LEKIX vs. FXAIX

Last updated Jun 3, 2026

LEKIX (BlackRock LifePath ESG Index 2040 Fund) and FXAIX (Fidelity 500 Index Fund) are both mutual funds - LEKIX is a Target Retirement Date fund managed by BlackRock, while FXAIX is a S&P 500 fund tracking the S&P 500 Index. Over the past 5 years, LEKIX returned 7.33%/yr vs 14.17%/yr for FXAIX. Their correlation of 0.94 suggests significant overlap in exposure. LEKIX charges 0.06%/yr vs 0.02%/yr for FXAIX.

Performance

LEKIX vs. FXAIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock LifePath ESG Index 2040 Fund (LEKIX) and Fidelity 500 Index Fund (FXAIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LEKIX achieves a 9.56% return, which is significantly lower than FXAIX's 11.56% return.

LEKIX

• 1D: 0.19%
• 1M: 3.48%
• YTD: 9.56%
• 6M: 10.52%
• 1Y: 22.90%
• 3Y*: 14.83%
• 5Y*: 7.33%
• 10Y*: —

FXAIX

• 1D: 0.27%
• 1M: 5.24%
• YTD: 11.56%
• 6M: 11.94%
• 1Y: 29.57%
• 3Y*: 22.70%
• 5Y*: 14.17%
• 10Y*: 15.65%

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

LEKIX vs. FXAIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
LEKIX BlackRock LifePath ESG Index 2040 Fund	9.56%	17.47%	7.45%	18.96%	-17.72%	16.89%	12.05%
FXAIX Fidelity 500 Index Fund	11.56%	17.84%	25.01%	26.29%	-18.14%	28.71%	11.47%

Correlation

The correlation between LEKIX and FXAIX 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 (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (All Time) Calculated using the full available price history since Aug 19, 2020	0.94

The correlation between LEKIX and FXAIX has been stable across timeframes, ranging from 0.92 to 0.94 - a consistent structural relationship.

Return for Risk

LEKIX vs. FXAIX — Risk / Return Rank

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

LEKIX

LEKIX Risk / Return Rank: 66
LEKIX Sharpe Ratio Rank: 68
LEKIX Sortino Ratio Rank: 67
LEKIX Omega Ratio Rank: 63
LEKIX Calmar Ratio Rank: 63
LEKIX Martin Ratio Rank: 71

FXAIX

FXAIX Risk / Return Rank: 75
FXAIX Sharpe Ratio Rank: 77
FXAIX Sortino Ratio Rank: 69
FXAIX Omega Ratio Rank: 69
FXAIX Calmar Ratio Rank: 74
FXAIX Martin Ratio Rank: 84

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.

LEKIX vs. FXAIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock LifePath ESG Index 2040 Fund (LEKIX) and Fidelity 500 Index Fund (FXAIX). 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.

	LEKIX	FXAIX	Difference
Sharpe ratio Return per unit of total volatility	2.41	2.55	-0.14
Sortino ratio Return per unit of downside risk	3.41	3.46	-0.05
Omega ratio Gain probability vs. loss probability	1.44	1.46	-0.02
Calmar ratio Return relative to maximum drawdown	3.06	3.39	-0.33
Martin ratio Return relative to average drawdown	13.54	15.86	-2.32
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LEKIX vs. FXAIX - Sharpe Ratio Comparison

The current LEKIX Sharpe Ratio is 2.41, which is comparable to the FXAIX Sharpe Ratio of 2.55. The chart below compares the historical Sharpe Ratios of LEKIX and FXAIX, 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

	LEKIX	FXAIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.41	2.55	-0.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.55	0.84	-0.29
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.87	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.79	0.82	-0.03

Drawdowns

LEKIX vs. FXAIX - Drawdown Comparison

The maximum LEKIX drawdown since its inception was -25.28%, smaller than the maximum FXAIX drawdown of -33.79%. Use the drawdown chart below to compare losses from any high point for LEKIX and FXAIX.

Drawdown Indicators

	LEKIX	FXAIX	Difference
Max Drawdown Largest peak-to-trough decline	-25.28%	-33.79%	+8.51%
Max Drawdown (1Y) Largest decline over 1 year	-7.64%	-8.89%	+1.25%
Max Drawdown (3Y) Largest decline over 3 years	-16.24%	-18.76%	+2.52%
Max Drawdown (5Y) Largest decline over 5 years	-25.28%	-24.50%	-0.78%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.79%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-5.66%	-3.79%	-1.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.73%	1.90%	-0.17%

Volatility

LEKIX vs. FXAIX - Volatility Comparison

BlackRock LifePath ESG Index 2040 Fund (LEKIX) has a higher volatility of 3.06% compared to Fidelity 500 Index Fund (FXAIX) at 2.82%. This indicates that LEKIX's price experiences larger fluctuations and is considered to be riskier than FXAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LEKIX	FXAIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.06%	2.82%	+0.24%
Volatility (6M) Calculated over the trailing 6-month period	7.85%	8.99%	-1.14%
Volatility (1Y) Calculated over the trailing 1-year period	9.78%	11.88%	-2.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.28%	16.91%	-3.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.23%	18.07%	-4.84%

LEKIX vs. FXAIX - Expense Ratio Comparison

LEKIX has a 0.06% expense ratio, which is higher than FXAIX's 0.02% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

LEKIX vs. FXAIX - Dividend Comparison

LEKIX's dividend yield for the trailing twelve months is around 1.75%, more than FXAIX's 1.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FXAIX Fidelity 500 Index Fund	1.03%	1.11%	1.25%	1.45%	1.69%	1.22%	1.60%	2.06%	2.72%	1.97%	2.52%	2.83%
LEKIX BlackRock LifePath ESG Index 2040 Fund	1.75%	1.92%	0.00%	2.22%	2.08%	2.85%	0.84%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both LEKIX and FXAIX in my portfolio?

With a correlation of 0.93, LEKIX and FXAIX 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, LEKIX or FXAIX?

LEKIX has higher volatility (3.06%) compared to FXAIX (2.82%). In terms of maximum drawdown, LEKIX dropped -25.28% vs FXAIX's -33.79%.

Which has better risk-adjusted returns?

FXAIX currently has the higher Sharpe Ratio (2.55 vs 2.41), 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.