FSNVX vs. FRAMX
Compare and contrast key facts about Fidelity Freedom 2040 Fund Class K (FSNVX) and Fidelity Advisor Managed Retirement Income Fund Class A (FRAMX).
FSNVX is managed by Fidelity. It was launched on Jul 20, 2017. FRAMX is managed by BlackRock. It was launched on Aug 30, 2007.
Performance
FSNVX vs. FRAMX - Performance Comparison
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FSNVX vs. FRAMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FSNVX Fidelity Freedom 2040 Fund Class K | -2.91% | 22.12% | 16.08% | 20.08% | -18.17% | 16.62% | 18.44% | 25.49% | -8.87% | 7.42% |
FRAMX Fidelity Advisor Managed Retirement Income Fund Class A | -0.57% | 9.55% | 4.04% | 7.80% | -11.87% | 2.52% | 8.30% | 10.28% | -2.05% | 2.59% |
Returns By Period
In the year-to-date period, FSNVX achieves a -2.91% return, which is significantly lower than FRAMX's -0.57% return.
FSNVX
- 1D
- -0.23%
- 1M
- -8.26%
- YTD
- -2.91%
- 6M
- 0.35%
- 1Y
- 18.25%
- 3Y*
- 15.60%
- 5Y*
- 8.33%
- 10Y*
- —
FRAMX
- 1D
- 0.26%
- 1M
- -3.20%
- YTD
- -0.57%
- 6M
- 0.62%
- 1Y
- 6.78%
- 3Y*
- 5.66%
- 5Y*
- 2.13%
- 10Y*
- 3.65%
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FSNVX vs. FRAMX - Expense Ratio Comparison
FSNVX has a 0.65% expense ratio, which is lower than FRAMX's 0.70% expense ratio.
Return for Risk
FSNVX vs. FRAMX — Risk / Return Rank
FSNVX
FRAMX
FSNVX vs. FRAMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fidelity Freedom 2040 Fund Class K (FSNVX) and Fidelity Advisor Managed Retirement Income Fund Class A (FRAMX). 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.
| FSNVX | FRAMX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.26 | 1.50 | -0.24 |
Sortino ratioReturn per unit of downside risk | 1.80 | 2.09 | -0.29 |
Omega ratioGain probability vs. loss probability | 1.27 | 1.30 | -0.03 |
Calmar ratioReturn relative to maximum drawdown | 1.52 | 2.00 | -0.48 |
Martin ratioReturn relative to average drawdown | 6.95 | 8.06 | -1.11 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FSNVX | FRAMX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.26 | 1.50 | -0.24 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.59 | 0.41 | +0.18 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.82 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.64 | 0.49 | +0.15 |
Correlation
The correlation between FSNVX and FRAMX is 0.75, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
FSNVX vs. FRAMX - Dividend Comparison
FSNVX's dividend yield for the trailing twelve months is around 5.23%, more than FRAMX's 2.91% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSNVX Fidelity Freedom 2040 Fund Class K | 5.23% | 5.08% | 5.22% | 1.85% | 12.39% | 12.13% | 5.74% | 6.76% | 8.06% | 3.10% | 0.00% | 0.00% |
FRAMX Fidelity Advisor Managed Retirement Income Fund Class A | 2.91% | 2.77% | 2.77% | 2.58% | 4.26% | 3.31% | 2.23% | 2.37% | 4.40% | 8.26% | 1.42% | 1.42% |
Drawdowns
FSNVX vs. FRAMX - Drawdown Comparison
The maximum FSNVX drawdown since its inception was -30.96%, smaller than the maximum FRAMX drawdown of -33.94%. Use the drawdown chart below to compare losses from any high point for FSNVX and FRAMX.
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Drawdown Indicators
| FSNVX | FRAMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.96% | -33.94% | +2.98% |
Max Drawdown (1Y)Largest decline over 1 year | -10.33% | -3.45% | -6.88% |
Max Drawdown (5Y)Largest decline over 5 years | -27.21% | -16.31% | -10.90% |
Max Drawdown (10Y)Largest decline over 10 years | — | -16.31% | — |
Current DrawdownCurrent decline from peak | -8.71% | -3.20% | -5.51% |
Average DrawdownAverage peak-to-trough decline | -5.67% | -3.87% | -1.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.34% | 0.86% | +1.48% |
Volatility
FSNVX vs. FRAMX - Volatility Comparison
Fidelity Freedom 2040 Fund Class K (FSNVX) has a higher volatility of 5.11% compared to Fidelity Advisor Managed Retirement Income Fund Class A (FRAMX) at 1.96%. This indicates that FSNVX's price experiences larger fluctuations and is considered to be riskier than FRAMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FSNVX | FRAMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.11% | 1.96% | +3.15% |
Volatility (6M)Calculated over the trailing 6-month period | 8.52% | 2.86% | +5.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.43% | 4.59% | +9.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.25% | 5.21% | +9.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.66% | 4.47% | +11.19% |