FWLSX vs. FFSZX

Last updated Jun 4, 2026

FWLSX (Fidelity Flex Freedom Blend 2060 Fund) and FFSZX (Fidelity Freedom 2065 Fund Class K6) are both Target Retirement Date funds from Fidelity. Over the past 5 years, FWLSX returned 11.32%/yr vs 10.72%/yr for FFSZX. With a 0.99 correlation, they move nearly in lockstep. FWLSX charges 0.00%/yr vs 0.50%/yr for FFSZX.

Performance

FWLSX vs. FFSZX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Flex Freedom Blend 2060 Fund (FWLSX) and Fidelity Freedom 2065 Fund Class K6 (FFSZX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with FWLSX having a 14.17% return and FFSZX slightly lower at 13.95%.

FWLSX

• 1D: 0.65%
• 1M: 5.45%
• YTD: 14.17%
• 6M: 15.72%
• 1Y: 31.28%
• 3Y*: 22.00%
• 5Y*: 11.32%
• 10Y*: —

FFSZX

• 1D: 0.58%
• 1M: 5.16%
• YTD: 13.95%
• 6M: 15.89%
• 1Y: 31.60%
• 3Y*: 21.06%
• 5Y*: 10.72%
• 10Y*: —

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

FWLSX vs. FFSZX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FWLSX Fidelity Flex Freedom Blend 2060 Fund	14.17%	22.76%	17.95%	21.00%	-18.55%	16.88%	18.48%	9.09%
FFSZX Fidelity Freedom 2065 Fund Class K6	13.95%	24.08%	14.41%	20.78%	-18.05%	16.81%	18.36%	9.18%

Correlation

The correlation between FWLSX and FFSZX is 1.00 - 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	1.00
Correlation (3Y) Calculated over the trailing 3-year period	0.99
Correlation (5Y) Calculated over the trailing 5-year period	0.99
Correlation (All Time) Calculated using the full available price history since Jul 1, 2019	0.99

The correlation between FWLSX and FFSZX has been stable across timeframes, ranging from 0.99 to 1.00 - a consistent structural relationship.

Return for Risk

FWLSX vs. FFSZX — Risk / Return Rank

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

FWLSX

FWLSX Risk / Return Rank: 74
FWLSX Sharpe Ratio Rank: 76
FWLSX Sortino Ratio Rank: 70
FWLSX Omega Ratio Rank: 70
FWLSX Calmar Ratio Rank: 74
FWLSX Martin Ratio Rank: 79

FFSZX

FFSZX Risk / Return Rank: 73
FFSZX Sharpe Ratio Rank: 76
FFSZX Sortino Ratio Rank: 69
FFSZX Omega Ratio Rank: 70
FFSZX Calmar Ratio Rank: 71
FFSZX Martin Ratio Rank: 78

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.

FWLSX vs. FFSZX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Flex Freedom Blend 2060 Fund (FWLSX) and Fidelity Freedom 2065 Fund Class K6 (FFSZX). 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.

	FWLSX	FFSZX	Difference
Sharpe ratio: Return per unit of total volatility	2.53	2.52	+0.01
Sortino ratio: Return per unit of downside risk	3.49	3.46	+0.03
Omega ratio: Gain probability vs. loss probability	1.47	1.47	0.00
Calmar ratio: Return relative to maximum drawdown	3.36	3.29	+0.07
Martin ratio: Return relative to average drawdown	14.85	14.70	+0.15
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FWLSX vs. FFSZX - Sharpe Ratio Comparison

The current FWLSX Sharpe Ratio is 2.53, which is comparable to the FFSZX Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of FWLSX and FFSZX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FWLSX	FFSZX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.53	2.52	+0.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.75	0.72	+0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.78	0.80	-0.02

Drawdowns

FWLSX vs. FFSZX - Drawdown Comparison

The maximum FWLSX drawdown since its inception was -31.32%, roughly equal to the maximum FFSZX drawdown of -31.00%. Use the drawdown chart below to compare losses from any high point for FWLSX and FFSZX.

Drawdown Indicators

	FWLSX	FFSZX	Difference
Max Drawdown Largest peak-to-trough decline	-31.32%	-31.00%	-0.32%
Max Drawdown (1Y) Largest decline over 1 year	-9.49%	-9.77%	+0.28%
Max Drawdown (3Y) Largest decline over 3 years	-15.38%	-15.36%	-0.02%
Max Drawdown (5Y) Largest decline over 5 years	-27.40%	-27.17%	-0.23%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-5.43%	-5.81%	+0.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.14%	2.18%	-0.04%

Volatility

FWLSX vs. FFSZX - Volatility Comparison

Fidelity Flex Freedom Blend 2060 Fund (FWLSX) and Fidelity Freedom 2065 Fund Class K6 (FFSZX) have volatilities of 4.12% and 4.27%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FWLSX	FFSZX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.12%	4.27%	-0.15%
Volatility (6M) Calculated over the trailing 6-month period	10.31%	10.55%	-0.24%
Volatility (1Y) Calculated over the trailing 1-year period	12.59%	12.76%	-0.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.10%	15.02%	+0.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.06%	17.05%	-0.99%

FWLSX vs. FFSZX - Expense Ratio Comparison

FWLSX has a 0.00% expense ratio, which is lower than FFSZX's 0.50% expense ratio.

Dividends

FWLSX vs. FFSZX - Dividend Comparison

FWLSX's dividend yield for the trailing twelve months is around 4.02%, less than FFSZX's 5.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FFSZX Fidelity Freedom 2065 Fund Class K6	5.03%	3.82%	2.92%	2.26%	8.99%	7.98%	2.41%	1.47%	0.00%	0.00%
FWLSX Fidelity Flex Freedom Blend 2060 Fund	4.02%	3.14%	7.07%	2.36%	5.59%	9.05%	5.80%	7.02%	8.16%	3.09%

Frequently Asked Questions

Can I hold both FWLSX and FFSZX in my portfolio?

With a correlation of 1.00, FWLSX and FFSZX 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.

Which is riskier, FWLSX or FFSZX?

FFSZX has higher volatility (4.27%) compared to FWLSX (4.12%). In terms of maximum drawdown, FWLSX dropped -31.32% vs FFSZX's -31.00%.

Which has better risk-adjusted returns?

FWLSX currently has the higher Sharpe Ratio (2.53 vs 2.52), 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.