FLRLX vs. FFFFX
FLRLX (Franklin LifeSmart 2045 Retirement Target Fund) and FFFFX (Fidelity Freedom 2040 Fund) are both Target Retirement Date funds. Over the past 10 years, FLRLX returned 10.74%/yr vs 11.49%/yr for FFFFX. Their 0.96 correlation means they have historically moved very closely together. FLRLX charges 0.25%/yr vs 0.66%/yr for FFFFX.
Performance
FLRLX vs. FFFFX - Performance Comparison
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Returns By Period
In the year-to-date period, FLRLX achieves a 9.29% return, which is significantly lower than FFFFX's 10.42% return. Over the past 10 years, FLRLX has underperformed FFFFX with an annualized return of 10.74%, while FFFFX has yielded a comparatively higher 11.49% annualized return.
FLRLX
- 1D
- 2.02%
- 1M
- -0.37%
- 6M
- 6.22%
- YTD
- 9.29%
- 1Y
- 20.61%
- 3Y*
- 16.28%
- 5Y*
- 9.16%
- 10Y*
- 10.74%
- ALL TIME*
- 9.33%
FFFFX
- 1D
- 1.94%
- 1M
- -1.18%
- 6M
- 6.83%
- YTD
- 10.42%
- 1Y
- 21.72%
- 3Y*
- 16.45%
- 5Y*
- 9.07%
- 10Y*
- 11.49%
- ALL TIME*
- 6.16%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
FLRLX vs. FFFFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FLRLX Franklin LifeSmart 2045 Retirement Target Fund | 9.29% | 20.46% | 14.99% | 18.90% | -17.36% | 17.28% | 16.02% | 22.52% | -7.14% | 19.04% |
FFFFX Fidelity Freedom 2040 Fund | 10.42% | 22.01% | 13.20% | 20.06% | -18.31% | 16.57% | 18.24% | 25.38% | -8.94% | 22.26% |
Correlation
The correlation between FLRLX and FFFFX is 0.98 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.98 |
Correlation (3Y) Balances recent behavior with more history. | 0.98 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.97 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.96 |
Correlation (All Time) Calculated using the full available price history since Jan 6, 2015 | 0.96 |
The correlation between FLRLX and FFFFX has been stable across timeframes, ranging from 0.96 to 0.98 - a consistent structural relationship.
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Return for Risk
FLRLX vs. FFFFX — Risk / Return Rank
FLRLX
FFFFX
FLRLX vs. FFFFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Franklin LifeSmart 2045 Retirement Target Fund (FLRLX) and Fidelity Freedom 2040 Fund (FFFFX). 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.
| FLRLX | FFFFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.05 | ||
| Sortino ratioReturn per unit of downside risk | -0.06 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.29 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.13 | 2.33 | -0.19 |
| Martin ratioReturn relative to average drawdown | 9.01 | 9.61 | -0.60 |
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Drawdowns
FLRLX vs. FFFFX - Drawdown Comparison
The maximum FLRLX drawdown since its inception was -36.66%, smaller than the maximum FFFFX drawdown of -54.10%. Use the drawdown chart below to compare losses from any high point for FLRLX and FFFFX.
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Drawdown Indicators
| FLRLX | FFFFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.66% | -54.10% | +17.44% |
Max Drawdown (1Y)Largest decline over 1 year | -8.92% | -8.71% | -0.21% |
Max Drawdown (3Y)Largest decline over 3 years | -14.50% | -14.08% | -0.42% |
Max Drawdown (5Y)Largest decline over 5 years | -36.66% | -27.21% | -9.45% |
Max Drawdown (10Y)Largest decline over 10 years | -36.66% | -30.93% | -5.73% |
Current DrawdownCurrent decline from peak | -1.75% | -2.34% | +0.59% |
Average DrawdownAverage peak-to-trough decline | -7.93% | -11.08% | +3.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.11% | 2.10% | +0.01% |
Volatility
FLRLX vs. FFFFX - Volatility Comparison
Franklin LifeSmart 2045 Retirement Target Fund (FLRLX) and Fidelity Freedom 2040 Fund (FFFFX) have volatilities of 3.82% and 3.83%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FLRLX | FFFFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.82% | 3.83% | -0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 10.38% | 10.96% | -0.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.38% | 12.79% | -0.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.20% | 14.55% | +3.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.38% | 15.05% | +1.33% |
FLRLX vs. FFFFX - Expense Ratio Comparison
FLRLX has a 0.25% expense ratio, which is lower than FFFFX's 0.66% expense ratio.
Dividends
FLRLX vs. FFFFX - Dividend Comparison
FLRLX's dividend yield for the trailing twelve months is around 6.14%, less than FFFFX's 6.45% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FFFFX Fidelity Freedom 2040 Fund | 6.45% | 5.07% | 2.63% | 1.72% | 12.33% | 12.09% | 5.67% | 6.69% | 7.97% | 4.37% | 4.05% | 4.81% |
FLRLX Franklin LifeSmart 2045 Retirement Target Fund | 6.14% | 6.74% | 3.17% | 2.49% | 4.28% | 21.72% | 4.14% | 3.20% | 6.45% | 2.33% | 2.44% | 4.46% |
Frequently Asked Questions
With a correlation of 0.98, FLRLX and FFFFX 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.
FFFFX has higher volatility (3.83%) compared to FLRLX (3.82%). In terms of maximum drawdown, FLRLX dropped -36.66% vs FFFFX's -54.10%.
FFFFX currently has the higher Sharpe Ratio (1.59 vs 1.54), 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.
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