FIWTX vs. FIWFX

Last updated Jun 4, 2026

FIWTX (Fidelity Freedom Index 2020 Fund Institutional Premium Class) and FIWFX (Fidelity Freedom Index 2015 Fund Institutional Premium Class) are both Target Retirement Date funds from Fidelity. Over the past 10 years, FIWTX returned 7.28%/yr vs 6.44%/yr for FIWFX. With a 0.99 correlation, they move nearly in lockstep. Both charge a 0.08% expense ratio.

Performance

FIWTX vs. FIWFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Freedom Index 2020 Fund Institutional Premium Class (FIWTX) and Fidelity Freedom Index 2015 Fund Institutional Premium Class (FIWFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FIWTX achieves a 6.30% return, which is significantly higher than FIWFX's 5.34% return. Over the past 10 years, FIWTX has outperformed FIWFX with an annualized return of 7.28%, while FIWFX has yielded a comparatively lower 6.44% annualized return.

FIWTX

• 1D: 0.23%
• 1M: 2.77%
• YTD: 6.30%
• 6M: 6.61%
• 1Y: 15.77%
• 3Y*: 11.32%
• 5Y*: 5.03%
• 10Y*: 7.28%

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%

*Multi-year figures are annualized to reflect compound growth (CAGR)

FIWTX vs. FIWFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FIWTX Fidelity Freedom Index 2020 Fund Institutional Premium Class	6.30%	13.40%	7.73%	12.72%	-15.86%	8.40%	12.75%	18.25%	-3.86%	13.95%
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%

Correlation

The correlation between FIWTX and FIWFX 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 Jun 30, 2015	0.99

The correlation between FIWTX and FIWFX has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.

Return for Risk

FIWTX vs. FIWFX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FIWTX

FIWTX Risk / Return Rank: 73
FIWTX Sharpe Ratio Rank: 77
FIWTX Sortino Ratio Rank: 77
FIWTX Omega Ratio Rank: 76
FIWTX Calmar Ratio Rank: 65
FIWTX Martin Ratio Rank: 72

FIWFX

FIWFX Risk / Return Rank: 75
FIWFX Sharpe Ratio Rank: 79
FIWFX Sortino Ratio Rank: 80
FIWFX Omega Ratio Rank: 78
FIWFX Calmar Ratio Rank: 67
FIWFX Martin Ratio Rank: 73

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FIWTX vs. FIWFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Freedom Index 2020 Fund Institutional Premium Class (FIWTX) and Fidelity Freedom Index 2015 Fund Institutional Premium Class (FIWFX). 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.

	FIWTX	FIWFX	Difference
Sharpe ratio Return per unit of total volatility	2.54	2.58	-0.04
Sortino ratio Return per unit of downside risk	3.66	3.78	-0.12
Omega ratio Gain probability vs. loss probability	1.49	1.51	-0.02
Calmar ratio Return relative to maximum drawdown	3.11	3.15	-0.04
Martin ratio Return relative to average drawdown	13.79	13.96	-0.17
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FIWTX vs. FIWFX - Sharpe Ratio Comparison

The current FIWTX Sharpe Ratio is 2.54, which is comparable to the FIWFX Sharpe Ratio of 2.58. The chart below compares the historical Sharpe Ratios of FIWTX and FIWFX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FIWTX	FIWFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.54	2.58	-0.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.59	0.60	-0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.83	0.86	-0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.76	0.79	-0.03

Drawdowns

FIWTX vs. FIWFX - Drawdown Comparison

The maximum FIWTX drawdown since its inception was -21.59%, which is greater than FIWFX's maximum drawdown of -19.50%. Use the drawdown chart below to compare losses from any high point for FIWTX and FIWFX.

Drawdown Indicators

	FIWTX	FIWFX	Difference
Max Drawdown Largest peak-to-trough decline	-21.59%	-19.50%	-2.09%
Max Drawdown (1Y) Largest decline over 1 year	-5.11%	-4.31%	-0.80%
Max Drawdown (3Y) Largest decline over 3 years	-7.85%	-6.72%	-1.13%
Max Drawdown (5Y) Largest decline over 5 years	-21.59%	-19.50%	-2.09%
Max Drawdown (10Y) Largest decline over 10 years	-21.59%	-19.50%	-2.09%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-3.66%	-3.29%	-0.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.15%	0.97%	+0.18%

Volatility

FIWTX vs. FIWFX - Volatility Comparison

Fidelity Freedom Index 2020 Fund Institutional Premium Class (FIWTX) has a higher volatility of 2.14% compared to Fidelity Freedom Index 2015 Fund Institutional Premium Class (FIWFX) at 1.86%. This indicates that FIWTX's price experiences larger fluctuations and is considered to be riskier than FIWFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FIWTX	FIWFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.14%	1.86%	+0.28%
Volatility (6M) Calculated over the trailing 6-month period	5.13%	4.34%	+0.79%
Volatility (1Y) Calculated over the trailing 1-year period	6.26%	5.27%	+0.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.56%	7.29%	+1.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.82%	7.50%	+1.32%

FIWTX vs. FIWFX - Expense Ratio Comparison

Both FIWTX and FIWFX 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

FIWTX vs. FIWFX - Dividend Comparison

FIWTX's dividend yield for the trailing twelve months is around 5.82%, more than FIWFX's 4.87% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
FIWTX Fidelity Freedom Index 2020 Fund Institutional Premium Class	5.82%	6.00%	5.88%	2.47%	3.00%	2.77%	2.57%	17.46%	2.56%	1.89%	1.90%	1.79%

Frequently Asked Questions

Can I hold both FIWTX and FIWFX in my portfolio?

With a correlation of 0.99, FIWTX and FIWFX 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.

Which is riskier, FIWTX or FIWFX?

FIWTX has higher volatility (2.14%) compared to FIWFX (1.86%). In terms of maximum drawdown, FIWTX dropped -21.59% vs FIWFX's -19.50%.

Which has better risk-adjusted returns?

FIWFX currently has the higher Sharpe Ratio (2.58 vs 2.54), 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.