FDEWX vs. TRRNX
FDEWX (Fidelity Freedom Index 2055 Fund Investor Class) and TRRNX (T. Rowe Price Retirement 2055 Fund) are both Target Retirement Date funds. Both are actively managed. Over the past 10 years, FDEWX returned 11.40%/yr vs 10.76%/yr for TRRNX. Their 0.97 correlation means they have historically moved very closely together. FDEWX charges 0.12%/yr vs 0.63%/yr for TRRNX.
Performance
FDEWX vs. TRRNX - Performance Comparison
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Returns By Period
In the year-to-date period, FDEWX achieves a 10.38% return, which is significantly lower than TRRNX's 10.95% return. Over the past 10 years, FDEWX has outperformed TRRNX with an annualized return of 11.40%, while TRRNX has yielded a comparatively lower 10.76% annualized return.
FDEWX
- 1D
- 1.96%
- 1M
- -0.50%
- 6M
- 7.30%
- YTD
- 10.38%
- 1Y
- 21.95%
- 3Y*
- 16.47%
- 5Y*
- 9.31%
- 10Y*
- 11.40%
- ALL TIME*
- 9.88%
TRRNX
- 1D
- 1.77%
- 1M
- -0.04%
- 6M
- 5.96%
- YTD
- 10.95%
- 1Y
- 17.62%
- 3Y*
- 14.46%
- 5Y*
- 7.92%
- 10Y*
- 10.76%
- ALL TIME*
- 8.16%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
FDEWX vs. TRRNX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FDEWX Fidelity Freedom Index 2055 Fund Investor Class | 10.38% | 21.39% | 14.14% | 19.95% | -18.01% | 15.88% | 16.46% | 25.94% | -7.19% | 20.53% |
TRRNX T. Rowe Price Retirement 2055 Fund | 10.95% | 14.33% | 14.24% | 20.88% | -19.17% | 17.42% | 18.54% | 25.40% | -7.70% | 20.78% |
Correlation
The correlation between FDEWX and TRRNX is 0.95, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.95 |
Correlation (3Y) Balances recent behavior with more history. | 0.95 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.96 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.96 |
Correlation (All Time) Calculated using the full available price history since Jun 3, 2011 | 0.97 |
The correlation between FDEWX and TRRNX has been stable across timeframes, ranging from 0.95 to 0.97 - a consistent structural relationship.
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Return for Risk
FDEWX vs. TRRNX — Risk / Return Rank
FDEWX
TRRNX
FDEWX vs. TRRNX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Freedom Index 2055 Fund Investor Class (FDEWX) and T. Rowe Price Retirement 2055 Fund (TRRNX). 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.
| FDEWX | TRRNX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.39 | ||
| Sortino ratioReturn per unit of downside risk | +0.51 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.22 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.24 | 1.64 | +0.61 |
| Martin ratioReturn relative to average drawdown | 9.28 | 6.65 | +2.63 |
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Drawdowns
FDEWX vs. TRRNX - Drawdown Comparison
The maximum FDEWX drawdown since its inception was -30.69%, smaller than the maximum TRRNX drawdown of -53.59%. Use the drawdown chart below to compare losses from any high point for FDEWX and TRRNX.
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Drawdown Indicators
| FDEWX | TRRNX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.69% | -53.59% | +22.90% |
Max Drawdown (1Y)Largest decline over 1 year | -9.07% | -9.84% | +0.77% |
Max Drawdown (3Y)Largest decline over 3 years | -14.74% | -15.61% | +0.87% |
Max Drawdown (5Y)Largest decline over 5 years | -26.22% | -28.03% | +1.81% |
Max Drawdown (10Y)Largest decline over 10 years | -30.69% | -32.54% | +1.85% |
Current DrawdownCurrent decline from peak | -1.99% | -0.98% | -1.01% |
Average DrawdownAverage peak-to-trough decline | -4.20% | -7.52% | +3.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.19% | 2.40% | -0.21% |
Volatility
FDEWX vs. TRRNX - Volatility Comparison
Fidelity Freedom Index 2055 Fund Investor Class (FDEWX) has a higher volatility of 3.82% compared to T. Rowe Price Retirement 2055 Fund (TRRNX) at 3.49%. This indicates that FDEWX's price experiences larger fluctuations and is considered to be riskier than TRRNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FDEWX | TRRNX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.82% | 3.49% | +0.33% |
Volatility (6M)Calculated over the trailing 6-month period | 10.92% | 11.03% | -0.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.92% | 13.59% | -0.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.59% | 15.46% | -0.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.18% | 15.52% | -0.34% |
FDEWX vs. TRRNX - Expense Ratio Comparison
FDEWX has a 0.12% expense ratio, which is lower than TRRNX's 0.63% expense ratio.
Dividends
FDEWX vs. TRRNX - Dividend Comparison
FDEWX's dividend yield for the trailing twelve months is around 1.72%, while TRRNX has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FDEWX Fidelity Freedom Index 2055 Fund Investor Class | 1.72% | 1.97% | 1.98% | 1.92% | 2.24% | 1.89% | 1.85% | 10.83% | 2.36% | 1.93% | 2.42% | 2.31% |
TRRNX T. Rowe Price Retirement 2055 Fund | 0.00% | 0.00% | 1.77% | 3.81% | 7.01% | 5.83% | 3.40% | 5.41% | 7.55% | 2.12% | 2.62% | 3.50% |
Frequently Asked Questions
With a correlation of 0.95, FDEWX and TRRNX 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.
FDEWX has higher volatility (3.82%) compared to TRRNX (3.49%). In terms of maximum drawdown, FDEWX dropped -30.69% vs TRRNX's -53.59%.
FDEWX currently has the higher Sharpe Ratio (1.58 vs 1.19), 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.
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