FHLEX vs. FQLSX

Last updated Jun 23, 2026

FHLEX (Fidelity Advisor Freedom Blend 2060 Fund Class C) and FQLSX (Fidelity Flex Freedom Blend 2055 Fund) are both Target Retirement Date funds from Fidelity. Over the past 5 years, FHLEX returned 9.77%/yr vs 11.71%/yr for FQLSX. With a 1.00 correlation, they move nearly in lockstep. FHLEX charges 1.49%/yr vs 0.00%/yr for FQLSX.

Performance

FHLEX vs. FQLSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Freedom Blend 2060 Fund Class C (FHLEX) and Fidelity Flex Freedom Blend 2055 Fund (FQLSX). 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 FHLEX having a 14.07% return and FQLSX slightly higher at 14.75%.

FHLEX

• 1D: 1.47%
• 1M: 3.11%
• YTD: 14.07%
• 6M: 13.96%
• 1Y: 30.24%
• 3Y*: 18.95%
• 5Y*: 9.77%
• 10Y*: —

FQLSX

• 1D: 1.49%
• 1M: 3.14%
• YTD: 14.75%
• 6M: 14.78%
• 1Y: 31.83%
• 3Y*: 21.10%
• 5Y*: 11.71%
• 10Y*: —

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

FHLEX vs. FQLSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FHLEX Fidelity Advisor Freedom Blend 2060 Fund Class C	14.07%	21.44%	14.62%	19.36%	-20.06%	15.11%	16.57%	25.12%	-12.17%
FQLSX Fidelity Flex Freedom Blend 2055 Fund	14.75%	22.80%	18.08%	21.04%	-18.58%	16.89%	18.43%	25.96%	-12.40%

Correlation

The correlation between FHLEX and FQLSX 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 Aug 31, 2018	1.00

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

Return for Risk

FHLEX vs. FQLSX — Risk / Return Rank

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

FHLEX

FHLEX Risk / Return Rank: 68
FHLEX Sharpe Ratio Rank: 67
FHLEX Sortino Ratio Rank: 62
FHLEX Omega Ratio Rank: 65
FHLEX Calmar Ratio Rank: 69
FHLEX Martin Ratio Rank: 76

FQLSX

FQLSX Risk / Return Rank: 77
FQLSX Sharpe Ratio Rank: 77
FQLSX Sortino Ratio Rank: 72
FQLSX Omega Ratio Rank: 73
FQLSX Calmar Ratio Rank: 78
FQLSX Martin Ratio Rank: 84

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.

FHLEX vs. FQLSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Freedom Blend 2060 Fund Class C (FHLEX) and Fidelity Flex Freedom Blend 2055 Fund (FQLSX). 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.

	FHLEX	FQLSX	Difference
Sharpe ratio: Return per unit of total volatility	2.20	2.35	-0.16
Sortino ratio: Return per unit of downside risk	3.00	3.21	-0.21
Omega ratio: Gain probability vs. loss probability	1.41	1.44	-0.03
Calmar ratio: Return relative to maximum drawdown	3.06	3.35	-0.29
Martin ratio: Return relative to average drawdown	13.29	14.50	-1.22

FHLEX vs. FQLSX - Sharpe Ratio Comparison

The current FHLEX Sharpe Ratio is 2.20, which is comparable to the FQLSX Sharpe Ratio of 2.35. The chart below compares the historical Sharpe Ratios of FHLEX and FQLSX, 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

FHLEX vs. FQLSX - Drawdown Comparison

The maximum FHLEX drawdown since its inception was -31.46%, roughly equal to the maximum FQLSX drawdown of -31.26%. Use the drawdown chart below to compare losses from any high point for FHLEX and FQLSX.

Drawdown Indicators

	FHLEX	FQLSX	Difference
Max Drawdown Largest peak-to-trough decline	-31.46%	-31.26%	-0.20%
Max Drawdown (1Y) Largest decline over 1 year	-9.80%	-9.48%	-0.32%
Max Drawdown (3Y) Largest decline over 3 years	-15.64%	-15.37%	-0.27%
Max Drawdown (5Y) Largest decline over 5 years	-28.53%	-27.41%	-1.12%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-6.29%	-5.41%	-0.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.25%	2.18%	+0.07%

Volatility

FHLEX vs. FQLSX - Volatility Comparison

Fidelity Advisor Freedom Blend 2060 Fund Class C (FHLEX) and Fidelity Flex Freedom Blend 2055 Fund (FQLSX) have volatilities of 5.79% and 5.72%, 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

	FHLEX	FQLSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.79%	5.72%	+0.07%
Volatility (6M) Calculated over the trailing 6-month period	11.60%	11.45%	+0.15%
Volatility (1Y) Calculated over the trailing 1-year period	13.64%	13.48%	+0.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.29%	15.28%	+0.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.97%	16.13%	+0.84%

FHLEX vs. FQLSX - Expense Ratio Comparison

FHLEX has a 1.49% expense ratio, which is higher than FQLSX's 0.00% expense ratio.

Dividends

FHLEX vs. FQLSX - Dividend Comparison

FHLEX's dividend yield for the trailing twelve months is around 2.76%, less than FQLSX's 4.56% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FHLEX Fidelity Advisor Freedom Blend 2060 Fund Class C	2.76%	1.84%	4.03%	1.31%	5.07%	7.39%	3.60%	2.30%	3.06%	0.00%
FQLSX Fidelity Flex Freedom Blend 2055 Fund	4.56%	3.32%	7.20%	2.08%	5.79%	8.05%	5.76%	7.02%	8.18%	3.10%

Frequently Asked Questions

Can I hold both FHLEX and FQLSX in my portfolio?

With a correlation of 1.00, FHLEX and FQLSX 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, FHLEX or FQLSX?

FHLEX has higher volatility (5.79%) compared to FQLSX (5.72%). In terms of maximum drawdown, FHLEX dropped -31.46% vs FQLSX's -31.26%.

Which has better risk-adjusted returns?

FQLSX currently has the higher Sharpe Ratio (2.35 vs 2.20), 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.