FELSX vs. FWLSX

Last updated Aug 1, 2026

FELSX (Fidelity Flex Freedom Blend 2025 Fund) and FWLSX (Fidelity Flex Freedom Blend 2060 Fund) are both Target Retirement Date funds from Fidelity. Over the past 5 years, FELSX returned 6.52%/yr vs 10.71%/yr for FWLSX. Their 0.97 correlation means they have historically moved very closely together. Both charge a 0.00% expense ratio.

Performance

FELSX vs. FWLSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Flex Freedom Blend 2025 Fund (FELSX) and Fidelity Flex Freedom Blend 2060 Fund (FWLSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FELSX achieves a 6.94% return, which is significantly lower than FWLSX's 12.35% return.

FELSX

• 1D: 1.31%
• 1M: -1.03%
• 6M: 4.61%
• YTD: 6.94%
• 1Y: 14.72%
• 3Y*: 13.36%
• 5Y*: 6.52%
• 10Y*: —
• ALL TIME*: 8.32%

FWLSX

• 1D: 2.33%
• 1M: -1.01%
• 6M: 8.41%
• YTD: 12.35%
• 1Y: 24.74%
• 3Y*: 19.00%
• 5Y*: 10.71%
• 10Y*: —
• ALL TIME*: 12.05%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FELSX Fidelity Flex Freedom Blend 2025 Fund	$0.00	$0.00	$0.00
FWLSX Fidelity Flex Freedom Blend 2060 Fund	$0.00	$0.00	$0.00

FELSX vs. FWLSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FELSX Fidelity Flex Freedom Blend 2025 Fund	6.94%	16.22%	13.48%	14.56%	-16.84%	10.29%	14.86%	19.81%	-5.51%	7.55%
FWLSX Fidelity Flex Freedom Blend 2060 Fund	12.35%	22.76%	17.95%	21.00%	-18.55%	16.88%	18.48%	25.96%	-8.33%	10.11%

Correlation

The correlation between FELSX and FWLSX is 0.97 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.97
Correlation (3Y) Balances recent behavior with more history.	0.96
Correlation (5Y) Shows whether the relationship held over a longer period.	0.96
Correlation (All Time) Calculated using the full available price history since Jun 15, 2017	0.97

The correlation between FELSX and FWLSX has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.

Return for Risk

FELSX vs. FWLSX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FELSX

FELSX Risk / Return Rank: 68
FELSX Sharpe Ratio Rank: 65
FELSX Sortino Ratio Rank: 65
FELSX Omega Ratio Rank: 66
FELSX Calmar Ratio Rank: 68
FELSX Martin Ratio Rank: 74

FWLSX

FWLSX Risk / Return Rank: 72
FWLSX Sharpe Ratio Rank: 69
FWLSX Sortino Ratio Rank: 67
FWLSX Omega Ratio Rank: 68
FWLSX Calmar Ratio Rank: 75
FWLSX Martin Ratio Rank: 83

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FELSX vs. FWLSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Flex Freedom Blend 2025 Fund (FELSX) and Fidelity Flex Freedom Blend 2060 Fund (FWLSX). 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.

	FELSX	FWLSX	Difference
Sharpe ratio: Return per unit of total volatility	1.58	1.62	-0.04
Sortino ratio: Return per unit of downside risk	2.26	2.28	-0.01
Omega ratio: Gain probability vs. loss probability	1.30	1.30	0.00
Calmar ratio: Return relative to maximum drawdown	2.27	2.42	-0.16
Martin ratio: Return relative to average drawdown	9.16	10.11	-0.95

FELSX vs. FWLSX - Sharpe Ratio Comparison

The current FELSX Sharpe Ratio is 1.58, which is comparable to the FWLSX Sharpe Ratio of 1.62. The chart below compares the historical Sharpe Ratios of FELSX and FWLSX, 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

FELSX vs. FWLSX - Drawdown Comparison

The maximum FELSX drawdown since its inception was -23.65%, smaller than the maximum FWLSX drawdown of -31.32%. Use the drawdown chart below to compare losses from any high point for FELSX and FWLSX.

Drawdown Indicators

	FELSX	FWLSX	Difference
Max Drawdown Largest peak-to-trough decline	-23.65%	-31.32%	+7.67%
Max Drawdown (1Y) Largest decline over 1 year	-6.24%	-9.49%	+3.25%
Max Drawdown (3Y) Largest decline over 3 years	-8.86%	-15.38%	+6.52%
Max Drawdown (5Y) Largest decline over 5 years	-23.65%	-27.40%	+3.75%
Current Drawdown Current decline from peak	-1.78%	-2.17%	+0.39%
Average Drawdown Average peak-to-trough decline	-4.54%	-5.36%	+0.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.54%	2.27%	-0.73%

Volatility

FELSX vs. FWLSX - Volatility Comparison

The current volatility for Fidelity Flex Freedom Blend 2025 Fund (FELSX) is 2.72%, while Fidelity Flex Freedom Blend 2060 Fund (FWLSX) has a volatility of 4.39%. This indicates that FELSX experiences smaller price fluctuations and is considered to be less risky than FWLSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FELSX	FWLSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.72%	4.39%	-1.67%
Volatility (6M) Calculated over the trailing 6-month period	7.71%	12.17%	-4.46%
Volatility (1Y) Calculated over the trailing 1-year period	8.98%	14.21%	-5.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.35%	15.36%	-5.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.53%	16.10%	-5.57%

FELSX vs. FWLSX - Expense Ratio Comparison

FELSX has a 0.00% expense ratio, which is lower than FWLSX's 0.00% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

FELSX vs. FWLSX - Dividend Comparison

FELSX's dividend yield for the trailing twelve months is around 13.31%, more than FWLSX's 4.08% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FELSX Fidelity Flex Freedom Blend 2025 Fund	13.31%	7.27%	9.85%	2.83%	4.58%	6.54%	4.96%	6.38%	6.52%	2.72%
FWLSX Fidelity Flex Freedom Blend 2060 Fund	4.08%	3.14%	7.07%	2.36%	5.59%	9.05%	5.80%	7.02%	8.16%	3.09%

Frequently Asked Questions

Can I hold both FELSX and FWLSX in my portfolio?

With a correlation of 0.97, FELSX and FWLSX 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, FELSX or FWLSX?

FWLSX has higher volatility (4.39%) compared to FELSX (2.72%). In terms of maximum drawdown, FELSX dropped -23.65% vs FWLSX's -31.32%.

Which has better risk-adjusted returns?

FWLSX currently has the higher Sharpe Ratio (1.62 vs 1.58), 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.