FPIFX vs. IRTR
FPIFX (Fidelity Freedom Index 2020 Fund Investor Class) and IRTR (iShares LifePath Retirement ETF) are both Target Retirement Date funds. Over the past year, FPIFX returned 12.49% vs 11.93% for IRTR. With a 0.96 correlation, they move nearly in lockstep. FPIFX charges 0.12%/yr vs 0.08%/yr for IRTR.
Performance
FPIFX vs. IRTR - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with FPIFX having a 4.91% return and IRTR slightly lower at 4.77%.
FPIFX
- 1D
- -0.79%
- 1M
- 0.23%
- YTD
- 4.91%
- 6M
- 4.48%
- 1Y
- 12.49%
- 3Y*
- 10.58%
- 5Y*
- 4.52%
- 10Y*
- 7.31%
IRTR
- 1D
- 0.21%
- 1M
- 0.46%
- YTD
- 4.77%
- 6M
- 4.37%
- 1Y
- 11.93%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FPIFX vs. IRTR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
FPIFX Fidelity Freedom Index 2020 Fund Investor Class | 4.91% | 13.34% | 7.68% | 9.93% |
IRTR iShares LifePath Retirement ETF | 4.77% | 12.70% | 7.59% | 11.03% |
Correlation
The correlation between FPIFX and IRTR is 0.97 - 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 | 0.97 |
Correlation (All Time) Calculated using the full available price history since Oct 19, 2023 | 0.96 |
The correlation between FPIFX and IRTR has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.
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Return for Risk
FPIFX vs. IRTR — Risk / Return Rank
FPIFX
IRTR
FPIFX vs. IRTR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Freedom Index 2020 Fund Investor Class (FPIFX) and iShares LifePath Retirement ETF (IRTR). 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 | IRTR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.08 | ||
| Sortino ratioReturn per unit of downside risk | +0.10 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.36 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.61 | 2.49 | +0.12 |
| Martin ratioReturn relative to average drawdown | 11.20 | 10.74 | +0.46 |
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Drawdowns
FPIFX vs. IRTR - Drawdown Comparison
The maximum FPIFX drawdown since its inception was -21.59%, which is greater than IRTR's maximum drawdown of -6.29%. Use the drawdown chart below to compare losses from any high point for FPIFX and IRTR.
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Drawdown Indicators
| FPIFX | IRTR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.59% | -6.29% | -15.30% |
Max Drawdown (1Y)Largest decline over 1 year | -5.11% | -4.82% | -0.29% |
Max Drawdown (3Y)Largest decline over 3 years | -7.84% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -21.59% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -21.59% | — | — |
Current DrawdownCurrent decline from peak | -1.24% | -0.76% | -0.48% |
Average DrawdownAverage peak-to-trough decline | -3.08% | -0.78% | -2.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.19% | 1.11% | +0.08% |
Volatility
FPIFX vs. IRTR - Volatility Comparison
Fidelity Freedom Index 2020 Fund Investor Class (FPIFX) has a higher volatility of 2.82% compared to iShares LifePath Retirement ETF (IRTR) at 2.52%. This indicates that FPIFX's price experiences larger fluctuations and is considered to be riskier than IRTR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FPIFX | IRTR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.82% | 2.52% | +0.30% |
Volatility (6M)Calculated over the trailing 6-month period | 5.61% | 5.30% | +0.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.72% | 6.33% | +0.39% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.62% | 7.11% | +1.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.81% | 7.11% | +1.70% |
FPIFX vs. IRTR - Expense Ratio Comparison
FPIFX has a 0.12% expense ratio, which is higher than IRTR's 0.08% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
FPIFX vs. IRTR - Dividend Comparison
FPIFX's dividend yield for the trailing twelve months is around 5.86%, more than IRTR's 3.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
IRTR iShares LifePath Retirement ETF | 3.01% | 3.03% | 3.03% | 0.85% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.97, FPIFX and IRTR 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.
FPIFX has higher volatility (2.82%) compared to IRTR (2.52%). In terms of maximum drawdown, FPIFX dropped -21.59% vs IRTR's -6.29%.
FPIFX currently has the higher Sharpe Ratio (1.98 vs 1.90), 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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