FIWFX vs. FFGZX
FIWFX (Fidelity Freedom Index 2015 Fund Institutional Premium Class) and FFGZX (Fidelity Freedom Index Income Fund Institutional Premium Class) are both Target Retirement Date funds from Fidelity. Over the past 10 years, FIWFX returned 6.44%/yr vs 4.28%/yr for FFGZX. Their correlation of 0.90 suggests significant overlap in exposure. Both charge a 0.08% expense ratio.
Performance
FIWFX vs. FFGZX - Performance Comparison
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Returns By Period
In the year-to-date period, FIWFX achieves a 5.34% return, which is significantly higher than FFGZX's 4.28% return. Over the past 10 years, FIWFX has outperformed FFGZX with an annualized return of 6.44%, while FFGZX has yielded a comparatively lower 4.28% annualized return.
FIWFX
- 1D
- 0.19%
- 1M
- 2.29%
- YTD
- 5.34%
- 6M
- 5.56%
- 1Y
- 13.55%
- 3Y*
- 9.93%
- 5Y*
- 4.35%
- 10Y*
- 6.44%
FFGZX
- 1D
- 0.16%
- 1M
- 1.75%
- YTD
- 4.28%
- 6M
- 4.42%
- 1Y
- 10.55%
- 3Y*
- 7.68%
- 5Y*
- 3.28%
- 10Y*
- 4.28%
FIWFX vs. FFGZX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FIWFX Fidelity Freedom Index 2015 Fund Institutional Premium Class | 5.34% | 11.81% | 6.76% | 11.32% | -14.44% | 6.84% | 11.61% | 16.47% | -3.39% | 12.67% |
FFGZX Fidelity Freedom Index Income Fund Institutional Premium Class | 4.28% | 9.13% | 5.02% | 8.32% | -11.07% | 2.85% | 8.59% | 10.68% | -0.80% | 6.73% |
Correlation
The correlation between FIWFX and FFGZX is 0.97 - 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 | 0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.93 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2015 | 0.90 |
The correlation between FIWFX and FFGZX has been stable across timeframes, ranging from 0.90 to 0.97 - a consistent structural relationship.
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Return for Risk
FIWFX vs. FFGZX — Risk / Return Rank
FIWFX
FFGZX
FIWFX vs. FFGZX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Freedom Index 2015 Fund Institutional Premium Class (FIWFX) 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.
| FIWFX | FFGZX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.06 | ||
| Sortino ratioReturn per unit of downside risk | -0.19 | ||
| Omega ratioGain probability vs. loss probability | 1.51 | 1.54 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 3.15 | 3.18 | -0.03 |
| Martin ratioReturn relative to average drawdown | 13.96 | 14.23 | -0.27 |
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
| FIWFX | FFGZX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.58 | 2.64 | -0.06 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.60 | 0.65 | -0.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.86 | 0.97 | -0.11 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.79 | 0.93 | -0.14 |
Drawdowns
FIWFX vs. FFGZX - Drawdown Comparison
The maximum FIWFX drawdown since its inception was -19.50%, which is greater than FFGZX's maximum drawdown of -14.94%. Use the drawdown chart below to compare losses from any high point for FIWFX and FFGZX.
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Drawdown Indicators
| FIWFX | FFGZX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.50% | -14.94% | -4.56% |
Max Drawdown (1Y)Largest decline over 1 year | -4.31% | -3.33% | -0.98% |
Max Drawdown (3Y)Largest decline over 3 years | -6.72% | -4.76% | -1.96% |
Max Drawdown (5Y)Largest decline over 5 years | -19.50% | -14.94% | -4.56% |
Max Drawdown (10Y)Largest decline over 10 years | -19.50% | -14.94% | -4.56% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -3.29% | -2.26% | -1.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.97% | 0.74% | +0.23% |
Volatility
FIWFX vs. FFGZX - Volatility Comparison
Fidelity Freedom Index 2015 Fund Institutional Premium Class (FIWFX) has a higher volatility of 1.86% compared to Fidelity Freedom Index Income Fund Institutional Premium Class (FFGZX) at 1.49%. This indicates that FIWFX'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
| FIWFX | FFGZX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.86% | 1.49% | +0.37% |
Volatility (6M)Calculated over the trailing 6-month period | 4.34% | 3.34% | +1.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.27% | 4.01% | +1.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.29% | 5.08% | +2.21% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.50% | 4.43% | +3.07% |
FIWFX vs. FFGZX - Expense Ratio Comparison
Both FIWFX and FFGZX have an expense ratio of 0.08%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
FIWFX vs. FFGZX - Dividend Comparison
FIWFX's dividend yield for the trailing twelve months is around 4.87%, more than FFGZX's 3.21% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FFGZX Fidelity Freedom Index Income Fund Institutional Premium Class | 3.21% | 3.30% | 3.18% | 2.88% | 3.11% | 2.10% | 2.22% | 7.35% | 3.00% | 1.95% | 1.56% | 1.06% |
FIWFX Fidelity Freedom Index 2015 Fund Institutional Premium Class | 4.87% | 5.46% | 5.21% | 2.60% | 3.14% | 2.90% | 2.67% | 18.25% | 3.19% | 1.99% | 1.91% | 1.77% |
Frequently Asked Questions
With a correlation of 0.97, FIWFX 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.
FIWFX has higher volatility (1.86%) compared to FFGZX (1.49%). In terms of maximum drawdown, FIWFX dropped -19.50% vs FFGZX's -14.94%.
FFGZX currently has the higher Sharpe Ratio (2.64 vs 2.58), 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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