FIOFX vs. FFFGX
FIOFX (Fidelity Freedom Index 2045 Fund Investor Class) and FFFGX (Fidelity Freedom 2045 Fund) are both Target Retirement Date funds from Fidelity. Over the past 10 years, FIOFX returned 11.89%/yr vs 12.60%/yr for FFFGX. With a 0.99 correlation, they move nearly in lockstep. FIOFX charges 0.12%/yr vs 0.75%/yr for FFFGX.
Performance
FIOFX vs. FFFGX - Performance Comparison
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Returns By Period
In the year-to-date period, FIOFX achieves a 11.68% return, which is significantly lower than FFFGX's 14.50% return. Over the past 10 years, FIOFX has underperformed FFFGX with an annualized return of 11.89%, while FFFGX has yielded a comparatively higher 12.60% annualized return.
FIOFX
- 1D
- 1.18%
- 1M
- 1.90%
- YTD
- 11.68%
- 6M
- 11.58%
- 1Y
- 27.60%
- 3Y*
- 18.09%
- 5Y*
- 10.07%
- 10Y*
- 11.89%
FFFGX
- 1D
- 1.44%
- 1M
- 3.23%
- YTD
- 14.50%
- 6M
- 14.51%
- 1Y
- 31.90%
- 3Y*
- 19.88%
- 5Y*
- 10.85%
- 10Y*
- 12.60%
FIOFX vs. FFFGX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FIOFX Fidelity Freedom Index 2045 Fund Investor Class | 11.68% | 21.40% | 14.14% | 19.90% | -18.21% | 15.95% | 16.43% | 25.96% | -7.24% | 20.59% |
FFFGX Fidelity Freedom 2045 Fund | 14.50% | 23.77% | 13.95% | 20.56% | -18.29% | 16.55% | 18.22% | 25.41% | -8.89% | 22.22% |
Correlation
The correlation between FIOFX and FFFGX 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 5, 2009 | 0.99 |
The correlation between FIOFX and FFFGX has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.
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Return for Risk
FIOFX vs. FFFGX — Risk / Return Rank
FIOFX
FFFGX
FIOFX vs. FFFGX - 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 2045 Fund (FFFGX). 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.
| FIOFX | FFFGX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.13 | ||
| Sortino ratioReturn per unit of downside risk | -0.17 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.44 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 3.07 | 3.30 | -0.23 |
| Martin ratioReturn relative to average drawdown | 13.21 | 14.36 | -1.15 |
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Drawdowns
FIOFX vs. FFFGX - Drawdown Comparison
The maximum FIOFX drawdown since its inception was -30.72%, smaller than the maximum FFFGX drawdown of -54.61%. Use the drawdown chart below to compare losses from any high point for FIOFX and FFFGX.
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Drawdown Indicators
| FIOFX | FFFGX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.72% | -54.61% | +23.89% |
Max Drawdown (1Y)Largest decline over 1 year | -8.87% | -9.57% | +0.70% |
Max Drawdown (3Y)Largest decline over 3 years | -14.75% | -15.42% | +0.67% |
Max Drawdown (5Y)Largest decline over 5 years | -26.22% | -27.33% | +1.11% |
Max Drawdown (10Y)Largest decline over 10 years | -30.72% | -30.95% | +0.23% |
Current DrawdownCurrent decline from peak | -0.46% | 0.00% | -0.46% |
Average DrawdownAverage peak-to-trough decline | -4.14% | -8.34% | +4.20% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.06% | 2.20% | -0.14% |
Volatility
FIOFX vs. FFFGX - Volatility Comparison
The current volatility for Fidelity Freedom Index 2045 Fund Investor Class (FIOFX) is 5.00%, while Fidelity Freedom 2045 Fund (FFFGX) has a volatility of 5.61%. This indicates that FIOFX experiences smaller price fluctuations and is considered to be less risky than FFFGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FIOFX | FFFGX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.00% | 5.61% | -0.61% |
Volatility (6M)Calculated over the trailing 6-month period | 10.19% | 11.36% | -1.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.22% | 13.41% | -1.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.49% | 15.13% | -0.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.20% | 15.42% | -0.22% |
FIOFX vs. FFFGX - Expense Ratio Comparison
FIOFX has a 0.12% expense ratio, which is lower than FFFGX's 0.75% expense ratio.
Dividends
FIOFX vs. FFFGX - Dividend Comparison
FIOFX's dividend yield for the trailing twelve months is around 1.91%, less than FFFGX's 5.74% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FFFGX Fidelity Freedom 2045 Fund | 5.74% | 4.40% | 1.97% | 1.84% | 12.04% | 12.00% | 4.99% | 6.51% | 7.82% | 4.01% | 4.15% | 4.07% |
FIOFX Fidelity Freedom Index 2045 Fund Investor Class | 1.91% | 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 FFFGX 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.
FFFGX has higher volatility (5.61%) compared to FIOFX (5.00%). In terms of maximum drawdown, FIOFX dropped -30.72% vs FFFGX's -54.61%.
FFFGX currently has the higher Sharpe Ratio (2.36 vs 2.23), 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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