FNGLX vs. ANGL

Last updated Jun 23, 2026

FNGLX (Fidelity Advisor Freedom 2060 Fund Class Z6) and ANGL (VanEck Vectors Fallen Angel High Yield Bond ETF) are both funds - FNGLX is a Target Retirement Date fund managed by Fidelity, while ANGL is a High Yield Bonds fund tracking the BofA Merrill Lynch US Fallen Angel High Yield Index. Over the past 5 years, FNGLX returned 10.59%/yr vs 3.32%/yr for ANGL. A 0.68 correlation means they provide meaningful diversification when combined. FNGLX charges 0.50%/yr vs 0.35%/yr for ANGL.

Performance

FNGLX vs. ANGL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Advisor Freedom 2060 Fund Class Z6 (FNGLX) and VanEck Vectors Fallen Angel High Yield Bond ETF (ANGL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FNGLX achieves a 13.61% return, which is significantly higher than ANGL's 2.04% return.

FNGLX

• 1D: 1.45%
• 1M: 3.18%
• YTD: 13.61%
• 6M: 13.73%
• 1Y: 29.61%
• 3Y*: 19.54%
• 5Y*: 10.59%
• 10Y*: —

ANGL

• 1D: -0.03%
• 1M: 1.01%
• YTD: 2.04%
• 6M: 2.40%
• 1Y: 7.40%
• 3Y*: 8.62%
• 5Y*: 3.32%
• 10Y*: 6.25%

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

FNGLX vs. ANGL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FNGLX Fidelity Advisor Freedom 2060 Fund Class Z6	13.61%	23.45%	13.95%	19.61%	-17.95%	16.30%	17.81%	26.88%	-7.97%	8.02%
ANGL VanEck Vectors Fallen Angel High Yield Bond ETF	2.04%	9.04%	6.06%	12.52%	-14.26%	6.84%	13.20%	18.06%	-5.84%	4.09%

Correlation

The correlation between FNGLX and ANGL is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.75
Correlation (3Y) Calculated over the trailing 3-year period	0.70
Correlation (5Y) Calculated over the trailing 5-year period	0.71
Correlation (All Time) Calculated using the full available price history since Jun 15, 2017	0.68

The correlation between FNGLX and ANGL has been stable across timeframes, ranging from 0.68 to 0.75 - a consistent structural relationship.

Return for Risk

FNGLX vs. ANGL — Risk / Return Rank

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

FNGLX

FNGLX Risk / Return Rank: 65
FNGLX Sharpe Ratio Rank: 64
FNGLX Sortino Ratio Rank: 60
FNGLX Omega Ratio Rank: 63
FNGLX Calmar Ratio Rank: 66
FNGLX Martin Ratio Rank: 72

ANGL

ANGL Risk / Return Rank: 49
ANGL Sharpe Ratio Rank: 52
ANGL Sortino Ratio Rank: 52
ANGL Omega Ratio Rank: 55
ANGL Calmar Ratio Rank: 38
ANGL Martin Ratio Rank: 47

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.

FNGLX vs. ANGL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Freedom 2060 Fund Class Z6 (FNGLX) and VanEck Vectors Fallen Angel High Yield Bond ETF (ANGL). 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.

	FNGLX	ANGL	Difference
Sharpe ratio: Return per unit of total volatility	2.16	1.71	+0.45
Sortino ratio: Return per unit of downside risk	2.95	2.45	+0.51
Omega ratio: Gain probability vs. loss probability	1.40	1.33	+0.07
Calmar ratio: Return relative to maximum drawdown	2.98	1.84	+1.15
Martin ratio: Return relative to average drawdown	12.91	7.68	+5.23

FNGLX vs. ANGL - Sharpe Ratio Comparison

The current FNGLX Sharpe Ratio is 2.16, which is comparable to the ANGL Sharpe Ratio of 1.71. The chart below compares the historical Sharpe Ratios of FNGLX and ANGL, 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

FNGLX vs. ANGL - Drawdown Comparison

The maximum FNGLX drawdown since its inception was -31.22%, which is greater than ANGL's maximum drawdown of -29.31%. Use the drawdown chart below to compare losses from any high point for FNGLX and ANGL.

Drawdown Indicators

	FNGLX	ANGL	Difference
Max Drawdown Largest peak-to-trough decline	-31.22%	-29.31%	-1.91%
Max Drawdown (1Y) Largest decline over 1 year	-9.90%	-4.05%	-5.85%
Max Drawdown (3Y) Largest decline over 3 years	-15.06%	-5.48%	-9.58%
Max Drawdown (5Y) Largest decline over 5 years	-27.15%	-19.25%	-7.90%
Max Drawdown (10Y) Largest decline over 10 years	—	-29.31%	—
Current Drawdown Current decline from peak	0.00%	-0.03%	+0.03%
Average Drawdown Average peak-to-trough decline	-5.44%	-3.29%	-2.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.28%	0.97%	+1.31%

Volatility

FNGLX vs. ANGL - Volatility Comparison

Fidelity Advisor Freedom 2060 Fund Class Z6 (FNGLX) has a higher volatility of 5.79% compared to VanEck Vectors Fallen Angel High Yield Bond ETF (ANGL) at 1.17%. This indicates that FNGLX's price experiences larger fluctuations and is considered to be riskier than ANGL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FNGLX	ANGL	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.79%	1.17%	+4.62%
Volatility (6M) Calculated over the trailing 6-month period	11.74%	3.55%	+8.19%
Volatility (1Y) Calculated over the trailing 1-year period	13.69%	4.37%	+9.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.15%	7.64%	+7.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.11%	9.28%	+6.83%

FNGLX vs. ANGL - Expense Ratio Comparison

FNGLX has a 0.50% expense ratio, which is higher than ANGL's 0.35% expense ratio.

Dividends

FNGLX vs. ANGL - Dividend Comparison

FNGLX's dividend yield for the trailing twelve months is around 6.02%, less than ANGL's 6.34% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ANGL VanEck Vectors Fallen Angel High Yield Bond ETF	6.34%	6.20%	6.29%	5.27%	4.72%	3.90%	4.67%	5.19%	5.99%	5.25%	5.34%	5.81%
FNGLX Fidelity Advisor Freedom 2060 Fund Class Z6	6.02%	4.94%	2.04%	2.36%	10.48%	8.88%	4.70%	6.51%	8.88%	1.06%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FNGLX and ANGL in my portfolio?

FNGLX and ANGL have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FNGLX or ANGL?

FNGLX has higher volatility (5.79%) compared to ANGL (1.17%). In terms of maximum drawdown, FNGLX dropped -31.22% vs ANGL's -29.31%.

Which has better risk-adjusted returns?

FNGLX currently has the higher Sharpe Ratio (2.16 vs 1.71), 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.