FIRQX vs. FFGZX
FIRQX (Fidelity Managed Retirement 2010 Fund) and FFGZX (Fidelity Freedom Index Income Fund Institutional Premium Class) are both Target Retirement Date funds. Over the past 10 years, FIRQX returned 5.03%/yr vs 4.26%/yr for FFGZX. Their correlation of 0.92 suggests significant overlap in exposure. FIRQX charges 0.46%/yr vs 0.08%/yr for FFGZX.
Performance
FIRQX vs. FFGZX - Performance Comparison
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Returns By Period
In the year-to-date period, FIRQX achieves a 3.60% return, which is significantly lower than FFGZX's 3.98% return. Over the past 10 years, FIRQX has outperformed FFGZX with an annualized return of 5.03%, while FFGZX has yielded a comparatively lower 4.26% annualized return.
FIRQX
- 1D
- 0.00%
- 1M
- 0.65%
- YTD
- 3.60%
- 6M
- 3.73%
- 1Y
- 9.40%
- 3Y*
- 7.27%
- 5Y*
- 2.79%
- 10Y*
- 5.03%
FFGZX
- 1D
- 0.47%
- 1M
- 0.81%
- YTD
- 3.98%
- 6M
- 4.04%
- 1Y
- 9.64%
- 3Y*
- 7.32%
- 5Y*
- 3.15%
- 10Y*
- 4.26%
FIRQX vs. FFGZX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FIRQX Fidelity Managed Retirement 2010 Fund | 3.60% | 9.97% | 4.48% | 8.52% | -12.39% | 3.82% | 9.59% | 12.62% | -2.83% | 10.63% |
FFGZX Fidelity Freedom Index Income Fund Institutional Premium Class | 3.98% | 9.13% | 5.02% | 8.32% | -11.07% | 2.85% | 8.59% | 10.68% | -0.80% | 6.73% |
Correlation
The correlation between FIRQX and FFGZX is 0.96 - 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 | 0.96 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Jun 29, 2015 | 0.92 |
The correlation between FIRQX and FFGZX has been stable across timeframes, ranging from 0.92 to 0.97 - a consistent structural relationship.
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Return for Risk
FIRQX vs. FFGZX — Risk / Return Rank
FIRQX
FFGZX
FIRQX vs. FFGZX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Managed Retirement 2010 Fund (FIRQX) and Fidelity Freedom Index Income Fund Institutional Premium Class (FFGZX). 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.
| FIRQX | FFGZX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.06 | ||
| Sortino ratioReturn per unit of downside risk | -0.12 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.45 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.77 | 2.91 | -0.13 |
| Martin ratioReturn relative to average drawdown | 11.64 | 12.65 | -1.01 |
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Drawdowns
FIRQX vs. FFGZX - Drawdown Comparison
The maximum FIRQX drawdown since its inception was -38.01%, which is greater than FFGZX's maximum drawdown of -14.94%. Use the drawdown chart below to compare losses from any high point for FIRQX and FFGZX.
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Drawdown Indicators
| FIRQX | FFGZX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.01% | -14.94% | -23.07% |
Max Drawdown (1Y)Largest decline over 1 year | -3.45% | -3.33% | -0.12% |
Max Drawdown (3Y)Largest decline over 3 years | -5.19% | -4.76% | -0.43% |
Max Drawdown (5Y)Largest decline over 5 years | -17.04% | -14.94% | -2.10% |
Max Drawdown (10Y)Largest decline over 10 years | -17.04% | -14.94% | -2.10% |
Current DrawdownCurrent decline from peak | -0.44% | -0.29% | -0.15% |
Average DrawdownAverage peak-to-trough decline | -4.43% | -2.26% | -2.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.82% | 0.76% | +0.06% |
Volatility
FIRQX vs. FFGZX - Volatility Comparison
Fidelity Managed Retirement 2010 Fund (FIRQX) has a higher volatility of 2.05% compared to Fidelity Freedom Index Income Fund Institutional Premium Class (FFGZX) at 1.92%. This indicates that FIRQX's price experiences larger fluctuations and is considered to be riskier than FFGZX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FIRQX | FFGZX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.05% | 1.92% | +0.13% |
Volatility (6M)Calculated over the trailing 6-month period | 3.72% | 3.69% | +0.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.38% | 4.31% | +0.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.60% | 5.14% | +0.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.35% | 4.46% | +0.89% |
FIRQX vs. FFGZX - Expense Ratio Comparison
FIRQX has a 0.46% expense ratio, which is higher than FFGZX's 0.08% expense ratio.
Dividends
FIRQX vs. FFGZX - Dividend Comparison
FIRQX's dividend yield for the trailing twelve months is around 3.30%, more than FFGZX's 3.22% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FFGZX Fidelity Freedom Index Income Fund Institutional Premium Class | 3.22% | 3.30% | 3.18% | 2.88% | 3.11% | 2.10% | 2.22% | 7.35% | 3.00% | 1.95% | 1.56% | 1.06% |
FIRQX Fidelity Managed Retirement 2010 Fund | 3.30% | 3.14% | 2.95% | 2.75% | 5.01% | 6.00% | 3.50% | 3.15% | 5.59% | 16.31% | 2.43% | 4.08% |
Frequently Asked Questions
With a correlation of 0.96, FIRQX and FFGZX 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.
FIRQX has higher volatility (2.05%) compared to FFGZX (1.92%). In terms of maximum drawdown, FIRQX dropped -38.01% vs FFGZX's -14.94%.
FFGZX currently has the higher Sharpe Ratio (2.25 vs 2.19), 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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