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FFFFX vs. FBIFX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FFFFX vs. FBIFX

Last updated Jun 3, 2026

FFFFX (Fidelity Freedom 2040 Fund) and FBIFX (Fidelity Freedom Index 2040 Fund Investor Class) are both Target Retirement Date funds from Fidelity. Over the past 10 years, FFFFX returned 11.92%/yr vs 11.44%/yr for FBIFX. With a 0.99 correlation, they move nearly in lockstep. FFFFX charges 0.75%/yr vs 0.12%/yr for FBIFX.

Performance

FFFFX vs. FBIFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Freedom 2040 Fund (FFFFX) and Fidelity Freedom Index 2040 Fund Investor Class (FBIFX). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, FFFFX achieves a 11.51% return, which is significantly higher than FBIFX's 10.54% return. Both investments have delivered pretty close results over the past 10 years, with FFFFX having a 11.92% annualized return and FBIFX not far behind at 11.44%.

FFFFX

1D
0.21%
1M
3.54%
YTD
11.51%
6M
13.54%
1Y
27.63%
3Y*
18.91%
5Y*
9.29%
10Y*
11.92%

FBIFX

1D
0.32%
1M
4.08%
YTD
10.54%
6M
11.65%
1Y
25.42%
3Y*
17.92%
5Y*
9.08%
10Y*
11.44%
*Multi-year figures are annualized to reflect compound growth (CAGR)

FFFFX vs. FBIFX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
FFFFX
Fidelity Freedom 2040 Fund		11.51%22.01%13.20%20.06%-18.31%16.57%18.24%25.38%-8.94%22.26%
FBIFX
Fidelity Freedom Index 2040 Fund Investor Class		10.54%19.88%13.32%19.37%-18.16%15.88%16.47%25.95%-7.24%20.58%

Correlation

The correlation between FFFFX and FBIFX is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.99

Correlation (3Y)
Calculated over the trailing 3-year period

0.99

Correlation (5Y)
Calculated over the trailing 5-year period

0.99

Correlation (10Y)
Calculated over the trailing 10-year period

0.99

Correlation (All Time)
Calculated using the full available price history since Oct 6, 2009

0.99

The correlation between FFFFX and FBIFX has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.

FFFFX vs. FBIFX - Sectors Allocation Comparison

Sectors
FFFFX
FBIFX

Technology

23.3%
25.9%

Financial Services

17.0%
17.1%

Industrials

15.4%
11.7%

Consumer Cyclical

9.1%
9.4%

Healthcare

8.8%
9.1%

Communication Services

7.9%
8.0%

Basic Materials

5.6%
4.1%

Energy

5.6%
4.7%

Consumer Defensive

4.5%
5.2%

Utilities

1.8%
2.8%

Real Estate

1.1%
2.1%

Technology

FFFFX
23.3%
FBIFX
25.9%

Financial Services

FFFFX
17.0%
FBIFX
17.1%

Industrials

FFFFX
15.4%
FBIFX
11.7%

Consumer Cyclical

FFFFX
9.1%
FBIFX
9.4%

Healthcare

FFFFX
8.8%
FBIFX
9.1%

Communication Services

FFFFX
7.9%
FBIFX
8.0%

Basic Materials

FFFFX
5.6%
FBIFX
4.1%

Energy

FFFFX
5.6%
FBIFX
4.7%

Consumer Defensive

FFFFX
4.5%
FBIFX
5.2%

Utilities

FFFFX
1.8%
FBIFX
2.8%

Real Estate

FFFFX
1.1%
FBIFX
2.1%

Compare stocks, funds, or ETFs

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Fidelity Freedom 2040 Fund

Fidelity Freedom Index 2040 Fund Investor Class

Often compared with FFFFX:
FFFFX vs. FXAIXFFFFX vs. VOOFFFFX vs. vtivxFFFFX vs. IVVFFFFX vs. OIEJXFFFFX vs. FELIXFFFFX vs. FSIAX
Often compared with FBIFX:
FBIFX vs. VFORXFBIFX vs. FXAIXFBIFX vs. FHARXFBIFX vs. VOOFBIFX vs. ITDDFBIFX vs. VTIFBIFX vs. FNILX

Return for Risk

FFFFX vs. FBIFX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FFFFX
FFFFX Risk / Return Rank: 7171
Overall Rank
FFFFX Sharpe Ratio Rank: 7373
Sharpe Ratio Rank
FFFFX Sortino Ratio Rank: 6868
Sortino Ratio Rank
FFFFX Omega Ratio Rank: 7070
Omega Ratio Rank
FFFFX Calmar Ratio Rank: 6969
Calmar Ratio Rank
FFFFX Martin Ratio Rank: 7575
Martin Ratio Rank
FBIFX
FBIFX Risk / Return Rank: 7171
Overall Rank
FBIFX Sharpe Ratio Rank: 7474
Sharpe Ratio Rank
FBIFX Sortino Ratio Rank: 7070
Sortino Ratio Rank
FBIFX Omega Ratio Rank: 6969
Omega Ratio Rank
FBIFX Calmar Ratio Rank: 6969
Calmar Ratio Rank
FBIFX Martin Ratio Rank: 7474
Martin Ratio Rank
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. FBIFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Freedom 2040 Fund (FFFFX) and Fidelity Freedom Index 2040 Fund Investor Class (FBIFX). 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.

FFFFXFBIFXDifference

Sharpe ratio

Return per unit of total volatility

2.49

2.50

-0.01

Sortino ratio

Return per unit of downside risk

3.44

3.48

-0.05

Omega ratio

Gain probability vs. loss probability

1.47

1.46

0.00

Calmar ratio

Return relative to maximum drawdown

3.22

3.21

+0.01

Martin ratio

Return relative to average drawdown

14.21

14.05

+0.15

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. FBIFX - Sharpe Ratio Comparison

The current FFFFX Sharpe Ratio is 2.49, which is comparable to the FBIFX Sharpe Ratio of 2.50. The chart below compares the historical Sharpe Ratios of FFFFX and FBIFX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

FFFFXFBIFXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.49

2.50

-0.01

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.65

0.66

-0.01

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.79

0.77

+0.02

Sharpe Ratio (All Time)

Calculated using the full available price history

0.38

0.72

-0.34

Drawdowns

FFFFX vs. FBIFX - Drawdown Comparison

The maximum FFFFX drawdown since its inception was -54.10%, which is greater than FBIFX's maximum drawdown of -30.73%. Use the drawdown chart below to compare losses from any high point for FFFFX and FBIFX.

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Drawdown Indicators

FFFFXFBIFXDifference

Max Drawdown

Largest peak-to-trough decline

-54.10%

-30.73%

-23.37%

Max Drawdown (1Y)

Largest decline over 1 year

-8.71%

-8.10%

-0.61%

Max Drawdown (3Y)

Largest decline over 3 years

-14.08%

-13.45%

-0.63%

Max Drawdown (5Y)

Largest decline over 5 years

-27.21%

-26.12%

-1.09%

Max Drawdown (10Y)

Largest decline over 10 years

-30.93%

-30.73%

-0.20%

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-11.15%

-4.12%

-7.03%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.97%

1.85%

+0.12%

Volatility

FFFFX vs. FBIFX - Volatility Comparison

Fidelity Freedom 2040 Fund (FFFFX) has a higher volatility of 3.75% compared to Fidelity Freedom Index 2040 Fund Investor Class (FBIFX) at 3.19%. This indicates that FFFFX's price experiences larger fluctuations and is considered to be riskier than FBIFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FFFFXFBIFXDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.75%

3.19%

+0.56%

Volatility (6M)

Calculated over the trailing 6-month period

9.35%

8.39%

+0.96%

Volatility (1Y)

Calculated over the trailing 1-year period

11.41%

10.45%

+0.96%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.37%

13.78%

+0.59%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.07%

14.88%

+0.19%

FFFFX vs. FBIFX - Expense Ratio Comparison

FFFFX has a 0.75% expense ratio, which is higher than FBIFX's 0.12% expense ratio.

Dividends

FFFFX vs. FBIFX - Dividend Comparison

FFFFX's dividend yield for the trailing twelve months is around 6.39%, more than FBIFX's 2.22% yield.

PositionTTM20252024202320222021202020192018201720162015
FBIFX
Fidelity Freedom Index 2040 Fund Investor Class		2.22%2.35%2.20%1.97%2.08%1.96%2.00%18.26%2.22%1.82%1.98%2.02%
FFFFX
Fidelity Freedom 2040 Fund		6.39%5.07%2.63%1.72%12.33%12.09%5.67%6.69%7.97%4.37%4.05%4.81%

Frequently Asked Questions

With a correlation of 0.99, FFFFX and FBIFX 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.

FFFFX has higher volatility (3.75%) compared to FBIFX (3.19%). In terms of maximum drawdown, FFFFX dropped -54.10% vs FBIFX's -30.73%.

FBIFX currently has the higher Sharpe Ratio (2.50 vs 2.49), 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.

Portfolio Optimizer

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