FIHFX vs. FIPFX

Last updated Jun 3, 2026

FIHFX (Fidelity Freedom Index 2035 Fund Investor Class) and FIPFX (Fidelity Freedom Index 2050 Fund Investor Class) are both Target Retirement Date funds from Fidelity. Over the past 10 years, FIHFX returned 10.34%/yr vs 11.85%/yr for FIPFX. With a 1.00 correlation, they move nearly in lockstep. Both charge a 0.12% expense ratio.

Performance

FIHFX vs. FIPFX - 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 Freedom Index 2050 Fund Investor Class (FIPFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FIHFX achieves a 8.65% return, which is significantly lower than FIPFX's 11.96% return. Over the past 10 years, FIHFX has underperformed FIPFX with an annualized return of 10.34%, while FIPFX has yielded a comparatively higher 11.85% annualized return.

FIHFX

• 1D: 0.21%
• 1M: 3.33%
• YTD: 8.65%
• 6M: 9.55%
• 1Y: 21.41%
• 3Y*: 15.36%
• 5Y*: 7.50%
• 10Y*: 10.34%

FIPFX

• 1D: 0.38%
• 1M: 4.65%
• YTD: 11.96%
• 6M: 13.27%
• 1Y: 28.21%
• 3Y*: 19.31%
• 5Y*: 9.88%
• 10Y*: 11.85%

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

FIHFX vs. FIPFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FIHFX Fidelity Freedom Index 2035 Fund Investor Class	8.65%	17.32%	11.22%	17.25%	-17.49%	13.73%	15.54%	24.87%	-6.77%	20.35%
FIPFX Fidelity Freedom Index 2050 Fund Investor Class	11.96%	21.40%	14.15%	19.91%	-18.22%	15.93%	16.46%	26.02%	-7.28%	20.54%

Correlation

The correlation between FIHFX and FIPFX is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.99
Correlation (3Y) Calculated over the trailing 3-year period	0.99
Correlation (5Y) Calculated over the trailing 5-year period	0.99
Correlation (10Y) Calculated over the trailing 10-year period	0.99
Correlation (All Time) Calculated using the full available price history since Oct 6, 2009	1.00

The correlation between FIHFX and FIPFX has been stable across timeframes, ranging from 0.99 to 1.00 - a consistent structural relationship.

FIHFX vs. FIPFX - Sectors Allocation Comparison

Sectors	FIHFX	FIPFX
Technology	25.9%	25.9%
Financial Services	17.1%	17.1%
Industrials	11.7%	11.7%
Consumer Cyclical	9.4%	9.4%
Healthcare	9.1%	9.1%
Communication Services	8.0%	8.0%
Consumer Defensive	5.2%	5.2%
Energy	4.7%	4.7%
Basic Materials	4.1%	4.1%
Utilities	2.8%	2.8%
Real Estate	2.1%	2.1%

Return for Risk

FIHFX vs. FIPFX — Risk / Return Rank

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

FIHFX

FIHFX Risk / Return Rank: 70
FIHFX Sharpe Ratio Rank: 73
FIHFX Sortino Ratio Rank: 72
FIHFX Omega Ratio Rank: 70
FIHFX Calmar Ratio Rank: 65
FIHFX Martin Ratio Rank: 71

FIPFX

FIPFX Risk / Return Rank: 71
FIPFX Sharpe Ratio Rank: 74
FIPFX Sortino Ratio Rank: 69
FIPFX Omega Ratio Rank: 68
FIPFX Calmar Ratio Rank: 69
FIPFX Martin Ratio Rank: 75

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. FIPFX - 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 Freedom Index 2050 Fund Investor Class (FIPFX). 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	FIPFX	Difference
Sharpe ratio Return per unit of total volatility	2.49	2.50	-0.02
Sortino ratio Return per unit of downside risk	3.52	3.46	+0.06
Omega ratio Gain probability vs. loss probability	1.47	1.46	+0.01
Calmar ratio Return relative to maximum drawdown	3.12	3.21	-0.09
Martin ratio Return relative to average drawdown	13.67	14.20	-0.52
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. FIPFX - Sharpe Ratio Comparison

The current FIHFX Sharpe Ratio is 2.49, which is comparable to the FIPFX Sharpe Ratio of 2.50. The chart below compares the historical Sharpe Ratios of FIHFX and FIPFX, 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	FIPFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.49	2.50	-0.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.63	0.69	-0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.78	0.78	-0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.72	0.72	0.00

Drawdowns

FIHFX vs. FIPFX - Drawdown Comparison

The maximum FIHFX drawdown since its inception was -28.42%, smaller than the maximum FIPFX drawdown of -30.71%. Use the drawdown chart below to compare losses from any high point for FIHFX and FIPFX.

Drawdown Indicators

	FIHFX	FIPFX	Difference
Max Drawdown Largest peak-to-trough decline	-28.42%	-30.71%	+2.29%
Max Drawdown (1Y) Largest decline over 1 year	-6.99%	-8.96%	+1.97%
Max Drawdown (3Y) Largest decline over 3 years	-10.98%	-14.71%	+3.73%
Max Drawdown (5Y) Largest decline over 5 years	-24.84%	-26.20%	+1.36%
Max Drawdown (10Y) Largest decline over 10 years	-28.42%	-30.71%	+2.29%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-3.99%	-4.21%	+0.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.60%	2.03%	-0.43%

Volatility

FIHFX vs. FIPFX - Volatility Comparison

The current volatility for Fidelity Freedom Index 2035 Fund Investor Class (FIHFX) is 2.86%, while Fidelity Freedom Index 2050 Fund Investor Class (FIPFX) has a volatility of 3.49%. This indicates that FIHFX experiences smaller price fluctuations and is considered to be less risky than FIPFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FIHFX	FIPFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.86%	3.49%	-0.63%
Volatility (6M) Calculated over the trailing 6-month period	7.15%	9.31%	-2.16%
Volatility (1Y) Calculated over the trailing 1-year period	8.82%	11.58%	-2.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.91%	14.39%	-2.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.37%	15.17%	-1.80%

FIHFX vs. FIPFX - Expense Ratio Comparison

Both FIHFX and FIPFX have an expense ratio of 0.12%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

FIHFX vs. FIPFX - Dividend Comparison

FIHFX's dividend yield for the trailing twelve months is around 2.56%, more than FIPFX's 1.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIHFX Fidelity Freedom Index 2035 Fund Investor Class	2.56%	2.77%	2.50%	2.10%	2.14%	1.93%	2.15%	16.14%	2.21%	1.81%	1.95%	2.03%
FIPFX Fidelity Freedom Index 2050 Fund Investor Class	1.76%	1.97%	2.00%	1.94%	2.02%	1.93%	1.95%	15.16%	2.28%	2.05%	2.09%	2.00%

Frequently Asked Questions

Can I hold both FIHFX and FIPFX in my portfolio?

With a correlation of 0.99, FIHFX and FIPFX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, FIHFX or FIPFX?

FIPFX has higher volatility (3.49%) compared to FIHFX (2.86%). In terms of maximum drawdown, FIHFX dropped -28.42% vs FIPFX's -30.71%.

Which has better risk-adjusted returns?

FIPFX currently has the higher Sharpe Ratio (2.50 vs 2.49), 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.