FNSBX vs. FSNZX

Last updated Jun 24, 2026

FNSBX (Fidelity Freedom 2050 Fund Class K) and FSNZX (Fidelity Freedom 2045 Fund Class K) are both Target Retirement Date funds from Fidelity. Over the past 5 years, FNSBX returned 10.63%/yr vs 10.59%/yr for FSNZX. With a 1.00 correlation, they move nearly in lockstep. Both charge a 0.65% expense ratio.

Performance

FNSBX vs. FSNZX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Freedom 2050 Fund Class K (FNSBX) and Fidelity Freedom 2045 Fund Class K (FSNZX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with FNSBX having a 14.42% return and FSNZX slightly lower at 14.21%.

FNSBX

• 1D: -0.28%
• 1M: 3.00%
• YTD: 14.42%
• 6M: 13.84%
• 1Y: 30.90%
• 3Y*: 20.78%
• 5Y*: 10.63%
• 10Y*: —

FSNZX

• 1D: -0.29%
• 1M: 2.94%
• YTD: 14.21%
• 6M: 13.66%
• 1Y: 30.60%
• 3Y*: 20.71%
• 5Y*: 10.59%
• 10Y*: —

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

FNSBX vs. FSNZX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FNSBX Fidelity Freedom 2050 Fund Class K	14.42%	23.79%	14.17%	20.64%	-18.25%	16.67%	18.43%	25.49%	-8.83%	7.36%
FSNZX Fidelity Freedom 2045 Fund Class K	14.21%	23.75%	14.20%	20.66%	-18.25%	16.70%	18.36%	25.55%	-8.89%	7.39%

Correlation

The correlation between FNSBX and FSNZX is 1.00 - 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	1.00
Correlation (3Y) Calculated over the trailing 3-year period	1.00
Correlation (5Y) Calculated over the trailing 5-year period	1.00
Correlation (All Time) Calculated using the full available price history since Jul 25, 2017	1.00

The correlation between FNSBX and FSNZX has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.

Return for Risk

FNSBX vs. FSNZX — Risk / Return Rank

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

FNSBX

FNSBX Risk / Return Rank: 77
FNSBX Sharpe Ratio Rank: 78
FNSBX Sortino Ratio Rank: 73
FNSBX Omega Ratio Rank: 74
FNSBX Calmar Ratio Rank: 78
FNSBX Martin Ratio Rank: 84

FSNZX

FSNZX Risk / Return Rank: 77
FSNZX Sharpe Ratio Rank: 77
FSNZX Sortino Ratio Rank: 72
FSNZX Omega Ratio Rank: 74
FSNZX Calmar Ratio Rank: 78
FSNZX Martin Ratio Rank: 83

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.

FNSBX vs. FSNZX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Freedom 2050 Fund Class K (FNSBX) and Fidelity Freedom 2045 Fund Class K (FSNZX). 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.

	FNSBX	FSNZX	Difference
Sharpe ratio: Return per unit of total volatility	2.37	2.36	0.00
Sortino ratio: Return per unit of downside risk	3.23	3.23	0.00
Omega ratio: Gain probability vs. loss probability	1.44	1.44	0.00
Calmar ratio: Return relative to maximum drawdown	3.32	3.34	-0.02
Martin ratio: Return relative to average drawdown	14.48	14.46	+0.02

FNSBX vs. FSNZX - Sharpe Ratio Comparison

The current FNSBX Sharpe Ratio is 2.37, which is comparable to the FSNZX Sharpe Ratio of 2.36. The chart below compares the historical Sharpe Ratios of FNSBX and FSNZX, 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

FNSBX vs. FSNZX - Drawdown Comparison

The maximum FNSBX drawdown since its inception was -30.88%, roughly equal to the maximum FSNZX drawdown of -30.92%. Use the drawdown chart below to compare losses from any high point for FNSBX and FSNZX.

Drawdown Indicators

	FNSBX	FSNZX	Difference
Max Drawdown Largest peak-to-trough decline	-30.88%	-30.92%	+0.04%
Max Drawdown (1Y) Largest decline over 1 year	-9.66%	-9.53%	-0.13%
Max Drawdown (3Y) Largest decline over 3 years	-15.39%	-15.40%	+0.01%
Max Drawdown (5Y) Largest decline over 5 years	-27.28%	-27.30%	+0.02%
Current Drawdown Current decline from peak	-0.28%	-0.29%	+0.01%
Average Drawdown Average peak-to-trough decline	-5.57%	-5.57%	0.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.21%	2.19%	+0.02%

Volatility

FNSBX vs. FSNZX - Volatility Comparison

Fidelity Freedom 2050 Fund Class K (FNSBX) and Fidelity Freedom 2045 Fund Class K (FSNZX) have volatilities of 5.58% and 5.50%, 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.

Volatility by Period

	FNSBX	FSNZX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.58%	5.50%	+0.08%
Volatility (6M) Calculated over the trailing 6-month period	11.52%	11.39%	+0.13%
Volatility (1Y) Calculated over the trailing 1-year period	13.60%	13.49%	+0.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.18%	15.16%	+0.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.01%	16.00%	+0.01%

FNSBX vs. FSNZX - Expense Ratio Comparison

Both FNSBX and FSNZX have an expense ratio of 0.65%.

Dividends

FNSBX vs. FSNZX - Dividend Comparison

FNSBX's dividend yield for the trailing twelve months is around 5.24%, less than FSNZX's 5.77% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FNSBX Fidelity Freedom 2050 Fund Class K	5.24%	4.15%	2.13%	1.92%	11.92%	11.83%	4.99%	6.57%	7.80%	2.86%
FSNZX Fidelity Freedom 2045 Fund Class K	5.77%	4.41%	2.26%	1.99%	12.13%	12.05%	5.08%	6.60%	7.94%	2.87%

Frequently Asked Questions

Can I hold both FNSBX and FSNZX in my portfolio?

With a correlation of 1.00, FNSBX and FSNZX 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, FNSBX or FSNZX?

FNSBX has higher volatility (5.58%) compared to FSNZX (5.50%). In terms of maximum drawdown, FNSBX dropped -30.88% vs FSNZX's -30.92%.

Which has better risk-adjusted returns?

FNSBX currently has the higher Sharpe Ratio (2.37 vs 2.36), 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.