FFIZX vs. FSKAX
FFIZX (Fidelity Freedom Index 2040 Fund Institutional Premium Class) and FSKAX (Fidelity Total Market Index Fund) are both mutual funds - FFIZX is a Target Retirement Date fund managed by Fidelity, while FSKAX is a Large Cap Blend Equities fund managed by Fidelity. Over the past 10 years, FFIZX returned 11.53%/yr vs 15.09%/yr for FSKAX. With a 0.96 correlation, they move nearly in lockstep. FFIZX charges 0.08%/yr vs 0.01%/yr for FSKAX.
Performance
FFIZX vs. FSKAX - Performance Comparison
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Returns By Period
In the year-to-date period, FFIZX achieves a 10.94% return, which is significantly lower than FSKAX's 12.08% return. Over the past 10 years, FFIZX has underperformed FSKAX with an annualized return of 11.53%, while FSKAX has yielded a comparatively higher 15.09% 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%
FSKAX
- 1D
- 0.24%
- 1M
- 5.80%
- YTD
- 12.08%
- 6M
- 11.98%
- 1Y
- 29.13%
- 3Y*
- 22.42%
- 5Y*
- 13.08%
- 10Y*
- 15.09%
FFIZX vs. FSKAX - 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% |
FSKAX Fidelity Total Market Index Fund | 12.08% | 17.06% | 23.89% | 26.12% | -19.53% | 25.66% | 20.79% | 30.92% | -5.32% | 20.85% |
Correlation
The correlation between FFIZX and FSKAX 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 | 0.95 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2015 | 0.96 |
The correlation between FFIZX and FSKAX has been stable across timeframes, ranging from 0.95 to 0.96 - a consistent structural relationship.
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Return for Risk
FFIZX vs. FSKAX — Risk / Return Rank
FFIZX
FSKAX
FFIZX vs. FSKAX - 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 Total Market Index Fund (FSKAX). 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 | FSKAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.04 | ||
| Sortino ratioReturn per unit of downside risk | +0.13 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.44 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 3.21 | 3.38 | -0.17 |
| Martin ratioReturn relative to average drawdown | 14.06 | 15.52 | -1.46 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FFIZX | FSKAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.50 | 2.46 | +0.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.68 | 0.76 | -0.08 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.78 | 0.82 | -0.04 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.71 | 0.85 | -0.15 |
Drawdowns
FFIZX vs. FSKAX - Drawdown Comparison
The maximum FFIZX drawdown since its inception was -30.69%, smaller than the maximum FSKAX drawdown of -35.01%. Use the drawdown chart below to compare losses from any high point for FFIZX and FSKAX.
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Drawdown Indicators
| FFIZX | FSKAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.69% | -35.01% | +4.32% |
Max Drawdown (1Y)Largest decline over 1 year | -8.10% | -8.92% | +0.82% |
Max Drawdown (3Y)Largest decline over 3 years | -13.46% | -19.43% | +5.97% |
Max Drawdown (5Y)Largest decline over 5 years | -26.07% | -25.39% | -0.68% |
Max Drawdown (10Y)Largest decline over 10 years | -30.69% | -35.01% | +4.32% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -4.66% | -4.02% | -0.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.85% | 1.94% | -0.09% |
Volatility
FFIZX vs. FSKAX - Volatility Comparison
Fidelity Freedom Index 2040 Fund Institutional Premium Class (FFIZX) has a higher volatility of 3.21% compared to Fidelity Total Market Index Fund (FSKAX) at 2.97%. This indicates that FFIZX's price experiences larger fluctuations and is considered to be riskier than FSKAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FFIZX | FSKAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.21% | 2.97% | +0.24% |
Volatility (6M)Calculated over the trailing 6-month period | 8.39% | 9.23% | -0.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.44% | 12.26% | -1.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.79% | 17.41% | -3.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.88% | 18.46% | -3.58% |
FFIZX vs. FSKAX - Expense Ratio Comparison
FFIZX has a 0.08% expense ratio, which is higher than FSKAX's 0.02% 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
FFIZX vs. FSKAX - Dividend Comparison
FFIZX's dividend yield for the trailing twelve months is around 2.24%, more than FSKAX's 0.93% 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% |
FSKAX Fidelity Total Market Index Fund | 0.93% | 1.01% | 1.19% | 1.41% | 1.62% | 1.15% | 1.45% | 1.94% | 2.54% | 2.07% | 2.43% | 0.82% |
Frequently Asked Questions
With a correlation of 0.95, FFIZX and FSKAX 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.
FFIZX has higher volatility (3.21%) compared to FSKAX (2.97%). In terms of maximum drawdown, FFIZX dropped -30.69% vs FSKAX's -35.01%.
FFIZX currently has the higher Sharpe Ratio (2.50 vs 2.46), 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.
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