FHAPX vs. IRSPX

Last updated Jun 4, 2026

FHAPX (Fidelity Freedom Blend 2050 Fund) and IRSPX (Voya Target Retirement 2045 Fund) are both Target Retirement Date funds. Over the past 5 years, FHAPX returned 10.61%/yr vs 10.27%/yr for IRSPX. With a 0.96 correlation, they move nearly in lockstep. FHAPX charges 0.49%/yr vs 0.19%/yr for IRSPX.

Performance

FHAPX vs. IRSPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Freedom Blend 2050 Fund (FHAPX) and Voya Target Retirement 2045 Fund (IRSPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FHAPX achieves a 13.68% return, which is significantly higher than IRSPX's 12.56% return.

FHAPX

• 1D: 0.66%
• 1M: 5.28%
• YTD: 13.68%
• 6M: 15.12%
• 1Y: 30.71%
• 3Y*: 21.06%
• 5Y*: 10.61%
• 10Y*: —

IRSPX

• 1D: 0.39%
• 1M: 5.50%
• YTD: 12.56%
• 6M: 13.39%
• 1Y: 28.63%
• 3Y*: 19.58%
• 5Y*: 10.27%
• 10Y*: 11.85%

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

FHAPX vs. IRSPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FHAPX Fidelity Freedom Blend 2050 Fund	13.68%	22.63%	16.27%	20.48%	-19.04%	16.29%	17.82%	26.35%	-15.00%
IRSPX Voya Target Retirement 2045 Fund	12.56%	20.26%	14.80%	20.14%	-18.48%	18.90%	17.49%	24.79%	-11.70%

Correlation

The correlation between FHAPX and IRSPX is 0.89, 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	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (All Time) Calculated using the full available price history since Sep 4, 2018	0.96

The correlation between FHAPX and IRSPX has been stable across timeframes, ranging from 0.89 to 0.96 - a consistent structural relationship.

Return for Risk

FHAPX vs. IRSPX — Risk / Return Rank

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

FHAPX

FHAPX Risk / Return Rank: 71
FHAPX Sharpe Ratio Rank: 72
FHAPX Sortino Ratio Rank: 68
FHAPX Omega Ratio Rank: 68
FHAPX Calmar Ratio Rank: 70
FHAPX Martin Ratio Rank: 76

IRSPX

IRSPX Risk / Return Rank: 82
IRSPX Sharpe Ratio Rank: 84
IRSPX Sortino Ratio Rank: 82
IRSPX Omega Ratio Rank: 76
IRSPX Calmar Ratio Rank: 78
IRSPX Martin Ratio Rank: 88

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.

FHAPX vs. IRSPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Freedom Blend 2050 Fund (FHAPX) and Voya Target Retirement 2045 Fund (IRSPX). 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.

	FHAPX	IRSPX	Difference
Sharpe ratio: Return per unit of total volatility	2.48	2.74	-0.26
Sortino ratio: Return per unit of downside risk	3.42	3.93	-0.50
Omega ratio: Gain probability vs. loss probability	1.46	1.51	-0.05
Calmar ratio: Return relative to maximum drawdown	3.24	3.56	-0.32
Martin ratio: Return relative to average drawdown	14.35	17.12	-2.78
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FHAPX vs. IRSPX - Sharpe Ratio Comparison

The current FHAPX Sharpe Ratio is 2.48, which is comparable to the IRSPX Sharpe Ratio of 2.74. The chart below compares the historical Sharpe Ratios of FHAPX and IRSPX, 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

	FHAPX	IRSPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.48	2.74	-0.26
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.71	0.71	0.00
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.76	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.69	0.75	-0.06

Drawdowns

FHAPX vs. IRSPX - Drawdown Comparison

The maximum FHAPX drawdown since its inception was -31.30%, roughly equal to the maximum IRSPX drawdown of -32.60%. Use the drawdown chart below to compare losses from any high point for FHAPX and IRSPX.

Drawdown Indicators

	FHAPX	IRSPX	Difference
Max Drawdown Largest peak-to-trough decline	-31.30%	-32.60%	+1.30%
Max Drawdown (1Y) Largest decline over 1 year	-9.62%	-8.99%	-0.63%
Max Drawdown (3Y) Largest decline over 3 years	-15.51%	-15.18%	-0.33%
Max Drawdown (5Y) Largest decline over 5 years	-27.81%	-25.80%	-2.01%
Max Drawdown (10Y) Largest decline over 10 years	—	-32.60%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-6.12%	-4.41%	-1.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.17%	1.80%	+0.37%

Volatility

FHAPX vs. IRSPX - Volatility Comparison

Fidelity Freedom Blend 2050 Fund (FHAPX) has a higher volatility of 4.14% compared to Voya Target Retirement 2045 Fund (IRSPX) at 3.55%. This indicates that FHAPX's price experiences larger fluctuations and is considered to be riskier than IRSPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FHAPX	IRSPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.14%	3.55%	+0.59%
Volatility (6M) Calculated over the trailing 6-month period	10.28%	9.51%	+0.77%
Volatility (1Y) Calculated over the trailing 1-year period	12.56%	11.67%	+0.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.08%	14.85%	+0.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.92%	15.79%	+1.13%

FHAPX vs. IRSPX - Expense Ratio Comparison

FHAPX has a 0.49% expense ratio, which is higher than IRSPX's 0.19% expense ratio.

Dividends

FHAPX vs. IRSPX - Dividend Comparison

FHAPX's dividend yield for the trailing twelve months is around 3.28%, less than IRSPX's 10.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FHAPX Fidelity Freedom Blend 2050 Fund	3.28%	2.47%	4.84%	1.86%	6.21%	8.52%	4.82%	3.28%	0.00%	0.00%	0.00%	0.00%
IRSPX Voya Target Retirement 2045 Fund	10.37%	11.68%	3.04%	2.02%	6.08%	22.70%	3.26%	4.76%	5.54%	5.68%	2.00%	0.44%

Frequently Asked Questions

Can I hold both FHAPX and IRSPX in my portfolio?

FHAPX and IRSPX have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FHAPX or IRSPX?

FHAPX has higher volatility (4.14%) compared to IRSPX (3.55%). In terms of maximum drawdown, FHAPX dropped -31.30% vs IRSPX's -32.60%.

Which has better risk-adjusted returns?

IRSPX currently has the higher Sharpe Ratio (2.74 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.