FHHDX vs. FHCDX

Last updated Jun 5, 2026

FHHDX (Fidelity Freedom Blend 2040 Fund Class K6) and FHCDX (Fidelity Freedom Blend 2060 Fund Class K6) are both Target Retirement Date funds from Fidelity. Over the past 5 years, FHHDX returned 9.72%/yr vs 10.63%/yr for FHCDX. With a 1.00 correlation, they move nearly in lockstep. Both charge a 0.29% expense ratio.

Performance

FHHDX vs. FHCDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Freedom Blend 2040 Fund Class K6 (FHHDX) and Fidelity Freedom Blend 2060 Fund Class K6 (FHCDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FHHDX achieves a 11.60% return, which is significantly lower than FHCDX's 13.36% return.

FHHDX

• 1D: -0.56%
• 1M: 3.24%
• YTD: 11.60%
• 6M: 12.80%
• 1Y: 26.69%
• 3Y*: 19.72%
• 5Y*: 9.72%
• 10Y*: —

FHCDX

• 1D: -0.58%
• 1M: 3.73%
• YTD: 13.36%
• 6M: 14.66%
• 1Y: 29.91%
• 3Y*: 21.32%
• 5Y*: 10.63%
• 10Y*: —

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

FHHDX vs. FHCDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FHHDX Fidelity Freedom Blend 2040 Fund Class K6	11.60%	21.35%	15.88%	20.20%	-18.87%	16.48%	18.08%	26.67%	-11.33%
FHCDX Fidelity Freedom Blend 2060 Fund Class K6	13.36%	22.85%	16.96%	20.69%	-18.85%	16.45%	18.05%	26.63%	-11.35%

Correlation

The correlation between FHHDX and FHCDX 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 (3Y) Calculated over the trailing 3-year period	1.00
Correlation (5Y) Calculated over the trailing 5-year period	1.00
Correlation (All Time) Calculated using the full available price history since Sep 14, 2018	1.00

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

Return for Risk

FHHDX vs. FHCDX — Risk / Return Rank

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

FHHDX

FHHDX Risk / Return Rank: 70
FHHDX Sharpe Ratio Rank: 70
FHHDX Sortino Ratio Rank: 67
FHHDX Omega Ratio Rank: 67
FHHDX Calmar Ratio Rank: 71
FHHDX Martin Ratio Rank: 76

FHCDX

FHCDX Risk / Return Rank: 70
FHCDX Sharpe Ratio Rank: 70
FHCDX Sortino Ratio Rank: 65
FHCDX Omega Ratio Rank: 66
FHCDX Calmar Ratio Rank: 70
FHCDX 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.

FHHDX vs. FHCDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Freedom Blend 2040 Fund Class K6 (FHHDX) and Fidelity Freedom Blend 2060 Fund Class K6 (FHCDX). 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.

	FHHDX	FHCDX	Difference
Sharpe ratio: Return per unit of total volatility	2.42	2.41	0.00
Sortino ratio: Return per unit of downside risk	3.38	3.33	+0.04
Omega ratio: Gain probability vs. loss probability	1.45	1.45	0.00
Calmar ratio: Return relative to maximum drawdown	3.20	3.18	+0.02
Martin ratio: Return relative to average drawdown	14.02	14.13	-0.11
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FHHDX vs. FHCDX - Sharpe Ratio Comparison

The current FHHDX Sharpe Ratio is 2.42, which is comparable to the FHCDX Sharpe Ratio of 2.41. The chart below compares the historical Sharpe Ratios of FHHDX and FHCDX, 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

	FHHDX	FHCDX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.42	2.41	0.00
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.68	0.71	-0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.72	0.73	-0.01

Drawdowns

FHHDX vs. FHCDX - Drawdown Comparison

The maximum FHHDX drawdown since its inception was -31.38%, roughly equal to the maximum FHCDX drawdown of -31.28%. Use the drawdown chart below to compare losses from any high point for FHHDX and FHCDX.

Drawdown Indicators

	FHHDX	FHCDX	Difference
Max Drawdown Largest peak-to-trough decline	-31.38%	-31.28%	-0.10%
Max Drawdown (1Y) Largest decline over 1 year	-8.60%	-9.68%	+1.08%
Max Drawdown (3Y) Largest decline over 3 years	-14.20%	-15.51%	+1.31%
Max Drawdown (5Y) Largest decline over 5 years	-27.54%	-27.69%	+0.15%
Current Drawdown Current decline from peak	-0.56%	-0.58%	+0.02%
Average Drawdown Average peak-to-trough decline	-5.83%	-5.83%	0.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.95%	2.17%	-0.22%

Volatility

FHHDX vs. FHCDX - Volatility Comparison

The current volatility for Fidelity Freedom Blend 2040 Fund Class K6 (FHHDX) is 3.80%, while Fidelity Freedom Blend 2060 Fund Class K6 (FHCDX) has a volatility of 4.24%. This indicates that FHHDX experiences smaller price fluctuations and is considered to be less risky than FHCDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FHHDX	FHCDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.80%	4.24%	-0.44%
Volatility (6M) Calculated over the trailing 6-month period	9.27%	10.48%	-1.21%
Volatility (1Y) Calculated over the trailing 1-year period	11.38%	12.74%	-1.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.46%	15.12%	-0.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.52%	16.90%	-0.38%

FHHDX vs. FHCDX - Expense Ratio Comparison

Both FHHDX and FHCDX have an expense ratio of 0.29%.

Dividends

FHHDX vs. FHCDX - Dividend Comparison

FHHDX's dividend yield for the trailing twelve months is around 3.86%, more than FHCDX's 3.33% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
FHCDX Fidelity Freedom Blend 2060 Fund Class K6	3.33%	2.52%	5.51%	2.05%	5.98%	8.10%	4.24%	3.04%	3.50%
FHHDX Fidelity Freedom Blend 2040 Fund Class K6	3.86%	2.91%	5.20%	1.95%	6.27%	8.46%	5.00%	3.43%	3.28%

Frequently Asked Questions

Can I hold both FHHDX and FHCDX in my portfolio?

With a correlation of 1.00, FHHDX and FHCDX 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, FHHDX or FHCDX?

FHCDX has higher volatility (4.24%) compared to FHHDX (3.80%). In terms of maximum drawdown, FHHDX dropped -31.38% vs FHCDX's -31.28%.

Which has better risk-adjusted returns?

FHHDX currently has the higher Sharpe Ratio (2.42 vs 2.41), 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.