FSNZX vs. VTIVX

Last updated Apr 1, 2026

Compare and contrast key facts about Fidelity Freedom 2045 Fund Class K (FSNZX) and Vanguard Target Retirement 2045 Fund (VTIVX).

FSNZX is managed by Fidelity. It was launched on Jul 20, 2017. VTIVX is managed by Vanguard. It was launched on Oct 27, 2003.

Performance

FSNZX vs. VTIVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Freedom 2045 Fund Class K (FSNZX) and Vanguard Target Retirement 2045 Fund (VTIVX). The values are adjusted to include any dividend payments, if applicable.

FSNZX vs. VTIVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FSNZX Fidelity Freedom 2045 Fund Class K	-3.27%	23.75%	14.20%	20.66%	-18.25%	16.70%	18.36%	25.55%	-8.89%	7.39%
VTIVX Vanguard Target Retirement 2045 Fund	-3.63%	20.01%	13.68%	19.72%	-17.38%	16.16%	16.31%	24.94%	-7.89%	5.63%

Returns By Period

In the year-to-date period, FSNZX achieves a -3.27% return, which is significantly higher than VTIVX's -3.63% return.

FSNZX

• 1D: -0.26%
• 1M: -8.94%
• YTD: -3.27%
• 6M: 0.31%
• 1Y: 19.70%
• 3Y*: 15.46%
• 5Y*: 8.26%
• 10Y*: —

VTIVX

• 1D: -0.24%
• 1M: -7.90%
• YTD: -3.63%
• 6M: -0.85%
• 1Y: 16.12%
• 3Y*: 13.91%
• 5Y*: 7.66%
• 10Y*: 10.04%

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

FSNZX vs. VTIVX - Expense Ratio Comparison

FSNZX has a 0.65% expense ratio, which is higher than VTIVX's 0.08% expense ratio.

FSNZX

Fidelity Freedom 2045 Fund Class K

VTIVX

Vanguard Target Retirement 2045 Fund

Return for Risk

FSNZX vs. VTIVX — Risk / Return Rank

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

FSNZX

FSNZX Risk / Return Rank: 70
FSNZX Sharpe Ratio Rank: 71
FSNZX Sortino Ratio Rank: 72
FSNZX Omega Ratio Rank: 71
FSNZX Calmar Ratio Rank: 65
FSNZX Martin Ratio Rank: 72

VTIVX

VTIVX Risk / Return Rank: 70
VTIVX Sharpe Ratio Rank: 70
VTIVX Sortino Ratio Rank: 71
VTIVX Omega Ratio Rank: 69
VTIVX Calmar Ratio Rank: 67
VTIVX Martin Ratio Rank: 73

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.

FSNZX vs. VTIVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Freedom 2045 Fund Class K (FSNZX) and Vanguard Target Retirement 2045 Fund (VTIVX). 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.

	FSNZX	VTIVX	Difference
Sharpe ratio Return per unit of total volatility	1.23	1.20	+0.04
Sortino ratio Return per unit of downside risk	1.77	1.72	+0.04
Omega ratio Gain probability vs. loss probability	1.26	1.25	+0.01
Calmar ratio Return relative to maximum drawdown	1.48	1.50	-0.02
Martin ratio Return relative to average drawdown	6.81	6.90	-0.10
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FSNZX vs. VTIVX - Sharpe Ratio Comparison

The current FSNZX Sharpe Ratio is 1.23, which is comparable to the VTIVX Sharpe Ratio of 1.20. The chart below compares the historical Sharpe Ratios of FSNZX and VTIVX, 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

	FSNZX	VTIVX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.23	1.20	+0.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.56	0.57	-0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.68	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.63	0.51	+0.12

Correlation

The correlation between FSNZX and VTIVX is 0.98, 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

FSNZX vs. VTIVX - Dividend Comparison

FSNZX's dividend yield for the trailing twelve months is around 4.56%, more than VTIVX's 2.59% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSNZX Fidelity Freedom 2045 Fund Class K	4.56%	4.41%	2.26%	1.99%	12.13%	12.05%	5.08%	6.60%	7.94%	2.87%	0.00%	0.00%
VTIVX Vanguard Target Retirement 2045 Fund	2.59%	2.50%	2.36%	2.27%	2.75%	15.40%	1.90%	2.23%	2.52%	0.04%	2.47%	3.29%

Drawdowns

FSNZX vs. VTIVX - Drawdown Comparison

The maximum FSNZX drawdown since its inception was -30.92%, smaller than the maximum VTIVX drawdown of -51.69%. Use the drawdown chart below to compare losses from any high point for FSNZX and VTIVX.

Drawdown Indicators

	FSNZX	VTIVX	Difference
Max Drawdown Largest peak-to-trough decline	-30.92%	-51.69%	+20.77%
Max Drawdown (1Y) Largest decline over 1 year	-11.23%	-9.73%	-1.50%
Max Drawdown (5Y) Largest decline over 5 years	-27.30%	-25.10%	-2.20%
Max Drawdown (10Y) Largest decline over 10 years	—	-31.42%	—
Current Drawdown Current decline from peak	-9.53%	-8.30%	-1.23%
Average Drawdown Average peak-to-trough decline	-5.69%	-6.37%	+0.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.56%	2.12%	+0.44%

Volatility

FSNZX vs. VTIVX - Volatility Comparison

Fidelity Freedom 2045 Fund Class K (FSNZX) has a higher volatility of 5.52% compared to Vanguard Target Retirement 2045 Fund (VTIVX) at 4.36%. This indicates that FSNZX's price experiences larger fluctuations and is considered to be riskier than VTIVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSNZX	VTIVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.52%	4.36%	+1.16%
Volatility (6M) Calculated over the trailing 6-month period	9.38%	7.85%	+1.53%
Volatility (1Y) Calculated over the trailing 1-year period	15.91%	13.55%	+2.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.84%	13.41%	+1.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.95%	14.75%	+1.20%