FFFFX vs. ^GSPC

Last updated Apr 2, 2026

Compare and contrast key facts about Fidelity Freedom 2040 Fund (FFFFX) and S&P 500 Index (^GSPC).

FFFFX is managed by Fidelity. It was launched on Sep 6, 2000.

Performance

FFFFX vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Freedom 2040 Fund (FFFFX) and S&P 500 Index (^GSPC). The values are adjusted to include any dividend payments, if applicable.

FFFFX vs. ^GSPC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FFFFX Fidelity Freedom 2040 Fund	-0.30%	22.01%	13.20%	20.06%	-18.31%	16.57%	18.24%	25.38%	-8.94%	22.26%
^GSPC S&P 500 Index	-3.95%	16.39%	23.31%	24.23%	-19.44%	26.89%	16.26%	28.88%	-6.24%	19.42%

Returns By Period

In the year-to-date period, FFFFX achieves a -0.30% return, which is significantly higher than ^GSPC's -3.95% return. Over the past 10 years, FFFFX has underperformed ^GSPC with an annualized return of 10.96%, while ^GSPC has yielded a comparatively higher 12.24% annualized return.

FFFFX

• 1D: 2.69%
• 1M: -5.26%
• YTD: -0.30%
• 6M: 2.81%
• 1Y: 20.81%
• 3Y*: 15.62%
• 5Y*: 8.00%
• 10Y*: 10.96%

^GSPC

• 1D: 0.72%
• 1M: -4.45%
• YTD: -3.95%
• 6M: -2.02%
• 1Y: 16.73%
• 3Y*: 16.96%
• 5Y*: 10.34%
• 10Y*: 12.24%

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

Return for Risk

FFFFX vs. ^GSPC — Risk / Return Rank

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

FFFFX

FFFFX Risk / Return Rank: 81
FFFFX Sharpe Ratio Rank: 78
FFFFX Sortino Ratio Rank: 80
FFFFX Omega Ratio Rank: 79
FFFFX Calmar Ratio Rank: 83
FFFFX Martin Ratio Rank: 86

^GSPC

^GSPC Risk / Return Rank: 67
^GSPC Sharpe Ratio Rank: 63
^GSPC Sortino Ratio Rank: 64
^GSPC Omega Ratio Rank: 69
^GSPC Calmar Ratio Rank: 60
^GSPC Martin Ratio Rank: 77

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.

FFFFX vs. ^GSPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Freedom 2040 Fund (FFFFX) and S&P 500 Index (^GSPC). 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.

	FFFFX	^GSPC	Difference
Sharpe ratio Return per unit of total volatility	1.46	0.92	+0.54
Sortino ratio Return per unit of downside risk	2.07	1.41	+0.65
Omega ratio Gain probability vs. loss probability	1.31	1.21	+0.10
Calmar ratio Return relative to maximum drawdown	2.05	1.41	+0.64
Martin ratio Return relative to average drawdown	9.19	6.61	+2.58
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FFFFX vs. ^GSPC - Sharpe Ratio Comparison

The current FFFFX Sharpe Ratio is 1.46, which is higher than the ^GSPC Sharpe Ratio of 0.92. The chart below compares the historical Sharpe Ratios of FFFFX and ^GSPC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FFFFX	^GSPC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.46	0.92	+0.54
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.56	0.61	-0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.73	0.68	+0.05
Sharpe Ratio (All Time) Calculated using the full available price history	0.36	0.46	-0.10

Correlation

The correlation between FFFFX and ^GSPC is 0.95, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Drawdowns

FFFFX vs. ^GSPC - Drawdown Comparison

The maximum FFFFX drawdown since its inception was -54.10%, roughly equal to the maximum ^GSPC drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for FFFFX and ^GSPC.

Drawdown Indicators

	FFFFX	^GSPC	Difference
Max Drawdown Largest peak-to-trough decline	-54.10%	-56.78%	+2.68%
Max Drawdown (1Y) Largest decline over 1 year	-10.33%	-12.14%	+1.81%
Max Drawdown (5Y) Largest decline over 5 years	-27.21%	-25.43%	-1.78%
Max Drawdown (10Y) Largest decline over 10 years	-30.93%	-33.92%	+2.99%
Current Drawdown Current decline from peak	-6.25%	-5.78%	-0.47%
Average Drawdown Average peak-to-trough decline	-11.21%	-10.75%	-0.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.31%	2.60%	-0.29%

Volatility

FFFFX vs. ^GSPC - Volatility Comparison

Fidelity Freedom 2040 Fund (FFFFX) has a higher volatility of 5.98% compared to S&P 500 Index (^GSPC) at 5.37%. This indicates that FFFFX's price experiences larger fluctuations and is considered to be riskier than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FFFFX	^GSPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.98%	5.37%	+0.61%
Volatility (6M) Calculated over the trailing 6-month period	8.94%	9.55%	-0.61%
Volatility (1Y) Calculated over the trailing 1-year period	14.70%	18.33%	-3.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.31%	16.90%	-2.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.02%	18.05%	-3.03%