JRLPX vs. FRBEX

Last updated Jun 6, 2026

JRLPX (John Hancock Funds Multi-Index 2020 Lifetime Portfolio) and FRBEX (Fidelity Freedom 2070 Fund Class K) are both Target Retirement Date funds. Over the past year, JRLPX returned 14.71% vs 30.45% for FRBEX. Their correlation of 0.90 suggests significant overlap in exposure. JRLPX charges 0.41%/yr vs 0.65%/yr for FRBEX.

Performance

JRLPX vs. FRBEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in John Hancock Funds Multi-Index 2020 Lifetime Portfolio (JRLPX) and Fidelity Freedom 2070 Fund Class K (FRBEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JRLPX achieves a 6.17% return, which is significantly lower than FRBEX's 13.71% return.

JRLPX

• 1D: 0.24%
• 1M: 0.81%
• YTD: 6.17%
• 6M: 6.49%
• 1Y: 14.71%
• 3Y*: 10.78%
• 5Y*: 4.66%
• 10Y*: —

FRBEX

• 1D: 0.37%
• 1M: 1.74%
• YTD: 13.71%
• 6M: 15.20%
• 1Y: 30.45%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JRLPX vs. FRBEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
JRLPX John Hancock Funds Multi-Index 2020 Lifetime Portfolio	6.17%	12.16%	3.02%
FRBEX Fidelity Freedom 2070 Fund Class K	13.71%	23.38%	3.52%

Correlation

The correlation between JRLPX and FRBEX is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.93
Correlation (All Time) Calculated using the full available price history since Jul 5, 2024	0.90

The correlation between JRLPX and FRBEX has been stable across timeframes, ranging from 0.90 to 0.93 - a consistent structural relationship.

Return for Risk

JRLPX vs. FRBEX — Risk / Return Rank

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

JRLPX

JRLPX Risk / Return Rank: 76
JRLPX Sharpe Ratio Rank: 78
JRLPX Sortino Ratio Rank: 78
JRLPX Omega Ratio Rank: 78
JRLPX Calmar Ratio Rank: 69
JRLPX Martin Ratio Rank: 75

FRBEX

FRBEX Risk / Return Rank: 71
FRBEX Sharpe Ratio Rank: 71
FRBEX Sortino Ratio Rank: 67
FRBEX Omega Ratio Rank: 69
FRBEX Calmar Ratio Rank: 70
FRBEX Martin Ratio Rank: 77

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.

JRLPX vs. FRBEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for John Hancock Funds Multi-Index 2020 Lifetime Portfolio (JRLPX) and Fidelity Freedom 2070 Fund Class K (FRBEX). 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.

	JRLPX	FRBEX	Difference
Sharpe ratio: Return per unit of total volatility	2.51	2.40	+0.11
Sortino ratio: Return per unit of downside risk	3.63	3.32	+0.32
Omega ratio: Gain probability vs. loss probability	1.49	1.45	+0.05
Calmar ratio: Return relative to maximum drawdown	3.09	3.14	-0.05
Martin ratio: Return relative to average drawdown	13.70	13.92	-0.22
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JRLPX vs. FRBEX - Sharpe Ratio Comparison

The current JRLPX Sharpe Ratio is 2.51, which is comparable to the FRBEX Sharpe Ratio of 2.40. The chart below compares the historical Sharpe Ratios of JRLPX and FRBEX, 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

	JRLPX	FRBEX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.51	2.40	+0.11
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.54	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	1.39	-0.86

Drawdowns

JRLPX vs. FRBEX - Drawdown Comparison

The maximum JRLPX drawdown since its inception was -22.88%, which is greater than FRBEX's maximum drawdown of -15.31%. Use the drawdown chart below to compare losses from any high point for JRLPX and FRBEX.

Drawdown Indicators

	JRLPX	FRBEX	Difference
Max Drawdown Largest peak-to-trough decline	-22.88%	-15.31%	-7.57%
Max Drawdown (1Y) Largest decline over 1 year	-4.71%	-9.79%	+5.08%
Max Drawdown (3Y) Largest decline over 3 years	-7.75%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-20.09%	—	—
Current Drawdown Current decline from peak	-0.16%	-0.15%	-0.01%
Average Drawdown Average peak-to-trough decline	-4.46%	-1.78%	-2.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.06%	2.20%	-1.14%

Volatility

JRLPX vs. FRBEX - Volatility Comparison

The current volatility for John Hancock Funds Multi-Index 2020 Lifetime Portfolio (JRLPX) is 1.97%, while Fidelity Freedom 2070 Fund Class K (FRBEX) has a volatility of 4.27%. This indicates that JRLPX experiences smaller price fluctuations and is considered to be less risky than FRBEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JRLPX	FRBEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.97%	4.27%	-2.30%
Volatility (6M) Calculated over the trailing 6-month period	4.75%	10.55%	-5.80%
Volatility (1Y) Calculated over the trailing 1-year period	5.81%	12.80%	-6.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.60%	15.80%	-7.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.26%	15.80%	-5.54%

JRLPX vs. FRBEX - Expense Ratio Comparison

JRLPX has a 0.41% expense ratio, which is lower than FRBEX's 0.65% expense ratio.

Dividends

JRLPX vs. FRBEX - Dividend Comparison

JRLPX's dividend yield for the trailing twelve months is around 3.13%, less than FRBEX's 4.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
FRBEX Fidelity Freedom 2070 Fund Class K	4.12%	2.38%	2.40%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
JRLPX John Hancock Funds Multi-Index 2020 Lifetime Portfolio	3.13%	3.32%	3.02%	2.97%	5.06%	6.89%	5.31%	6.47%	8.52%

Frequently Asked Questions

Can I hold both JRLPX and FRBEX in my portfolio?

With a correlation of 0.93, JRLPX and FRBEX 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, JRLPX or FRBEX?

FRBEX has higher volatility (4.27%) compared to JRLPX (1.97%). In terms of maximum drawdown, JRLPX dropped -22.88% vs FRBEX's -15.31%.

Which has better risk-adjusted returns?

JRLPX currently has the higher Sharpe Ratio (2.51 vs 2.40), 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.