FDRR vs. FIWFX

Last updated Jun 24, 2026

FDRR (Fidelity Dividend ETF for Rising Rates) and FIWFX (Fidelity Freedom Index 2015 Fund Institutional Premium Class) are both funds - FDRR is a Large Cap Blend Equities fund tracking the Fidelity Dividend Index for Rising Rates, while FIWFX is a Target Retirement Date fund managed by Fidelity. Over the past 5 years, FDRR returned 12.13%/yr vs 4.15%/yr for FIWFX. Their correlation of 0.83 suggests significant overlap in exposure. FDRR charges 0.15%/yr vs 0.08%/yr for FIWFX.

Performance

FDRR vs. FIWFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Dividend ETF for Rising Rates (FDRR) and Fidelity Freedom Index 2015 Fund Institutional Premium Class (FIWFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FDRR achieves a 7.87% return, which is significantly higher than FIWFX's 4.87% return.

FDRR

• 1D: -0.04%
• 1M: -0.38%
• YTD: 7.87%
• 6M: 7.46%
• 1Y: 26.53%
• 3Y*: 20.07%
• 5Y*: 12.13%
• 10Y*: —

FIWFX

• 1D: -0.25%
• 1M: 0.83%
• YTD: 4.87%
• 6M: 4.76%
• 1Y: 12.13%
• 3Y*: 9.58%
• 5Y*: 4.15%
• 10Y*: 6.58%

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

FDRR vs. FIWFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FDRR Fidelity Dividend ETF for Rising Rates	7.87%	21.70%	20.24%	13.66%	-9.73%	26.06%	8.23%	26.86%	-3.60%	19.29%
FIWFX Fidelity Freedom Index 2015 Fund Institutional Premium Class	4.87%	11.81%	6.76%	11.32%	-14.44%	6.84%	11.61%	16.47%	-3.39%	12.67%

Correlation

The correlation between FDRR and FIWFX is 0.79, 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	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.78
Correlation (5Y) Calculated over the trailing 5-year period	0.80
Correlation (All Time) Calculated using the full available price history since Sep 15, 2016	0.83

The correlation between FDRR and FIWFX has been stable across timeframes, ranging from 0.78 to 0.83 - a consistent structural relationship.

Return for Risk

FDRR vs. FIWFX — Risk / Return Rank

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

FDRR

FDRR Risk / Return Rank: 74
FDRR Sharpe Ratio Rank: 78
FDRR Sortino Ratio Rank: 79
FDRR Omega Ratio Rank: 77
FDRR Calmar Ratio Rank: 66
FDRR Martin Ratio Rank: 72

FIWFX

FIWFX Risk / Return Rank: 70
FIWFX Sharpe Ratio Rank: 69
FIWFX Sortino Ratio Rank: 72
FIWFX Omega Ratio Rank: 73
FIWFX Calmar Ratio Rank: 63
FIWFX Martin Ratio Rank: 70

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.

FDRR vs. FIWFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Dividend ETF for Rising Rates (FDRR) and Fidelity Freedom Index 2015 Fund Institutional Premium Class (FIWFX). 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.

	FDRR	FIWFX	Difference
Sharpe ratio: Return per unit of total volatility	2.37	2.23	+0.15
Sortino ratio: Return per unit of downside risk	3.30	3.22	+0.09
Omega ratio: Gain probability vs. loss probability	1.43	1.44	-0.01
Calmar ratio: Return relative to maximum drawdown	3.13	2.91	+0.22
Martin ratio: Return relative to average drawdown	12.81	12.59	+0.22

FDRR vs. FIWFX - Sharpe Ratio Comparison

The current FDRR Sharpe Ratio is 2.37, which is comparable to the FIWFX Sharpe Ratio of 2.23. The chart below compares the historical Sharpe Ratios of FDRR and FIWFX, 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

FDRR vs. FIWFX - Drawdown Comparison

The maximum FDRR drawdown since its inception was -36.52%, which is greater than FIWFX's maximum drawdown of -19.50%. Use the drawdown chart below to compare losses from any high point for FDRR and FIWFX.

Drawdown Indicators

	FDRR	FIWFX	Difference
Max Drawdown Largest peak-to-trough decline	-36.52%	-19.50%	-17.02%
Max Drawdown (1Y) Largest decline over 1 year	-8.52%	-4.31%	-4.21%
Max Drawdown (3Y) Largest decline over 3 years	-18.04%	-6.72%	-11.32%
Max Drawdown (5Y) Largest decline over 5 years	-20.92%	-19.50%	-1.42%
Max Drawdown (10Y) Largest decline over 10 years	—	-19.50%	—
Current Drawdown Current decline from peak	-3.08%	-0.44%	-2.64%
Average Drawdown Average peak-to-trough decline	-4.00%	-3.28%	-0.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.08%	1.00%	+1.08%

Volatility

FDRR vs. FIWFX - Volatility Comparison

Fidelity Dividend ETF for Rising Rates (FDRR) has a higher volatility of 3.79% compared to Fidelity Freedom Index 2015 Fund Institutional Premium Class (FIWFX) at 2.34%. This indicates that FDRR's price experiences larger fluctuations and is considered to be riskier than FIWFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FDRR	FIWFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.79%	2.34%	+1.45%
Volatility (6M) Calculated over the trailing 6-month period	8.68%	4.75%	+3.93%
Volatility (1Y) Calculated over the trailing 1-year period	11.25%	5.65%	+5.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.02%	7.35%	+7.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.86%	7.52%	+9.34%

FDRR vs. FIWFX - Expense Ratio Comparison

FDRR has a 0.15% expense ratio, which is higher than FIWFX's 0.08% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

FDRR vs. FIWFX - Dividend Comparison

FDRR's dividend yield for the trailing twelve months is around 2.16%, less than FIWFX's 4.89% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FDRR Fidelity Dividend ETF for Rising Rates	2.16%	2.21%	2.61%	2.93%	2.75%	2.09%	2.85%	2.89%	3.20%	2.89%	0.61%	0.00%
FIWFX Fidelity Freedom Index 2015 Fund Institutional Premium Class	4.89%	5.46%	5.21%	2.60%	3.14%	2.90%	2.67%	18.25%	3.19%	1.99%	1.91%	1.77%

Frequently Asked Questions

Can I hold both FDRR and FIWFX in my portfolio?

FDRR and FIWFX have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FDRR or FIWFX?

FDRR has higher volatility (3.79%) compared to FIWFX (2.34%). In terms of maximum drawdown, FDRR dropped -36.52% vs FIWFX's -19.50%.

Which has better risk-adjusted returns?

FDRR currently has the higher Sharpe Ratio (2.37 vs 2.23), 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.