FDKLX vs. FBALX
FDKLX (Fidelity Freedom Index 2060 Fund Investor Class) and FBALX (Fidelity Balanced Fund) are both mutual funds - FDKLX is a Target Retirement Date fund managed by Fidelity, while FBALX is a Diversified Portfolio fund actively managed by Fidelity. Over the past 10 years, FDKLX returned 12.22%/yr vs 11.98%/yr for FBALX. With a 0.96 correlation, they move nearly in lockstep. FDKLX charges 0.12%/yr vs 0.46%/yr for FBALX.
Performance
FDKLX vs. FBALX - Performance Comparison
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Returns By Period
In the year-to-date period, FDKLX achieves a 11.93% return, which is significantly higher than FBALX's 9.80% return. Both investments have delivered pretty close results over the past 10 years, with FDKLX having a 12.22% annualized return and FBALX not far behind at 11.98%.
FDKLX
- 1D
- -0.12%
- 1M
- 1.81%
- YTD
- 11.93%
- 6M
- 11.29%
- 1Y
- 26.86%
- 3Y*
- 19.01%
- 5Y*
- 9.85%
- 10Y*
- 12.22%
FBALX
- 1D
- -0.37%
- 1M
- 1.03%
- YTD
- 9.80%
- 6M
- 9.32%
- 1Y
- 22.66%
- 3Y*
- 16.25%
- 5Y*
- 9.12%
- 10Y*
- 11.98%
FDKLX vs. FBALX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FDKLX Fidelity Freedom Index 2060 Fund Investor Class | 11.93% | 21.38% | 14.16% | 19.91% | -18.18% | 15.88% | 16.38% | 26.06% | -7.23% | 20.58% |
FBALX Fidelity Balanced Fund | 9.80% | 15.11% | 16.09% | 20.31% | -18.29% | 18.27% | 22.45% | 24.40% | -3.98% | 16.52% |
Correlation
The correlation between FDKLX and FBALX is 0.96 - 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 | 0.96 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Aug 12, 2014 | 0.96 |
The correlation between FDKLX and FBALX has been stable across timeframes, ranging from 0.95 to 0.96 - a consistent structural relationship.
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Return for Risk
FDKLX vs. FBALX — Risk / Return Rank
FDKLX
FBALX
FDKLX vs. FBALX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Freedom Index 2060 Fund Investor Class (FDKLX) and Fidelity Balanced Fund (FBALX). 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.
| FDKLX | FBALX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.33 | ||
| Sortino ratioReturn per unit of downside risk | -0.51 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.49 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 3.07 | 3.65 | -0.58 |
| Martin ratioReturn relative to average drawdown | 13.26 | 17.07 | -3.81 |
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Drawdowns
FDKLX vs. FBALX - Drawdown Comparison
The maximum FDKLX drawdown since its inception was -30.73%, smaller than the maximum FBALX drawdown of -43.57%. Use the drawdown chart below to compare losses from any high point for FDKLX and FBALX.
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Drawdown Indicators
| FDKLX | FBALX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.73% | -43.57% | +12.84% |
Max Drawdown (1Y)Largest decline over 1 year | -9.11% | -6.47% | -2.64% |
Max Drawdown (3Y)Largest decline over 3 years | -14.73% | -12.88% | -1.85% |
Max Drawdown (5Y)Largest decline over 5 years | -26.19% | -22.89% | -3.30% |
Max Drawdown (10Y)Largest decline over 10 years | -30.73% | -26.68% | -4.05% |
Current DrawdownCurrent decline from peak | -0.66% | -0.51% | -0.15% |
Average DrawdownAverage peak-to-trough decline | -4.55% | -4.37% | -0.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.11% | 1.38% | +0.73% |
Volatility
FDKLX vs. FBALX - Volatility Comparison
Fidelity Freedom Index 2060 Fund Investor Class (FDKLX) has a higher volatility of 5.09% compared to Fidelity Balanced Fund (FBALX) at 3.67%. This indicates that FDKLX's price experiences larger fluctuations and is considered to be riskier than FBALX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FDKLX | FBALX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.09% | 3.67% | +1.42% |
Volatility (6M)Calculated over the trailing 6-month period | 10.44% | 7.48% | +2.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.49% | 9.18% | +3.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.53% | 12.26% | +2.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.22% | 12.82% | +2.40% |
FDKLX vs. FBALX - Expense Ratio Comparison
FDKLX has a 0.12% expense ratio, which is lower than FBALX's 0.46% expense ratio.
Dividends
FDKLX vs. FBALX - Dividend Comparison
FDKLX's dividend yield for the trailing twelve months is around 1.69%, less than FBALX's 5.16% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FBALX Fidelity Balanced Fund | 5.16% | 5.69% | 5.67% | 2.28% | 8.06% | 9.66% | 5.90% | 4.24% | 10.99% | 7.90% | 3.07% | 7.70% |
FDKLX Fidelity Freedom Index 2060 Fund Investor Class | 1.69% | 1.95% | 1.94% | 1.89% | 1.99% | 1.86% | 1.79% | 6.74% | 2.33% | 2.12% | 2.41% | 1.82% |
Frequently Asked Questions
With a correlation of 0.96, FDKLX and FBALX 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.
FDKLX has higher volatility (5.09%) compared to FBALX (3.67%). In terms of maximum drawdown, FDKLX dropped -30.73% vs FBALX's -43.57%.
FBALX currently has the higher Sharpe Ratio (2.58 vs 2.24), 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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