FHRDX vs. TBLEX

Last updated Jun 5, 2026

FHRDX (Fidelity Freedom Blend Income Fund Class K6) and TBLEX (T. Rowe Price Retirement Blend 2025 Fund) are both Target Retirement Date funds. Over the past 3 years, FHRDX returned 8.01%/yr vs 13.07%/yr for TBLEX. A 0.77 correlation means they provide meaningful diversification when combined. FHRDX charges 0.21%/yr vs 0.22%/yr for TBLEX.

Performance

FHRDX vs. TBLEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Freedom Blend Income Fund Class K6 (FHRDX) and T. Rowe Price Retirement Blend 2025 Fund (TBLEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FHRDX achieves a 4.84% return, which is significantly lower than TBLEX's 6.76% return.

FHRDX

• 1D: -0.28%
• 1M: 1.21%
• YTD: 4.84%
• 6M: 5.16%
• 1Y: 11.00%
• 3Y*: 8.01%
• 5Y*: 3.14%
• 10Y*: —

TBLEX

• 1D: -0.43%
• 1M: 2.01%
• YTD: 6.76%
• 6M: 7.12%
• 1Y: 16.53%
• 3Y*: 13.07%
• 5Y*: —
• 10Y*: —

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

FHRDX vs. TBLEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
FHRDX Fidelity Freedom Blend Income Fund Class K6	4.84%	10.18%	4.41%	8.29%	-11.59%	0.16%
TBLEX T. Rowe Price Retirement Blend 2025 Fund	6.76%	13.88%	10.29%	15.00%	-15.23%	2.43%

Correlation

The correlation between FHRDX and TBLEX is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.86
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (All Time) Calculated using the full available price history since Aug 2, 2021	0.77

The correlation between FHRDX and TBLEX has been stable across timeframes, ranging from 0.77 to 0.86 - a consistent structural relationship.

Return for Risk

FHRDX vs. TBLEX — Risk / Return Rank

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

FHRDX

FHRDX Risk / Return Rank: 76
FHRDX Sharpe Ratio Rank: 77
FHRDX Sortino Ratio Rank: 79
FHRDX Omega Ratio Rank: 79
FHRDX Calmar Ratio Rank: 69
FHRDX Martin Ratio Rank: 75

TBLEX

TBLEX Risk / Return Rank: 66
TBLEX Sharpe Ratio Rank: 67
TBLEX Sortino Ratio Rank: 69
TBLEX Omega Ratio Rank: 69
TBLEX Calmar Ratio Rank: 59
TBLEX Martin Ratio Rank: 68

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. TBLEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Freedom Blend Income Fund Class K6 (FHRDX) and T. Rowe Price Retirement Blend 2025 Fund (TBLEX). 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.

	FHRDX	TBLEX	Difference
Sharpe ratio: Return per unit of total volatility	2.52	2.37	+0.14
Sortino ratio: Return per unit of downside risk	3.73	3.41	+0.32
Omega ratio: Gain probability vs. loss probability	1.51	1.46	+0.05
Calmar ratio: Return relative to maximum drawdown	3.12	2.90	+0.22
Martin ratio: Return relative to average drawdown	13.80	12.92	+0.89
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FHRDX vs. TBLEX - Sharpe Ratio Comparison

The current FHRDX Sharpe Ratio is 2.52, which is comparable to the TBLEX Sharpe Ratio of 2.37. The chart below compares the historical Sharpe Ratios of FHRDX and TBLEX, 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

	FHRDX	TBLEX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.52	2.37	+0.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.59	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.90	0.64	+0.26

Drawdowns

FHRDX vs. TBLEX - Drawdown Comparison

The maximum FHRDX drawdown since its inception was -16.01%, smaller than the maximum TBLEX drawdown of -21.51%. Use the drawdown chart below to compare losses from any high point for FHRDX and TBLEX.

Drawdown Indicators

	FHRDX	TBLEX	Difference
Max Drawdown Largest peak-to-trough decline	-16.01%	-21.51%	+5.50%
Max Drawdown (1Y) Largest decline over 1 year	-3.70%	-5.80%	+2.10%
Max Drawdown (3Y) Largest decline over 3 years	-4.89%	-8.94%	+4.05%
Max Drawdown (5Y) Largest decline over 5 years	-16.01%	—	—
Current Drawdown Current decline from peak	-0.28%	-0.43%	+0.15%
Average Drawdown Average peak-to-trough decline	-3.21%	-5.41%	+2.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.83%	1.30%	-0.47%

Volatility

FHRDX vs. TBLEX - Volatility Comparison

The current volatility for Fidelity Freedom Blend Income Fund Class K6 (FHRDX) is 1.86%, while T. Rowe Price Retirement Blend 2025 Fund (TBLEX) has a volatility of 2.28%. This indicates that FHRDX experiences smaller price fluctuations and is considered to be less risky than TBLEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FHRDX	TBLEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.86%	2.28%	-0.42%
Volatility (6M) Calculated over the trailing 6-month period	3.86%	5.75%	-1.89%
Volatility (1Y) Calculated over the trailing 1-year period	4.58%	7.09%	-2.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.38%	9.80%	-4.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.99%	9.80%	-4.81%

FHRDX vs. TBLEX - Expense Ratio Comparison

FHRDX has a 0.21% expense ratio, which is lower than TBLEX's 0.22% 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. TBLEX - Dividend Comparison

FHRDX's dividend yield for the trailing twelve months is around 3.14%, more than TBLEX's 3.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
FHRDX Fidelity Freedom Blend Income Fund Class K6	3.14%	3.32%	3.21%	3.05%	4.82%	4.13%	2.75%	2.54%	1.55%
TBLEX T. Rowe Price Retirement Blend 2025 Fund	3.04%	3.25%	2.73%	2.41%	3.09%	2.07%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FHRDX and TBLEX in my portfolio?

FHRDX and TBLEX have a correlation of 0.86, 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 TBLEX?

TBLEX has higher volatility (2.28%) compared to FHRDX (1.86%). In terms of maximum drawdown, FHRDX dropped -16.01% vs TBLEX's -21.51%.

Which has better risk-adjusted returns?

FHRDX currently has the higher Sharpe Ratio (2.52 vs 2.37), 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.