FDAFX vs. SCHG

Last updated Jul 2, 2026

FDAFX (Fidelity Advisor Freedom 2020 Fund Class A) and SCHG (Schwab U.S. Large-Cap Growth ETF) are both funds - FDAFX is a Target Retirement Date fund managed by Fidelity, while SCHG is a Large Cap Growth Equities fund tracking the Dow Jones U.S. Large-Cap Growth Total Stock Market Index. Over the past 10 years, FDAFX returned 6.95%/yr vs 18.69%/yr for SCHG. Their correlation of 0.85 suggests significant overlap in exposure. FDAFX charges 0.83%/yr vs 0.04%/yr for SCHG.

Performance

FDAFX vs. SCHG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Freedom 2020 Fund Class A (FDAFX) and Schwab U.S. Large-Cap Growth ETF (SCHG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FDAFX achieves a 6.68% return, which is significantly higher than SCHG's 4.80% return. Over the past 10 years, FDAFX has underperformed SCHG with an annualized return of 6.95%, while SCHG has yielded a comparatively higher 18.69% annualized return.

FDAFX

• 1D: 0.23%
• 1M: 0.47%
• YTD: 6.68%
• 6M: 6.68%
• 1Y: 12.88%
• 3Y*: 10.93%
• 5Y*: 4.44%
• 10Y*: 6.95%

SCHG

• 1D: 0.80%
• 1M: -3.27%
• YTD: 4.80%
• 6M: 4.80%
• 1Y: 18.44%
• 3Y*: 22.64%
• 5Y*: 13.51%
• 10Y*: 18.69%

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

FDAFX vs. SCHG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FDAFX Fidelity Advisor Freedom 2020 Fund Class A	6.68%	14.28%	6.79%	12.08%	-16.22%	8.40%	13.09%	18.40%	-5.05%	12.05%
SCHG Schwab U.S. Large-Cap Growth ETF	4.80%	17.50%	34.95%	50.10%	-31.80%	28.11%	39.14%	36.02%	-1.36%	28.05%

Correlation

The correlation between FDAFX and SCHG is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.75
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (5Y) Calculated over the trailing 5-year period	0.76
Correlation (10Y) Calculated over the trailing 10-year period	0.80
Correlation (All Time) Calculated using the full available price history since Dec 11, 2009	0.85

The correlation between FDAFX and SCHG shifts across timeframes, from 0.72 (3 years) to 0.85 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FDAFX vs. SCHG — Risk / Return Rank

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

FDAFX

FDAFX Risk / Return Rank: 54
FDAFX Sharpe Ratio Rank: 52
FDAFX Sortino Ratio Rank: 52
FDAFX Omega Ratio Rank: 58
FDAFX Calmar Ratio Rank: 51
FDAFX Martin Ratio Rank: 59

SCHG

SCHG Risk / Return Rank: 31
SCHG Sharpe Ratio Rank: 36
SCHG Sortino Ratio Rank: 34
SCHG Omega Ratio Rank: 33
SCHG Calmar Ratio Rank: 26
SCHG Martin Ratio Rank: 29

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.

FDAFX vs. SCHG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Freedom 2020 Fund Class A (FDAFX) and Schwab U.S. Large-Cap Growth ETF (SCHG). 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.

	FDAFX	SCHG	Difference
Sharpe ratio: Return per unit of total volatility	1.71	1.14	+0.57
Sortino ratio: Return per unit of downside risk	2.43	1.60	+0.83
Omega ratio: Gain probability vs. loss probability	1.33	1.20	+0.13
Calmar ratio: Return relative to maximum drawdown	2.30	1.13	+1.18
Martin ratio: Return relative to average drawdown	9.72	3.63	+6.10

FDAFX vs. SCHG - Sharpe Ratio Comparison

The current FDAFX Sharpe Ratio is 1.71, which is higher than the SCHG Sharpe Ratio of 1.14. The chart below compares the historical Sharpe Ratios of FDAFX and SCHG, 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

FDAFX vs. SCHG - Drawdown Comparison

The maximum FDAFX drawdown since its inception was -47.38%, which is greater than SCHG's maximum drawdown of -34.59%. Use the drawdown chart below to compare losses from any high point for FDAFX and SCHG.

Drawdown Indicators

	FDAFX	SCHG	Difference
Max Drawdown Largest peak-to-trough decline	-47.38%	-34.59%	-12.79%
Max Drawdown (1Y) Largest decline over 1 year	-5.57%	-16.41%	+10.84%
Max Drawdown (3Y) Largest decline over 3 years	-7.72%	-23.39%	+15.67%
Max Drawdown (5Y) Largest decline over 5 years	-22.75%	-34.59%	+11.84%
Max Drawdown (10Y) Largest decline over 10 years	-22.75%	-34.59%	+11.84%
Current Drawdown Current decline from peak	-0.16%	-3.27%	+3.11%
Average Drawdown Average peak-to-trough decline	-5.52%	-5.20%	-0.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.32%	5.09%	-3.77%

Volatility

FDAFX vs. SCHG - Volatility Comparison

The current volatility for Fidelity Advisor Freedom 2020 Fund Class A (FDAFX) is 3.33%, while Schwab U.S. Large-Cap Growth ETF (SCHG) has a volatility of 6.34%. This indicates that FDAFX experiences smaller price fluctuations and is considered to be less risky than SCHG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FDAFX	SCHG	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.33%	6.34%	-3.01%
Volatility (6M) Calculated over the trailing 6-month period	6.54%	12.69%	-6.15%
Volatility (1Y) Calculated over the trailing 1-year period	7.52%	16.31%	-8.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.98%	22.41%	-13.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.04%	21.56%	-12.52%

FDAFX vs. SCHG - Expense Ratio Comparison

FDAFX has a 0.83% expense ratio, which is higher than SCHG's 0.04% expense ratio.

Dividends

FDAFX vs. SCHG - Dividend Comparison

FDAFX's dividend yield for the trailing twelve months is around 7.65%, more than SCHG's 0.39% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDAFX Fidelity Advisor Freedom 2020 Fund Class A	7.65%	7.70%	4.66%	2.15%	8.84%	10.71%	6.97%	6.62%	9.48%	3.23%	4.34%	3.51%
SCHG Schwab U.S. Large-Cap Growth ETF	0.39%	0.36%	0.39%	0.46%	0.55%	0.42%	0.52%	0.82%	1.27%	1.01%	1.04%	1.22%

Frequently Asked Questions

Can I hold both FDAFX and SCHG in my portfolio?

FDAFX and SCHG have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FDAFX or SCHG?

SCHG has higher volatility (6.34%) compared to FDAFX (3.33%). In terms of maximum drawdown, FDAFX dropped -47.38% vs SCHG's -34.59%.

Which has better risk-adjusted returns?

FDAFX currently has the higher Sharpe Ratio (1.71 vs 1.14), 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.