FHVEX vs. FIRVX

Last updated Aug 1, 2026

FHVEX (Fidelity Advisor Freedom Blend 2050 Fund Class Z) and FIRVX (Fidelity Managed Retirement 2020 Fund) are both Target Retirement Date funds. Their correlation of 0.91 means they have usually moved in the same direction. FHVEX charges 0.39%/yr vs 0.47%/yr for FIRVX.

Performance

FHVEX vs. FIRVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Freedom Blend 2050 Fund Class Z (FHVEX) and Fidelity Managed Retirement 2020 Fund (FIRVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

FHVEX

• 1D: 2.29%
• 1M: -1.08%
• 6M: 7.95%
• YTD: 11.83%
• 1Y: 24.13%
• 3Y*: 17.30%
• 5Y*: 9.56%
• 10Y*: —
• ALL TIME*: 11.31%

FIRVX

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FHVEX Fidelity Advisor Freedom Blend 2050 Fund Class Z	$0.00	$0.00	$0.00

FHVEX vs. FIRVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FHVEX Fidelity Advisor Freedom Blend 2050 Fund Class Z	11.83%	22.70%	13.75%	20.57%	-18.99%	16.35%	18.03%	26.49%	-11.85%
FIRVX Fidelity Managed Retirement 2020 Fund	1,440,933.92%	12.25%	5.86%	10.72%	-14.63%	6.77%	12.06%	16.19%	-6.21%

Correlation

The correlation between FHVEX and FIRVX is 0.86, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.86
Correlation (3Y) Balances recent behavior with more history.	0.87
Correlation (5Y) Shows whether the relationship held over a longer period.	0.88
Correlation (All Time) Calculated using the full available price history since Aug 31, 2018	0.91

The correlation between FHVEX and FIRVX has been stable across timeframes, ranging from 0.86 to 0.91 - a consistent structural relationship.

Return for Risk

FHVEX vs. FIRVX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FHVEX

FHVEX Risk / Return Rank: 65
FHVEX Sharpe Ratio Rank: 62
FHVEX Sortino Ratio Rank: 59
FHVEX Omega Ratio Rank: 59
FHVEX Calmar Ratio Rank: 68
FHVEX Martin Ratio Rank: 77

FIRVX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FHVEX vs. FIRVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Freedom Blend 2050 Fund Class Z (FHVEX) and Fidelity Managed Retirement 2020 Fund (FIRVX). 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.

	FHVEX	FIRVX	Difference
Sharpe ratio: Return per unit of total volatility	1.57	—	—
Sortino ratio: Return per unit of downside risk	2.22	—	—
Omega ratio: Gain probability vs. loss probability	1.29	—	—
Calmar ratio: Return relative to maximum drawdown	2.34	—	—
Martin ratio: Return relative to average drawdown	9.78	—	—

Drawdowns

Drawdown Indicators

	FHVEX	FIRVX	Difference
Max Drawdown Largest peak-to-trough decline	-31.34%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-9.56%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-15.49%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-27.77%	—	—
Current Drawdown Current decline from peak	-2.25%	—	—
Average Drawdown Average peak-to-trough decline	-5.81%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	2.28%	—	—

Volatility

Volatility by Period

	FHVEX	FIRVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.36%	—	—
Volatility (6M) Calculated over the trailing 6-month period	12.17%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	14.21%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.33%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.93%	—	—

FHVEX vs. FIRVX - Expense Ratio Comparison

FHVEX has a 0.39% expense ratio, which is lower than FIRVX's 0.47% expense ratio.

Dividends

FHVEX vs. FIRVX - Dividend Comparison

FHVEX's dividend yield for the trailing twelve months is around 3.36%, less than FIRVX's 102.77% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FHVEX Fidelity Advisor Freedom Blend 2050 Fund Class Z	3.36%	2.50%	2.45%	1.91%	6.24%	8.59%	4.76%	3.20%	3.67%	0.00%	0.00%	0.00%
FIRVX Fidelity Managed Retirement 2020 Fund	102.53%	2.83%	2.74%	2.57%	3.52%	4.61%	3.74%	3.18%	6.90%	25.16%	2.28%	4.45%

Frequently Asked Questions

Can I hold both FHVEX and FIRVX in my portfolio?

FHVEX and FIRVX 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.