freedom 2035 Fund Class C (FCTHX) is 4.39%, while Fidelity Managed Retirement 2020 Fund (FIRVX) has a volatility of 952.63%. This indicates that FCTHX experiences smaller price fluctuations and is considered to be less risky than FIRVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCTHX	FIRVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.39%	952.63%	-948.24%
Volatility (6M) Calculated over the trailing 6-month period	8.89%	952.62%	-943.73%
Volatility (1Y) Calculated over the trailing 1-year period	10.39%	1,374,447.92%	-1,374,437.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.51%	614,671.81%	-614,659.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.69%	434,465.54%	-434,451.85%

FCTHX vs. FIRVX - Expense Ratio Comparison

FCTHX has a 1.71% expense ratio, which is higher than FIRVX's 0.47% expense ratio.

Dividends

FCTHX vs. FIRVX - Dividend Comparison

FCTHX's dividend yield for the trailing twelve months is around 7.23%, less than FIRVX's 102.87% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FCTHX Fidelity Advisor Freedom 2035 Fund Class C	7.23%	7.19%	2.83%	1.08%	9.76%	9.19%	5.79%	6.82%	11.37%	4.16%	4.25%	4.48%
FIRVX Fidelity Managed Retirement 2020 Fund	102.87%	2.83%	2.74%	2.57%	3.52%	4.61%	3.74%	3.18%	6.90%	25.16%	2.28%	4.45%

Frequently Asked Questions

Can I hold both FCTHX and FIRVX in my portfolio?

With a correlation of 0.95, FCTHX and FIRVX 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, FCTHX or FIRVX?

FIRVX has higher volatility (952.63%) compared to FCTHX (4.39%). In terms of maximum drawdown, FCTHX dropped -55.17% vs FIRVX's -40.59%.

Which has better risk-adjusted returns?

FCTHX currently has the higher Sharpe Ratio (1.99 vs 1.17), 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.