FFSFX vs. SWYOX

Last updated Apr 1, 2026

Compare and contrast key facts about Fidelity Freedom 2065 Fund (FFSFX) and Schwab Target 2065 Index Fund (SWYOX).

FFSFX is managed by Fidelity. It was launched on Jun 28, 2019. SWYOX is managed by Charles Schwab. It was launched on Feb 24, 2021.

Performance

FFSFX vs. SWYOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Freedom 2065 Fund (FFSFX) and Schwab Target 2065 Index Fund (SWYOX). The values are adjusted to include any dividend payments, if applicable.

FFSFX vs. SWYOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
FFSFX Fidelity Freedom 2065 Fund	-3.49%	23.76%	14.01%	20.54%	-18.28%	12.81%
SWYOX Schwab Target 2065 Index Fund	-3.97%	20.48%	14.95%	21.61%	-17.90%	16.04%

Returns By Period

In the year-to-date period, FFSFX achieves a -3.49% return, which is significantly higher than SWYOX's -3.97% return.

FFSFX

• 1D: -0.33%
• 1M: -9.19%
• YTD: -3.49%
• 6M: 0.10%
• 1Y: 19.44%
• 3Y*: 15.31%
• 5Y*: 8.13%
• 10Y*: —

SWYOX

• 1D: -0.28%
• 1M: -8.53%
• YTD: -3.97%
• 6M: -1.17%
• 1Y: 16.64%
• 3Y*: 14.89%
• 5Y*: 8.38%
• 10Y*: —

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

FFSFX vs. SWYOX - Expense Ratio Comparison

FFSFX has a 0.75% expense ratio, which is higher than SWYOX's 0.04% expense ratio.

FFSFX

Fidelity Freedom 2065 Fund

SWYOX

Schwab Target 2065 Index Fund

Return for Risk

FFSFX vs. SWYOX — Risk / Return Rank

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

FFSFX

FFSFX Risk / Return Rank: 71
FFSFX Sharpe Ratio Rank: 70
FFSFX Sortino Ratio Rank: 71
FFSFX Omega Ratio Rank: 70
FFSFX Calmar Ratio Rank: 69
FFSFX Martin Ratio Rank: 74

SWYOX

SWYOX Risk / Return Rank: 60
SWYOX Sharpe Ratio Rank: 58
SWYOX Sortino Ratio Rank: 60
SWYOX Omega Ratio Rank: 60
SWYOX Calmar Ratio Rank: 55
SWYOX Martin Ratio Rank: 66

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.

FFSFX vs. SWYOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Freedom 2065 Fund (FFSFX) and Schwab Target 2065 Index Fund (SWYOX). 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.

	FFSFX	SWYOX	Difference
Sharpe ratio Return per unit of total volatility	1.21	1.03	+0.18
Sortino ratio Return per unit of downside risk	1.73	1.53	+0.21
Omega ratio Gain probability vs. loss probability	1.26	1.23	+0.03
Calmar ratio Return relative to maximum drawdown	1.55	1.29	+0.26
Martin ratio Return relative to average drawdown	6.96	6.19	+0.77
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FFSFX vs. SWYOX - Sharpe Ratio Comparison

The current FFSFX Sharpe Ratio is 1.21, which is comparable to the SWYOX Sharpe Ratio of 1.03. The chart below compares the historical Sharpe Ratios of FFSFX and SWYOX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FFSFX	SWYOX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.21	1.03	+0.18
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.55	0.54	+0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.64	0.58	+0.06

Correlation

The correlation between FFSFX and SWYOX is 0.97, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

FFSFX vs. SWYOX - Dividend Comparison

FFSFX's dividend yield for the trailing twelve months is around 3.82%, more than SWYOX's 1.95% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019
FFSFX Fidelity Freedom 2065 Fund	3.82%	3.69%	2.29%	2.01%	8.77%	7.81%	2.25%	1.40%
SWYOX Schwab Target 2065 Index Fund	1.95%	1.87%	1.76%	1.82%	1.80%	1.24%	0.00%	0.00%

Drawdowns

FFSFX vs. SWYOX - Drawdown Comparison

The maximum FFSFX drawdown since its inception was -31.03%, which is greater than SWYOX's maximum drawdown of -26.02%. Use the drawdown chart below to compare losses from any high point for FFSFX and SWYOX.

Drawdown Indicators

	FFSFX	SWYOX	Difference
Max Drawdown Largest peak-to-trough decline	-31.03%	-26.02%	-5.01%
Max Drawdown (1Y) Largest decline over 1 year	-11.20%	-11.64%	+0.44%
Max Drawdown (5Y) Largest decline over 5 years	-27.31%	-26.02%	-1.29%
Current Drawdown Current decline from peak	-9.79%	-9.13%	-0.66%
Average Drawdown Average peak-to-trough decline	-6.02%	-5.88%	-0.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.50%	2.43%	+0.07%

Volatility

FFSFX vs. SWYOX - Volatility Comparison

Fidelity Freedom 2065 Fund (FFSFX) has a higher volatility of 5.65% compared to Schwab Target 2065 Index Fund (SWYOX) at 5.01%. This indicates that FFSFX's price experiences larger fluctuations and is considered to be riskier than SWYOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FFSFX	SWYOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.65%	5.01%	+0.64%
Volatility (6M) Calculated over the trailing 6-month period	9.55%	9.01%	+0.54%
Volatility (1Y) Calculated over the trailing 1-year period	15.99%	16.38%	-0.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.85%	15.47%	-0.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.04%	15.45%	+1.59%