FELSX vs. IRSOX

Last updated Jun 23, 2026

FELSX (Fidelity Flex Freedom Blend 2025 Fund) and IRSOX (Voya Target Retirement 2040 Fund) are both Target Retirement Date funds. Over the past 5 years, FELSX returned 7.30%/yr vs 9.58%/yr for IRSOX. Their correlation of 0.94 suggests significant overlap in exposure. FELSX charges 0.00%/yr vs 0.23%/yr for IRSOX.

Performance

FELSX vs. IRSOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Flex Freedom Blend 2025 Fund (FELSX) 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, FELSX achieves a 8.88% return, which is significantly lower than IRSOX's 11.15% return.

FELSX

• 1D: 1.03%
• 1M: 2.17%
• YTD: 8.88%
• 6M: 9.02%
• 1Y: 19.83%
• 3Y*: 14.70%
• 5Y*: 7.30%
• 10Y*: —

IRSOX

• 1D: 1.00%
• 1M: 1.72%
• YTD: 11.15%
• 6M: 11.03%
• 1Y: 25.96%
• 3Y*: 17.22%
• 5Y*: 9.58%
• 10Y*: 11.25%

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

FELSX vs. IRSOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FELSX Fidelity Flex Freedom Blend 2025 Fund	8.88%	16.22%	13.48%	14.56%	-16.84%	10.29%	14.86%	19.81%	-5.51%	7.55%
IRSOX Voya Target Retirement 2040 Fund	11.15%	19.10%	13.74%	19.25%	-18.43%	17.65%	16.93%	23.69%	-8.31%	9.29%

Correlation

The correlation between FELSX 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	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (All Time) Calculated using the full available price history since Jun 15, 2017	0.94

The correlation between FELSX and IRSOX has been stable across timeframes, ranging from 0.88 to 0.94 - a consistent structural relationship.

Return for Risk

FELSX vs. IRSOX — Risk / Return Rank

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

FELSX

FELSX Risk / Return Rank: 75
FELSX Sharpe Ratio Rank: 74
FELSX Sortino Ratio Rank: 74
FELSX Omega Ratio Rank: 76
FELSX Calmar Ratio Rank: 73
FELSX Martin Ratio Rank: 77

IRSOX

IRSOX Risk / Return Rank: 81
IRSOX Sharpe Ratio Rank: 82
IRSOX Sortino Ratio Rank: 81
IRSOX Omega Ratio Rank: 77
IRSOX Calmar Ratio Rank: 78
IRSOX Martin Ratio Rank: 88

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.

FELSX vs. IRSOX - Risk-Adjusted Trends Comparison

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

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	IRSOX	Difference
Sharpe ratio: Return per unit of total volatility	2.30	2.46	-0.17
Sortino ratio: Return per unit of downside risk	3.26	3.54	-0.28
Omega ratio: Gain probability vs. loss probability	1.45	1.46	-0.01
Calmar ratio: Return relative to maximum drawdown	3.17	3.34	-0.18
Martin ratio: Return relative to average drawdown	13.44	15.54	-2.10

FELSX vs. IRSOX - Sharpe Ratio Comparison

The current FELSX Sharpe Ratio is 2.30, which is comparable to the IRSOX Sharpe Ratio of 2.46. The chart below compares the historical Sharpe Ratios of FELSX 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.

Drawdowns

FELSX vs. IRSOX - Drawdown Comparison

The maximum FELSX drawdown since its inception was -23.65%, smaller than the maximum IRSOX drawdown of -31.25%. Use the drawdown chart below to compare losses from any high point for FELSX and IRSOX.

Drawdown Indicators

	FELSX	IRSOX	Difference
Max Drawdown Largest peak-to-trough decline	-23.65%	-31.25%	+7.60%
Max Drawdown (1Y) Largest decline over 1 year	-6.24%	-8.38%	+2.14%
Max Drawdown (3Y) Largest decline over 3 years	-8.86%	-13.84%	+4.98%
Max Drawdown (5Y) Largest decline over 5 years	-23.65%	-25.24%	+1.59%
Max Drawdown (10Y) Largest decline over 10 years	—	-31.25%	—
Current Drawdown Current decline from peak	0.00%	-0.46%	+0.46%
Average Drawdown Average peak-to-trough decline	-4.58%	-4.27%	-0.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.47%	1.74%	-0.27%

Volatility

FELSX vs. IRSOX - Volatility Comparison

The current volatility for Fidelity Flex Freedom Blend 2025 Fund (FELSX) is 3.72%, while Voya Target Retirement 2040 Fund (IRSOX) has a volatility of 4.38%. This indicates that FELSX experiences smaller price fluctuations and is considered to be less risky than IRSOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FELSX	IRSOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.72%	4.38%	-0.66%
Volatility (6M) Calculated over the trailing 6-month period	7.36%	9.34%	-1.98%
Volatility (1Y) Calculated over the trailing 1-year period	8.62%	11.38%	-2.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.29%	13.96%	-3.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.54%	14.84%	-4.30%

FELSX vs. IRSOX - Expense Ratio Comparison

FELSX has a 0.00% expense ratio, which is lower than IRSOX's 0.23% 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. IRSOX - Dividend Comparison

FELSX's dividend yield for the trailing twelve months is around 13.07%, more than IRSOX's 12.33% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FELSX Fidelity Flex Freedom Blend 2025 Fund	13.07%	7.27%	9.85%	2.83%	4.58%	6.54%	4.96%	6.38%	6.52%	2.72%	0.00%	0.00%
IRSOX Voya Target Retirement 2040 Fund	12.33%	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 FELSX and IRSOX in my portfolio?

FELSX 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, FELSX or IRSOX?

IRSOX has higher volatility (4.38%) compared to FELSX (3.72%). In terms of maximum drawdown, FELSX dropped -23.65% vs IRSOX's -31.25%.

Which has better risk-adjusted returns?

IRSOX currently has the higher Sharpe Ratio (2.46 vs 2.30), 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.