FHASX vs. GBAB

Last updated Jun 24, 2026

FHASX (Fidelity Freedom Blend 2035 Fund) is Target Retirement Date fund managed by Fidelity, while GBAB (Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust) is a stock. Over the past 5 years, FHASX returned 8.09%/yr vs -2.31%/yr for GBAB. At a 0.25 correlation, their price movements are largely independent.

Performance

FHASX vs. GBAB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Freedom Blend 2035 Fund (FHASX) and Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust (GBAB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FHASX achieves a 10.38% return, which is significantly higher than GBAB's -0.59% return.

FHASX

• 1D: -0.27%
• 1M: 2.29%
• YTD: 10.38%
• 6M: 10.04%
• 1Y: 22.64%
• 3Y*: 16.78%
• 5Y*: 8.09%
• 10Y*: —

GBAB

• 1D: 0.00%
• 1M: 2.27%
• YTD: -0.59%
• 6M: -1.45%
• 1Y: 4.98%
• 3Y*: 5.40%
• 5Y*: -2.31%
• 10Y*: 2.94%

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

FHASX vs. GBAB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FHASX Fidelity Freedom Blend 2035 Fund	10.38%	18.32%	13.29%	17.57%	-18.33%	14.11%	16.71%	25.44%	-13.80%
GBAB Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust	-0.59%	8.38%	2.86%	8.57%	-25.10%	-0.92%	14.69%	15.16%	2.37%

Correlation

The correlation between FHASX and GBAB is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.43
Correlation (3Y) Calculated over the trailing 3-year period	0.36
Correlation (5Y) Calculated over the trailing 5-year period	0.34
Correlation (All Time) Calculated using the full available price history since Aug 31, 2018	0.25

The correlation between FHASX and GBAB shifts across timeframes, from 0.25 (all time) to 0.43 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

FHASX vs. GBAB — Risk / Return Rank

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

FHASX

FHASX Risk / Return Rank: 73
FHASX Sharpe Ratio Rank: 72
FHASX Sortino Ratio Rank: 71
FHASX Omega Ratio Rank: 72
FHASX Calmar Ratio Rank: 73
FHASX Martin Ratio Rank: 77

GBAB

GBAB Risk / Return Rank: 53
GBAB Sharpe Ratio Rank: 58
GBAB Sortino Ratio Rank: 48
GBAB Omega Ratio Rank: 48
GBAB Calmar Ratio Rank: 55
GBAB Martin Ratio Rank: 57

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.

FHASX vs. GBAB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Freedom Blend 2035 Fund (FHASX) and Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust (GBAB). 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.

	FHASX	GBAB	Difference
Sharpe ratio: Return per unit of total volatility	2.27	0.44	+1.83
Sortino ratio: Return per unit of downside risk	3.19	0.71	+2.48
Omega ratio: Gain probability vs. loss probability	1.43	1.09	+0.34
Calmar ratio: Return relative to maximum drawdown	3.16	0.50	+2.65
Martin ratio: Return relative to average drawdown	13.47	1.42	+12.05

FHASX vs. GBAB - Sharpe Ratio Comparison

The current FHASX Sharpe Ratio is 2.27, which is higher than the GBAB Sharpe Ratio of 0.44. The chart below compares the historical Sharpe Ratios of FHASX and GBAB, 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

FHASX vs. GBAB - Drawdown Comparison

The maximum FHASX drawdown since its inception was -29.13%, smaller than the maximum GBAB drawdown of -35.81%. Use the drawdown chart below to compare losses from any high point for FHASX and GBAB.

Drawdown Indicators

	FHASX	GBAB	Difference
Max Drawdown Largest peak-to-trough decline	-29.13%	-35.81%	+6.68%
Max Drawdown (1Y) Largest decline over 1 year	-7.43%	-9.98%	+2.55%
Max Drawdown (3Y) Largest decline over 3 years	-11.66%	-17.29%	+5.63%
Max Drawdown (5Y) Largest decline over 5 years	-26.40%	-35.81%	+9.41%
Max Drawdown (10Y) Largest decline over 10 years	—	-35.81%	—
Current Drawdown Current decline from peak	-0.27%	-13.94%	+13.67%
Average Drawdown Average peak-to-trough decline	-5.76%	-8.30%	+2.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.74%	3.51%	-1.77%

Volatility

FHASX vs. GBAB - Volatility Comparison

Fidelity Freedom Blend 2035 Fund (FHASX) has a higher volatility of 4.27% compared to Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust (GBAB) at 1.57%. This indicates that FHASX's price experiences larger fluctuations and is considered to be riskier than GBAB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FHASX	GBAB	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.27%	1.57%	+2.70%
Volatility (6M) Calculated over the trailing 6-month period	8.74%	8.53%	+0.21%
Volatility (1Y) Calculated over the trailing 1-year period	10.35%	11.29%	-0.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.61%	14.63%	-2.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.74%	14.96%	-0.22%

Dividends

FHASX vs. GBAB - Dividend Comparison

FHASX's dividend yield for the trailing twelve months is around 3.53%, less than GBAB's 10.71% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FHASX Fidelity Freedom Blend 2035 Fund	3.53%	2.95%	4.66%	2.04%	5.70%	7.94%	4.87%	3.48%	0.00%	0.00%	0.00%	0.00%
GBAB Guggenheim Taxable Municipal Bond & Investment Grade Debt Trust	10.71%	10.11%	9.93%	9.32%	9.22%	6.36%	5.92%	6.37%	6.88%	6.64%	7.51%	7.78%

Frequently Asked Questions

Can I hold both FHASX and GBAB in my portfolio?

FHASX and GBAB have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FHASX or GBAB?

FHASX has higher volatility (4.27%) compared to GBAB (1.57%). In terms of maximum drawdown, FHASX dropped -29.13% vs GBAB's -35.81%.

Which has better risk-adjusted returns?

FHASX currently has the higher Sharpe Ratio (2.27 vs 0.44), 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.