FTLSX vs. MURLX

Last updated Aug 4, 2026

FTLSX (Fidelity Flex Freedom Blend Income Fund) and MURLX (Mutual of America 2040 Retirement Fund) are both Target Retirement Date funds. Over the past 5 years, FTLSX returned 3.00%/yr vs 7.35%/yr for MURLX. Their 0.61 correlation means they have sometimes moved together and sometimes differently. FTLSX charges 0.00%/yr vs 0.08%/yr for MURLX.

Performance

FTLSX vs. MURLX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Flex Freedom Blend Income Fund (FTLSX) and Mutual of America 2040 Retirement Fund (MURLX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FTLSX achieves a 4.00% return, which is significantly lower than MURLX's 8.54% return.

FTLSX

• 1D: 0.00%
• 1M: -0.67%
• 6M: 2.69%
• YTD: 4.00%
• 1Y: 8.24%
• 3Y*: 7.64%
• 5Y*: 3.00%
• 10Y*: —
• ALL TIME*: 4.37%

MURLX

• 1D: 0.12%
• 1M: 0.06%
• 6M: 5.43%
• YTD: 8.54%
• 1Y: 17.90%
• 3Y*: 13.71%
• 5Y*: 7.35%
• 10Y*: —
• ALL TIME*: 52.51%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FTLSX Fidelity Flex Freedom Blend Income Fund	$0.00	$0.00	$0.00
MURLX Mutual of America 2040 Retirement Fund	$0.00	$0.00	$0.00

FTLSX vs. MURLX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
FTLSX Fidelity Flex Freedom Blend Income Fund	4.00%	10.31%	4.72%	8.60%	-11.33%	3.30%	9.04%
MURLX Mutual of America 2040 Retirement Fund	8.54%	17.01%	13.28%	14.86%	-15.95%	16.84%	889.04%

Correlation

The correlation between FTLSX and MURLX is 0.77, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.77
Correlation (3Y) Balances recent behavior with more history.	0.71
Correlation (5Y) Shows whether the relationship held over a longer period.	0.62
Correlation (All Time) Calculated using the full available price history since Jan 2, 2020	0.61

The correlation between FTLSX and MURLX shifts across timeframes, from 0.61 (all time) to 0.77 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

FTLSX vs. MURLX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FTLSX

FTLSX Risk / Return Rank: 69
FTLSX Sharpe Ratio Rank: 66
FTLSX Sortino Ratio Rank: 67
FTLSX Omega Ratio Rank: 72
FTLSX Calmar Ratio Rank: 68
FTLSX Martin Ratio Rank: 72

MURLX

MURLX Risk / Return Rank: 71
MURLX Sharpe Ratio Rank: 67
MURLX Sortino Ratio Rank: 71
MURLX Omega Ratio Rank: 64
MURLX Calmar Ratio Rank: 71
MURLX Martin Ratio Rank: 84

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FTLSX vs. MURLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Flex Freedom Blend Income Fund (FTLSX) and Mutual of America 2040 Retirement Fund (MURLX). 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.

	FTLSX	MURLX	Difference
Sharpe ratio: Return per unit of total volatility	1.67	1.69	-0.02
Sortino ratio: Return per unit of downside risk	2.41	2.54	-0.12
Omega ratio: Gain probability vs. loss probability	1.33	1.31	+0.02
Calmar ratio: Return relative to maximum drawdown	2.35	2.44	-0.09
Martin ratio: Return relative to average drawdown	9.47	11.11	-1.64

FTLSX vs. MURLX - Sharpe Ratio Comparison

The current FTLSX Sharpe Ratio is 1.67, which is comparable to the MURLX Sharpe Ratio of 1.69. The chart below compares the historical Sharpe Ratios of FTLSX and MURLX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FTLSX vs. MURLX - Drawdown Comparison

The maximum FTLSX drawdown since its inception was -15.74%, smaller than the maximum MURLX drawdown of -31.54%. Use the drawdown chart below to compare losses from any high point for FTLSX and MURLX.

Drawdown Indicators

	FTLSX	MURLX	Difference
Max Drawdown Largest peak-to-trough decline	-15.74%	-31.54%	+15.80%
Max Drawdown (1Y) Largest decline over 1 year	-3.65%	-7.75%	+4.10%
Max Drawdown (3Y) Largest decline over 3 years	-3.96%	-13.69%	+9.73%
Max Drawdown (5Y) Largest decline over 5 years	-15.74%	-23.06%	+7.32%
Current Drawdown Current decline from peak	-1.23%	-0.54%	-0.69%
Average Drawdown Average peak-to-trough decline	-2.78%	-5.28%	+2.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.90%	1.63%	-0.73%

Volatility

FTLSX vs. MURLX - Volatility Comparison

The current volatility for Fidelity Flex Freedom Blend Income Fund (FTLSX) is 1.68%, while Mutual of America 2040 Retirement Fund (MURLX) has a volatility of 2.88%. This indicates that FTLSX experiences smaller price fluctuations and is considered to be less risky than MURLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FTLSX	MURLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.68%	2.88%	-1.20%
Volatility (6M) Calculated over the trailing 6-month period	4.55%	8.57%	-4.02%
Volatility (1Y) Calculated over the trailing 1-year period	5.16%	11.21%	-6.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.56%	16.01%	-10.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.82%	376.68%	-371.86%

FTLSX vs. MURLX - Expense Ratio Comparison

FTLSX has a 0.00% expense ratio, which is lower than MURLX's 0.08% 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

FTLSX vs. MURLX - Dividend Comparison

FTLSX's dividend yield for the trailing twelve months is around 3.05%, less than MURLX's 8.06% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FTLSX Fidelity Flex Freedom Blend Income Fund	3.05%	3.68%	3.37%	3.19%	5.28%	4.91%	3.06%	4.44%	4.26%	1.97%
MURLX Mutual of America 2040 Retirement Fund	8.06%	8.62%	8.02%	3.04%	11.39%	4.17%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both FTLSX and MURLX in my portfolio?

FTLSX and MURLX have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FTLSX or MURLX?

MURLX has higher volatility (2.88%) compared to FTLSX (1.68%). In terms of maximum drawdown, FTLSX dropped -15.74% vs MURLX's -31.54%.

Which has better risk-adjusted returns?

MURLX currently has the higher Sharpe Ratio (1.69 vs 1.67), 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.