FPIFX vs. EIVPX
FPIFX (Fidelity Freedom Index 2020 Fund Investor Class) and EIVPX (Parametric Volatility Risk Premium - Defensive Fund) are both mutual funds - FPIFX is a Target Retirement Date fund managed by Fidelity, while EIVPX is a Options Trading fund managed by Eaton Vance. Over the past 5 years, FPIFX returned 4.31%/yr vs 9.52%/yr for EIVPX. Their correlation of 0.87 means they have usually moved in the same direction. FPIFX charges 0.12%/yr vs 0.47%/yr for EIVPX.
Performance
FPIFX vs. EIVPX - Performance Comparison
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Returns By Period
In the year-to-date period, FPIFX achieves a 4.86% return, which is significantly lower than EIVPX's 6.16% return.
FPIFX
- 1D
- 0.92%
- 1M
- -0.57%
- 6M
- 3.32%
- YTD
- 4.86%
- 1Y
- 11.09%
- 3Y*
- 9.67%
- 5Y*
- 4.31%
- 10Y*
- 6.84%
- ALL TIME*
- 6.83%
EIVPX
- 1D
- 0.97%
- 1M
- 0.06%
- 6M
- 4.96%
- YTD
- 6.16%
- 1Y
- 14.86%
- 3Y*
- 12.68%
- 5Y*
- 9.52%
- 10Y*
- —
- ALL TIME*
- 8.94%
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 |
FPIFX vs. EIVPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FPIFX Fidelity Freedom Index 2020 Fund Investor Class | 4.86% | 13.34% | 7.68% | 12.73% | -15.94% | 8.42% | 12.72% | 18.11% | -3.85% | 10.61% |
EIVPX Parametric Volatility Risk Premium - Defensive Fund | 6.16% | 12.90% | 16.45% | 16.83% | -8.64% | 17.96% | 4.74% | 15.46% | -2.80% | 8.71% |
Correlation
The correlation between FPIFX and EIVPX is 0.87, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.87 |
Correlation (3Y) Balances recent behavior with more history. | 0.82 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.84 |
Correlation (All Time) Calculated using the full available price history since Feb 15, 2017 | 0.87 |
The correlation between FPIFX and EIVPX has been stable across timeframes, ranging from 0.82 to 0.87 - a consistent structural relationship.
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Return for Risk
FPIFX vs. EIVPX — Risk / Return Rank
FPIFX
EIVPX
FPIFX vs. EIVPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Freedom Index 2020 Fund Investor Class (FPIFX) and Parametric Volatility Risk Premium - Defensive Fund (EIVPX). 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.
| FPIFX | EIVPX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.35 | ||
| Sortino ratioReturn per unit of downside risk | -0.40 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.38 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 2.12 | 3.60 | -1.48 |
| Martin ratioReturn relative to average drawdown | 8.74 | 17.09 | -8.35 |
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Drawdowns
FPIFX vs. EIVPX - Drawdown Comparison
The maximum FPIFX drawdown since its inception was -21.59%, smaller than the maximum EIVPX drawdown of -26.67%. Use the drawdown chart below to compare losses from any high point for FPIFX and EIVPX.
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Drawdown Indicators
| FPIFX | EIVPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.59% | -26.67% | +5.08% |
Max Drawdown (1Y)Largest decline over 1 year | -5.11% | -3.81% | -1.30% |
Max Drawdown (3Y)Largest decline over 3 years | -6.88% | -12.77% | +5.89% |
Max Drawdown (5Y)Largest decline over 5 years | -21.59% | -14.07% | -7.52% |
Max Drawdown (10Y)Largest decline over 10 years | -21.59% | — | — |
Current DrawdownCurrent decline from peak | -1.29% | -0.67% | -0.62% |
Average DrawdownAverage peak-to-trough decline | -3.06% | -2.43% | -0.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.23% | 0.80% | +0.43% |
Volatility
FPIFX vs. EIVPX - Volatility Comparison
Fidelity Freedom Index 2020 Fund Investor Class (FPIFX) and Parametric Volatility Risk Premium - Defensive Fund (EIVPX) have volatilities of 2.00% and 1.95%, 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
| FPIFX | EIVPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.00% | 1.95% | +0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 5.78% | 5.48% | +0.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.86% | 7.13% | -0.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.64% | 9.87% | -1.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.80% | 11.76% | -2.96% |
FPIFX vs. EIVPX - Expense Ratio Comparison
FPIFX has a 0.12% expense ratio, which is lower than EIVPX's 0.47% expense ratio.
Dividends
FPIFX vs. EIVPX - Dividend Comparison
FPIFX's dividend yield for the trailing twelve months is around 5.86%, more than EIVPX's 3.78% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EIVPX Parametric Volatility Risk Premium - Defensive Fund | 3.78% | 4.01% | 2.67% | 5.09% | 7.95% | 1.22% | 0.75% | 1.23% | 1.24% | 0.53% | 0.00% | 0.00% |
FPIFX Fidelity Freedom Index 2020 Fund Investor Class | 5.86% | 5.95% | 5.83% | 2.42% | 2.95% | 2.67% | 2.54% | 17.42% | 2.50% | 1.85% | 1.83% | 1.91% |
Frequently Asked Questions
FPIFX and EIVPX have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FPIFX has higher volatility (2.00%) compared to EIVPX (1.95%). In terms of maximum drawdown, FPIFX dropped -21.59% vs EIVPX's -26.67%.
EIVPX currently has the higher Sharpe Ratio (1.93 vs 1.58), 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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