FPIFX vs. VWENX
FPIFX (Fidelity Freedom Index 2020 Fund Investor Class) and VWENX (Vanguard Wellington Fund Admiral Shares) are both mutual funds - FPIFX is a Target Retirement Date fund managed by Fidelity, while VWENX is a Diversified Portfolio fund actively managed by Vanguard. Over the past 10 years, FPIFX returned 6.84%/yr vs 9.78%/yr for VWENX. Their correlation of 0.93 means they have usually moved in the same direction. FPIFX charges 0.12%/yr vs 0.16%/yr for VWENX.
Performance
FPIFX vs. VWENX - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with FPIFX having a 4.86% return and VWENX slightly higher at 4.93%. Over the past 10 years, FPIFX has underperformed VWENX with an annualized return of 6.84%, while VWENX has yielded a comparatively higher 9.78% annualized 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%
VWENX
- 1D
- 1.46%
- 1M
- -1.14%
- 6M
- 4.11%
- YTD
- 4.93%
- 1Y
- 13.75%
- 3Y*
- 13.55%
- 5Y*
- 7.79%
- 10Y*
- 9.78%
- ALL TIME*
- 8.03%
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. VWENX - 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% | 13.90% |
VWENX Vanguard Wellington Fund Admiral Shares | 4.93% | 16.63% | 14.82% | 14.40% | -14.31% | 19.09% | 10.66% | 22.61% | -3.35% | 14.05% |
Correlation
The correlation between FPIFX and VWENX is 0.92, 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. | 0.92 |
Correlation (3Y) Balances recent behavior with more history. | 0.90 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.92 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.92 |
Correlation (All Time) Calculated using the full available price history since Oct 5, 2009 | 0.93 |
The correlation between FPIFX and VWENX has been stable across timeframes, ranging from 0.90 to 0.93 - a consistent structural relationship.
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Return for Risk
FPIFX vs. VWENX — Risk / Return Rank
FPIFX
VWENX
FPIFX vs. VWENX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Freedom Index 2020 Fund Investor Class (FPIFX) and Vanguard Wellington Fund Admiral Shares (VWENX). 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 | VWENX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.20 | ||
| Sortino ratioReturn per unit of downside risk | +0.31 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.25 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.12 | 1.90 | +0.22 |
| Martin ratioReturn relative to average drawdown | 8.74 | 8.02 | +0.71 |
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Drawdowns
FPIFX vs. VWENX - Drawdown Comparison
The maximum FPIFX drawdown since its inception was -21.59%, smaller than the maximum VWENX drawdown of -36.02%. Use the drawdown chart below to compare losses from any high point for FPIFX and VWENX.
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Drawdown Indicators
| FPIFX | VWENX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.59% | -36.02% | +14.43% |
Max Drawdown (1Y)Largest decline over 1 year | -5.11% | -6.77% | +1.66% |
Max Drawdown (3Y)Largest decline over 3 years | -6.88% | -11.98% | +5.10% |
Max Drawdown (5Y)Largest decline over 5 years | -21.59% | -20.84% | -0.75% |
Max Drawdown (10Y)Largest decline over 10 years | -21.59% | -25.33% | +3.74% |
Current DrawdownCurrent decline from peak | -1.29% | -2.08% | +0.79% |
Average DrawdownAverage peak-to-trough decline | -3.06% | -4.34% | +1.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.23% | 1.60% | -0.37% |
Volatility
FPIFX vs. VWENX - Volatility Comparison
The current volatility for Fidelity Freedom Index 2020 Fund Investor Class (FPIFX) is 2.00%, while Vanguard Wellington Fund Admiral Shares (VWENX) has a volatility of 2.84%. This indicates that FPIFX experiences smaller price fluctuations and is considered to be less risky than VWENX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FPIFX | VWENX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.00% | 2.84% | -0.84% |
Volatility (6M)Calculated over the trailing 6-month period | 5.78% | 7.61% | -1.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.86% | 9.33% | -2.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.64% | 11.26% | -2.62% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.80% | 11.55% | -2.75% |
FPIFX vs. VWENX - Expense Ratio Comparison
FPIFX has a 0.12% expense ratio, which is lower than VWENX's 0.16% expense ratio. Despite the difference, 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. VWENX - Dividend Comparison
FPIFX's dividend yield for the trailing twelve months is around 5.86%, less than VWENX's 11.11% 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% |
VWENX Vanguard Wellington Fund Admiral Shares | 11.11% | 11.55% | 10.85% | 6.08% | 8.28% | 8.72% | 7.85% | 4.74% | 9.58% | 5.88% | 4.53% | 6.58% |
Frequently Asked Questions
With a correlation of 0.92, FPIFX and VWENX 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.
VWENX has higher volatility (2.84%) compared to FPIFX (2.00%). In terms of maximum drawdown, FPIFX dropped -21.59% vs VWENX's -36.02%.
FPIFX currently has the higher Sharpe Ratio (1.58 vs 1.38), 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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