FDCFX vs. VTWNX

Last updated Jun 4, 2026

FDCFX (Fidelity Advisor Freedom 2020 Fund Class C) and VTWNX (Vanguard Target Retirement 2020 Fund) are both Target Retirement Date funds. Over the past 10 years, FDCFX returned 6.41%/yr vs 6.81%/yr for VTWNX. With a 0.97 correlation, they move nearly in lockstep. FDCFX charges 1.58%/yr vs 0.08%/yr for VTWNX.

Performance

FDCFX vs. VTWNX - Performance Comparison

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

Returns By Period

In the year-to-date period, FDCFX achieves a 6.15% return, which is significantly higher than VTWNX's 5.10% return. Over the past 10 years, FDCFX has underperformed VTWNX with an annualized return of 6.41%, while VTWNX has yielded a comparatively higher 6.81% annualized return.

FDCFX

• 1D: 0.32%
• 1M: 2.38%
• YTD: 6.15%
• 6M: 6.66%
• 1Y: 14.93%
• 3Y*: 10.47%
• 5Y*: 3.81%
• 10Y*: 6.41%

VTWNX

• 1D: 0.17%
• 1M: 2.27%
• YTD: 5.10%
• 6M: 5.39%
• 1Y: 13.27%
• 3Y*: 10.58%
• 5Y*: 4.89%
• 10Y*: 6.81%

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

FDCFX vs. VTWNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FDCFX Fidelity Advisor Freedom 2020 Fund Class C	6.15%	13.47%	6.05%	11.14%	-16.84%	7.64%	12.30%	17.51%	-5.79%	14.18%
VTWNX Vanguard Target Retirement 2020 Fund	5.10%	12.17%	7.57%	12.71%	-14.17%	8.15%	12.05%	17.64%	-4.23%	11.83%

Correlation

The correlation between FDCFX and VTWNX is 0.98 - 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	0.98
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (10Y) Calculated over the trailing 10-year period	0.97
Correlation (All Time) Calculated using the full available price history since Jun 8, 2006	0.98

The correlation between FDCFX and VTWNX has been stable across timeframes, ranging from 0.96 to 0.98 - a consistent structural relationship.

Return for Risk

FDCFX vs. VTWNX — Risk / Return Rank

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

FDCFX

FDCFX Risk / Return Rank: 54
FDCFX Sharpe Ratio Rank: 52
FDCFX Sortino Ratio Rank: 53
FDCFX Omega Ratio Rank: 58
FDCFX Calmar Ratio Rank: 49
FDCFX Martin Ratio Rank: 57

VTWNX

VTWNX Risk / Return Rank: 72
VTWNX Sharpe Ratio Rank: 76
VTWNX Sortino Ratio Rank: 77
VTWNX Omega Ratio Rank: 76
VTWNX Calmar Ratio Rank: 62
VTWNX Martin Ratio Rank: 69

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.

FDCFX vs. VTWNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Freedom 2020 Fund Class C (FDCFX) and Vanguard Target Retirement 2020 Fund (VTWNX). 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.

	FDCFX	VTWNX	Difference
Sharpe ratio: Return per unit of total volatility	2.14	2.53	-0.39
Sortino ratio: Return per unit of downside risk	3.07	3.69	-0.62
Omega ratio: Gain probability vs. loss probability	1.42	1.50	-0.08
Calmar ratio: Return relative to maximum drawdown	2.66	3.04	-0.38
Martin ratio: Return relative to average drawdown	11.43	13.32	-1.88
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FDCFX vs. VTWNX - Sharpe Ratio Comparison

The current FDCFX Sharpe Ratio is 2.14, which is comparable to the VTWNX Sharpe Ratio of 2.53. The chart below compares the historical Sharpe Ratios of FDCFX and VTWNX, 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

	FDCFX	VTWNX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.14	2.53	-0.39
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.43	0.66	-0.23
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.71	0.83	-0.11
Sharpe Ratio (All Time) Calculated using the full available price history	0.42	0.55	-0.13

Drawdowns

FDCFX vs. VTWNX - Drawdown Comparison

The maximum FDCFX drawdown since its inception was -47.97%, which is greater than VTWNX's maximum drawdown of -42.16%. Use the drawdown chart below to compare losses from any high point for FDCFX and VTWNX.

Drawdown Indicators

	FDCFX	VTWNX	Difference
Max Drawdown Largest peak-to-trough decline	-47.97%	-42.16%	-5.81%
Max Drawdown (1Y) Largest decline over 1 year	-5.67%	-4.43%	-1.24%
Max Drawdown (3Y) Largest decline over 3 years	-7.95%	-6.20%	-1.75%
Max Drawdown (5Y) Largest decline over 5 years	-23.25%	-19.38%	-3.87%
Max Drawdown (10Y) Largest decline over 10 years	-23.25%	-19.38%	-3.87%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-6.03%	-4.80%	-1.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.32%	1.01%	+0.31%

Volatility

FDCFX vs. VTWNX - Volatility Comparison

Fidelity Advisor Freedom 2020 Fund Class C (FDCFX) has a higher volatility of 2.67% compared to Vanguard Target Retirement 2020 Fund (VTWNX) at 1.90%. This indicates that FDCFX's price experiences larger fluctuations and is considered to be riskier than VTWNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FDCFX	VTWNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.67%	1.90%	+0.77%
Volatility (6M) Calculated over the trailing 6-month period	5.90%	4.36%	+1.54%
Volatility (1Y) Calculated over the trailing 1-year period	7.04%	5.32%	+1.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.88%	7.40%	+1.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.05%	8.28%	+0.77%

FDCFX vs. VTWNX - Expense Ratio Comparison

FDCFX has a 1.58% expense ratio, which is higher than VTWNX's 0.08% expense ratio.

Dividends

FDCFX vs. VTWNX - Dividend Comparison

FDCFX's dividend yield for the trailing twelve months is around 7.09%, less than VTWNX's 7.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDCFX Fidelity Advisor Freedom 2020 Fund Class C	7.09%	7.04%	3.91%	1.54%	8.31%	10.14%	6.37%	6.02%	8.67%	5.15%	3.63%	3.32%
VTWNX Vanguard Target Retirement 2020 Fund	7.80%	8.20%	9.35%	6.20%	4.99%	19.57%	6.28%	3.54%	4.94%	0.73%	2.74%	4.15%

Frequently Asked Questions

Can I hold both FDCFX and VTWNX in my portfolio?

With a correlation of 0.98, FDCFX and VTWNX 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, FDCFX or VTWNX?

FDCFX has higher volatility (2.67%) compared to VTWNX (1.90%). In terms of maximum drawdown, FDCFX dropped -47.97% vs VTWNX's -42.16%.

Which has better risk-adjusted returns?

VTWNX currently has the higher Sharpe Ratio (2.53 vs 2.14), 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.