FIHFX vs. FCNTX

Last updated Jun 5, 2026

FIHFX (Fidelity Freedom Index 2035 Fund Investor Class) and FCNTX (Fidelity Contrafund) are both mutual funds - FIHFX is a Target Retirement Date fund managed by Fidelity, while FCNTX is a Large Cap Growth Equities fund managed by Fidelity. Over the past 10 years, FIHFX returned 10.31%/yr vs 17.53%/yr for FCNTX. Their correlation of 0.89 suggests significant overlap in exposure. FIHFX charges 0.12%/yr vs 0.39%/yr for FCNTX.

Performance

FIHFX vs. FCNTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Freedom Index 2035 Fund Investor Class (FIHFX) and Fidelity Contrafund (FCNTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with FIHFX having a 8.31% return and FCNTX slightly higher at 8.62%. Over the past 10 years, FIHFX has underperformed FCNTX with an annualized return of 10.31%, while FCNTX has yielded a comparatively higher 17.53% annualized return.

FIHFX

• 1D: -0.62%
• 1M: 2.71%
• YTD: 8.31%
• 6M: 8.77%
• 1Y: 20.39%
• 3Y*: 15.24%
• 5Y*: 7.37%
• 10Y*: 10.31%

FCNTX

• 1D: 0.80%
• 1M: 4.19%
• YTD: 8.62%
• 6M: 10.40%
• 1Y: 23.87%
• 3Y*: 27.27%
• 5Y*: 15.06%
• 10Y*: 17.53%

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

FIHFX vs. FCNTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FIHFX Fidelity Freedom Index 2035 Fund Investor Class	8.31%	17.32%	11.22%	17.25%	-17.49%	13.73%	15.54%	24.87%	-6.77%	20.35%
FCNTX Fidelity Contrafund	8.62%	21.76%	36.00%	38.67%	-28.31%	24.52%	32.48%	30.00%	-3.81%	32.18%

Correlation

The correlation between FIHFX and FCNTX is 0.82, 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	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (10Y) Calculated over the trailing 10-year period	0.87
Correlation (All Time) Calculated using the full available price history since Oct 6, 2009	0.89

The correlation between FIHFX and FCNTX has been stable across timeframes, ranging from 0.82 to 0.89 - a consistent structural relationship.

FIHFX vs. FCNTX - Sectors Allocation Comparison

Sectors	FIHFX	FCNTX
Technology	25.9%	27.0%
Financial Services	17.1%	13.8%
Industrials	11.7%	8.6%
Consumer Cyclical	9.4%	10.1%
Healthcare	9.1%	9.2%
Communication Services	8.0%	21.2%
Consumer Defensive	5.2%	3.7%
Energy	4.7%	3.6%
Basic Materials	4.1%	2.1%
Utilities	2.8%	0.5%
Real Estate	2.1%	0.1%

Return for Risk

FIHFX vs. FCNTX — Risk / Return Rank

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

FIHFX

FIHFX Risk / Return Rank: 64
FIHFX Sharpe Ratio Rank: 65
FIHFX Sortino Ratio Rank: 64
FIHFX Omega Ratio Rank: 63
FIHFX Calmar Ratio Rank: 61
FIHFX Martin Ratio Rank: 68

FCNTX

FCNTX Risk / Return Rank: 37
FCNTX Sharpe Ratio Rank: 37
FCNTX Sortino Ratio Rank: 35
FCNTX Omega Ratio Rank: 35
FCNTX Calmar Ratio Rank: 34
FCNTX Martin Ratio Rank: 44

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.

FIHFX vs. FCNTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Freedom Index 2035 Fund Investor Class (FIHFX) and Fidelity Contrafund (FCNTX). 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.

	FIHFX	FCNTX	Difference
Sharpe ratio: Return per unit of total volatility	2.38	1.77	+0.60
Sortino ratio: Return per unit of downside risk	3.37	2.46	+0.91
Omega ratio: Gain probability vs. loss probability	1.44	1.32	+0.13
Calmar ratio: Return relative to maximum drawdown	3.00	2.20	+0.81
Martin ratio: Return relative to average drawdown	13.12	9.33	+3.79
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FIHFX vs. FCNTX - Sharpe Ratio Comparison

The current FIHFX Sharpe Ratio is 2.38, which is higher than the FCNTX Sharpe Ratio of 1.77. The chart below compares the historical Sharpe Ratios of FIHFX and FCNTX, 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

	FIHFX	FCNTX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.38	1.77	+0.60
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.62	0.79	-0.17
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.77	0.89	-0.12
Sharpe Ratio (All Time) Calculated using the full available price history	0.71	0.78	-0.06

Drawdowns

FIHFX vs. FCNTX - Drawdown Comparison

The maximum FIHFX drawdown since its inception was -28.42%, smaller than the maximum FCNTX drawdown of -49.19%. Use the drawdown chart below to compare losses from any high point for FIHFX and FCNTX.

Drawdown Indicators

	FIHFX	FCNTX	Difference
Max Drawdown Largest peak-to-trough decline	-28.42%	-49.19%	+20.77%
Max Drawdown (1Y) Largest decline over 1 year	-6.99%	-11.30%	+4.31%
Max Drawdown (3Y) Largest decline over 3 years	-10.98%	-19.75%	+8.77%
Max Drawdown (5Y) Largest decline over 5 years	-24.84%	-32.59%	+7.75%
Max Drawdown (10Y) Largest decline over 10 years	-28.42%	-32.59%	+4.17%
Current Drawdown Current decline from peak	-0.62%	0.00%	-0.62%
Average Drawdown Average peak-to-trough decline	-3.99%	-8.16%	+4.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.60%	2.65%	-1.05%

Volatility

FIHFX vs. FCNTX - Volatility Comparison

The current volatility for Fidelity Freedom Index 2035 Fund Investor Class (FIHFX) is 2.92%, while Fidelity Contrafund (FCNTX) has a volatility of 3.30%. This indicates that FIHFX experiences smaller price fluctuations and is considered to be less risky than FCNTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FIHFX	FCNTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.92%	3.30%	-0.38%
Volatility (6M) Calculated over the trailing 6-month period	7.16%	10.47%	-3.31%
Volatility (1Y) Calculated over the trailing 1-year period	8.83%	14.02%	-5.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.91%	19.15%	-7.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.37%	19.68%	-6.31%

FIHFX vs. FCNTX - Expense Ratio Comparison

FIHFX has a 0.12% expense ratio, which is lower than FCNTX's 0.39% expense ratio.

Dividends

FIHFX vs. FCNTX - Dividend Comparison

FIHFX's dividend yield for the trailing twelve months is around 2.57%, less than FCNTX's 4.30% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FCNTX Fidelity Contrafund	4.30%	5.21%	4.19%	3.78%	11.87%	10.80%	8.01%	4.16%	7.46%	6.08%	3.81%	5.33%
FIHFX Fidelity Freedom Index 2035 Fund Investor Class	2.57%	2.77%	2.50%	2.10%	2.14%	1.93%	2.15%	16.14%	2.21%	1.81%	1.95%	2.03%

Frequently Asked Questions

Can I hold both FIHFX and FCNTX in my portfolio?

FIHFX and FCNTX have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FIHFX or FCNTX?

FCNTX has higher volatility (3.30%) compared to FIHFX (2.92%). In terms of maximum drawdown, FIHFX dropped -28.42% vs FCNTX's -49.19%.

Which has better risk-adjusted returns?

FIHFX currently has the higher Sharpe Ratio (2.38 vs 1.77), 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.