FNSHX vs. SWYBX

Last updated Jun 26, 2026

FNSHX (Fidelity Freedom Income Fund Class K) and SWYBX (Schwab Target 2015 Index Fund) are both Target Retirement Date funds. Over the past 5 years, FNSHX returned 3.10%/yr vs 4.80%/yr for SWYBX. Their correlation of 0.85 suggests significant overlap in exposure. FNSHX charges 0.42%/yr vs 0.04%/yr for SWYBX.

Performance

FNSHX vs. SWYBX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Freedom Income Fund Class K (FNSHX) and Schwab Target 2015 Index Fund (SWYBX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with FNSHX having a 4.40% return and SWYBX slightly higher at 4.60%.

FNSHX

• 1D: 0.26%
• 1M: 0.04%
• YTD: 4.40%
• 6M: 4.25%
• 1Y: 9.60%
• 3Y*: 7.80%
• 5Y*: 3.10%
• 10Y*: —

SWYBX

• 1D: 0.21%
• 1M: -0.14%
• YTD: 4.60%
• 6M: 4.13%
• 1Y: 11.53%
• 3Y*: 10.18%
• 5Y*: 4.80%
• 10Y*: —

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

FNSHX vs. SWYBX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FNSHX Fidelity Freedom Income Fund Class K	4.40%	10.35%	4.40%	8.26%	-11.31%	3.16%	9.01%	10.74%	-1.86%	0.09%
SWYBX Schwab Target 2015 Index Fund	4.60%	11.88%	7.59%	12.68%	-13.59%	7.67%	10.93%	14.99%	-2.59%	3.56%

Correlation

The correlation between FNSHX and SWYBX 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	0.87
Correlation (All Time) Calculated using the full available price history since Jul 25, 2017	0.85

The correlation between FNSHX and SWYBX has been stable across timeframes, ranging from 0.85 to 0.93 - a consistent structural relationship.

Return for Risk

FNSHX vs. SWYBX — Risk / Return Rank

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

FNSHX

FNSHX Risk / Return Rank: 67
FNSHX Sharpe Ratio Rank: 64
FNSHX Sortino Ratio Rank: 66
FNSHX Omega Ratio Rank: 71
FNSHX Calmar Ratio Rank: 64
FNSHX Martin Ratio Rank: 70

SWYBX

SWYBX Risk / Return Rank: 66
SWYBX Sharpe Ratio Rank: 65
SWYBX Sortino Ratio Rank: 66
SWYBX Omega Ratio Rank: 66
SWYBX Calmar Ratio Rank: 60
SWYBX Martin Ratio Rank: 72

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.

FNSHX vs. SWYBX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Freedom Income Fund Class K (FNSHX) and Schwab Target 2015 Index Fund (SWYBX). 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.

	FNSHX	SWYBX	Difference
Sharpe ratio: Return per unit of total volatility	1.94	1.93	+0.01
Sortino ratio: Return per unit of downside risk	2.77	2.77	0.00
Omega ratio: Gain probability vs. loss probability	1.39	1.37	+0.02
Calmar ratio: Return relative to maximum drawdown	2.65	2.55	+0.11
Martin ratio: Return relative to average drawdown	11.34	11.30	+0.04

FNSHX vs. SWYBX - Sharpe Ratio Comparison

The current FNSHX Sharpe Ratio is 1.94, which is comparable to the SWYBX Sharpe Ratio of 1.93. The chart below compares the historical Sharpe Ratios of FNSHX and SWYBX, 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

FNSHX vs. SWYBX - Drawdown Comparison

The maximum FNSHX drawdown since its inception was -15.87%, smaller than the maximum SWYBX drawdown of -20.49%. Use the drawdown chart below to compare losses from any high point for FNSHX and SWYBX.

Drawdown Indicators

	FNSHX	SWYBX	Difference
Max Drawdown Largest peak-to-trough decline	-15.87%	-20.49%	+4.62%
Max Drawdown (1Y) Largest decline over 1 year	-3.68%	-4.48%	+0.80%
Max Drawdown (3Y) Largest decline over 3 years	-4.89%	-6.84%	+1.95%
Max Drawdown (5Y) Largest decline over 5 years	-15.87%	-20.49%	+4.62%
Current Drawdown Current decline from peak	-0.68%	-0.70%	+0.02%
Average Drawdown Average peak-to-trough decline	-3.02%	-3.44%	+0.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.86%	1.01%	-0.15%

Volatility

FNSHX vs. SWYBX - Volatility Comparison

Fidelity Freedom Income Fund Class K (FNSHX) and Schwab Target 2015 Index Fund (SWYBX) have volatilities of 2.39% and 2.31%, 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

	FNSHX	SWYBX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.39%	2.31%	+0.08%
Volatility (6M) Calculated over the trailing 6-month period	4.43%	4.88%	-0.45%
Volatility (1Y) Calculated over the trailing 1-year period	5.06%	5.95%	-0.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.44%	8.21%	-2.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.88%	7.84%	-2.96%

FNSHX vs. SWYBX - Expense Ratio Comparison

FNSHX has a 0.42% expense ratio, which is higher than SWYBX's 0.04% expense ratio.

Dividends

FNSHX vs. SWYBX - Dividend Comparison

FNSHX's dividend yield for the trailing twelve months is around 2.99%, less than SWYBX's 4.32% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FNSHX Fidelity Freedom Income Fund Class K	2.99%	3.21%	3.19%	2.98%	5.94%	6.17%	4.43%	3.74%	5.22%	0.00%	0.00%
SWYBX Schwab Target 2015 Index Fund	4.32%	4.52%	3.67%	2.38%	2.61%	2.74%	2.32%	2.23%	1.77%	1.44%	0.78%

Frequently Asked Questions

Can I hold both FNSHX and SWYBX in my portfolio?

With a correlation of 0.93, FNSHX and SWYBX 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, FNSHX or SWYBX?

FNSHX has higher volatility (2.39%) compared to SWYBX (2.31%). In terms of maximum drawdown, FNSHX dropped -15.87% vs SWYBX's -20.49%.

Which has better risk-adjusted returns?

FNSHX currently has the higher Sharpe Ratio (1.94 vs 1.93), 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.