FHAVX vs. FFGZX

Last updated Jun 23, 2026

FHAVX (Fidelity Freedom Blend 2020 Fund) and FFGZX (Fidelity Freedom Index Income Fund Institutional Premium Class) are both Target Retirement Date funds from Fidelity. Over the past 5 years, FHAVX returned 5.00%/yr vs 3.15%/yr for FFGZX. Their correlation of 0.85 suggests significant overlap in exposure. FHAVX charges 0.44%/yr vs 0.08%/yr for FFGZX.

Performance

FHAVX vs. FFGZX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Freedom Blend 2020 Fund (FHAVX) and Fidelity Freedom Index Income Fund Institutional Premium Class (FFGZX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FHAVX achieves a 7.41% return, which is significantly higher than FFGZX's 3.98% return.

FHAVX

• 1D: 0.81%
• 1M: 1.80%
• YTD: 7.41%
• 6M: 7.53%
• 1Y: 16.81%
• 3Y*: 11.18%
• 5Y*: 5.00%
• 10Y*: —

FFGZX

• 1D: 0.47%
• 1M: 0.81%
• YTD: 3.98%
• 6M: 4.04%
• 1Y: 9.64%
• 3Y*: 7.32%
• 5Y*: 3.15%
• 10Y*: 4.26%

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

FHAVX vs. FFGZX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FHAVX Fidelity Freedom Blend 2020 Fund	7.41%	14.31%	7.02%	12.71%	-16.58%	8.62%	13.01%	18.41%	-8.20%
FFGZX Fidelity Freedom Index Income Fund Institutional Premium Class	3.98%	9.13%	5.02%	8.32%	-11.07%	2.85%	8.59%	10.68%	-2.04%

Correlation

The correlation between FHAVX and FFGZX is 0.93, 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	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.88
Correlation (All Time) Calculated using the full available price history since Aug 31, 2018	0.85

The correlation between FHAVX and FFGZX has been stable across timeframes, ranging from 0.85 to 0.93 - a consistent structural relationship.

Return for Risk

FHAVX vs. FFGZX — Risk / Return Rank

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

FHAVX

FHAVX Risk / Return Rank: 72
FHAVX Sharpe Ratio Rank: 72
FHAVX Sortino Ratio Rank: 72
FHAVX Omega Ratio Rank: 75
FHAVX Calmar Ratio Rank: 69
FHAVX Martin Ratio Rank: 74

FFGZX

FFGZX Risk / Return Rank: 71
FFGZX Sharpe Ratio Rank: 71
FFGZX Sortino Ratio Rank: 75
FFGZX Omega Ratio Rank: 77
FFGZX Calmar Ratio Rank: 63
FFGZX Martin Ratio Rank: 70

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.

FHAVX vs. FFGZX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Freedom Blend 2020 Fund (FHAVX) and Fidelity Freedom Index Income Fund Institutional Premium Class (FFGZX). 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.

	FHAVX	FFGZX	Difference
Sharpe ratio: Return per unit of total volatility	2.27	2.25	+0.02
Sortino ratio: Return per unit of downside risk	3.23	3.29	-0.07
Omega ratio: Gain probability vs. loss probability	1.45	1.45	-0.01
Calmar ratio: Return relative to maximum drawdown	3.05	2.91	+0.14
Martin ratio: Return relative to average drawdown	13.08	12.65	+0.44

FHAVX vs. FFGZX - Sharpe Ratio Comparison

The current FHAVX Sharpe Ratio is 2.27, which is comparable to the FFGZX Sharpe Ratio of 2.25. The chart below compares the historical Sharpe Ratios of FHAVX and FFGZX, 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

FHAVX vs. FFGZX - Drawdown Comparison

The maximum FHAVX drawdown since its inception was -22.86%, which is greater than FFGZX's maximum drawdown of -14.94%. Use the drawdown chart below to compare losses from any high point for FHAVX and FFGZX.

Drawdown Indicators

	FHAVX	FFGZX	Difference
Max Drawdown Largest peak-to-trough decline	-22.86%	-14.94%	-7.92%
Max Drawdown (1Y) Largest decline over 1 year	-5.51%	-3.33%	-2.18%
Max Drawdown (3Y) Largest decline over 3 years	-7.92%	-4.76%	-3.16%
Max Drawdown (5Y) Largest decline over 5 years	-22.86%	-14.94%	-7.92%
Max Drawdown (10Y) Largest decline over 10 years	—	-14.94%	—
Current Drawdown Current decline from peak	0.00%	-0.29%	+0.29%
Average Drawdown Average peak-to-trough decline	-4.91%	-2.26%	-2.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.28%	0.76%	+0.52%

Volatility

FHAVX vs. FFGZX - Volatility Comparison

Fidelity Freedom Blend 2020 Fund (FHAVX) has a higher volatility of 3.21% compared to Fidelity Freedom Index Income Fund Institutional Premium Class (FFGZX) at 1.92%. This indicates that FHAVX's price experiences larger fluctuations and is considered to be riskier than FFGZX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FHAVX	FFGZX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.21%	1.92%	+1.29%
Volatility (6M) Calculated over the trailing 6-month period	6.31%	3.69%	+2.62%
Volatility (1Y) Calculated over the trailing 1-year period	7.40%	4.31%	+3.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.02%	5.14%	+3.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.74%	4.46%	+5.28%

FHAVX vs. FFGZX - Expense Ratio Comparison

FHAVX has a 0.44% expense ratio, which is higher than FFGZX's 0.08% expense ratio.

Dividends

FHAVX vs. FFGZX - Dividend Comparison

FHAVX's dividend yield for the trailing twelve months is around 3.37%, more than FFGZX's 3.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FFGZX Fidelity Freedom Index Income Fund Institutional Premium Class	3.22%	3.30%	3.18%	2.88%	3.11%	2.10%	2.22%	7.35%	3.00%	1.95%	1.56%	1.06%
FHAVX Fidelity Freedom Blend 2020 Fund	3.37%	2.65%	2.43%	2.49%	5.75%	7.30%	4.22%	2.95%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FHAVX and FFGZX in my portfolio?

With a correlation of 0.93, FHAVX and FFGZX 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, FHAVX or FFGZX?

FHAVX has higher volatility (3.21%) compared to FFGZX (1.92%). In terms of maximum drawdown, FHAVX dropped -22.86% vs FFGZX's -14.94%.

Which has better risk-adjusted returns?

FHAVX currently has the higher Sharpe Ratio (2.27 vs 2.25), 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.