FFIZX vs. SSFNX
FFIZX (Fidelity Freedom Index 2040 Fund Institutional Premium Class) and SSFNX (State Street Target Retirement Fund) are both Target Retirement Date funds. Over the past 10 years, FFIZX returned 11.53%/yr vs 5.89%/yr for SSFNX. Their correlation of 0.92 suggests significant overlap in exposure. FFIZX charges 0.08%/yr vs 0.10%/yr for SSFNX.
Performance
FFIZX vs. SSFNX - Performance Comparison
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Returns By Period
In the year-to-date period, FFIZX achieves a 10.94% return, which is significantly higher than SSFNX's 5.58% return. Over the past 10 years, FFIZX has outperformed SSFNX with an annualized return of 11.53%, while SSFNX has yielded a comparatively lower 5.89% 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%
SSFNX
- 1D
- 0.17%
- 1M
- 1.53%
- YTD
- 5.58%
- 6M
- 5.73%
- 1Y
- 13.09%
- 3Y*
- 9.93%
- 5Y*
- 4.57%
- 10Y*
- 5.89%
FFIZX vs. SSFNX - 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% |
SSFNX State Street Target Retirement Fund | 5.58% | 10.93% | 7.05% | 10.73% | -12.21% | 6.87% | 10.26% | 13.97% | -2.49% | 8.92% |
Correlation
The correlation between FFIZX and SSFNX 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 | 0.91 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.92 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.92 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2015 | 0.92 |
The correlation between FFIZX and SSFNX has been stable across timeframes, ranging from 0.91 to 0.92 - a consistent structural relationship.
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Return for Risk
FFIZX vs. SSFNX — Risk / Return Rank
FFIZX
SSFNX
FFIZX vs. SSFNX - 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 State Street Target Retirement Fund (SSFNX). 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 | SSFNX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.50 | ||
| Sortino ratioReturn per unit of downside risk | -0.93 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.62 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 3.21 | 3.73 | -0.52 |
| Martin ratioReturn relative to average drawdown | 14.06 | 16.97 | -2.91 |
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 | SSFNX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.50 | 3.00 | -0.50 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.68 | 0.70 | -0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.78 | 0.90 | -0.12 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.71 | 0.84 | -0.13 |
Drawdowns
FFIZX vs. SSFNX - Drawdown Comparison
The maximum FFIZX drawdown since its inception was -30.69%, which is greater than SSFNX's maximum drawdown of -16.62%. Use the drawdown chart below to compare losses from any high point for FFIZX and SSFNX.
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Drawdown Indicators
| FFIZX | SSFNX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.69% | -16.62% | -14.07% |
Max Drawdown (1Y)Largest decline over 1 year | -8.10% | -3.52% | -4.58% |
Max Drawdown (3Y)Largest decline over 3 years | -13.46% | -5.40% | -8.06% |
Max Drawdown (5Y)Largest decline over 5 years | -26.07% | -16.62% | -9.45% |
Max Drawdown (10Y)Largest decline over 10 years | -30.69% | -16.62% | -14.07% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -4.66% | -2.52% | -2.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.85% | 0.77% | +1.08% |
Volatility
FFIZX vs. SSFNX - Volatility Comparison
Fidelity Freedom Index 2040 Fund Institutional Premium Class (FFIZX) has a higher volatility of 3.21% compared to State Street Target Retirement Fund (SSFNX) at 1.41%. This indicates that FFIZX's price experiences larger fluctuations and is considered to be riskier than SSFNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FFIZX | SSFNX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.21% | 1.41% | +1.80% |
Volatility (6M)Calculated over the trailing 6-month period | 8.39% | 3.53% | +4.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.44% | 4.38% | +6.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.79% | 6.58% | +7.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.88% | 6.57% | +8.31% |
FFIZX vs. SSFNX - Expense Ratio Comparison
FFIZX has a 0.08% expense ratio, which is lower than SSFNX's 0.10% expense ratio. Despite the difference, 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. SSFNX - Dividend Comparison
FFIZX's dividend yield for the trailing twelve months is around 2.24%, less than SSFNX's 4.61% 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% |
SSFNX State Street Target Retirement Fund | 4.61% | 4.86% | 5.78% | 5.26% | 5.12% | 6.69% | 1.61% | 3.35% | 4.40% | 2.72% | 1.84% | 2.05% |
Frequently Asked Questions
With a correlation of 0.91, FFIZX and SSFNX 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 SSFNX (1.41%). In terms of maximum drawdown, FFIZX dropped -30.69% vs SSFNX's -16.62%.
SSFNX currently has the higher Sharpe Ratio (3.00 vs 2.50), 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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