FRQIX vs. FFFAX
FRQIX (Fidelity Advisor Managed Retirement 2010 Fund Class I) and FFFAX (Fidelity Freedom Income Fund) are both Target Retirement Date funds. Over the past 10 years, FRQIX returned 4.98%/yr vs 4.57%/yr for FFFAX. Their correlation of 0.92 suggests significant overlap in exposure. FRQIX charges 0.46%/yr vs 0.47%/yr for FFFAX.
Performance
FRQIX vs. FFFAX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, FRQIX achieves a 3.60% return, which is significantly lower than FFFAX's 5.09% return. Over the past 10 years, FRQIX has outperformed FFFAX with an annualized return of 4.98%, while FFFAX has yielded a comparatively lower 4.57% annualized return.
FRQIX
- 1D
- 0.00%
- 1M
- 0.65%
- YTD
- 3.60%
- 6M
- 3.74%
- 1Y
- 9.41%
- 3Y*
- 7.28%
- 5Y*
- 2.83%
- 10Y*
- 4.98%
FFFAX
- 1D
- 0.60%
- 1M
- 1.33%
- YTD
- 5.09%
- 6M
- 5.22%
- 1Y
- 11.22%
- 3Y*
- 7.89%
- 5Y*
- 3.29%
- 10Y*
- 4.57%
FRQIX vs. FFFAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FRQIX Fidelity Advisor Managed Retirement 2010 Fund Class I | 3.60% | 9.97% | 4.48% | 8.52% | -12.39% | 3.82% | 9.58% | 12.63% | -2.84% | 10.64% |
FFFAX Fidelity Freedom Income Fund | 5.09% | 10.42% | 4.34% | 8.18% | -11.33% | 3.12% | 8.93% | 10.74% | -1.99% | 8.21% |
Correlation
The correlation between FRQIX and FFFAX is 0.96 - 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 | 0.96 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.98 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.98 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.95 |
Correlation (All Time) Calculated using the full available price history since Aug 30, 2007 | 0.92 |
The correlation between FRQIX and FFFAX has been stable across timeframes, ranging from 0.92 to 0.98 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
FRQIX vs. FFFAX — Risk / Return Rank
FRQIX
FFFAX
FRQIX vs. FFFAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Advisor Managed Retirement 2010 Fund Class I (FRQIX) and Fidelity Freedom Income Fund (FFFAX). 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.
| FRQIX | FFFAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.10 | ||
| Sortino ratioReturn per unit of downside risk | -0.13 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.47 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.75 | 3.06 | -0.32 |
| Martin ratioReturn relative to average drawdown | 11.51 | 13.16 | -1.65 |
Loading charts...
Drawdowns
FRQIX vs. FFFAX - Drawdown Comparison
The maximum FRQIX drawdown since its inception was -38.01%, which is greater than FFFAX's maximum drawdown of -17.96%. Use the drawdown chart below to compare losses from any high point for FRQIX and FFFAX.
Loading charts...
Drawdown Indicators
| FRQIX | FFFAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.01% | -17.96% | -20.05% |
Max Drawdown (1Y)Largest decline over 1 year | -3.43% | -3.68% | +0.25% |
Max Drawdown (3Y)Largest decline over 3 years | -5.21% | -4.91% | -0.30% |
Max Drawdown (5Y)Largest decline over 5 years | -17.04% | -15.87% | -1.17% |
Max Drawdown (10Y)Largest decline over 10 years | -17.04% | -15.87% | -1.17% |
Current DrawdownCurrent decline from peak | -0.42% | -0.00% | -0.42% |
Average DrawdownAverage peak-to-trough decline | -4.42% | -1.79% | -2.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.82% | 0.85% | -0.03% |
Volatility
FRQIX vs. FFFAX - Volatility Comparison
The current volatility for Fidelity Advisor Managed Retirement 2010 Fund Class I (FRQIX) is 1.78%, while Fidelity Freedom Income Fund (FFFAX) has a volatility of 2.35%. This indicates that FRQIX experiences smaller price fluctuations and is considered to be less risky than FFFAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| FRQIX | FFFAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.78% | 2.35% | -0.57% |
Volatility (6M)Calculated over the trailing 6-month period | 3.68% | 4.35% | -0.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.35% | 4.97% | -0.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.60% | 5.45% | +0.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.34% | 4.68% | +0.66% |
FRQIX vs. FFFAX - Expense Ratio Comparison
FRQIX has a 0.46% expense ratio, which is lower than FFFAX's 0.47% expense ratio.
Dividends
FRQIX vs. FFFAX - Dividend Comparison
FRQIX's dividend yield for the trailing twelve months is around 3.22%, more than FFFAX's 2.94% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FFFAX Fidelity Freedom Income Fund | 2.94% | 3.29% | 3.13% | 2.92% | 5.89% | 6.12% | 4.37% | 3.65% | 5.17% | 3.74% | 3.21% | 3.28% |
FRQIX Fidelity Advisor Managed Retirement 2010 Fund Class I | 3.22% | 3.14% | 2.97% | 2.75% | 5.01% | 6.00% | 3.51% | 3.14% | 5.60% | 16.32% | 2.43% | 4.08% |
Frequently Asked Questions
With a correlation of 0.96, FRQIX and FFFAX 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.
FFFAX has higher volatility (2.35%) compared to FRQIX (1.78%). In terms of maximum drawdown, FRQIX dropped -38.01% vs FFFAX's -17.96%.
FFFAX currently has the higher Sharpe Ratio (2.27 vs 2.16), 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.
Find the right allocation for FRQIX and FFFAX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer