FFGZX vs. FFEZX

Last updated Jun 23, 2026

FFGZX (Fidelity Freedom Index Income Fund Institutional Premium Class) and FFEZX (Fidelity Freedom Index 2035 Fund Institutional Premium Class) are both Target Retirement Date funds from Fidelity. Over the past 10 years, FFGZX returned 4.26%/yr vs 10.44%/yr for FFEZX. A 0.78 correlation means they provide meaningful diversification when combined. Both charge a 0.08% expense ratio.

Performance

FFGZX vs. FFEZX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Freedom Index Income Fund Institutional Premium Class (FFGZX) and Fidelity Freedom Index 2035 Fund Institutional Premium Class (FFEZX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FFGZX achieves a 3.98% return, which is significantly lower than FFEZX's 8.69% return. Over the past 10 years, FFGZX has underperformed FFEZX with an annualized return of 4.26%, while FFEZX has yielded a comparatively higher 10.44% annualized return.

FFGZX

• 1D: 0.47%
• 1M: 0.81%
• YTD: 3.98%
• 6M: 4.04%
• 1Y: 9.64%
• 3Y*: 7.32%
• 5Y*: 3.15%
• 10Y*: 4.26%

FFEZX

• 1D: 0.91%
• 1M: 1.62%
• YTD: 8.69%
• 6M: 8.66%
• 1Y: 21.05%
• 3Y*: 14.52%
• 5Y*: 7.72%
• 10Y*: 10.44%

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

FFGZX vs. FFEZX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FFGZX Fidelity Freedom Index Income Fund Institutional Premium Class	3.98%	9.13%	5.02%	8.32%	-11.07%	2.85%	8.59%	10.68%	-0.80%	6.73%
FFEZX Fidelity Freedom Index 2035 Fund Institutional Premium Class	8.69%	17.36%	11.27%	17.31%	-17.55%	13.80%	15.58%	24.92%	-6.72%	20.40%

Correlation

The correlation between FFGZX and FFEZX is 0.91, 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	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (5Y) Calculated over the trailing 5-year period	0.79
Correlation (10Y) Calculated over the trailing 10-year period	0.77
Correlation (All Time) Calculated using the full available price history since Jun 29, 2015	0.78

The correlation between FFGZX and FFEZX shifts across timeframes, from 0.77 (10 years) to 0.91 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

FFGZX vs. FFEZX — Risk / Return Rank

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

FFGZX

FFGZX Risk / Return Rank: 71
FFGZX Sharpe Ratio Rank: 71
FFGZX Sortino Ratio Rank: 75
FFGZX Omega Ratio Rank: 77
FFGZX Calmar Ratio Rank: 63
FFGZX Martin Ratio Rank: 70

FFEZX

FFEZX Risk / Return Rank: 68
FFEZX Sharpe Ratio Rank: 69
FFEZX Sortino Ratio Rank: 67
FFEZX Omega Ratio Rank: 68
FFEZX Calmar Ratio Rank: 66
FFEZX Martin Ratio Rank: 71

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.

FFGZX vs. FFEZX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Freedom Index Income Fund Institutional Premium Class (FFGZX) and Fidelity Freedom Index 2035 Fund Institutional Premium Class (FFEZX). 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.

	FFGZX	FFEZX	Difference
Sharpe ratio: Return per unit of total volatility	2.25	2.22	+0.03
Sortino ratio: Return per unit of downside risk	3.29	3.11	+0.18
Omega ratio: Gain probability vs. loss probability	1.45	1.42	+0.04
Calmar ratio: Return relative to maximum drawdown	2.91	3.00	-0.09
Martin ratio: Return relative to average drawdown	12.65	12.79	-0.14

FFGZX vs. FFEZX - Sharpe Ratio Comparison

The current FFGZX Sharpe Ratio is 2.25, which is comparable to the FFEZX Sharpe Ratio of 2.22. The chart below compares the historical Sharpe Ratios of FFGZX and FFEZX, 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

FFGZX vs. FFEZX - Drawdown Comparison

The maximum FFGZX drawdown since its inception was -14.94%, smaller than the maximum FFEZX drawdown of -28.46%. Use the drawdown chart below to compare losses from any high point for FFGZX and FFEZX.

Drawdown Indicators

	FFGZX	FFEZX	Difference
Max Drawdown Largest peak-to-trough decline	-14.94%	-28.46%	+13.52%
Max Drawdown (1Y) Largest decline over 1 year	-3.33%	-6.95%	+3.62%
Max Drawdown (3Y) Largest decline over 3 years	-4.76%	-11.02%	+6.26%
Max Drawdown (5Y) Largest decline over 5 years	-14.94%	-24.83%	+9.89%
Max Drawdown (10Y) Largest decline over 10 years	-14.94%	-28.46%	+13.52%
Current Drawdown Current decline from peak	-0.29%	-0.28%	-0.01%
Average Drawdown Average peak-to-trough decline	-2.26%	-4.49%	+2.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.76%	1.63%	-0.87%

Volatility

FFGZX vs. FFEZX - Volatility Comparison

The current volatility for Fidelity Freedom Index Income Fund Institutional Premium Class (FFGZX) is 1.92%, while Fidelity Freedom Index 2035 Fund Institutional Premium Class (FFEZX) has a volatility of 3.87%. This indicates that FFGZX experiences smaller price fluctuations and is considered to be less risky than FFEZX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FFGZX	FFEZX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.92%	3.87%	-1.95%
Volatility (6M) Calculated over the trailing 6-month period	3.69%	7.87%	-4.18%
Volatility (1Y) Calculated over the trailing 1-year period	4.31%	9.38%	-5.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.14%	11.99%	-6.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.46%	13.39%	-8.93%

FFGZX vs. FFEZX - Expense Ratio Comparison

Both FFGZX and FFEZX have an expense ratio of 0.08%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

FFGZX vs. FFEZX - Dividend Comparison

FFGZX's dividend yield for the trailing twelve months is around 3.22%, more than FFEZX's 2.59% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FFEZX Fidelity Freedom Index 2035 Fund Institutional Premium Class	2.59%	2.80%	2.54%	2.13%	2.08%	2.04%	2.18%	16.18%	2.27%	1.85%	2.01%	2.04%
FFGZX Fidelity Freedom Index Income Fund Institutional Premium Class	3.22%	3.30%	3.18%	2.88%	3.11%	2.10%	2.22%	7.35%	3.00%	1.95%	1.56%	1.06%

Frequently Asked Questions

Can I hold both FFGZX and FFEZX in my portfolio?

With a correlation of 0.91, FFGZX and FFEZX 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, FFGZX or FFEZX?

FFEZX has higher volatility (3.87%) compared to FFGZX (1.92%). In terms of maximum drawdown, FFGZX dropped -14.94% vs FFEZX's -28.46%.

Which has better risk-adjusted returns?

FFGZX currently has the higher Sharpe Ratio (2.25 vs 2.22), 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.