FFIZX vs. VVIAX
FFIZX (Fidelity Freedom Index 2040 Fund Institutional Premium Class) and VVIAX (Vanguard Value Index Fund Admiral Shares) are both mutual funds - FFIZX is a Target Retirement Date fund managed by Fidelity, while VVIAX is a Large Cap Value Equities fund managed by Vanguard. Over the past 10 years, FFIZX returned 11.53%/yr vs 12.46%/yr for VVIAX. Their correlation of 0.85 suggests significant overlap in exposure. FFIZX charges 0.08%/yr vs 0.05%/yr for VVIAX.
Performance
FFIZX vs. VVIAX - 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 VVIAX's 12.24% return. Over the past 10 years, FFIZX has underperformed VVIAX with an annualized return of 11.53%, while VVIAX has yielded a comparatively higher 12.46% 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%
VVIAX
- 1D
- 0.86%
- 1M
- 4.21%
- YTD
- 12.24%
- 6M
- 13.09%
- 1Y
- 26.20%
- 3Y*
- 18.24%
- 5Y*
- 11.28%
- 10Y*
- 12.46%
FFIZX vs. VVIAX - 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% |
VVIAX Vanguard Value Index Fund Admiral Shares | 12.24% | 15.27% | 16.00% | 9.22% | -2.07% | 26.51% | 2.29% | 25.81% | -5.45% | 17.13% |
Correlation
The correlation between FFIZX and VVIAX is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.72 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.76 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.81 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.83 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2015 | 0.85 |
The correlation between FFIZX and VVIAX shifts across timeframes, from 0.72 (1 year) to 0.85 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
FFIZX vs. VVIAX — Risk / Return Rank
FFIZX
VVIAX
FFIZX vs. VVIAX - 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 Vanguard Value Index Fund Admiral Shares (VVIAX). 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 | VVIAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.18 | ||
| Sortino ratioReturn per unit of downside risk | -0.33 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.48 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.21 | 4.23 | -1.02 |
| Martin ratioReturn relative to average drawdown | 14.06 | 15.96 | -1.89 |
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 | VVIAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.50 | 2.67 | -0.18 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.68 | 0.82 | -0.14 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.78 | 0.75 | +0.03 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.71 | 0.42 | +0.29 |
Drawdowns
FFIZX vs. VVIAX - Drawdown Comparison
The maximum FFIZX drawdown since its inception was -30.69%, smaller than the maximum VVIAX drawdown of -59.32%. Use the drawdown chart below to compare losses from any high point for FFIZX and VVIAX.
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Drawdown Indicators
| FFIZX | VVIAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.69% | -59.32% | +28.63% |
Max Drawdown (1Y)Largest decline over 1 year | -8.10% | -6.36% | -1.74% |
Max Drawdown (3Y)Largest decline over 3 years | -13.46% | -14.39% | +0.93% |
Max Drawdown (5Y)Largest decline over 5 years | -26.07% | -17.14% | -8.93% |
Max Drawdown (10Y)Largest decline over 10 years | -30.69% | -36.80% | +6.11% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -4.66% | -9.62% | +4.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.85% | 1.69% | +0.16% |
Volatility
FFIZX vs. VVIAX - Volatility Comparison
Fidelity Freedom Index 2040 Fund Institutional Premium Class (FFIZX) has a higher volatility of 3.21% compared to Vanguard Value Index Fund Admiral Shares (VVIAX) at 2.70%. This indicates that FFIZX's price experiences larger fluctuations and is considered to be riskier than VVIAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FFIZX | VVIAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.21% | 2.70% | +0.51% |
Volatility (6M)Calculated over the trailing 6-month period | 8.39% | 7.64% | +0.75% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.44% | 10.09% | +0.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.79% | 13.91% | -0.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.88% | 16.74% | -1.86% |
FFIZX vs. VVIAX - Expense Ratio Comparison
FFIZX has a 0.08% expense ratio, which is higher than VVIAX's 0.05% 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. VVIAX - Dividend Comparison
FFIZX's dividend yield for the trailing twelve months is around 2.24%, more than VVIAX's 1.85% 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% |
VVIAX Vanguard Value Index Fund Admiral Shares | 1.85% | 2.04% | 2.30% | 2.45% | 2.51% | 2.14% | 2.55% | 2.49% | 2.72% | 2.29% | 2.45% | 2.60% |
Frequently Asked Questions
FFIZX and VVIAX have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FFIZX has higher volatility (3.21%) compared to VVIAX (2.70%). In terms of maximum drawdown, FFIZX dropped -30.69% vs VVIAX's -59.32%.
VVIAX currently has the higher Sharpe Ratio (2.67 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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