FCTKX vs. MLLIX

Last updated Jun 25, 2026

FCTKX (Fidelity Freedom 2055 Fund Class K6) and MLLIX (MFS Lifetime Income Fund) are both Target Retirement Date funds. Over the past 5 years, FCTKX returned 10.22%/yr vs 3.28%/yr for MLLIX. Their correlation of 0.82 suggests significant overlap in exposure. FCTKX charges 0.50%/yr vs 0.00%/yr for MLLIX.

Performance

FCTKX vs. MLLIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Freedom 2055 Fund Class K6 (FCTKX) and MFS Lifetime Income Fund (MLLIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FCTKX achieves a 12.17% return, which is significantly higher than MLLIX's 3.06% return.

FCTKX

• 1D: -2.21%
• 1M: 0.79%
• YTD: 12.17%
• 6M: 11.46%
• 1Y: 26.89%
• 3Y*: 20.20%
• 5Y*: 10.22%
• 10Y*: —

MLLIX

• 1D: -0.32%
• 1M: 0.49%
• YTD: 3.06%
• 6M: 3.15%
• 1Y: 8.12%
• 3Y*: 7.74%
• 5Y*: 3.28%
• 10Y*: 5.11%

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

FCTKX vs. MLLIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FCTKX Fidelity Freedom 2055 Fund Class K6	12.17%	24.06%	14.41%	20.84%	-18.09%	16.86%	18.53%	25.67%	-8.66%	9.78%
MLLIX MFS Lifetime Income Fund	3.06%	9.32%	5.62%	9.12%	-11.99%	6.63%	10.06%	13.91%	-2.37%	3.51%

Correlation

The correlation between FCTKX and MLLIX is 0.81, 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	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.79
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (All Time) Calculated using the full available price history since Jun 15, 2017	0.82

The correlation between FCTKX and MLLIX has been stable across timeframes, ranging from 0.79 to 0.82 - a consistent structural relationship.

Return for Risk

FCTKX vs. MLLIX — Risk / Return Rank

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

FCTKX

FCTKX Risk / Return Rank: 63
FCTKX Sharpe Ratio Rank: 60
FCTKX Sortino Ratio Rank: 55
FCTKX Omega Ratio Rank: 59
FCTKX Calmar Ratio Rank: 66
FCTKX Martin Ratio Rank: 73

MLLIX

MLLIX Risk / Return Rank: 56
MLLIX Sharpe Ratio Rank: 58
MLLIX Sortino Ratio Rank: 64
MLLIX Omega Ratio Rank: 60
MLLIX Calmar Ratio Rank: 43
MLLIX Martin Ratio Rank: 56

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.

FCTKX vs. MLLIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Freedom 2055 Fund Class K6 (FCTKX) and MFS Lifetime Income Fund (MLLIX). 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.

	FCTKX	MLLIX	Difference
Sharpe ratio: Return per unit of total volatility	2.06	1.90	+0.16
Sortino ratio: Return per unit of downside risk	2.81	2.82	-0.01
Omega ratio: Gain probability vs. loss probability	1.38	1.36	+0.02
Calmar ratio: Return relative to maximum drawdown	2.94	2.23	+0.71
Martin ratio: Return relative to average drawdown	12.83	9.92	+2.92

FCTKX vs. MLLIX - Sharpe Ratio Comparison

The current FCTKX Sharpe Ratio is 2.06, which is comparable to the MLLIX Sharpe Ratio of 1.90. The chart below compares the historical Sharpe Ratios of FCTKX and MLLIX, 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

FCTKX vs. MLLIX - Drawdown Comparison

The maximum FCTKX drawdown since its inception was -30.94%, which is greater than MLLIX's maximum drawdown of -17.32%. Use the drawdown chart below to compare losses from any high point for FCTKX and MLLIX.

Drawdown Indicators

	FCTKX	MLLIX	Difference
Max Drawdown Largest peak-to-trough decline	-30.94%	-17.32%	-13.62%
Max Drawdown (1Y) Largest decline over 1 year	-9.78%	-3.86%	-5.92%
Max Drawdown (3Y) Largest decline over 3 years	-15.40%	-5.74%	-9.66%
Max Drawdown (5Y) Largest decline over 5 years	-27.16%	-16.08%	-11.08%
Max Drawdown (10Y) Largest decline over 10 years	—	-16.08%	—
Current Drawdown Current decline from peak	-2.45%	-0.72%	-1.73%
Average Drawdown Average peak-to-trough decline	-5.44%	-2.15%	-3.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.23%	0.87%	+1.36%

Volatility

FCTKX vs. MLLIX - Volatility Comparison

Fidelity Freedom 2055 Fund Class K6 (FCTKX) has a higher volatility of 6.18% compared to MFS Lifetime Income Fund (MLLIX) at 1.64%. This indicates that FCTKX's price experiences larger fluctuations and is considered to be riskier than MLLIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FCTKX	MLLIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.18%	1.64%	+4.54%
Volatility (6M) Calculated over the trailing 6-month period	11.93%	3.66%	+8.27%
Volatility (1Y) Calculated over the trailing 1-year period	13.96%	4.52%	+9.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.25%	5.94%	+9.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.96%	5.71%	+10.25%

FCTKX vs. MLLIX - Expense Ratio Comparison

FCTKX has a 0.50% expense ratio, which is higher than MLLIX's 0.00% expense ratio.

Dividends

FCTKX vs. MLLIX - Dividend Comparison

FCTKX's dividend yield for the trailing twelve months is around 5.22%, less than MLLIX's 7.72% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FCTKX Fidelity Freedom 2055 Fund Class K6	5.22%	4.06%	2.31%	2.19%	11.70%	11.47%	4.40%	6.53%	7.08%	2.74%	0.00%	0.00%
MLLIX MFS Lifetime Income Fund	7.72%	6.01%	6.26%	3.70%	3.92%	6.12%	3.18%	3.80%	4.20%	3.56%	4.21%	2.51%

Frequently Asked Questions

Can I hold both FCTKX and MLLIX in my portfolio?

FCTKX and MLLIX have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FCTKX or MLLIX?

FCTKX has higher volatility (6.18%) compared to MLLIX (1.64%). In terms of maximum drawdown, FCTKX dropped -30.94% vs MLLIX's -17.32%.

Which has better risk-adjusted returns?

FCTKX currently has the higher Sharpe Ratio (2.06 vs 1.90), 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.