FFGZX vs. FRIMX

Last updated Jun 25, 2026

FFGZX (Fidelity Freedom Index Income Fund Institutional Premium Class) and FRIMX (Fidelity Advisor Managed Retirement Income Fund Class I) are both Target Retirement Date funds. Over the past 10 years, FFGZX returned 4.25%/yr vs 4.26%/yr for FRIMX. Their correlation of 0.95 suggests significant overlap in exposure. FFGZX charges 0.08%/yr vs 0.45%/yr for FRIMX.

Performance

FFGZX vs. FRIMX - 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 Advisor Managed Retirement Income Fund Class I (FRIMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FFGZX achieves a 3.32% return, which is significantly lower than FRIMX's 3.59% return. Both investments have delivered pretty close results over the past 10 years, with FFGZX having a 4.25% annualized return and FRIMX not far ahead at 4.26%.

FFGZX

• 1D: -0.47%
• 1M: 0.18%
• YTD: 3.32%
• 6M: 3.06%
• 1Y: 8.23%
• 3Y*: 7.23%
• 5Y*: 2.97%
• 10Y*: 4.25%

FRIMX

• 1D: 0.00%
• 1M: 0.65%
• YTD: 3.59%
• 6M: 3.41%
• 1Y: 8.60%
• 3Y*: 7.33%
• 5Y*: 2.73%
• 10Y*: 4.26%

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

FFGZX vs. FRIMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FFGZX Fidelity Freedom Index Income Fund Institutional Premium Class	3.32%	9.13%	5.02%	8.32%	-11.07%	2.85%	8.59%	10.68%	-0.80%	6.73%
FRIMX Fidelity Advisor Managed Retirement Income Fund Class I	3.59%	9.94%	4.30%	8.06%	-11.66%	2.78%	8.57%	10.57%	-1.82%	7.08%

Correlation

The correlation between FFGZX and FRIMX is 0.95 - 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	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Jun 29, 2015	0.95

The correlation between FFGZX and FRIMX has been stable across timeframes, ranging from 0.95 to 0.97 - a consistent structural relationship.

Return for Risk

FFGZX vs. FRIMX — Risk / Return Rank

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

FFGZX

FFGZX Risk / Return Rank: 60
FFGZX Sharpe Ratio Rank: 58
FFGZX Sortino Ratio Rank: 61
FFGZX Omega Ratio Rank: 65
FFGZX Calmar Ratio Rank: 53
FFGZX Martin Ratio Rank: 63

FRIMX

FRIMX Risk / Return Rank: 64
FRIMX Sharpe Ratio Rank: 64
FRIMX Sortino Ratio Rank: 67
FRIMX Omega Ratio Rank: 73
FRIMX Calmar Ratio Rank: 55
FRIMX Martin Ratio Rank: 61

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. FRIMX - 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 Advisor Managed Retirement Income Fund Class I (FRIMX). 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	FRIMX	Difference
Sharpe ratio: Return per unit of total volatility	2.01	2.10	-0.09
Sortino ratio: Return per unit of downside risk	2.94	3.04	-0.11
Omega ratio: Gain probability vs. loss probability	1.40	1.43	-0.03
Calmar ratio: Return relative to maximum drawdown	2.62	2.65	-0.03
Martin ratio: Return relative to average drawdown	11.35	11.11	+0.24

FFGZX vs. FRIMX - Sharpe Ratio Comparison

The current FFGZX Sharpe Ratio is 2.01, which is comparable to the FRIMX Sharpe Ratio of 2.10. The chart below compares the historical Sharpe Ratios of FFGZX and FRIMX, 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. FRIMX - Drawdown Comparison

The maximum FFGZX drawdown since its inception was -14.94%, smaller than the maximum FRIMX drawdown of -33.73%. Use the drawdown chart below to compare losses from any high point for FFGZX and FRIMX.

Drawdown Indicators

	FFGZX	FRIMX	Difference
Max Drawdown Largest peak-to-trough decline	-14.94%	-33.73%	+18.79%
Max Drawdown (1Y) Largest decline over 1 year	-3.33%	-3.44%	+0.11%
Max Drawdown (3Y) Largest decline over 3 years	-4.76%	-4.97%	+0.21%
Max Drawdown (5Y) Largest decline over 5 years	-14.94%	-16.12%	+1.18%
Max Drawdown (10Y) Largest decline over 10 years	-14.94%	-16.12%	+1.18%
Current Drawdown Current decline from peak	-0.92%	-0.44%	-0.48%
Average Drawdown Average peak-to-trough decline	-2.26%	-3.70%	+1.44%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.77%	0.82%	-0.05%

Volatility

FFGZX vs. FRIMX - Volatility Comparison

Fidelity Freedom Index Income Fund Institutional Premium Class (FFGZX) has a higher volatility of 1.93% compared to Fidelity Advisor Managed Retirement Income Fund Class I (FRIMX) at 1.67%. This indicates that FFGZX's price experiences larger fluctuations and is considered to be riskier than FRIMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FFGZX	FRIMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.93%	1.67%	+0.26%
Volatility (6M) Calculated over the trailing 6-month period	3.71%	3.67%	+0.04%
Volatility (1Y) Calculated over the trailing 1-year period	4.34%	4.35%	-0.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.14%	5.32%	-0.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.46%	4.52%	-0.06%

FFGZX vs. FRIMX - Expense Ratio Comparison

FFGZX has a 0.08% expense ratio, which is lower than FRIMX's 0.45% expense ratio.

Dividends

FFGZX vs. FRIMX - Dividend Comparison

FFGZX's dividend yield for the trailing twelve months is around 3.24%, which matches FRIMX's 3.24% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FFGZX Fidelity Freedom Index Income Fund Institutional Premium Class	3.24%	3.30%	3.18%	2.88%	3.11%	2.10%	2.22%	7.35%	3.00%	1.95%	1.56%	1.06%
FRIMX Fidelity Advisor Managed Retirement Income Fund Class I	3.24%	3.11%	3.01%	2.82%	4.52%	3.54%	2.41%	2.56%	4.67%	8.56%	1.67%	1.68%

Frequently Asked Questions

Can I hold both FFGZX and FRIMX in my portfolio?

With a correlation of 0.95, FFGZX and FRIMX 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 FRIMX?

FFGZX has higher volatility (1.93%) compared to FRIMX (1.67%). In terms of maximum drawdown, FFGZX dropped -14.94% vs FRIMX's -33.73%.

Which has better risk-adjusted returns?

FRIMX currently has the higher Sharpe Ratio (2.10 vs 2.01), 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.