FIOFX vs. SPHY
Compare and contrast key facts about Fidelity Freedom Index 2045 Fund Investor Class (FIOFX) and SPDR Portfolio High Yield Bond ETF (SPHY).
FIOFX is managed by Fidelity. It was launched on Oct 2, 2009. SPHY is a passively managed fund by State Street that tracks the performance of the ICE BofAML US High Yield Index. It was launched on Jun 18, 2012.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: FIOFX or SPHY.
Key characteristics
| FIOFX | SPHY | |
|---|---|---|
| YTD Return | 15.20% | 8.24% |
| 1Y Return | 24.68% | 14.84% |
| 3Y Return (Ann) | 5.80% | 3.24% |
| 5Y Return (Ann) | 10.33% | 4.82% |
| 10Y Return (Ann) | 8.84% | 4.55% |
| Sharpe Ratio | 2.12 | 2.84 |
| Daily Std Dev | 11.33% | 5.17% |
| Max Drawdown | -30.72% | -21.97% |
| Current Drawdown | 0.00% | 0.00% |
Correlation
The correlation between FIOFX and SPHY is 0.46, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
FIOFX vs. SPHY - Performance Comparison
In the year-to-date period, FIOFX achieves a 15.20% return, which is significantly higher than SPHY's 8.24% return. Over the past 10 years, FIOFX has outperformed SPHY with an annualized return of 8.84%, while SPHY has yielded a comparatively lower 4.55% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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FIOFX vs. SPHY - Expense Ratio Comparison
FIOFX has a 0.12% expense ratio, which is higher than SPHY's 0.10% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Risk-Adjusted Performance
FIOFX vs. SPHY - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Freedom Index 2045 Fund Investor Class (FIOFX) and SPDR Portfolio High Yield Bond ETF (SPHY). 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.
Dividends
FIOFX vs. SPHY - Dividend Comparison
FIOFX's dividend yield for the trailing twelve months is around 1.71%, less than SPHY's 7.68% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FIOFX Fidelity Freedom Index 2045 Fund Investor Class | 1.71% | 1.95% | 2.03% | 1.92% | 1.95% | 14.88% | 2.30% | 1.89% | 2.00% | 2.01% | 3.33% | 0.11% |
SPHY SPDR Portfolio High Yield Bond ETF | 7.68% | 7.30% | 6.47% | 5.14% | 5.63% | 5.73% | 4.09% | 4.41% | 4.27% | 4.29% | 3.98% | 4.41% |
Drawdowns
FIOFX vs. SPHY - Drawdown Comparison
The maximum FIOFX drawdown since its inception was -30.72%, which is greater than SPHY's maximum drawdown of -21.97%. Use the drawdown chart below to compare losses from any high point for FIOFX and SPHY. For additional features, visit the drawdowns tool.
Volatility
FIOFX vs. SPHY - Volatility Comparison
Fidelity Freedom Index 2045 Fund Investor Class (FIOFX) has a higher volatility of 3.79% compared to SPDR Portfolio High Yield Bond ETF (SPHY) at 1.00%. This indicates that FIOFX's price experiences larger fluctuations and is considered to be riskier than SPHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.