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.
Performance
FIOFX vs. SPHY - Performance Comparison
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FIOFX vs. SPHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FIOFX Fidelity Freedom Index 2045 Fund Investor Class | -4.08% | 21.40% | 14.14% | 19.90% | -18.21% | 15.95% | 16.43% | 25.96% | -7.24% | 20.59% |
SPHY SPDR Portfolio High Yield Bond ETF | -0.32% | 8.59% | 8.54% | 12.81% | -10.57% | 5.61% | 6.65% | 13.16% | -3.35% | 7.35% |
Returns By Period
In the year-to-date period, FIOFX achieves a -4.08% return, which is significantly lower than SPHY's -0.32% return. Over the past 10 years, FIOFX has outperformed SPHY with an annualized return of 10.39%, while SPHY has yielded a comparatively lower 5.29% annualized return.
FIOFX
- 1D
- -0.17%
- 1M
- -8.42%
- YTD
- -4.08%
- 6M
- -1.19%
- 1Y
- 16.67%
- 3Y*
- 14.21%
- 5Y*
- 7.75%
- 10Y*
- 10.39%
SPHY
- 1D
- 1.00%
- 1M
- -1.02%
- YTD
- -0.32%
- 6M
- 0.94%
- 1Y
- 7.11%
- 3Y*
- 8.40%
- 5Y*
- 4.31%
- 10Y*
- 5.29%
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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%.
Return for Risk
FIOFX vs. SPHY — Risk / Return Rank
FIOFX
SPHY
FIOFX vs. SPHY - Risk-Adjusted Trends 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.
| FIOFX | SPHY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.10 | 1.30 | -0.20 |
Sortino ratioReturn per unit of downside risk | 1.61 | 1.92 | -0.31 |
Omega ratioGain probability vs. loss probability | 1.24 | 1.31 | -0.07 |
Calmar ratioReturn relative to maximum drawdown | 1.38 | 1.76 | -0.38 |
Martin ratioReturn relative to average drawdown | 6.46 | 9.23 | -2.77 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FIOFX | SPHY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.10 | 1.30 | -0.20 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.55 | 0.61 | -0.06 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.69 | 0.67 | +0.03 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.66 | 0.62 | +0.04 |
Correlation
The correlation between FIOFX and SPHY is 0.49, 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.
Dividends
FIOFX vs. SPHY - Dividend Comparison
FIOFX's dividend yield for the trailing twelve months is around 2.12%, less than SPHY's 7.39% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FIOFX Fidelity Freedom Index 2045 Fund Investor Class | 2.12% | 2.03% | 2.01% | 1.95% | 2.03% | 1.92% | 1.95% | 14.88% | 2.26% | 1.89% | 2.00% | 2.01% |
SPHY SPDR Portfolio High Yield Bond ETF | 7.39% | 7.38% | 7.80% | 7.30% | 6.47% | 5.13% | 5.63% | 5.73% | 4.09% | 4.41% | 4.27% | 4.29% |
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.
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Drawdown Indicators
| FIOFX | SPHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.72% | -21.97% | -8.75% |
Max Drawdown (1Y)Largest decline over 1 year | -10.83% | -4.07% | -6.76% |
Max Drawdown (5Y)Largest decline over 5 years | -26.22% | -15.29% | -10.93% |
Max Drawdown (10Y)Largest decline over 10 years | -30.72% | -21.97% | -8.75% |
Current DrawdownCurrent decline from peak | -8.87% | -1.31% | -7.56% |
Average DrawdownAverage peak-to-trough decline | -4.18% | -2.32% | -1.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.32% | 0.78% | +1.54% |
Volatility
FIOFX vs. SPHY - Volatility Comparison
Fidelity Freedom Index 2045 Fund Investor Class (FIOFX) has a higher volatility of 4.89% compared to SPDR Portfolio High Yield Bond ETF (SPHY) at 2.23%. 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.
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Volatility by Period
| FIOFX | SPHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.89% | 2.23% | +2.66% |
Volatility (6M)Calculated over the trailing 6-month period | 8.63% | 2.87% | +5.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.15% | 5.49% | +9.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.25% | 7.15% | +7.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.08% | 7.97% | +7.11% |