FFSDX vs. LIRIX

Last updated Jun 4, 2026

FFSDX (Fidelity Freedom 2065 Fund Class K) and LIRIX (BlackRock LifePath Index Retirement Fund) are both Target Retirement Date funds. Over the past 5 years, FFSDX returned 10.52%/yr vs 4.21%/yr for LIRIX. Their correlation of 0.88 suggests significant overlap in exposure. FFSDX charges 0.65%/yr vs 0.11%/yr for LIRIX.

Performance

FFSDX vs. LIRIX - Performance Comparison

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

Returns By Period

In the year-to-date period, FFSDX achieves a 13.87% return, which is significantly higher than LIRIX's 5.84% return.

FFSDX

• 1D: 0.58%
• 1M: 5.12%
• YTD: 13.87%
• 6M: 15.71%
• 1Y: 31.37%
• 3Y*: 20.81%
• 5Y*: 10.52%
• 10Y*: —

LIRIX

• 1D: 0.19%
• 1M: 2.20%
• YTD: 5.84%
• 6M: 6.03%
• 1Y: 14.64%
• 3Y*: 10.12%
• 5Y*: 4.21%
• 10Y*: 5.96%

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

FFSDX vs. LIRIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FFSDX Fidelity Freedom 2065 Fund Class K	13.87%	23.80%	14.16%	20.69%	-18.22%	16.59%	18.26%	9.09%
LIRIX BlackRock LifePath Index Retirement Fund	5.84%	12.41%	6.04%	11.50%	-15.31%	6.69%	11.40%	5.01%

Correlation

The correlation between FFSDX and LIRIX is 0.92, 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	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (All Time) Calculated using the full available price history since Jul 1, 2019	0.88

The correlation between FFSDX and LIRIX has been stable across timeframes, ranging from 0.87 to 0.92 - a consistent structural relationship.

Return for Risk

FFSDX vs. LIRIX — Risk / Return Rank

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

FFSDX

FFSDX Risk / Return Rank: 71
FFSDX Sharpe Ratio Rank: 74
FFSDX Sortino Ratio Rank: 67
FFSDX Omega Ratio Rank: 68
FFSDX Calmar Ratio Rank: 70
FFSDX Martin Ratio Rank: 77

LIRIX

LIRIX Risk / Return Rank: 81
LIRIX Sharpe Ratio Rank: 82
LIRIX Sortino Ratio Rank: 82
LIRIX Omega Ratio Rank: 80
LIRIX Calmar Ratio Rank: 77
LIRIX Martin Ratio Rank: 83

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. LIRIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Freedom 2065 Fund Class K (FFSDX) and BlackRock LifePath Index Retirement Fund (LIRIX). 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.

	FFSDX	LIRIX	Difference
Sharpe ratio: Return per unit of total volatility	2.48	2.65	-0.17
Sortino ratio: Return per unit of downside risk	3.42	3.87	-0.45
Omega ratio: Gain probability vs. loss probability	1.46	1.52	-0.06
Calmar ratio: Return relative to maximum drawdown	3.24	3.50	-0.25
Martin ratio: Return relative to average drawdown	14.47	15.60	-1.14
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FFSDX vs. LIRIX - Sharpe Ratio Comparison

The current FFSDX Sharpe Ratio is 2.48, which is comparable to the LIRIX Sharpe Ratio of 2.65. The chart below compares the historical Sharpe Ratios of FFSDX and LIRIX, 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

	FFSDX	LIRIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.48	2.65	-0.17
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.70	0.54	+0.16
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.80	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.79	0.79	0.00

Drawdowns

FFSDX vs. LIRIX - Drawdown Comparison

The maximum FFSDX drawdown since its inception was -31.03%, which is greater than LIRIX's maximum drawdown of -20.49%. Use the drawdown chart below to compare losses from any high point for FFSDX and LIRIX.

Drawdown Indicators

	FFSDX	LIRIX	Difference
Max Drawdown Largest peak-to-trough decline	-31.03%	-20.49%	-10.54%
Max Drawdown (1Y) Largest decline over 1 year	-9.80%	-4.23%	-5.57%
Max Drawdown (3Y) Largest decline over 3 years	-15.40%	-7.56%	-7.84%
Max Drawdown (5Y) Largest decline over 5 years	-27.29%	-20.49%	-6.80%
Max Drawdown (10Y) Largest decline over 10 years	—	-20.49%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-5.87%	-2.86%	-3.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.19%	0.95%	+1.24%

Volatility

FFSDX vs. LIRIX - Volatility Comparison

Fidelity Freedom 2065 Fund Class K (FFSDX) has a higher volatility of 4.27% compared to BlackRock LifePath Index Retirement Fund (LIRIX) at 2.02%. This indicates that FFSDX's price experiences larger fluctuations and is considered to be riskier than LIRIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FFSDX	LIRIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.27%	2.02%	+2.25%
Volatility (6M) Calculated over the trailing 6-month period	10.56%	4.57%	+5.99%
Volatility (1Y) Calculated over the trailing 1-year period	12.81%	5.57%	+7.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.05%	7.83%	+7.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.03%	7.50%	+9.53%

FFSDX vs. LIRIX - Expense Ratio Comparison

FFSDX has a 0.65% expense ratio, which is higher than LIRIX's 0.11% expense ratio.

Dividends

FFSDX vs. LIRIX - Dividend Comparison

FFSDX's dividend yield for the trailing twelve months is around 4.91%, more than LIRIX's 3.62% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FFSDX Fidelity Freedom 2065 Fund Class K	4.91%	3.68%	2.75%	2.15%	8.83%	7.86%	2.31%	1.49%	0.00%	0.00%	0.00%	0.00%
LIRIX BlackRock LifePath Index Retirement Fund	3.62%	3.83%	2.02%	2.62%	2.69%	2.68%	1.93%	2.43%	2.44%	2.22%	2.47%	2.92%

Frequently Asked Questions

Can I hold both FFSDX and LIRIX in my portfolio?

With a correlation of 0.92, FFSDX and LIRIX 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, FFSDX or LIRIX?

FFSDX has higher volatility (4.27%) compared to LIRIX (2.02%). In terms of maximum drawdown, FFSDX dropped -31.03% vs LIRIX's -20.49%.

Which has better risk-adjusted returns?

LIRIX currently has the higher Sharpe Ratio (2.65 vs 2.48), 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.