FHRDX vs. IRSOX

Last updated Jun 23, 2026

FHRDX (Fidelity Freedom Blend Income Fund Class K6) and IRSOX (Voya Target Retirement 2040 Fund) are both Target Retirement Date funds. Over the past 5 years, FHRDX returned 3.27%/yr vs 9.58%/yr for IRSOX. A 0.71 correlation means they provide meaningful diversification when combined. FHRDX charges 0.21%/yr vs 0.23%/yr for IRSOX.

Performance

FHRDX vs. IRSOX - Performance Comparison

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

Returns By Period

In the year-to-date period, FHRDX achieves a 5.20% return, which is significantly lower than IRSOX's 11.15% return.

FHRDX

• 1D: 0.65%
• 1M: 1.27%
• YTD: 5.20%
• 6M: 5.31%
• 1Y: 11.25%
• 3Y*: 7.86%
• 5Y*: 3.27%
• 10Y*: —

IRSOX

• 1D: 1.00%
• 1M: 1.72%
• YTD: 11.15%
• 6M: 11.03%
• 1Y: 25.96%
• 3Y*: 17.22%
• 5Y*: 9.58%
• 10Y*: 11.25%

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

FHRDX vs. IRSOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FHRDX Fidelity Freedom Blend Income Fund Class K6	5.20%	10.18%	4.41%	8.29%	-11.59%	3.03%	8.77%	10.78%	-2.11%
IRSOX Voya Target Retirement 2040 Fund	11.15%	19.10%	13.74%	19.25%	-18.43%	17.65%	16.93%	23.69%	-10.98%

Correlation

The correlation between FHRDX and IRSOX is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.76
Correlation (3Y) Calculated over the trailing 3-year period	0.73
Correlation (5Y) Calculated over the trailing 5-year period	0.70
Correlation (All Time) Calculated using the full available price history since Aug 31, 2018	0.71

The correlation between FHRDX and IRSOX has been stable across timeframes, ranging from 0.70 to 0.76 - a consistent structural relationship.

Return for Risk

FHRDX vs. IRSOX — Risk / Return Rank

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

FHRDX

FHRDX Risk / Return Rank: 74
FHRDX Sharpe Ratio Rank: 72
FHRDX Sortino Ratio Rank: 75
FHRDX Omega Ratio Rank: 78
FHRDX Calmar Ratio Rank: 70
FHRDX Martin Ratio Rank: 75

IRSOX

IRSOX Risk / Return Rank: 81
IRSOX Sharpe Ratio Rank: 82
IRSOX Sortino Ratio Rank: 81
IRSOX Omega Ratio Rank: 77
IRSOX Calmar Ratio Rank: 78
IRSOX Martin Ratio Rank: 88

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.

FHRDX vs. IRSOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Freedom Blend Income Fund Class K6 (FHRDX) and Voya Target Retirement 2040 Fund (IRSOX). 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.

	FHRDX	IRSOX	Difference
Sharpe ratio: Return per unit of total volatility	2.27	2.46	-0.20
Sortino ratio: Return per unit of downside risk	3.29	3.54	-0.25
Omega ratio: Gain probability vs. loss probability	1.46	1.46	+0.01
Calmar ratio: Return relative to maximum drawdown	3.07	3.34	-0.28
Martin ratio: Return relative to average drawdown	13.24	15.54	-2.30

FHRDX vs. IRSOX - Sharpe Ratio Comparison

The current FHRDX Sharpe Ratio is 2.27, which is comparable to the IRSOX Sharpe Ratio of 2.46. The chart below compares the historical Sharpe Ratios of FHRDX and IRSOX, 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

FHRDX vs. IRSOX - Drawdown Comparison

The maximum FHRDX drawdown since its inception was -16.01%, smaller than the maximum IRSOX drawdown of -31.25%. Use the drawdown chart below to compare losses from any high point for FHRDX and IRSOX.

Drawdown Indicators

	FHRDX	IRSOX	Difference
Max Drawdown Largest peak-to-trough decline	-16.01%	-31.25%	+15.24%
Max Drawdown (1Y) Largest decline over 1 year	-3.70%	-8.38%	+4.68%
Max Drawdown (3Y) Largest decline over 3 years	-4.89%	-13.84%	+8.95%
Max Drawdown (5Y) Largest decline over 5 years	-16.01%	-25.24%	+9.23%
Max Drawdown (10Y) Largest decline over 10 years	—	-31.25%	—
Current Drawdown Current decline from peak	0.00%	-0.46%	+0.46%
Average Drawdown Average peak-to-trough decline	-3.19%	-4.27%	+1.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.85%	1.74%	-0.89%

Volatility

FHRDX vs. IRSOX - Volatility Comparison

The current volatility for Fidelity Freedom Blend Income Fund Class K6 (FHRDX) is 2.37%, while Voya Target Retirement 2040 Fund (IRSOX) has a volatility of 4.38%. This indicates that FHRDX experiences smaller price fluctuations and is considered to be less risky than IRSOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FHRDX	IRSOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.37%	4.38%	-2.01%
Volatility (6M) Calculated over the trailing 6-month period	4.34%	9.34%	-5.00%
Volatility (1Y) Calculated over the trailing 1-year period	5.01%	11.38%	-6.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.45%	13.96%	-8.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.03%	14.84%	-9.81%

FHRDX vs. IRSOX - Expense Ratio Comparison

FHRDX has a 0.21% expense ratio, which is lower than IRSOX's 0.23% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

FHRDX vs. IRSOX - Dividend Comparison

FHRDX's dividend yield for the trailing twelve months is around 3.10%, less than IRSOX's 12.33% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FHRDX Fidelity Freedom Blend Income Fund Class K6	3.10%	3.32%	3.21%	3.05%	4.82%	4.13%	2.75%	2.54%	1.55%	0.00%	0.00%	0.00%
IRSOX Voya Target Retirement 2040 Fund	12.33%	13.71%	2.25%	2.13%	6.01%	17.52%	3.71%	4.14%	5.84%	5.86%	1.98%	0.41%

Frequently Asked Questions

Can I hold both FHRDX and IRSOX in my portfolio?

FHRDX and IRSOX have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FHRDX or IRSOX?

IRSOX has higher volatility (4.38%) compared to FHRDX (2.37%). In terms of maximum drawdown, FHRDX dropped -16.01% vs IRSOX's -31.25%.

Which has better risk-adjusted returns?

IRSOX currently has the higher Sharpe Ratio (2.46 vs 2.27), 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.