FHEDX vs. FRBEX

Last updated Jun 25, 2026

FHEDX (Fidelity Freedom Blend 2050 Fund Class K6) and FRBEX (Fidelity Freedom 2070 Fund Class K) are both Target Retirement Date funds from Fidelity. Over the past year, FHEDX returned 25.88% vs 26.46% for FRBEX. With a 0.98 correlation, they move nearly in lockstep. FHEDX charges 0.29%/yr vs 0.65%/yr for FRBEX.

Performance

FHEDX vs. FRBEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Freedom Blend 2050 Fund Class K6 (FHEDX) and Fidelity Freedom 2070 Fund Class K (FRBEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with FHEDX having a 11.72% return and FRBEX slightly higher at 12.05%.

FHEDX

• 1D: -2.18%
• 1M: 0.73%
• YTD: 11.72%
• 6M: 10.99%
• 1Y: 25.88%
• 3Y*: 20.42%
• 5Y*: 10.24%
• 10Y*: —

FRBEX

• 1D: -2.25%
• 1M: 0.75%
• YTD: 12.05%
• 6M: 11.36%
• 1Y: 26.46%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FHEDX vs. FRBEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FHEDX Fidelity Freedom Blend 2050 Fund Class K6	11.72%	22.89%	6.04%
FRBEX Fidelity Freedom 2070 Fund Class K	12.05%	23.38%	3.52%

Correlation

The correlation between FHEDX and FRBEX is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	1.00
Correlation (All Time) Calculated using the full available price history since Jul 3, 2024	0.98

The correlation between FHEDX and FRBEX has been stable across timeframes, ranging from 0.98 to 1.00 - a consistent structural relationship.

Return for Risk

FHEDX vs. FRBEX — Risk / Return Rank

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

FHEDX

FHEDX Risk / Return Rank: 65
FHEDX Sharpe Ratio Rank: 62
FHEDX Sortino Ratio Rank: 57
FHEDX Omega Ratio Rank: 61
FHEDX Calmar Ratio Rank: 68
FHEDX Martin Ratio Rank: 75

FRBEX

FRBEX Risk / Return Rank: 68
FRBEX Sharpe Ratio Rank: 66
FRBEX Sortino Ratio Rank: 62
FRBEX Omega Ratio Rank: 65
FRBEX Calmar Ratio Rank: 70
FRBEX Martin Ratio Rank: 77

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.

FHEDX vs. FRBEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Freedom Blend 2050 Fund Class K6 (FHEDX) and Fidelity Freedom 2070 Fund Class K (FRBEX). 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.

	FHEDX	FRBEX	Difference
Sharpe ratio: Return per unit of total volatility	2.03	2.03	0.00
Sortino ratio: Return per unit of downside risk	2.77	2.78	0.00
Omega ratio: Gain probability vs. loss probability	1.38	1.38	0.00
Calmar ratio: Return relative to maximum drawdown	2.92	2.89	+0.02
Martin ratio: Return relative to average drawdown	12.65	12.56	+0.09

FHEDX vs. FRBEX - Sharpe Ratio Comparison

The current FHEDX Sharpe Ratio is 2.03, which is comparable to the FRBEX Sharpe Ratio of 2.03. The chart below compares the historical Sharpe Ratios of FHEDX and FRBEX, 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

FHEDX vs. FRBEX - Drawdown Comparison

The maximum FHEDX drawdown since its inception was -31.34%, which is greater than FRBEX's maximum drawdown of -15.31%. Use the drawdown chart below to compare losses from any high point for FHEDX and FRBEX.

Drawdown Indicators

	FHEDX	FRBEX	Difference
Max Drawdown Largest peak-to-trough decline	-31.34%	-15.31%	-16.03%
Max Drawdown (1Y) Largest decline over 1 year	-9.53%	-9.79%	+0.26%
Max Drawdown (3Y) Largest decline over 3 years	-15.52%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-27.65%	—	—
Current Drawdown Current decline from peak	-2.36%	-2.46%	+0.10%
Average Drawdown Average peak-to-trough decline	-5.80%	-1.78%	-4.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.19%	2.25%	-0.06%

Volatility

FHEDX vs. FRBEX - Volatility Comparison

Fidelity Freedom Blend 2050 Fund Class K6 (FHEDX) and Fidelity Freedom 2070 Fund Class K (FRBEX) have volatilities of 6.07% and 6.20%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FHEDX	FRBEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.07%	6.20%	-0.13%
Volatility (6M) Calculated over the trailing 6-month period	11.66%	11.93%	-0.27%
Volatility (1Y) Calculated over the trailing 1-year period	13.71%	13.96%	-0.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.30%	16.14%	-0.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.98%	16.14%	+0.84%

FHEDX vs. FRBEX - Expense Ratio Comparison

FHEDX has a 0.29% expense ratio, which is lower than FRBEX's 0.65% expense ratio.

Dividends

FHEDX vs. FRBEX - Dividend Comparison

FHEDX's dividend yield for the trailing twelve months is around 3.42%, less than FRBEX's 4.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
FHEDX Fidelity Freedom Blend 2050 Fund Class K6	3.42%	2.56%	5.13%	1.95%	6.32%	8.45%	4.87%	3.32%	3.71%
FRBEX Fidelity Freedom 2070 Fund Class K	4.18%	2.38%	2.40%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FHEDX and FRBEX in my portfolio?

With a correlation of 1.00, FHEDX and FRBEX 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, FHEDX or FRBEX?

FRBEX has higher volatility (6.20%) compared to FHEDX (6.07%). In terms of maximum drawdown, FHEDX dropped -31.34% vs FRBEX's -15.31%.

Which has better risk-adjusted returns?

FRBEX currently has the higher Sharpe Ratio (2.03 vs 2.03), 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.