FJAJX vs. FNILX

Last updated Jun 24, 2026

FJAJX (Fidelity Advisor Freedom Blend 2020 Fund Class I) and FNILX (Fidelity ZERO Large Cap Index Fund) are both mutual funds - FJAJX is a Target Retirement Date fund managed by Fidelity, while FNILX is a Large Cap Blend Equities fund managed by Fidelity. Over the past 5 years, FJAJX returned 4.81%/yr vs 13.32%/yr for FNILX. Their correlation of 0.87 suggests significant overlap in exposure. FJAJX charges 0.44%/yr vs 0.00%/yr for FNILX.

Performance

FJAJX vs. FNILX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Freedom Blend 2020 Fund Class I (FJAJX) and Fidelity ZERO Large Cap Index Fund (FNILX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FJAJX achieves a 7.13% return, which is significantly lower than FNILX's 9.63% return.

FJAJX

• 1D: -0.24%
• 1M: 1.64%
• YTD: 7.13%
• 6M: 6.98%
• 1Y: 16.05%
• 3Y*: 11.48%
• 5Y*: 4.81%
• 10Y*: —

FNILX

• 1D: -0.37%
• 1M: 0.34%
• YTD: 9.63%
• 6M: 8.65%
• 1Y: 25.14%
• 3Y*: 21.66%
• 5Y*: 13.32%
• 10Y*: —

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

FJAJX vs. FNILX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
FJAJX Fidelity Advisor Freedom Blend 2020 Fund Class I	7.13%	14.41%	6.99%	12.71%	-16.59%	8.58%	13.28%	18.38%	-6.90%
FNILX Fidelity ZERO Large Cap Index Fund	9.63%	17.81%	25.47%	27.45%	-19.37%	26.67%	21.13%	31.79%	-13.60%

Correlation

The correlation between FJAJX and FNILX is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.88
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (All Time) Calculated using the full available price history since Sep 28, 2018	0.87

The correlation between FJAJX and FNILX has been stable across timeframes, ranging from 0.83 to 0.88 - a consistent structural relationship.

Return for Risk

FJAJX vs. FNILX — Risk / Return Rank

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

FJAJX

FJAJX Risk / Return Rank: 70
FJAJX Sharpe Ratio Rank: 68
FJAJX Sortino Ratio Rank: 70
FJAJX Omega Ratio Rank: 74
FJAJX Calmar Ratio Rank: 68
FJAJX Martin Ratio Rank: 73

FNILX

FNILX Risk / Return Rank: 62
FNILX Sharpe Ratio Rank: 60
FNILX Sortino Ratio Rank: 54
FNILX Omega Ratio Rank: 56
FNILX Calmar Ratio Rank: 64
FNILX 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.

FJAJX vs. FNILX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Freedom Blend 2020 Fund Class I (FJAJX) and Fidelity ZERO Large Cap Index Fund (FNILX). 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.

	FJAJX	FNILX	Difference
Sharpe ratio: Return per unit of total volatility	2.22	2.10	+0.12
Sortino ratio: Return per unit of downside risk	3.17	2.84	+0.34
Omega ratio: Gain probability vs. loss probability	1.44	1.38	+0.06
Calmar ratio: Return relative to maximum drawdown	3.03	2.94	+0.09
Martin ratio: Return relative to average drawdown	12.91	12.99	-0.09

FJAJX vs. FNILX - Sharpe Ratio Comparison

The current FJAJX Sharpe Ratio is 2.22, which is comparable to the FNILX Sharpe Ratio of 2.10. The chart below compares the historical Sharpe Ratios of FJAJX and FNILX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FJAJX vs. FNILX - Drawdown Comparison

The maximum FJAJX drawdown since its inception was -22.88%, smaller than the maximum FNILX drawdown of -33.76%. Use the drawdown chart below to compare losses from any high point for FJAJX and FNILX.

Drawdown Indicators

	FJAJX	FNILX	Difference
Max Drawdown Largest peak-to-trough decline	-22.88%	-33.76%	+10.88%
Max Drawdown (1Y) Largest decline over 1 year	-5.49%	-9.01%	+3.52%
Max Drawdown (3Y) Largest decline over 3 years	-7.92%	-19.08%	+11.16%
Max Drawdown (5Y) Largest decline over 5 years	-22.88%	-25.40%	+2.52%
Current Drawdown Current decline from peak	-0.24%	-1.73%	+1.49%
Average Drawdown Average peak-to-trough decline	-4.86%	-5.35%	+0.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.29%	2.03%	-0.74%

Volatility

FJAJX vs. FNILX - Volatility Comparison

The current volatility for Fidelity Advisor Freedom Blend 2020 Fund Class I (FJAJX) is 3.17%, while Fidelity ZERO Large Cap Index Fund (FNILX) has a volatility of 4.82%. This indicates that FJAJX experiences smaller price fluctuations and is considered to be less risky than FNILX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FJAJX	FNILX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.17%	4.82%	-1.65%
Volatility (6M) Calculated over the trailing 6-month period	6.37%	9.90%	-3.53%
Volatility (1Y) Calculated over the trailing 1-year period	7.50%	12.61%	-5.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.04%	17.34%	-8.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.75%	20.04%	-10.29%

FJAJX vs. FNILX - Expense Ratio Comparison

FJAJX has a 0.44% expense ratio, which is higher than FNILX's 0.00% expense ratio.

Dividends

FJAJX vs. FNILX - Dividend Comparison

FJAJX's dividend yield for the trailing twelve months is around 3.28%, more than FNILX's 0.92% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
FJAJX Fidelity Advisor Freedom Blend 2020 Fund Class I	3.28%	2.59%	2.42%	2.40%	5.71%	7.27%	4.34%	3.03%	1.29%
FNILX Fidelity ZERO Large Cap Index Fund	0.92%	1.01%	1.09%	1.34%	1.53%	0.95%	1.20%	1.17%	0.53%

Frequently Asked Questions

Can I hold both FJAJX and FNILX in my portfolio?

FJAJX and FNILX have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FJAJX or FNILX?

FNILX has higher volatility (4.82%) compared to FJAJX (3.17%). In terms of maximum drawdown, FJAJX dropped -22.88% vs FNILX's -33.76%.

Which has better risk-adjusted returns?

FJAJX currently has the higher Sharpe Ratio (2.22 vs 2.10), 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.