FFSDX vs. FIRVX

Last updated Jul 15, 2026

FFSDX (Fidelity Freedom 2065 Fund Class K) and FIRVX (Fidelity Managed Retirement 2020 Fund) are both Target Retirement Date funds. Their correlation of 0.90 suggests significant overlap in exposure. FFSDX charges 0.65%/yr vs 0.47%/yr for FIRVX.

Performance

FFSDX vs. FIRVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Freedom 2065 Fund Class K (FFSDX) and Fidelity Managed Retirement 2020 Fund (FIRVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FFSDX

• 1D: -1.38%
• 1M: -0.12%
• 6M: 9.23%
• YTD: 12.49%
• 1Y: 24.40%
• 3Y*: 18.69%
• 5Y*: 10.12%
• 10Y*: —

FIRVX

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FFSDX vs. FIRVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FFSDX Fidelity Freedom 2065 Fund Class K	12.49%	23.80%	14.16%	20.69%	-18.22%	16.59%	18.26%	9.09%
FIRVX Fidelity Managed Retirement 2020 Fund	1,440,933.92%	12.25%	5.86%	10.72%	-14.63%	6.77%	12.06%	5.68%

Correlation

The correlation between FFSDX and FIRVX is 0.88, 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	0.88
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (All Time) Calculated using the full available price history since Jun 28, 2019	0.90

The correlation between FFSDX and FIRVX has been stable across timeframes, ranging from 0.87 to 0.90 - a consistent structural relationship.

Return for Risk

FFSDX vs. FIRVX — Risk / Return Rank

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

FFSDX

FFSDX Risk / Return Rank: 66
FFSDX Sharpe Ratio Rank: 64
FFSDX Sortino Ratio Rank: 60
FFSDX Omega Ratio Rank: 63
FFSDX Calmar Ratio Rank: 68
FFSDX Martin Ratio Rank: 77

FIRVX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

FFSDX vs. FIRVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Freedom 2065 Fund Class K (FFSDX) and Fidelity Managed Retirement 2020 Fund (FIRVX). 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.

	FFSDX	FIRVX	Difference
Sharpe ratio: Return per unit of total volatility	1.75	—	—
Sortino ratio: Return per unit of downside risk	2.43	—	—
Omega ratio: Gain probability vs. loss probability	1.32	—	—
Calmar ratio: Return relative to maximum drawdown	2.52	—	—
Martin ratio: Return relative to average drawdown	10.88	—	—

Drawdowns

Drawdown Indicators

	FFSDX	FIRVX	Difference
Max Drawdown Largest peak-to-trough decline	-31.03%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-9.80%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-15.40%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-27.29%	—	—
Current Drawdown Current decline from peak	-2.17%	—	—
Average Drawdown Average peak-to-trough decline	-5.80%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	2.26%	—	—

Volatility

Volatility by Period

	FFSDX	FIRVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.37%	—	—
Volatility (6M) Calculated over the trailing 6-month period	12.15%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	14.13%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.28%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.07%	—	—

FFSDX vs. FIRVX - Expense Ratio Comparison

FFSDX has a 0.65% expense ratio, which is higher than FIRVX's 0.47% expense ratio.

Dividends

FFSDX vs. FIRVX - Dividend Comparison

FFSDX's dividend yield for the trailing twelve months is around 4.97%, less than FIRVX's 102.77% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FFSDX Fidelity Freedom 2065 Fund Class K	4.97%	3.68%	2.75%	2.15%	8.83%	7.86%	2.31%	1.49%	0.00%	0.00%	0.00%	0.00%
FIRVX Fidelity Managed Retirement 2020 Fund	102.77%	2.83%	2.74%	2.57%	3.52%	4.61%	3.74%	3.18%	6.90%	25.16%	2.28%	4.45%

Frequently Asked Questions

Can I hold both FFSDX and FIRVX in my portfolio?

FFSDX and FIRVX have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.