FIKFX vs. AMLP

Last updated Jun 4, 2026

FIKFX (Fidelity Freedom Index Income Fund Investor Class) and AMLP (Alerian MLP ETF) are both funds - FIKFX is a Target Retirement Date fund managed by Fidelity, while AMLP is a MLPs fund tracking the Alerian MLP Infrastructure Index. Over the past 10 years, FIKFX returned 4.24%/yr vs 6.76%/yr for AMLP. At a 0.35 correlation, their price movements are largely independent. FIKFX charges 0.12%/yr vs 0.90%/yr for AMLP.

Performance

FIKFX vs. AMLP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Freedom Index Income Fund Investor Class (FIKFX) and Alerian MLP ETF (AMLP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FIKFX achieves a 4.19% return, which is significantly lower than AMLP's 16.31% return. Over the past 10 years, FIKFX has underperformed AMLP with an annualized return of 4.24%, while AMLP has yielded a comparatively higher 6.76% annualized return.

FIKFX

• 1D: 0.08%
• 1M: 1.67%
• YTD: 4.19%
• 6M: 4.33%
• 1Y: 10.42%
• 3Y*: 7.66%
• 5Y*: 3.25%
• 10Y*: 4.24%

AMLP

• 1D: -0.27%
• 1M: -0.57%
• YTD: 16.31%
• 6M: 14.89%
• 1Y: 17.06%
• 3Y*: 20.15%
• 5Y*: 16.90%
• 10Y*: 6.76%

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

FIKFX vs. AMLP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FIKFX Fidelity Freedom Index Income Fund Investor Class	4.19%	9.23%	4.96%	8.28%	-11.09%	2.79%	8.54%	10.59%	-0.76%	6.66%
AMLP Alerian MLP ETF	16.31%	5.78%	22.76%	21.40%	25.47%	39.09%	-32.26%	5.99%	-12.67%	-7.89%

Correlation

The correlation between FIKFX and AMLP is -0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.07
Correlation (3Y) Calculated over the trailing 3-year period	0.19
Correlation (5Y) Calculated over the trailing 5-year period	0.25
Correlation (10Y) Calculated over the trailing 10-year period	0.30
Correlation (All Time) Calculated using the full available price history since Aug 26, 2010	0.35

The correlation between FIKFX and AMLP shifts across timeframes, from -0.07 (1 year) to 0.35 (all time), reflecting how their relationship changes across market environments.

FIKFX vs. AMLP - Sectors Allocation Comparison

Sectors	FIKFX	AMLP
Technology	25.8%	-
Financial Services	17.2%	-
Industrials	11.7%	-
Consumer Cyclical	9.4%	-
Healthcare	9.1%	-
Communication Services	8.0%	-
Consumer Defensive	5.2%	-
Energy	4.7%	97.7%
Basic Materials	4.1%	-
Utilities	2.8%	2.3%
Real Estate	2.1%	-

Return for Risk

FIKFX vs. AMLP — Risk / Return Rank

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

FIKFX

FIKFX Risk / Return Rank: 77
FIKFX Sharpe Ratio Rank: 81
FIKFX Sortino Ratio Rank: 83
FIKFX Omega Ratio Rank: 81
FIKFX Calmar Ratio Rank: 67
FIKFX Martin Ratio Rank: 74

AMLP

AMLP Risk / Return Rank: 39
AMLP Sharpe Ratio Rank: 40
AMLP Sortino Ratio Rank: 39
AMLP Omega Ratio Rank: 37
AMLP Calmar Ratio Rank: 38
AMLP Martin Ratio Rank: 39

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.

FIKFX vs. AMLP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Freedom Index Income Fund Investor Class (FIKFX) and Alerian MLP ETF (AMLP). 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.

	FIKFX	AMLP	Difference
Sharpe ratio: Return per unit of total volatility	2.63	1.45	+1.18
Sortino ratio: Return per unit of downside risk	3.92	2.03	+1.89
Omega ratio: Gain probability vs. loss probability	1.54	1.25	+0.28
Calmar ratio: Return relative to maximum drawdown	3.15	1.92	+1.23
Martin ratio: Return relative to average drawdown	14.03	6.37	+7.66
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FIKFX vs. AMLP - Sharpe Ratio Comparison

The current FIKFX Sharpe Ratio is 2.63, which is higher than the AMLP Sharpe Ratio of 1.45. The chart below compares the historical Sharpe Ratios of FIKFX and AMLP, 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

	FIKFX	AMLP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.63	1.45	+1.18
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.64	0.85	-0.21
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.96	0.24	+0.71
Sharpe Ratio (All Time) Calculated using the full available price history	1.01	0.22	+0.79

Drawdowns

FIKFX vs. AMLP - Drawdown Comparison

The maximum FIKFX drawdown since its inception was -15.03%, smaller than the maximum AMLP drawdown of -77.19%. Use the drawdown chart below to compare losses from any high point for FIKFX and AMLP.

Drawdown Indicators

	FIKFX	AMLP	Difference
Max Drawdown Largest peak-to-trough decline	-15.03%	-77.19%	+62.16%
Max Drawdown (1Y) Largest decline over 1 year	-3.32%	-8.94%	+5.62%
Max Drawdown (3Y) Largest decline over 3 years	-4.76%	-14.27%	+9.51%
Max Drawdown (5Y) Largest decline over 5 years	-15.03%	-20.92%	+5.89%
Max Drawdown (10Y) Largest decline over 10 years	-15.03%	-72.62%	+57.59%
Current Drawdown Current decline from peak	0.00%	-4.10%	+4.10%
Average Drawdown Average peak-to-trough decline	-1.72%	-17.40%	+15.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.74%	2.68%	-1.94%

Volatility

FIKFX vs. AMLP - Volatility Comparison

The current volatility for Fidelity Freedom Index Income Fund Investor Class (FIKFX) is 1.49%, while Alerian MLP ETF (AMLP) has a volatility of 4.91%. This indicates that FIKFX experiences smaller price fluctuations and is considered to be less risky than AMLP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FIKFX	AMLP	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.49%	4.91%	-3.42%
Volatility (6M) Calculated over the trailing 6-month period	3.31%	8.66%	-5.35%
Volatility (1Y) Calculated over the trailing 1-year period	3.98%	11.90%	-7.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.12%	19.98%	-14.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.44%	27.68%	-23.24%

FIKFX vs. AMLP - Expense Ratio Comparison

FIKFX has a 0.12% expense ratio, which is lower than AMLP's 0.90% expense ratio.

Dividends

FIKFX vs. AMLP - Dividend Comparison

FIKFX's dividend yield for the trailing twelve months is around 3.19%, less than AMLP's 7.64% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AMLP Alerian MLP ETF	7.64%	8.36%	7.70%	7.86%	7.70%	8.55%	12.31%	9.12%	9.29%	7.97%	8.09%	9.84%
FIKFX Fidelity Freedom Index Income Fund Investor Class	3.19%	3.40%	3.13%	2.85%	3.06%	2.04%	2.18%	7.27%	2.94%	1.89%	1.65%	1.39%

Frequently Asked Questions

Can I hold both FIKFX and AMLP in my portfolio?

FIKFX and AMLP have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FIKFX or AMLP?

AMLP has higher volatility (4.91%) compared to FIKFX (1.49%). In terms of maximum drawdown, FIKFX dropped -15.03% vs AMLP's -77.19%.

Which has better risk-adjusted returns?

FIKFX currently has the higher Sharpe Ratio (2.63 vs 1.45), 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.