FHYDX vs. FIWDX
FHYDX (Fidelity Freedom Blend 2040 Fund Class K) and FIWDX (Fidelity Advisor Strategic Income Fund Class Z) are both mutual funds - FHYDX is a Target Retirement Date fund managed by Fidelity, while FIWDX is a Total Bond Market fund managed by Fidelity. Over the past 5 years, FHYDX returned 9.30%/yr vs 2.66%/yr for FIWDX. Their 0.58 correlation means they have sometimes moved together and sometimes differently. FHYDX charges 0.39%/yr vs 0.61%/yr for FIWDX.
Performance
FHYDX vs. FIWDX - Performance Comparison
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Returns By Period
In the year-to-date period, FHYDX achieves a 10.48% return, which is significantly higher than FIWDX's 1.79% return.
FHYDX
- 1D
- 1.99%
- 1M
- -1.00%
- 6M
- 7.03%
- YTD
- 10.48%
- 1Y
- 21.61%
- 3Y*
- 16.98%
- 5Y*
- 9.30%
- 10Y*
- —
- ALL TIME*
- 11.15%
FIWDX
- 1D
- 0.25%
- 1M
- -1.31%
- 6M
- 1.04%
- YTD
- 1.79%
- 1Y
- 5.47%
- 3Y*
- 6.99%
- 5Y*
- 2.66%
- 10Y*
- —
- ALL TIME*
- 4.24%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
FHYDX vs. FIWDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FHYDX Fidelity Freedom Blend 2040 Fund Class K | 10.48% | 21.15% | 15.69% | 20.03% | -18.91% | 16.34% | 17.89% | 26.65% | -8.52% |
FIWDX Fidelity Advisor Strategic Income Fund Class Z | 1.79% | 8.98% | 6.07% | 9.20% | -11.76% | 3.51% | 7.60% | 11.20% | -1.63% |
Correlation
The correlation between FHYDX and FIWDX is 0.79, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.79 |
Correlation (3Y) Balances recent behavior with more history. | 0.67 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.60 |
Correlation (All Time) Calculated using the full available price history since Oct 17, 2018 | 0.58 |
Over the past year, FHYDX and FIWDX have become more correlated (0.79) than their long-term average of 0.58, meaning their price movements have been converging.
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Return for Risk
FHYDX vs. FIWDX — Risk / Return Rank
FHYDX
FIWDX
FHYDX vs. FIWDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Freedom Blend 2040 Fund Class K (FHYDX) and Fidelity Advisor Strategic Income Fund Class Z (FIWDX). 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.
| FHYDX | FIWDX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.01 | ||
| Sortino ratioReturn per unit of downside risk | -0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.30 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.34 | 2.27 | +0.07 |
| Martin ratioReturn relative to average drawdown | 9.64 | 8.55 | +1.09 |
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Drawdowns
FHYDX vs. FIWDX - Drawdown Comparison
The maximum FHYDX drawdown since its inception was -31.34%, which is greater than FIWDX's maximum drawdown of -15.96%. Use the drawdown chart below to compare losses from any high point for FHYDX and FIWDX.
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Drawdown Indicators
| FHYDX | FIWDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.34% | -15.96% | -15.38% |
Max Drawdown (1Y)Largest decline over 1 year | -8.64% | -2.61% | -6.03% |
Max Drawdown (3Y)Largest decline over 3 years | -14.26% | -3.63% | -10.63% |
Max Drawdown (5Y)Largest decline over 5 years | -27.67% | -15.96% | -11.71% |
Current DrawdownCurrent decline from peak | -2.10% | -1.79% | -0.31% |
Average DrawdownAverage peak-to-trough decline | -5.78% | -3.15% | -2.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.09% | 0.69% | +1.40% |
Volatility
FHYDX vs. FIWDX - Volatility Comparison
Fidelity Freedom Blend 2040 Fund Class K (FHYDX) has a higher volatility of 3.89% compared to Fidelity Advisor Strategic Income Fund Class Z (FIWDX) at 0.99%. This indicates that FHYDX's price experiences larger fluctuations and is considered to be riskier than FIWDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FHYDX | FIWDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.89% | 0.99% | +2.90% |
Volatility (6M)Calculated over the trailing 6-month period | 10.86% | 3.29% | +7.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.76% | 3.78% | +8.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.62% | 4.59% | +10.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.53% | 4.87% | +11.66% |
FHYDX vs. FIWDX - Expense Ratio Comparison
FHYDX has a 0.39% expense ratio, which is lower than FIWDX's 0.61% expense ratio.
Dividends
FHYDX vs. FIWDX - Dividend Comparison
FHYDX's dividend yield for the trailing twelve months is around 3.85%, less than FIWDX's 4.09% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
FHYDX Fidelity Freedom Blend 2040 Fund Class K | 3.85% | 2.82% | 4.98% | 1.84% | 6.24% | 8.59% | 4.92% | 3.51% | 3.23% |
FIWDX Fidelity Advisor Strategic Income Fund Class Z | 4.09% | 4.39% | 4.21% | 4.02% | 2.99% | 4.28% | 4.62% | 4.39% | 1.13% |
Frequently Asked Questions
FHYDX and FIWDX have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FHYDX has higher volatility (3.89%) compared to FIWDX (0.99%). In terms of maximum drawdown, FHYDX dropped -31.34% vs FIWDX's -15.96%.
FHYDX currently has the higher Sharpe Ratio (1.58 vs 1.57), 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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