FFIKX vs. FFGZX

Last updated Jun 4, 2026

FFIKX (Fidelity Freedom Index 2065 Fund Institutional Premium Class) and FFGZX (Fidelity Freedom Index Income Fund Institutional Premium Class) are both Target Retirement Date funds from Fidelity. Over the past 5 years, FFIKX returned 10.15%/yr vs 3.28%/yr for FFGZX. A 0.72 correlation means they provide meaningful diversification when combined. Both charge a 0.08% expense ratio.

Performance

FFIKX vs. FFGZX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Freedom Index 2065 Fund Institutional Premium Class (FFIKX) and Fidelity Freedom Index Income Fund Institutional Premium Class (FFGZX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FFIKX achieves a 12.61% return, which is significantly higher than FFGZX's 4.28% return.

FFIKX

• 1D: 0.41%
• 1M: 5.60%
• YTD: 12.61%
• 6M: 13.55%
• 1Y: 28.72%
• 3Y*: 19.61%
• 5Y*: 10.15%
• 10Y*: —

FFGZX

• 1D: 0.16%
• 1M: 1.75%
• YTD: 4.28%
• 6M: 4.42%
• 1Y: 10.55%
• 3Y*: 7.68%
• 5Y*: 3.28%
• 10Y*: 4.28%

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

FFIKX vs. FFGZX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FFIKX Fidelity Freedom Index 2065 Fund Institutional Premium Class	12.61%	21.48%	14.23%	19.88%	-18.16%	15.96%	16.50%	8.57%
FFGZX Fidelity Freedom Index Income Fund Institutional Premium Class	4.28%	9.13%	5.02%	8.32%	-11.07%	2.85%	8.59%	3.32%

Correlation

The correlation between FFIKX and FFGZX is 0.83, 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	0.83
Correlation (3Y) Calculated over the trailing 3-year period	0.76
Correlation (5Y) Calculated over the trailing 5-year period	0.73
Correlation (All Time) Calculated using the full available price history since Jul 1, 2019	0.72

The correlation between FFIKX and FFGZX shifts across timeframes, from 0.72 (all time) to 0.83 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

FFIKX vs. FFGZX — Risk / Return Rank

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

FFIKX

FFIKX Risk / Return Rank: 71
FFIKX Sharpe Ratio Rank: 74
FFIKX Sortino Ratio Rank: 69
FFIKX Omega Ratio Rank: 67
FFIKX Calmar Ratio Rank: 69
FFIKX Martin Ratio Rank: 75

FFGZX

FFGZX Risk / Return Rank: 78
FFGZX Sharpe Ratio Rank: 82
FFGZX Sortino Ratio Rank: 84
FFGZX Omega Ratio Rank: 82
FFGZX Calmar Ratio Rank: 68
FFGZX Martin Ratio Rank: 75

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.

FFIKX vs. FFGZX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Freedom Index 2065 Fund Institutional Premium Class (FFIKX) and Fidelity Freedom Index Income Fund Institutional Premium Class (FFGZX). 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.

	FFIKX	FFGZX	Difference
Sharpe ratio: Return per unit of total volatility	2.49	2.64	-0.15
Sortino ratio: Return per unit of downside risk	3.45	3.97	-0.52
Omega ratio: Gain probability vs. loss probability	1.46	1.54	-0.08
Calmar ratio: Return relative to maximum drawdown	3.21	3.18	+0.03
Martin ratio: Return relative to average drawdown	14.25	14.23	+0.02
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FFIKX vs. FFGZX - Sharpe Ratio Comparison

The current FFIKX Sharpe Ratio is 2.49, which is comparable to the FFGZX Sharpe Ratio of 2.64. The chart below compares the historical Sharpe Ratios of FFIKX and FFGZX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FFIKX	FFGZX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.49	2.64	-0.15
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.71	0.65	+0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.97	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.74	0.93	-0.19

Drawdowns

FFIKX vs. FFGZX - Drawdown Comparison

The maximum FFIKX drawdown since its inception was -30.68%, which is greater than FFGZX's maximum drawdown of -14.94%. Use the drawdown chart below to compare losses from any high point for FFIKX and FFGZX.

Drawdown Indicators

	FFIKX	FFGZX	Difference
Max Drawdown Largest peak-to-trough decline	-30.68%	-14.94%	-15.74%
Max Drawdown (1Y) Largest decline over 1 year	-9.08%	-3.33%	-5.75%
Max Drawdown (3Y) Largest decline over 3 years	-14.70%	-4.76%	-9.94%
Max Drawdown (5Y) Largest decline over 5 years	-26.22%	-14.94%	-11.28%
Max Drawdown (10Y) Largest decline over 10 years	—	-14.94%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-5.47%	-2.26%	-3.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.04%	0.74%	+1.30%

Volatility

FFIKX vs. FFGZX - Volatility Comparison

Fidelity Freedom Index 2065 Fund Institutional Premium Class (FFIKX) has a higher volatility of 3.60% compared to Fidelity Freedom Index Income Fund Institutional Premium Class (FFGZX) at 1.49%. This indicates that FFIKX's price experiences larger fluctuations and is considered to be riskier than FFGZX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FFIKX	FFGZX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.60%	1.49%	+2.11%
Volatility (6M) Calculated over the trailing 6-month period	9.51%	3.34%	+6.17%
Volatility (1Y) Calculated over the trailing 1-year period	11.72%	4.01%	+7.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.41%	5.08%	+9.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.82%	4.43%	+12.39%

FFIKX vs. FFGZX - Expense Ratio Comparison

Both FFIKX and FFGZX 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

FFIKX vs. FFGZX - Dividend Comparison

FFIKX's dividend yield for the trailing twelve months is around 1.68%, less than FFGZX's 3.21% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FFGZX Fidelity Freedom Index Income Fund Institutional Premium Class	3.21%	3.30%	3.18%	2.88%	3.11%	2.10%	2.22%	7.35%	3.00%	1.95%	1.56%	1.06%
FFIKX Fidelity Freedom Index 2065 Fund Institutional Premium Class	1.68%	1.93%	1.92%	1.91%	2.01%	1.80%	1.81%	2.05%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FFIKX and FFGZX in my portfolio?

FFIKX and FFGZX have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FFIKX or FFGZX?

FFIKX has higher volatility (3.60%) compared to FFGZX (1.49%). In terms of maximum drawdown, FFIKX dropped -30.68% vs FFGZX's -14.94%.

Which has better risk-adjusted returns?

FFGZX currently has the higher Sharpe Ratio (2.64 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.