FHMEX vs. FHKEX
FHMEX (Fidelity Advisor Freedom Blend 2060 Fund Class M) and FHKEX (Fidelity Advisor Freedom Blend 2060 Fund Class I) are both Target Retirement Date funds from Fidelity. Over the past 5 years, FHMEX returned 10.45%/yr vs 11.07%/yr for FHKEX. With a 1.00 correlation, they move nearly in lockstep. FHMEX charges 0.99%/yr vs 0.49%/yr for FHKEX.
Performance
FHMEX vs. FHKEX - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with FHMEX having a 14.31% return and FHKEX slightly higher at 14.66%.
FHMEX
- 1D
- 1.50%
- 1M
- 3.18%
- YTD
- 14.31%
- 6M
- 14.33%
- 1Y
- 30.92%
- 3Y*
- 19.67%
- 5Y*
- 10.45%
- 10Y*
- —
FHKEX
- 1D
- 1.54%
- 1M
- 3.19%
- YTD
- 14.66%
- 6M
- 14.56%
- 1Y
- 31.65%
- 3Y*
- 20.40%
- 5Y*
- 11.07%
- 10Y*
- —
FHMEX vs. FHKEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FHMEX Fidelity Advisor Freedom Blend 2060 Fund Class M | 14.31% | 22.07% | 15.63% | 19.88% | -19.47% | 15.67% | 17.17% | 25.76% | -12.02% |
FHKEX Fidelity Advisor Freedom Blend 2060 Fund Class I | 14.66% | 22.58% | 16.57% | 20.51% | -19.11% | 16.30% | 17.81% | 26.34% | -11.86% |
Correlation
The correlation between FHMEX and FHKEX 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 FHMEX and FHKEX has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.
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Return for Risk
FHMEX vs. FHKEX — Risk / Return Rank
FHMEX
FHKEX
FHMEX vs. FHKEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Freedom Blend 2060 Fund Class M (FHMEX) and Fidelity Advisor Freedom Blend 2060 Fund Class I (FHKEX). 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.
| FHMEX | FHKEX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.05 | ||
| Sortino ratioReturn per unit of downside risk | -0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.42 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.16 | 3.25 | -0.09 |
| Martin ratioReturn relative to average drawdown | 13.70 | 14.10 | -0.40 |
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Drawdowns
FHMEX vs. FHKEX - Drawdown Comparison
The maximum FHMEX drawdown since its inception was -31.37%, roughly equal to the maximum FHKEX drawdown of -31.34%. Use the drawdown chart below to compare losses from any high point for FHMEX and FHKEX.
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Drawdown Indicators
| FHMEX | FHKEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.37% | -31.34% | -0.03% |
Max Drawdown (1Y)Largest decline over 1 year | -9.70% | -9.63% | -0.07% |
Max Drawdown (3Y)Largest decline over 3 years | -15.56% | -15.54% | -0.02% |
Max Drawdown (5Y)Largest decline over 5 years | -28.17% | -27.78% | -0.39% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -6.06% | -5.88% | -0.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.23% | 2.22% | +0.01% |
Volatility
FHMEX vs. FHKEX - Volatility Comparison
Fidelity Advisor Freedom Blend 2060 Fund Class M (FHMEX) and Fidelity Advisor Freedom Blend 2060 Fund Class I (FHKEX) have volatilities of 5.83% and 5.87%, 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.
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Volatility by Period
| FHMEX | FHKEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.83% | 5.87% | -0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 11.67% | 11.62% | +0.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.70% | 13.66% | +0.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.28% | 15.28% | 0.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.98% | 16.96% | +0.02% |
FHMEX vs. FHKEX - Expense Ratio Comparison
FHMEX has a 0.99% expense ratio, which is higher than FHKEX's 0.49% expense ratio.
Dividends
FHMEX vs. FHKEX - Dividend Comparison
FHMEX's dividend yield for the trailing twelve months is around 2.98%, less than FHKEX's 3.20% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
FHKEX Fidelity Advisor Freedom Blend 2060 Fund Class I | 3.20% | 2.38% | 5.19% | 1.90% | 5.97% | 8.03% | 4.11% | 3.00% | 3.43% |
FHMEX Fidelity Advisor Freedom Blend 2060 Fund Class M | 2.98% | 2.11% | 4.61% | 1.63% | 5.59% | 7.69% | 3.89% | 2.53% | 3.24% |
Frequently Asked Questions
With a correlation of 1.00, FHMEX and FHKEX 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.
FHKEX has higher volatility (5.87%) compared to FHMEX (5.83%). In terms of maximum drawdown, FHMEX dropped -31.37% vs FHKEX's -31.34%.
FHKEX currently has the higher Sharpe Ratio (2.29 vs 2.24), 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.
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