FFOLX vs. FIWTX

Last updated Jun 24, 2026

FFOLX (Fidelity Freedom Index 2045 Fund Institutional Premium Class) and FIWTX (Fidelity Freedom Index 2020 Fund Institutional Premium Class) are both Target Retirement Date funds from Fidelity. Over the past 10 years, FFOLX returned 12.21%/yr vs 7.44%/yr for FIWTX. With a 0.96 correlation, they move nearly in lockstep. Both charge a 0.08% expense ratio.

Performance

FFOLX vs. FIWTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Freedom Index 2045 Fund Institutional Premium Class (FFOLX) and Fidelity Freedom Index 2020 Fund Institutional Premium Class (FIWTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FFOLX achieves a 11.53% return, which is significantly higher than FIWTX's 5.76% return. Over the past 10 years, FFOLX has outperformed FIWTX with an annualized return of 12.21%, while FIWTX has yielded a comparatively lower 7.44% annualized return.

FFOLX

• 1D: -0.17%
• 1M: 1.75%
• YTD: 11.53%
• 6M: 10.93%
• 1Y: 26.40%
• 3Y*: 18.89%
• 5Y*: 9.81%
• 10Y*: 12.21%

FIWTX

• 1D: -0.23%
• 1M: 0.97%
• YTD: 5.76%
• 6M: 5.53%
• 1Y: 14.21%
• 3Y*: 10.91%
• 5Y*: 4.80%
• 10Y*: 7.44%

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

FFOLX vs. FIWTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FFOLX Fidelity Freedom Index 2045 Fund Institutional Premium Class	11.53%	21.44%	14.19%	19.95%	-18.18%	15.98%	16.51%	26.01%	-7.20%	20.57%
FIWTX Fidelity Freedom Index 2020 Fund Institutional Premium Class	5.76%	13.40%	7.73%	12.72%	-15.86%	8.40%	12.75%	18.25%	-3.86%	13.95%

Correlation

The correlation between FFOLX and FIWTX 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	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (10Y) Calculated over the trailing 10-year period	0.96
Correlation (All Time) Calculated using the full available price history since Jun 29, 2015	0.96

The correlation between FFOLX and FIWTX has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.

Return for Risk

FFOLX vs. FIWTX — Risk / Return Rank

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

FFOLX

FFOLX Risk / Return Rank: 71
FFOLX Sharpe Ratio Rank: 71
FFOLX Sortino Ratio Rank: 67
FFOLX Omega Ratio Rank: 68
FFOLX Calmar Ratio Rank: 71
FFOLX Martin Ratio Rank: 76

FIWTX

FIWTX Risk / Return Rank: 67
FIWTX Sharpe Ratio Rank: 67
FIWTX Sortino Ratio Rank: 69
FIWTX Omega Ratio Rank: 70
FIWTX Calmar Ratio Rank: 62
FIWTX Martin Ratio Rank: 69

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.

FFOLX vs. FIWTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Freedom Index 2045 Fund Institutional Premium Class (FFOLX) and Fidelity Freedom Index 2020 Fund Institutional Premium Class (FIWTX). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	FFOLX	FIWTX	Difference
Sharpe ratio: Return per unit of total volatility	2.26	2.21	+0.06
Sortino ratio: Return per unit of downside risk	3.10	3.15	-0.05
Omega ratio: Gain probability vs. loss probability	1.42	1.43	-0.01
Calmar ratio: Return relative to maximum drawdown	3.10	2.89	+0.22
Martin ratio: Return relative to average drawdown	13.34	12.48	+0.85

FFOLX vs. FIWTX - Sharpe Ratio Comparison

The current FFOLX Sharpe Ratio is 2.26, which is comparable to the FIWTX Sharpe Ratio of 2.21. The chart below compares the historical Sharpe Ratios of FFOLX and FIWTX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FFOLX vs. FIWTX - Drawdown Comparison

The maximum FFOLX drawdown since its inception was -30.72%, which is greater than FIWTX's maximum drawdown of -21.59%. Use the drawdown chart below to compare losses from any high point for FFOLX and FIWTX.

Drawdown Indicators

	FFOLX	FIWTX	Difference
Max Drawdown Largest peak-to-trough decline	-30.72%	-21.59%	-9.13%
Max Drawdown (1Y) Largest decline over 1 year	-8.87%	-5.11%	-3.76%
Max Drawdown (3Y) Largest decline over 3 years	-14.71%	-7.85%	-6.86%
Max Drawdown (5Y) Largest decline over 5 years	-26.18%	-21.59%	-4.59%
Max Drawdown (10Y) Largest decline over 10 years	-30.72%	-21.59%	-9.13%
Current Drawdown Current decline from peak	-0.64%	-0.51%	-0.13%
Average Drawdown Average peak-to-trough decline	-4.65%	-3.65%	-1.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.06%	1.18%	+0.88%

Volatility

FFOLX vs. FIWTX - Volatility Comparison

Fidelity Freedom Index 2045 Fund Institutional Premium Class (FFOLX) has a higher volatility of 4.90% compared to Fidelity Freedom Index 2020 Fund Institutional Premium Class (FIWTX) at 2.72%. This indicates that FFOLX's price experiences larger fluctuations and is considered to be riskier than FIWTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FFOLX	FIWTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.90%	2.72%	+2.18%
Volatility (6M) Calculated over the trailing 6-month period	10.13%	5.62%	+4.51%
Volatility (1Y) Calculated over the trailing 1-year period	12.20%	6.70%	+5.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.49%	8.62%	+5.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.21%	8.84%	+6.37%

FFOLX vs. FIWTX - Expense Ratio Comparison

Both FFOLX and FIWTX have an expense ratio of 0.08%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

FFOLX vs. FIWTX - Dividend Comparison

FFOLX's dividend yield for the trailing twelve months is around 1.94%, less than FIWTX's 5.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FFOLX Fidelity Freedom Index 2045 Fund Institutional Premium Class	1.94%	2.06%	2.04%	1.98%	2.08%	2.03%	1.97%	14.93%	2.30%	1.94%	2.05%	2.02%
FIWTX Fidelity Freedom Index 2020 Fund Institutional Premium Class	5.85%	6.00%	5.88%	2.47%	3.00%	2.77%	2.57%	17.46%	2.56%	1.89%	1.90%	1.79%

Frequently Asked Questions

Can I hold both FFOLX and FIWTX in my portfolio?

With a correlation of 0.96, FFOLX and FIWTX 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, FFOLX or FIWTX?

FFOLX has higher volatility (4.90%) compared to FIWTX (2.72%). In terms of maximum drawdown, FFOLX dropped -30.72% vs FIWTX's -21.59%.

Which has better risk-adjusted returns?

FFOLX currently has the higher Sharpe Ratio (2.26 vs 2.21), 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.