FFLEX vs. FSKAX

Last updated Jun 4, 2026

FFLEX (Fidelity Freedom Index 2060 Fund Institutional Premium Class) and FSKAX (Fidelity Total Market Index Fund) are both mutual funds - FFLEX 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, FFLEX returned 11.98%/yr vs 15.09%/yr for FSKAX. With a 0.96 correlation, they move nearly in lockstep. FFLEX charges 0.08%/yr vs 0.01%/yr for FSKAX.

Performance

FFLEX vs. FSKAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Freedom Index 2060 Fund Institutional Premium Class (FFLEX) and Fidelity Total Market Index Fund (FSKAX). 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 FFLEX having a 12.63% return and FSKAX slightly lower at 12.08%. Over the past 10 years, FFLEX has underperformed FSKAX with an annualized return of 11.98%, while FSKAX has yielded a comparatively higher 15.09% annualized return.

FFLEX

• 1D: 0.41%
• 1M: 5.63%
• YTD: 12.63%
• 6M: 13.55%
• 1Y: 28.80%
• 3Y*: 19.60%
• 5Y*: 10.15%
• 10Y*: 11.98%

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%

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

FFLEX vs. FSKAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FFLEX Fidelity Freedom Index 2060 Fund Institutional Premium Class	12.63%	21.47%	14.20%	19.97%	-18.19%	15.98%	16.46%	26.17%	-7.21%	20.63%
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 FFLEX and FSKAX is 0.96 - 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	0.96
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 FFLEX and FSKAX has been stable across timeframes, ranging from 0.95 to 0.96 - a consistent structural relationship.

Return for Risk

FFLEX vs. FSKAX — Risk / Return Rank

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

FFLEX

FFLEX Risk / Return Rank: 71
FFLEX Sharpe Ratio Rank: 74
FFLEX Sortino Ratio Rank: 69
FFLEX Omega Ratio Rank: 68
FFLEX Calmar Ratio Rank: 69
FFLEX Martin Ratio Rank: 75

FSKAX

FSKAX Risk / Return Rank: 71
FSKAX Sharpe Ratio Rank: 71
FSKAX Sortino Ratio Rank: 64
FSKAX Omega Ratio Rank: 63
FSKAX Calmar Ratio Rank: 74
FSKAX Martin Ratio Rank: 82

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.

FFLEX vs. FSKAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Freedom Index 2060 Fund Institutional Premium Class (FFLEX) 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.

	FFLEX	FSKAX	Difference
Sharpe ratio Return per unit of total volatility	2.50	2.46	+0.04
Sortino ratio Return per unit of downside risk	3.46	3.35	+0.11
Omega ratio Gain probability vs. loss probability	1.46	1.44	+0.02
Calmar ratio Return relative to maximum drawdown	3.21	3.38	-0.17
Martin ratio Return relative to average drawdown	14.22	15.52	-1.30
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FFLEX vs. FSKAX - Sharpe Ratio Comparison

The current FFLEX Sharpe Ratio is 2.50, which is comparable to the FSKAX Sharpe Ratio of 2.46. The chart below compares the historical Sharpe Ratios of FFLEX and FSKAX, 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

	FFLEX	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	0.71	0.76	-0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.79	0.82	-0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.72	0.85	-0.13

Drawdowns

FFLEX vs. FSKAX - Drawdown Comparison

The maximum FFLEX drawdown since its inception was -30.71%, smaller than the maximum FSKAX drawdown of -35.01%. Use the drawdown chart below to compare losses from any high point for FFLEX and FSKAX.

Drawdown Indicators

	FFLEX	FSKAX	Difference
Max Drawdown Largest peak-to-trough decline	-30.71%	-35.01%	+4.30%
Max Drawdown (1Y) Largest decline over 1 year	-9.07%	-8.92%	-0.15%
Max Drawdown (3Y) Largest decline over 3 years	-14.68%	-19.43%	+4.75%
Max Drawdown (5Y) Largest decline over 5 years	-26.17%	-25.39%	-0.78%
Max Drawdown (10Y) Largest decline over 10 years	-30.71%	-35.01%	+4.30%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-4.67%	-4.02%	-0.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.04%	1.94%	+0.10%

Volatility

FFLEX vs. FSKAX - Volatility Comparison

Fidelity Freedom Index 2060 Fund Institutional Premium Class (FFLEX) has a higher volatility of 3.53% compared to Fidelity Total Market Index Fund (FSKAX) at 2.97%. This indicates that FFLEX'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.

Volatility by Period

	FFLEX	FSKAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.53%	2.97%	+0.56%
Volatility (6M) Calculated over the trailing 6-month period	9.38%	9.23%	+0.15%
Volatility (1Y) Calculated over the trailing 1-year period	11.64%	12.26%	-0.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.39%	17.41%	-3.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.16%	18.46%	-3.30%

FFLEX vs. FSKAX - Expense Ratio Comparison

FFLEX 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

FFLEX vs. FSKAX - Dividend Comparison

FFLEX's dividend yield for the trailing twelve months is around 1.71%, more than FSKAX's 0.93% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FFLEX Fidelity Freedom Index 2060 Fund Institutional Premium Class	1.71%	1.98%	1.98%	1.94%	2.03%	1.95%	1.85%	6.75%	2.36%	2.16%	2.44%	1.82%
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

Can I hold both FFLEX and FSKAX in my portfolio?

With a correlation of 0.96, FFLEX 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.

Which is riskier, FFLEX or FSKAX?

FFLEX has higher volatility (3.53%) compared to FSKAX (2.97%). In terms of maximum drawdown, FFLEX dropped -30.71% vs FSKAX's -35.01%.

Which has better risk-adjusted returns?

FFLEX 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.