FDKTX vs. IRSOX

Last updated Jun 4, 2026

FDKTX (Fidelity Advisor Freedom 2060 Fund Class M) and IRSOX (Voya Target Retirement 2040 Fund) are both Target Retirement Date funds. Over the past 10 years, FDKTX returned 11.53%/yr vs 11.24%/yr for IRSOX. With a 0.96 correlation, they move nearly in lockstep. FDKTX charges 1.25%/yr vs 0.23%/yr for IRSOX.

Performance

FDKTX vs. IRSOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Freedom 2060 Fund Class M (FDKTX) and Voya Target Retirement 2040 Fund (IRSOX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FDKTX achieves a 12.43% return, which is significantly higher than IRSOX's 11.67% return. Both investments have delivered pretty close results over the past 10 years, with FDKTX having a 11.53% annualized return and IRSOX not far behind at 11.24%.

FDKTX

• 1D: 0.53%
• 1M: 4.70%
• YTD: 12.43%
• 6M: 14.03%
• 1Y: 27.93%
• 3Y*: 19.31%
• 5Y*: 9.30%
• 10Y*: 11.53%

IRSOX

• 1D: 0.35%
• 1M: 5.13%
• YTD: 11.67%
• 6M: 12.45%
• 1Y: 26.71%
• 3Y*: 18.38%
• 5Y*: 9.48%
• 10Y*: 11.24%

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

FDKTX vs. IRSOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FDKTX Fidelity Advisor Freedom 2060 Fund Class M	12.43%	22.40%	13.12%	18.64%	-18.53%	15.40%	16.93%	25.99%	-8.71%	21.02%
IRSOX Voya Target Retirement 2040 Fund	11.67%	19.10%	13.74%	19.25%	-18.43%	17.65%	16.93%	23.69%	-8.31%	20.15%

Correlation

The correlation between FDKTX and IRSOX is 0.88, 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	0.88
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (10Y) Calculated over the trailing 10-year period	0.96
Correlation (All Time) Calculated using the full available price history since Aug 13, 2014	0.96

The correlation between FDKTX and IRSOX has been stable across timeframes, ranging from 0.88 to 0.96 - a consistent structural relationship.

Return for Risk

FDKTX vs. IRSOX — Risk / Return Rank

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

FDKTX

FDKTX Risk / Return Rank: 57
FDKTX Sharpe Ratio Rank: 56
FDKTX Sortino Ratio Rank: 53
FDKTX Omega Ratio Rank: 56
FDKTX Calmar Ratio Rank: 55
FDKTX Martin Ratio Rank: 64

IRSOX

IRSOX Risk / Return Rank: 82
IRSOX Sharpe Ratio Rank: 85
IRSOX Sortino Ratio Rank: 83
IRSOX Omega Ratio Rank: 78
IRSOX Calmar Ratio Rank: 78
IRSOX Martin Ratio Rank: 87

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.

FDKTX vs. IRSOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Freedom 2060 Fund Class M (FDKTX) and Voya Target Retirement 2040 Fund (IRSOX). 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.

	FDKTX	IRSOX	Difference
Sharpe ratio: Return per unit of total volatility	2.22	2.75	-0.53
Sortino ratio: Return per unit of downside risk	3.08	3.99	-0.91
Omega ratio: Gain probability vs. loss probability	1.41	1.51	-0.10
Calmar ratio: Return relative to maximum drawdown	2.84	3.53	-0.69
Martin ratio: Return relative to average drawdown	12.52	16.89	-4.37
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FDKTX vs. IRSOX - Sharpe Ratio Comparison

The current FDKTX Sharpe Ratio is 2.22, which is comparable to the IRSOX Sharpe Ratio of 2.75. The chart below compares the historical Sharpe Ratios of FDKTX and IRSOX, 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

	FDKTX	IRSOX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.22	2.75	-0.53
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.62	0.70	-0.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.75	0.77	-0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.66	0.75	-0.10

Drawdowns

FDKTX vs. IRSOX - Drawdown Comparison

The maximum FDKTX drawdown since its inception was -31.29%, roughly equal to the maximum IRSOX drawdown of -31.25%. Use the drawdown chart below to compare losses from any high point for FDKTX and IRSOX.

Drawdown Indicators

	FDKTX	IRSOX	Difference
Max Drawdown Largest peak-to-trough decline	-31.29%	-31.25%	-0.04%
Max Drawdown (1Y) Largest decline over 1 year	-9.96%	-8.38%	-1.58%
Max Drawdown (3Y) Largest decline over 3 years	-15.16%	-13.84%	-1.32%
Max Drawdown (5Y) Largest decline over 5 years	-27.64%	-25.24%	-2.40%
Max Drawdown (10Y) Largest decline over 10 years	-31.29%	-31.25%	-0.04%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-5.23%	-4.28%	-0.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.26%	1.69%	+0.57%

Volatility

FDKTX vs. IRSOX - Volatility Comparison

Fidelity Advisor Freedom 2060 Fund Class M (FDKTX) has a higher volatility of 4.28% compared to Voya Target Retirement 2040 Fund (IRSOX) at 3.36%. This indicates that FDKTX's price experiences larger fluctuations and is considered to be riskier than IRSOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FDKTX	IRSOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.28%	3.36%	+0.92%
Volatility (6M) Calculated over the trailing 6-month period	10.58%	8.82%	+1.76%
Volatility (1Y) Calculated over the trailing 1-year period	12.74%	10.75%	+1.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.99%	13.87%	+1.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.51%	14.80%	+0.71%

FDKTX vs. IRSOX - Expense Ratio Comparison

FDKTX has a 1.25% expense ratio, which is higher than IRSOX's 0.23% expense ratio.

Dividends

FDKTX vs. IRSOX - Dividend Comparison

FDKTX's dividend yield for the trailing twelve months is around 5.72%, less than IRSOX's 12.27% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDKTX Fidelity Advisor Freedom 2060 Fund Class M	5.72%	4.51%	1.38%	1.80%	10.01%	8.18%	4.15%	5.82%	8.28%	2.66%	2.92%	3.00%
IRSOX Voya Target Retirement 2040 Fund	12.27%	13.71%	2.25%	2.13%	6.01%	17.52%	3.71%	4.14%	5.84%	5.86%	1.98%	0.41%

Frequently Asked Questions

Can I hold both FDKTX and IRSOX in my portfolio?

FDKTX and IRSOX have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FDKTX or IRSOX?

FDKTX has higher volatility (4.28%) compared to IRSOX (3.36%). In terms of maximum drawdown, FDKTX dropped -31.29% vs IRSOX's -31.25%.

Which has better risk-adjusted returns?

IRSOX currently has the higher Sharpe Ratio (2.75 vs 2.22), 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.