FKGLX vs. LIRIX

Last updated Jun 23, 2026

FKGLX (Fidelity Advisor Freedom 2040 Fund Class Z6) and LIRIX (BlackRock LifePath Index Retirement Fund) are both Target Retirement Date funds. Over the past 5 years, FKGLX returned 10.31%/yr vs 3.98%/yr for LIRIX. Their correlation of 0.89 suggests significant overlap in exposure. FKGLX charges 0.50%/yr vs 0.11%/yr for LIRIX.

Performance

FKGLX vs. LIRIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Freedom 2040 Fund Class Z6 (FKGLX) and BlackRock LifePath Index Retirement Fund (LIRIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FKGLX achieves a 11.99% return, which is significantly higher than LIRIX's 5.30% return.

FKGLX

• 1D: 1.31%
• 1M: 2.92%
• YTD: 11.99%
• 6M: 12.04%
• 1Y: 26.51%
• 3Y*: 19.15%
• 5Y*: 10.31%
• 10Y*: —

LIRIX

• 1D: -0.19%
• 1M: 0.71%
• YTD: 5.30%
• 6M: 5.08%
• 1Y: 13.03%
• 3Y*: 9.82%
• 5Y*: 3.98%
• 10Y*: 6.03%

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

FKGLX vs. LIRIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FKGLX Fidelity Advisor Freedom 2040 Fund Class Z6	11.99%	21.77%	16.27%	19.02%	-17.89%	16.35%	17.80%	27.00%	-8.05%	7.80%
LIRIX BlackRock LifePath Index Retirement Fund	5.30%	12.41%	6.04%	11.50%	-15.31%	6.69%	11.40%	15.84%	-3.54%	4.57%

Correlation

The correlation between FKGLX and LIRIX is 0.93, 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	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.88
Correlation (All Time) Calculated using the full available price history since Jun 15, 2017	0.89

The correlation between FKGLX and LIRIX has been stable across timeframes, ranging from 0.88 to 0.93 - a consistent structural relationship.

Return for Risk

FKGLX vs. LIRIX — Risk / Return Rank

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

FKGLX

FKGLX Risk / Return Rank: 66
FKGLX Sharpe Ratio Rank: 65
FKGLX Sortino Ratio Rank: 61
FKGLX Omega Ratio Rank: 65
FKGLX Calmar Ratio Rank: 66
FKGLX Martin Ratio Rank: 71

LIRIX

LIRIX Risk / Return Rank: 75
LIRIX Sharpe Ratio Rank: 73
LIRIX Sortino Ratio Rank: 74
LIRIX Omega Ratio Rank: 75
LIRIX Calmar Ratio Rank: 75
LIRIX Martin Ratio Rank: 80

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.

FKGLX vs. LIRIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Freedom 2040 Fund Class Z6 (FKGLX) and BlackRock LifePath Index Retirement Fund (LIRIX). 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.

	FKGLX	LIRIX	Difference
Sharpe ratio: Return per unit of total volatility	2.17	2.28	-0.12
Sortino ratio: Return per unit of downside risk	2.99	3.28	-0.28
Omega ratio: Gain probability vs. loss probability	1.41	1.44	-0.04
Calmar ratio: Return relative to maximum drawdown	2.99	3.21	-0.22
Martin ratio: Return relative to average drawdown	12.79	13.95	-1.16

FKGLX vs. LIRIX - Sharpe Ratio Comparison

The current FKGLX Sharpe Ratio is 2.17, which is comparable to the LIRIX Sharpe Ratio of 2.28. The chart below compares the historical Sharpe Ratios of FKGLX and LIRIX, 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

FKGLX vs. LIRIX - Drawdown Comparison

The maximum FKGLX drawdown since its inception was -31.23%, which is greater than LIRIX's maximum drawdown of -20.49%. Use the drawdown chart below to compare losses from any high point for FKGLX and LIRIX.

Drawdown Indicators

	FKGLX	LIRIX	Difference
Max Drawdown Largest peak-to-trough decline	-31.23%	-20.49%	-10.74%
Max Drawdown (1Y) Largest decline over 1 year	-8.82%	-4.23%	-4.59%
Max Drawdown (3Y) Largest decline over 3 years	-13.78%	-7.56%	-6.22%
Max Drawdown (5Y) Largest decline over 5 years	-27.05%	-20.49%	-6.56%
Max Drawdown (10Y) Largest decline over 10 years	—	-20.49%	—
Current Drawdown Current decline from peak	0.00%	-0.51%	+0.51%
Average Drawdown Average peak-to-trough decline	-5.41%	-2.85%	-2.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.05%	0.97%	+1.08%

Volatility

FKGLX vs. LIRIX - Volatility Comparison

Fidelity Advisor Freedom 2040 Fund Class Z6 (FKGLX) has a higher volatility of 5.08% compared to BlackRock LifePath Index Retirement Fund (LIRIX) at 2.40%. This indicates that FKGLX's price experiences larger fluctuations and is considered to be riskier than LIRIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FKGLX	LIRIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.08%	2.40%	+2.68%
Volatility (6M) Calculated over the trailing 6-month period	10.36%	4.99%	+5.37%
Volatility (1Y) Calculated over the trailing 1-year period	12.18%	5.95%	+6.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.46%	7.88%	+6.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.74%	7.53%	+8.21%

FKGLX vs. LIRIX - Expense Ratio Comparison

FKGLX has a 0.50% expense ratio, which is higher than LIRIX's 0.11% expense ratio.

Dividends

FKGLX vs. LIRIX - Dividend Comparison

FKGLX's dividend yield for the trailing twelve months is around 7.91%, more than LIRIX's 3.64% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FKGLX Fidelity Advisor Freedom 2040 Fund Class Z6	7.91%	7.40%	5.77%	1.58%	11.37%	10.16%	6.18%	7.47%	12.35%	2.66%	0.00%	0.00%
LIRIX BlackRock LifePath Index Retirement Fund	3.64%	3.83%	2.02%	2.62%	2.69%	2.68%	1.93%	2.43%	2.44%	2.22%	2.47%	2.92%

Frequently Asked Questions

Can I hold both FKGLX and LIRIX in my portfolio?

With a correlation of 0.93, FKGLX and LIRIX 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, FKGLX or LIRIX?

FKGLX has higher volatility (5.08%) compared to LIRIX (2.40%). In terms of maximum drawdown, FKGLX dropped -31.23% vs LIRIX's -20.49%.

Which has better risk-adjusted returns?

LIRIX currently has the higher Sharpe Ratio (2.28 vs 2.17), 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.