FSNOX vs. FSHBX

Last updated Apr 2, 2026

Compare and contrast key facts about Fidelity Freedom 2020 Fund Class K (FSNOX) and Fidelity Short-Term Bond Fund (FSHBX).

FSNOX is managed by Fidelity. It was launched on Jul 20, 2017. FSHBX is managed by Fidelity. It was launched on Sep 15, 1986.

Performance

FSNOX vs. FSHBX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Freedom 2020 Fund Class K (FSNOX) and Fidelity Short-Term Bond Fund (FSHBX). The values are adjusted to include any dividend payments, if applicable.

FSNOX vs. FSHBX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FSNOX Fidelity Freedom 2020 Fund Class K	0.13%	14.92%	11.17%	13.00%	-16.04%	9.09%	13.64%	18.14%	-5.26%	5.18%
FSHBX Fidelity Short-Term Bond Fund	-0.08%	5.49%	4.73%	5.35%	-3.86%	-0.92%	3.59%	4.20%	1.21%	0.25%

Returns By Period

In the year-to-date period, FSNOX achieves a 0.13% return, which is significantly higher than FSHBX's -0.08% return.

FSNOX

• 1D: 1.45%
• 1M: -3.46%
• YTD: 0.13%
• 6M: 2.00%
• 1Y: 12.79%
• 3Y*: 11.13%
• 5Y*: 5.13%
• 10Y*: —

FSHBX

• 1D: 0.12%
• 1M: -0.70%
• YTD: -0.08%
• 6M: 0.93%
• 1Y: 3.58%
• 3Y*: 4.63%
• 5Y*: 2.17%
• 10Y*: 2.10%

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

FSNOX vs. FSHBX - Expense Ratio Comparison

FSNOX has a 0.51% expense ratio, which is higher than FSHBX's 0.45% expense ratio.

FSNOX

Fidelity Freedom 2020 Fund Class K

FSHBX

Fidelity Short-Term Bond Fund

Return for Risk

FSNOX vs. FSHBX — Risk / Return Rank

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

FSNOX

FSNOX Risk / Return Rank: 82
FSNOX Sharpe Ratio Rank: 81
FSNOX Sortino Ratio Rank: 82
FSNOX Omega Ratio Rank: 81
FSNOX Calmar Ratio Rank: 80
FSNOX Martin Ratio Rank: 82

FSHBX

FSHBX Risk / Return Rank: 93
FSHBX Sharpe Ratio Rank: 88
FSHBX Sortino Ratio Rank: 95
FSHBX Omega Ratio Rank: 91
FSHBX Calmar Ratio Rank: 95
FSHBX Martin Ratio Rank: 95

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.

FSNOX vs. FSHBX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Freedom 2020 Fund Class K (FSNOX) and Fidelity Short-Term Bond Fund (FSHBX). 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.

	FSNOX	FSHBX	Difference
Sharpe ratio Return per unit of total volatility	1.57	1.81	-0.24
Sortino ratio Return per unit of downside risk	2.21	3.13	-0.92
Omega ratio Gain probability vs. loss probability	1.33	1.42	-0.09
Calmar ratio Return relative to maximum drawdown	2.05	3.48	-1.43
Martin ratio Return relative to average drawdown	8.75	13.53	-4.78
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FSNOX vs. FSHBX - Sharpe Ratio Comparison

The current FSNOX Sharpe Ratio is 1.57, which is comparable to the FSHBX Sharpe Ratio of 1.81. The chart below compares the historical Sharpe Ratios of FSNOX and FSHBX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FSNOX	FSHBX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.57	1.81	-0.24
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.58	1.00	-0.42
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.14	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.73	1.49	-0.76

Correlation

The correlation between FSNOX and FSHBX is 0.17, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

FSNOX vs. FSHBX - Dividend Comparison

FSNOX's dividend yield for the trailing twelve months is around 7.39%, more than FSHBX's 3.88% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSNOX Fidelity Freedom 2020 Fund Class K	7.39%	7.40%	8.22%	2.76%	9.87%	12.11%	6.81%	6.60%	7.16%	3.14%	0.00%	0.00%
FSHBX Fidelity Short-Term Bond Fund	3.88%	4.26%	4.00%	3.00%	0.83%	1.04%	2.62%	2.13%	1.78%	1.27%	1.12%	0.88%

Drawdowns

FSNOX vs. FSHBX - Drawdown Comparison

The maximum FSNOX drawdown since its inception was -22.49%, which is greater than FSHBX's maximum drawdown of -8.80%. Use the drawdown chart below to compare losses from any high point for FSNOX and FSHBX.

Drawdown Indicators

	FSNOX	FSHBX	Difference
Max Drawdown Largest peak-to-trough decline	-22.49%	-8.80%	-13.69%
Max Drawdown (1Y) Largest decline over 1 year	-6.19%	-1.17%	-5.02%
Max Drawdown (5Y) Largest decline over 5 years	-22.49%	-6.36%	-16.13%
Max Drawdown (10Y) Largest decline over 10 years	—	-6.51%	—
Current Drawdown Current decline from peak	-4.00%	-0.82%	-3.18%
Average Drawdown Average peak-to-trough decline	-4.56%	-1.05%	-3.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.45%	0.30%	+1.15%

Volatility

FSNOX vs. FSHBX - Volatility Comparison

Fidelity Freedom 2020 Fund Class K (FSNOX) has a higher volatility of 3.61% compared to Fidelity Short-Term Bond Fund (FSHBX) at 0.60%. This indicates that FSNOX's price experiences larger fluctuations and is considered to be riskier than FSHBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSNOX	FSHBX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.61%	0.60%	+3.01%
Volatility (6M) Calculated over the trailing 6-month period	5.15%	1.32%	+3.83%
Volatility (1Y) Calculated over the trailing 1-year period	8.46%	2.07%	+6.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.97%	2.18%	+6.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.34%	1.84%	+7.50%