FFWTX vs. MLLIX

Last updated Aug 1, 2026

FFWTX (Fidelity Freedom Index 2010 Fund Institutional Premium Class) and MLLIX (MFS Lifetime Income Fund) are both Target Retirement Date funds. Over the past 10 years, FFWTX returned 5.22%/yr vs 4.87%/yr for MLLIX. Their correlation of 0.92 means they have usually moved in the same direction. FFWTX charges 0.08%/yr vs 0.00%/yr for MLLIX.

Performance

FFWTX vs. MLLIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Freedom Index 2010 Fund Institutional Premium Class (FFWTX) and MFS Lifetime Income Fund (MLLIX). 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 FFWTX having a 3.61% return and MLLIX slightly lower at 3.48%. Over the past 10 years, FFWTX has outperformed MLLIX with an annualized return of 5.22%, while MLLIX has yielded a comparatively lower 4.87% annualized return.

FFWTX

• 1D: 0.65%
• 1M: -0.43%
• 6M: 2.47%
• YTD: 3.61%
• 1Y: 7.95%
• 3Y*: 7.58%
• 5Y*: 3.12%
• 10Y*: 5.22%
• ALL TIME*: 5.00%

MLLIX

• 1D: 0.32%
• 1M: -0.32%
• 6M: 2.18%
• YTD: 3.48%
• 1Y: 7.47%
• 3Y*: 7.16%
• 5Y*: 3.05%
• 10Y*: 4.87%
• ALL TIME*: 5.07%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FFWTX Fidelity Freedom Index 2010 Fund Institutional Premium Class	$0.00	$0.00	$0.00
MLLIX MFS Lifetime Income Fund	$0.00	$0.00	$0.00

FFWTX vs. MLLIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FFWTX Fidelity Freedom Index 2010 Fund Institutional Premium Class	3.61%	10.16%	5.83%	9.88%	-12.97%	5.15%	10.45%	14.36%	-2.58%	10.73%
MLLIX MFS Lifetime Income Fund	3.48%	9.32%	5.62%	9.12%	-11.99%	6.63%	10.06%	13.91%	-2.37%	8.24%

Correlation

The correlation between FFWTX and MLLIX is 0.91, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.91
Correlation (3Y) Balances recent behavior with more history.	0.91
Correlation (5Y) Shows whether the relationship held over a longer period.	0.93
Correlation (10Y) Provides a long-term view across more market conditions.	0.92
Correlation (All Time) Calculated using the full available price history since Jun 29, 2015	0.92

The correlation between FFWTX and MLLIX has been stable across timeframes, ranging from 0.91 to 0.93 - a consistent structural relationship.

Return for Risk

FFWTX vs. MLLIX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FFWTX

FFWTX Risk / Return Rank: 70
FFWTX Sharpe Ratio Rank: 71
FFWTX Sortino Ratio Rank: 71
FFWTX Omega Ratio Rank: 72
FFWTX Calmar Ratio Rank: 65
FFWTX Martin Ratio Rank: 74

MLLIX

MLLIX Risk / Return Rank: 66
MLLIX Sharpe Ratio Rank: 70
MLLIX Sortino Ratio Rank: 72
MLLIX Omega Ratio Rank: 69
MLLIX Calmar Ratio Rank: 51
MLLIX Martin Ratio Rank: 66

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FFWTX vs. MLLIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Freedom Index 2010 Fund Institutional Premium Class (FFWTX) and MFS Lifetime Income Fund (MLLIX). 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.

	FFWTX	MLLIX	Difference
Sharpe ratio: Return per unit of total volatility	1.66	1.69	-0.03
Sortino ratio: Return per unit of downside risk	2.41	2.51	-0.10
Omega ratio: Gain probability vs. loss probability	1.31	1.31	0.00
Calmar ratio: Return relative to maximum drawdown	2.19	1.97	+0.22
Martin ratio: Return relative to average drawdown	9.04	8.67	+0.37

FFWTX vs. MLLIX - Sharpe Ratio Comparison

The current FFWTX Sharpe Ratio is 1.66, which is comparable to the MLLIX Sharpe Ratio of 1.69. The chart below compares the historical Sharpe Ratios of FFWTX and MLLIX, 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

FFWTX vs. MLLIX - Drawdown Comparison

The maximum FFWTX drawdown since its inception was -17.44%, roughly equal to the maximum MLLIX drawdown of -17.32%. Use the drawdown chart below to compare losses from any high point for FFWTX and MLLIX.

Drawdown Indicators

	FFWTX	MLLIX	Difference
Max Drawdown Largest peak-to-trough decline	-17.44%	-17.32%	-0.12%
Max Drawdown (1Y) Largest decline over 1 year	-3.68%	-3.86%	+0.18%
Max Drawdown (3Y) Largest decline over 3 years	-4.52%	-4.93%	+0.41%
Max Drawdown (5Y) Largest decline over 5 years	-17.44%	-16.08%	-1.36%
Max Drawdown (10Y) Largest decline over 10 years	-17.44%	-16.08%	-1.36%
Current Drawdown Current decline from peak	-0.99%	-0.64%	-0.35%
Average Drawdown Average peak-to-trough decline	-2.87%	-2.14%	-0.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.89%	0.88%	+0.01%

Volatility

FFWTX vs. MLLIX - Volatility Comparison

Fidelity Freedom Index 2010 Fund Institutional Premium Class (FFWTX) has a higher volatility of 1.43% compared to MFS Lifetime Income Fund (MLLIX) at 1.06%. This indicates that FFWTX's price experiences larger fluctuations and is considered to be riskier than MLLIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FFWTX	MLLIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.43%	1.06%	+0.37%
Volatility (6M) Calculated over the trailing 6-month period	4.18%	3.66%	+0.52%
Volatility (1Y) Calculated over the trailing 1-year period	4.86%	4.51%	+0.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.17%	5.95%	+0.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.09%	5.71%	+0.38%

FFWTX vs. MLLIX - Expense Ratio Comparison

FFWTX has a 0.08% expense ratio, which is higher than MLLIX's 0.00% 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

FFWTX vs. MLLIX - Dividend Comparison

FFWTX's dividend yield for the trailing twelve months is around 3.81%, less than MLLIX's 7.43% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FFWTX Fidelity Freedom Index 2010 Fund Institutional Premium Class	3.81%	4.56%	5.03%	3.32%	3.76%	3.70%	2.59%	16.46%	4.78%	2.64%	1.91%	1.62%
MLLIX MFS Lifetime Income Fund	7.43%	6.01%	6.26%	3.70%	3.92%	6.12%	3.18%	3.80%	4.20%	3.56%	4.21%	2.51%

Frequently Asked Questions

Can I hold both FFWTX and MLLIX in my portfolio?

With a correlation of 0.91, FFWTX and MLLIX 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, FFWTX or MLLIX?

FFWTX has higher volatility (1.43%) compared to MLLIX (1.06%). In terms of maximum drawdown, FFWTX dropped -17.44% vs MLLIX's -17.32%.

Which has better risk-adjusted returns?

MLLIX currently has the higher Sharpe Ratio (1.69 vs 1.66), 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.