FFIKX vs. VOO

Last updated Aug 1, 2026

FFIKX (Fidelity Freedom Index 2065 Fund Institutional Premium Class) and VOO (Vanguard S&P 500 ETF) are both funds - FFIKX is a Target Retirement Date fund managed by Fidelity, while VOO is a S&P 500 fund tracking the S&P 500 Index. Over the past 5 years, FFIKX returned 9.31%/yr vs 12.83%/yr for VOO. Their correlation of 0.94 means they have usually moved in the same direction. FFIKX charges 0.08%/yr vs 0.03%/yr for VOO.

Performance

FFIKX vs. VOO - 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 Vanguard S&P 500 ETF (VOO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with FFIKX having a 10.44% return and VOO slightly lower at 10.16%.

FFIKX

• 1D: 2.01%
• 1M: -0.46%
• 6M: 7.36%
• YTD: 10.44%
• 1Y: 22.08%
• 3Y*: 16.55%
• 5Y*: 9.31%
• 10Y*: —
• ALL TIME*: 11.80%

VOO

• 1D: 0.71%
• 1M: 0.26%
• 6M: 8.58%
• YTD: 10.16%
• 1Y: 21.58%
• 3Y*: 19.42%
• 5Y*: 12.83%
• 10Y*: 15.14%
• ALL TIME*: 14.78%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FFIKX Fidelity Freedom Index 2065 Fund Institutional Premium Class	$0.00	$0.00	$0.00
VOO Vanguard S&P 500 ETF	$3.82B	$3.78B	$5.44B

FFIKX vs. VOO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FFIKX Fidelity Freedom Index 2065 Fund Institutional Premium Class	10.44%	21.48%	14.23%	19.88%	-18.16%	15.96%	16.50%	8.57%
VOO Vanguard S&P 500 ETF	10.16%	17.82%	24.98%	26.32%	-18.17%	28.79%	18.32%	11.57%

Correlation

The correlation between FFIKX and VOO is 0.96 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.96
Correlation (3Y) Balances recent behavior with more history.	0.94
Correlation (5Y) Shows whether the relationship held over a longer period.	0.95
Correlation (All Time) Calculated using the full available price history since Jun 28, 2019	0.94

The correlation between FFIKX and VOO has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.

Return for Risk

FFIKX vs. VOO — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FFIKX

FFIKX Risk / Return Rank: 70
FFIKX Sharpe Ratio Rank: 69
FFIKX Sortino Ratio Rank: 66
FFIKX Omega Ratio Rank: 66
FFIKX Calmar Ratio Rank: 71
FFIKX Martin Ratio Rank: 78

VOO

VOO Risk / Return Rank: 68
VOO Sharpe Ratio Rank: 68
VOO Sortino Ratio Rank: 65
VOO Omega Ratio Rank: 66
VOO Calmar Ratio Rank: 64
VOO Martin Ratio Rank: 76

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FFIKX vs. VOO - 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 Vanguard S&P 500 ETF (VOO). 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.

	FFIKX	VOO	Difference
Sharpe ratio: Return per unit of total volatility	1.57	1.53	+0.03
Sortino ratio: Return per unit of downside risk	2.21	2.13	+0.08
Omega ratio: Gain probability vs. loss probability	1.28	1.28	+0.01
Calmar ratio: Return relative to maximum drawdown	2.25	2.21	+0.04
Martin ratio: Return relative to average drawdown	9.36	9.44	-0.08

FFIKX vs. VOO - Sharpe Ratio Comparison

The current FFIKX Sharpe Ratio is 1.57, which is comparable to the VOO Sharpe Ratio of 1.53. The chart below compares the historical Sharpe Ratios of FFIKX and VOO, 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

FFIKX vs. VOO - Drawdown Comparison

The maximum FFIKX drawdown since its inception was -30.68%, smaller than the maximum VOO drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for FFIKX and VOO.

Drawdown Indicators

	FFIKX	VOO	Difference
Max Drawdown Largest peak-to-trough decline	-30.68%	-33.99%	+3.31%
Max Drawdown (1Y) Largest decline over 1 year	-9.08%	-8.90%	-0.18%
Max Drawdown (3Y) Largest decline over 3 years	-14.70%	-18.69%	+3.99%
Max Drawdown (5Y) Largest decline over 5 years	-26.22%	-24.52%	-1.70%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.99%	—
Current Drawdown Current decline from peak	-1.93%	-1.38%	-0.55%
Average Drawdown Average peak-to-trough decline	-5.39%	-3.67%	-1.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.18%	2.08%	+0.10%

Volatility

FFIKX vs. VOO - Volatility Comparison

Fidelity Freedom Index 2065 Fund Institutional Premium Class (FFIKX) has a higher volatility of 3.89% compared to Vanguard S&P 500 ETF (VOO) at 3.54%. This indicates that FFIKX's price experiences larger fluctuations and is considered to be riskier than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FFIKX	VOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.89%	3.54%	+0.35%
Volatility (6M) Calculated over the trailing 6-month period	11.04%	10.10%	+0.94%
Volatility (1Y) Calculated over the trailing 1-year period	13.05%	12.82%	+0.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.62%	16.93%	-2.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.80%	18.01%	-1.21%

FFIKX vs. VOO - Expense Ratio Comparison

FFIKX has a 0.08% expense ratio, which is higher than VOO's 0.03% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

FFIKX vs. VOO - Dividend Comparison

FFIKX's dividend yield for the trailing twelve months is around 1.71%, more than VOO's 1.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FFIKX Fidelity Freedom Index 2065 Fund Institutional Premium Class	1.71%	1.93%	1.92%	1.91%	2.01%	1.80%	1.81%	2.05%	0.00%	0.00%	0.00%	0.00%
VOO Vanguard S&P 500 ETF	1.07%	1.13%	1.24%	1.46%	1.69%	1.25%	1.54%	1.88%	2.06%	1.78%	2.02%	2.10%

Frequently Asked Questions

Can I hold both FFIKX and VOO in my portfolio?

With a correlation of 0.96, FFIKX and VOO 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, FFIKX or VOO?

FFIKX has higher volatility (3.89%) compared to VOO (3.54%). In terms of maximum drawdown, FFIKX dropped -30.68% vs VOO's -33.99%.

Which has better risk-adjusted returns?

FFIKX currently has the higher Sharpe Ratio (1.57 vs 1.53), 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.