FFIZX vs. FIIIX

Last updated Jun 4, 2026

FFIZX (Fidelity Freedom Index 2040 Fund Institutional Premium Class) and FIIIX (Fidelity Advisor International Growth Fund Class I) are both mutual funds - FFIZX is a Target Retirement Date fund managed by Fidelity, while FIIIX is a Foreign Large Cap Equities fund managed by Fidelity. Over the past 10 years, FFIZX returned 11.53%/yr vs 9.26%/yr for FIIIX. Their correlation of 0.90 suggests significant overlap in exposure. FFIZX charges 0.08%/yr vs 1.00%/yr for FIIIX.

Performance

FFIZX vs. FIIIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Freedom Index 2040 Fund Institutional Premium Class (FFIZX) and Fidelity Advisor International Growth Fund Class I (FIIIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FFIZX achieves a 10.94% return, which is significantly higher than FIIIX's 7.15% return. Over the past 10 years, FFIZX has outperformed FIIIX with an annualized return of 11.53%, while FIIIX has yielded a comparatively lower 9.26% annualized return.

FFIZX

• 1D: 0.38%
• 1M: 4.87%
• YTD: 10.94%
• 6M: 11.70%
• 1Y: 25.67%
• 3Y*: 18.11%
• 5Y*: 9.29%
• 10Y*: 11.53%

FIIIX

• 1D: 1.21%
• 1M: 3.14%
• YTD: 7.15%
• 6M: 8.39%
• 1Y: 14.41%
• 3Y*: 12.35%
• 5Y*: 5.64%
• 10Y*: 9.26%

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

FFIZX vs. FIIIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FFIZX Fidelity Freedom Index 2040 Fund Institutional Premium Class	10.94%	19.93%	13.37%	19.44%	-18.15%	15.97%	16.51%	26.01%	-7.20%	20.57%
FIIIX Fidelity Advisor International Growth Fund Class I	7.15%	17.90%	4.86%	20.87%	-23.21%	15.45%	16.95%	34.01%	-11.52%	28.79%

Correlation

The correlation between FFIZX and FIIIX 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	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (10Y) Calculated over the trailing 10-year period	0.90
Correlation (All Time) Calculated using the full available price history since Jun 30, 2015	0.90

The correlation between FFIZX and FIIIX has been stable across timeframes, ranging from 0.90 to 0.91 - a consistent structural relationship.

Return for Risk

FFIZX vs. FIIIX — Risk / Return Rank

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

FFIZX

FFIZX Risk / Return Rank: 71
FFIZX Sharpe Ratio Rank: 74
FFIZX Sortino Ratio Rank: 70
FFIZX Omega Ratio Rank: 68
FFIZX Calmar Ratio Rank: 69
FFIZX Martin Ratio Rank: 74

FIIIX

FIIIX Risk / Return Rank: 11
FIIIX Sharpe Ratio Rank: 10
FIIIX Sortino Ratio Rank: 10
FIIIX Omega Ratio Rank: 10
FIIIX Calmar Ratio Rank: 10
FIIIX Martin Ratio Rank: 13

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.

FFIZX vs. FIIIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Freedom Index 2040 Fund Institutional Premium Class (FFIZX) and Fidelity Advisor International Growth Fund Class I (FIIIX). 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.

	FFIZX	FIIIX	Difference
Sharpe ratio Return per unit of total volatility	2.50	0.78	+1.71
Sortino ratio Return per unit of downside risk	3.48	1.24	+2.24
Omega ratio Gain probability vs. loss probability	1.46	1.15	+0.31
Calmar ratio Return relative to maximum drawdown	3.21	1.02	+2.19
Martin ratio Return relative to average drawdown	14.06	3.78	+10.28
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FFIZX vs. FIIIX - Sharpe Ratio Comparison

The current FFIZX Sharpe Ratio is 2.50, which is higher than the FIIIX Sharpe Ratio of 0.78. The chart below compares the historical Sharpe Ratios of FFIZX and FIIIX, 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

	FFIZX	FIIIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.50	0.78	+1.71
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.68	0.31	+0.36
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.78	0.52	+0.26
Sharpe Ratio (All Time) Calculated using the full available price history	0.71	0.30	+0.41

Drawdowns

FFIZX vs. FIIIX - Drawdown Comparison

The maximum FFIZX drawdown since its inception was -30.69%, smaller than the maximum FIIIX drawdown of -55.97%. Use the drawdown chart below to compare losses from any high point for FFIZX and FIIIX.

Drawdown Indicators

	FFIZX	FIIIX	Difference
Max Drawdown Largest peak-to-trough decline	-30.69%	-55.97%	+25.28%
Max Drawdown (1Y) Largest decline over 1 year	-8.10%	-13.99%	+5.89%
Max Drawdown (3Y) Largest decline over 3 years	-13.46%	-16.48%	+3.02%
Max Drawdown (5Y) Largest decline over 5 years	-26.07%	-34.95%	+8.88%
Max Drawdown (10Y) Largest decline over 10 years	-30.69%	-34.95%	+4.26%
Current Drawdown Current decline from peak	0.00%	-2.18%	+2.18%
Average Drawdown Average peak-to-trough decline	-4.66%	-10.43%	+5.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.85%	3.78%	-1.93%

Volatility

FFIZX vs. FIIIX - Volatility Comparison

The current volatility for Fidelity Freedom Index 2040 Fund Institutional Premium Class (FFIZX) is 3.21%, while Fidelity Advisor International Growth Fund Class I (FIIIX) has a volatility of 7.30%. This indicates that FFIZX experiences smaller price fluctuations and is considered to be less risky than FIIIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FFIZX	FIIIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.21%	7.30%	-4.09%
Volatility (6M) Calculated over the trailing 6-month period	8.39%	15.90%	-7.51%
Volatility (1Y) Calculated over the trailing 1-year period	10.44%	18.28%	-7.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.79%	18.06%	-4.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.88%	17.83%	-2.95%

FFIZX vs. FIIIX - Expense Ratio Comparison

FFIZX has a 0.08% expense ratio, which is lower than FIIIX's 1.00% expense ratio.

Dividends

FFIZX vs. FIIIX - Dividend Comparison

FFIZX's dividend yield for the trailing twelve months is around 2.24%, less than FIIIX's 3.21% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FFIZX Fidelity Freedom Index 2040 Fund Institutional Premium Class	2.24%	2.38%	2.23%	2.00%	2.13%	2.08%	2.02%	18.32%	2.26%	1.86%	2.04%	2.04%
FIIIX Fidelity Advisor International Growth Fund Class I	3.21%	3.44%	0.78%	0.47%	1.65%	1.93%	0.12%	1.00%	0.91%	0.12%	1.28%	0.77%

Frequently Asked Questions

Can I hold both FFIZX and FIIIX in my portfolio?

With a correlation of 0.91, FFIZX and FIIIX 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, FFIZX or FIIIX?

FIIIX has higher volatility (7.30%) compared to FFIZX (3.21%). In terms of maximum drawdown, FFIZX dropped -30.69% vs FIIIX's -55.97%.

Which has better risk-adjusted returns?

FFIZX currently has the higher Sharpe Ratio (2.50 vs 0.78), 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.