PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
FIOFX vs. FFFFX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

FIOFX vs. FFFFX

Last updated Jun 4, 2026

FIOFX (Fidelity Freedom Index 2045 Fund Investor Class) and FFFFX (Fidelity Freedom 2040 Fund) are both Target Retirement Date funds from Fidelity. Over the past 10 years, FIOFX returned 11.87%/yr vs 11.98%/yr for FFFFX. With a 0.99 correlation, they move nearly in lockstep. FIOFX charges 0.12%/yr vs 0.75%/yr for FFFFX.

Performance

FIOFX vs. FFFFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Freedom Index 2045 Fund Investor Class (FIOFX) and Fidelity Freedom 2040 Fund (FFFFX). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

The year-to-date returns for both stocks are quite close, with FIOFX having a 12.20% return and FFFFX slightly lower at 12.13%. Both investments have delivered pretty close results over the past 10 years, with FIOFX having a 11.87% annualized return and FFFFX not far ahead at 11.98%.

FIOFX

1D
0.41%
1M
5.43%
YTD
12.20%
6M
13.11%
1Y
28.24%
3Y*
19.40%
5Y*
10.03%
10Y*
11.87%

FFFFX

1D
0.56%
1M
4.48%
YTD
12.13%
6M
13.76%
1Y
28.02%
3Y*
19.14%
5Y*
9.53%
10Y*
11.98%
*Multi-year figures are annualized to reflect compound growth (CAGR)

FIOFX vs. FFFFX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
FIOFX
Fidelity Freedom Index 2045 Fund Investor Class		12.20%21.40%14.14%19.90%-18.21%15.95%16.43%25.96%-7.24%20.59%
FFFFX
Fidelity Freedom 2040 Fund		12.13%22.01%13.20%20.06%-18.31%16.57%18.24%25.38%-8.94%22.26%

Correlation

The correlation between FIOFX and FFFFX 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

0.99

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

FIOFX vs. FFFFX - Sectors Allocation Comparison

Sectors
FIOFX
FFFFX

Technology

25.9%
23.3%

Financial Services

17.1%
17.0%

Industrials

11.7%
15.4%

Consumer Cyclical

9.4%
9.1%

Healthcare

9.1%
8.8%

Communication Services

8.0%
7.9%

Consumer Defensive

5.2%
4.5%

Energy

4.7%
5.6%

Basic Materials

4.1%
5.6%

Utilities

2.8%
1.8%

Real Estate

2.1%
1.1%

Technology

FIOFX
25.9%
FFFFX
23.3%

Financial Services

FIOFX
17.1%
FFFFX
17.0%

Industrials

FIOFX
11.7%
FFFFX
15.4%

Consumer Cyclical

FIOFX
9.4%
FFFFX
9.1%

Healthcare

FIOFX
9.1%
FFFFX
8.8%

Communication Services

FIOFX
8.0%
FFFFX
7.9%

Consumer Defensive

FIOFX
5.2%
FFFFX
4.5%

Energy

FIOFX
4.7%
FFFFX
5.6%

Basic Materials

FIOFX
4.1%
FFFFX
5.6%

Utilities

FIOFX
2.8%
FFFFX
1.8%

Real Estate

FIOFX
2.1%
FFFFX
1.1%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Fidelity Freedom Index 2045 Fund Investor Class

Fidelity Freedom 2040 Fund

Often compared with FIOFX:
FIOFX vs. VTIVXFIOFX vs. FXAIXFIOFX vs. FFOLXFIOFX vs. FIAFXFIOFX vs. FSKAXFIOFX vs. FSPGXFIOFX vs. FFFGX
Often compared with FFFFX:
FFFFX vs. FBIFXFFFFX vs. FXAIXFFFFX vs. VOOFFFFX vs. vtivxFFFFX vs. IVVFFFFX vs. OIEJXFFFFX vs. FELIX

Return for Risk

FIOFX vs. FFFFX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FIOFX
FIOFX Risk / Return Rank: 7171
Overall Rank
FIOFX Sharpe Ratio Rank: 7474
Sharpe Ratio Rank
FIOFX Sortino Ratio Rank: 6868
Sortino Ratio Rank
FIOFX Omega Ratio Rank: 6767
Omega Ratio Rank
FIOFX Calmar Ratio Rank: 7070
Calmar Ratio Rank
FIOFX Martin Ratio Rank: 7575
Martin Ratio Rank
FFFFX
FFFFX Risk / Return Rank: 7272
Overall Rank
FFFFX Sharpe Ratio Rank: 7474
Sharpe Ratio Rank
FFFFX Sortino Ratio Rank: 6969
Sortino Ratio Rank
FFFFX Omega Ratio Rank: 7070
Omega Ratio Rank
FFFFX Calmar Ratio Rank: 7171
Calmar Ratio Rank
FFFFX Martin Ratio Rank: 7676
Martin Ratio Rank
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.

FIOFX vs. FFFFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Freedom Index 2045 Fund Investor Class (FIOFX) and Fidelity Freedom 2040 Fund (FFFFX). 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.

FIOFXFFFFXDifference
Sharpe ratioReturn per unit of total volatility
2.49
2.50

-0.01

Sortino ratioReturn per unit of downside risk
3.44
3.46

-0.02

Omega ratioGain probability vs. loss probability

1.46

1.47

-0.01

Calmar ratioReturn relative to maximum drawdown

3.22

3.27

-0.04

Martin ratioReturn relative to average drawdown

14.23

14.39

-0.16

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FIOFX vs. FFFFX - Sharpe Ratio Comparison

The current FIOFX Sharpe Ratio is 2.49, which is comparable to the FFFFX Sharpe Ratio of 2.50. The chart below compares the historical Sharpe Ratios of FIOFX and FFFFX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Sharpe Ratios by Period

FIOFXFFFFXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.49

2.50

-0.01

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.70

0.67

+0.04

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.79

0.80

-0.01

Sharpe Ratio (All Time)

Calculated using the full available price history

0.72

0.38

+0.34

Drawdowns

FIOFX vs. FFFFX - Drawdown Comparison

The maximum FIOFX drawdown since its inception was -30.72%, smaller than the maximum FFFFX drawdown of -54.10%. Use the drawdown chart below to compare losses from any high point for FIOFX and FFFFX.

Loading charts...

Drawdown Indicators

FIOFXFFFFXDifference

Max Drawdown

Largest peak-to-trough decline

-30.72%

-54.10%

+23.38%

Max Drawdown (1Y)

Largest decline over 1 year

-8.87%

-8.71%

-0.16%

Max Drawdown (3Y)

Largest decline over 3 years

-14.75%

-14.08%

-0.67%

Max Drawdown (5Y)

Largest decline over 5 years

-26.22%

-27.21%

+0.99%

Max Drawdown (10Y)

Largest decline over 10 years

-30.72%

-30.93%

+0.21%

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-4.15%

-11.14%

+6.99%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.01%

1.97%

+0.04%

Volatility

FIOFX vs. FFFFX - Volatility Comparison

The current volatility for Fidelity Freedom Index 2045 Fund Investor Class (FIOFX) is 3.48%, while Fidelity Freedom 2040 Fund (FFFFX) has a volatility of 3.76%. This indicates that FIOFX experiences smaller price fluctuations and is considered to be less risky than FFFFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

FIOFXFFFFXDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.48%

3.76%

-0.28%

Volatility (6M)

Calculated over the trailing 6-month period

9.21%

9.36%

-0.15%

Volatility (1Y)

Calculated over the trailing 1-year period

11.48%

11.39%

+0.09%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.36%

14.37%

-0.01%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.15%

15.07%

+0.08%

FIOFX vs. FFFFX - Expense Ratio Comparison

FIOFX has a 0.12% expense ratio, which is lower than FFFFX's 0.75% expense ratio.

Dividends

FIOFX vs. FFFFX - Dividend Comparison

FIOFX's dividend yield for the trailing twelve months is around 1.90%, less than FFFFX's 6.35% yield.

PositionTTM20252024202320222021202020192018201720162015
FFFFX
Fidelity Freedom 2040 Fund		6.35%5.07%2.63%1.72%12.33%12.09%5.67%6.69%7.97%4.37%4.05%4.81%
FIOFX
Fidelity Freedom Index 2045 Fund Investor Class		1.90%2.03%2.01%1.95%2.03%1.92%1.95%14.88%2.26%1.89%2.00%2.01%

Frequently Asked Questions

With a correlation of 0.99, FIOFX and FFFFX 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.

FFFFX has higher volatility (3.76%) compared to FIOFX (3.48%). In terms of maximum drawdown, FIOFX dropped -30.72% vs FFFFX's -54.10%.

FFFFX 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.

Portfolio Optimizer

Find the right allocation for FIOFX and FFFFX

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer