JRLVX vs. FHALX

Last updated Jun 24, 2026

JRLVX (John Hancock Funds Multi-Index 2045 Lifetime Portfolio) and FHALX (Fidelity Advisor Freedom Blend Income Fund Class M) are both Target Retirement Date funds. Over the past 5 years, JRLVX returned 9.42%/yr vs 2.49%/yr for FHALX. A 0.71 correlation means they provide meaningful diversification when combined. JRLVX charges 0.01%/yr vs 0.91%/yr for FHALX.

Performance

JRLVX vs. FHALX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in John Hancock Funds Multi-Index 2045 Lifetime Portfolio (JRLVX) and Fidelity Advisor Freedom Blend Income Fund Class M (FHALX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JRLVX achieves a 11.84% return, which is significantly higher than FHALX's 4.62% return.

JRLVX

• 1D: -0.05%
• 1M: 1.78%
• YTD: 11.84%
• 6M: 11.18%
• 1Y: 26.10%
• 3Y*: 18.43%
• 5Y*: 9.42%
• 10Y*: 11.66%

FHALX

• 1D: -0.18%
• 1M: 1.03%
• YTD: 4.62%
• 6M: 4.52%
• 1Y: 9.99%
• 3Y*: 7.24%
• 5Y*: 2.49%
• 10Y*: —

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

JRLVX vs. FHALX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
JRLVX John Hancock Funds Multi-Index 2045 Lifetime Portfolio	11.84%	19.25%	14.50%	18.00%	-18.06%	18.45%	16.23%	25.03%	-12.02%
FHALX Fidelity Advisor Freedom Blend Income Fund Class M	4.62%	9.49%	3.68%	7.55%	-12.14%	2.21%	8.11%	9.86%	-2.25%

Correlation

The correlation between JRLVX and FHALX is 0.87, 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	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.72
Correlation (All Time) Calculated using the full available price history since Aug 31, 2018	0.71

The correlation between JRLVX and FHALX shifts across timeframes, from 0.71 (all time) to 0.87 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

JRLVX vs. FHALX — Risk / Return Rank

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

JRLVX

JRLVX Risk / Return Rank: 72
JRLVX Sharpe Ratio Rank: 72
JRLVX Sortino Ratio Rank: 66
JRLVX Omega Ratio Rank: 68
JRLVX Calmar Ratio Rank: 74
JRLVX Martin Ratio Rank: 80

FHALX

FHALX Risk / Return Rank: 65
FHALX Sharpe Ratio Rank: 62
FHALX Sortino Ratio Rank: 66
FHALX Omega Ratio Rank: 73
FHALX Calmar Ratio Rank: 59
FHALX Martin Ratio Rank: 65

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.

JRLVX vs. FHALX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for John Hancock Funds Multi-Index 2045 Lifetime Portfolio (JRLVX) and Fidelity Advisor Freedom Blend Income Fund Class M (FHALX). 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.

	JRLVX	FHALX	Difference
Sharpe ratio: Return per unit of total volatility	2.27	2.13	+0.14
Sortino ratio: Return per unit of downside risk	3.10	3.08	+0.03
Omega ratio: Gain probability vs. loss probability	1.42	1.44	-0.02
Calmar ratio: Return relative to maximum drawdown	3.19	2.82	+0.37
Martin ratio: Return relative to average drawdown	13.84	11.87	+1.98

JRLVX vs. FHALX - Sharpe Ratio Comparison

The current JRLVX Sharpe Ratio is 2.27, which is comparable to the FHALX Sharpe Ratio of 2.13. The chart below compares the historical Sharpe Ratios of JRLVX and FHALX, 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

JRLVX vs. FHALX - Drawdown Comparison

The maximum JRLVX drawdown since its inception was -32.53%, which is greater than FHALX's maximum drawdown of -16.56%. Use the drawdown chart below to compare losses from any high point for JRLVX and FHALX.

Drawdown Indicators

	JRLVX	FHALX	Difference
Max Drawdown Largest peak-to-trough decline	-32.53%	-16.56%	-15.97%
Max Drawdown (1Y) Largest decline over 1 year	-8.50%	-3.67%	-4.83%
Max Drawdown (3Y) Largest decline over 3 years	-15.27%	-5.18%	-10.09%
Max Drawdown (5Y) Largest decline over 5 years	-25.64%	-16.56%	-9.08%
Max Drawdown (10Y) Largest decline over 10 years	-32.53%	—	—
Current Drawdown Current decline from peak	-0.43%	-0.18%	-0.25%
Average Drawdown Average peak-to-trough decline	-4.54%	-3.57%	-0.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.96%	0.87%	+1.09%

Volatility

JRLVX vs. FHALX - Volatility Comparison

John Hancock Funds Multi-Index 2045 Lifetime Portfolio (JRLVX) has a higher volatility of 4.71% compared to Fidelity Advisor Freedom Blend Income Fund Class M (FHALX) at 2.19%. This indicates that JRLVX's price experiences larger fluctuations and is considered to be riskier than FHALX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JRLVX	FHALX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.71%	2.19%	+2.52%
Volatility (6M) Calculated over the trailing 6-month period	9.85%	4.22%	+5.63%
Volatility (1Y) Calculated over the trailing 1-year period	11.98%	4.88%	+7.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.88%	5.43%	+9.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.03%	5.01%	+11.02%

JRLVX vs. FHALX - Expense Ratio Comparison

JRLVX has a 0.01% expense ratio, which is lower than FHALX's 0.91% expense ratio.

Dividends

JRLVX vs. FHALX - Dividend Comparison

JRLVX's dividend yield for the trailing twelve months is around 3.18%, more than FHALX's 2.45% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FHALX Fidelity Advisor Freedom Blend Income Fund Class M	2.45%	2.69%	2.49%	2.37%	4.09%	3.60%	2.07%	1.91%	1.30%	0.00%	0.00%	0.00%
JRLVX John Hancock Funds Multi-Index 2045 Lifetime Portfolio	3.18%	3.55%	1.89%	2.24%	8.03%	6.00%	4.26%	8.99%	10.96%	4.29%	3.40%	1.90%

Frequently Asked Questions

Can I hold both JRLVX and FHALX in my portfolio?

JRLVX and FHALX have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JRLVX or FHALX?

JRLVX has higher volatility (4.71%) compared to FHALX (2.19%). In terms of maximum drawdown, JRLVX dropped -32.53% vs FHALX's -16.56%.

Which has better risk-adjusted returns?

JRLVX currently has the higher Sharpe Ratio (2.27 vs 2.13), 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.