LFEDX vs. FFSFX

Last updated Jun 4, 2026

LFEDX (MFS Lifetime 2035 Fund) and FFSFX (Fidelity Freedom 2065 Fund) are both Target Retirement Date funds. Over the past 5 years, LFEDX returned 6.81%/yr vs 10.42%/yr for FFSFX. With a 0.96 correlation, they move nearly in lockstep. LFEDX charges 0.00%/yr vs 0.75%/yr for FFSFX.

Performance

LFEDX vs. FFSFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MFS Lifetime 2035 Fund (LFEDX) and Fidelity Freedom 2065 Fund (FFSFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LFEDX achieves a 6.56% return, which is significantly lower than FFSFX's 13.84% return.

LFEDX

• 1D: 0.26%
• 1M: 2.36%
• YTD: 6.56%
• 6M: 6.92%
• 1Y: 15.24%
• 3Y*: 13.18%
• 5Y*: 6.81%
• 10Y*: 9.56%

FFSFX

• 1D: 0.58%
• 1M: 5.11%
• YTD: 13.84%
• 6M: 15.69%
• 1Y: 31.32%
• 3Y*: 20.72%
• 5Y*: 10.42%
• 10Y*: —

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

LFEDX vs. FFSFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
LFEDX MFS Lifetime 2035 Fund	6.56%	13.17%	10.54%	14.88%	-14.86%	17.24%	12.82%	7.40%
FFSFX Fidelity Freedom 2065 Fund	13.84%	23.76%	14.01%	20.54%	-18.28%	16.54%	18.08%	9.00%

Correlation

The correlation between LFEDX and FFSFX is 0.94, 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	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (All Time) Calculated using the full available price history since Jul 1, 2019	0.96

The correlation between LFEDX and FFSFX has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.

Return for Risk

LFEDX vs. FFSFX — Risk / Return Rank

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

LFEDX

LFEDX Risk / Return Rank: 53
LFEDX Sharpe Ratio Rank: 54
LFEDX Sortino Ratio Rank: 55
LFEDX Omega Ratio Rank: 53
LFEDX Calmar Ratio Rank: 49
LFEDX Martin Ratio Rank: 56

FFSFX

FFSFX Risk / Return Rank: 71
FFSFX Sharpe Ratio Rank: 73
FFSFX Sortino Ratio Rank: 68
FFSFX Omega Ratio Rank: 68
FFSFX Calmar Ratio Rank: 70
FFSFX 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.

LFEDX vs. FFSFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MFS Lifetime 2035 Fund (LFEDX) and Fidelity Freedom 2065 Fund (FFSFX). 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.

	LFEDX	FFSFX	Difference
Sharpe ratio Return per unit of total volatility	2.16	2.48	-0.32
Sortino ratio Return per unit of downside risk	3.13	3.43	-0.30
Omega ratio Gain probability vs. loss probability	1.40	1.46	-0.06
Calmar ratio Return relative to maximum drawdown	2.66	3.24	-0.59
Martin ratio Return relative to average drawdown	11.33	14.44	-3.12
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LFEDX vs. FFSFX - Sharpe Ratio Comparison

The current LFEDX Sharpe Ratio is 2.16, which is comparable to the FFSFX Sharpe Ratio of 2.48. The chart below compares the historical Sharpe Ratios of LFEDX and FFSFX, 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

	LFEDX	FFSFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.16	2.48	-0.32
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.63	0.70	-0.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.76	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.76	0.78	-0.03

Drawdowns

LFEDX vs. FFSFX - Drawdown Comparison

The maximum LFEDX drawdown since its inception was -30.30%, roughly equal to the maximum FFSFX drawdown of -31.03%. Use the drawdown chart below to compare losses from any high point for LFEDX and FFSFX.

Drawdown Indicators

	LFEDX	FFSFX	Difference
Max Drawdown Largest peak-to-trough decline	-30.30%	-31.03%	+0.73%
Max Drawdown (1Y) Largest decline over 1 year	-5.88%	-9.79%	+3.91%
Max Drawdown (3Y) Largest decline over 3 years	-9.79%	-15.43%	+5.64%
Max Drawdown (5Y) Largest decline over 5 years	-21.31%	-27.31%	+6.00%
Max Drawdown (10Y) Largest decline over 10 years	-30.30%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-3.59%	-5.90%	+2.31%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.38%	2.19%	-0.81%

Volatility

LFEDX vs. FFSFX - Volatility Comparison

The current volatility for MFS Lifetime 2035 Fund (LFEDX) is 2.07%, while Fidelity Freedom 2065 Fund (FFSFX) has a volatility of 4.28%. This indicates that LFEDX experiences smaller price fluctuations and is considered to be less risky than FFSFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LFEDX	FFSFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.07%	4.28%	-2.21%
Volatility (6M) Calculated over the trailing 6-month period	5.68%	10.56%	-4.88%
Volatility (1Y) Calculated over the trailing 1-year period	7.22%	12.79%	-5.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.87%	15.03%	-4.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.58%	17.04%	-4.46%

LFEDX vs. FFSFX - Expense Ratio Comparison

LFEDX has a 0.00% expense ratio, which is lower than FFSFX's 0.75% expense ratio.

Dividends

LFEDX vs. FFSFX - Dividend Comparison

LFEDX's dividend yield for the trailing twelve months is around 7.50%, more than FFSFX's 4.91% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FFSFX Fidelity Freedom 2065 Fund	4.91%	3.69%	2.29%	2.01%	8.77%	7.81%	2.25%	1.40%	0.00%	0.00%	0.00%	0.00%
LFEDX MFS Lifetime 2035 Fund	7.50%	7.99%	5.52%	2.93%	6.62%	7.94%	2.69%	3.96%	4.38%	3.44%	3.83%	1.57%

Frequently Asked Questions

Can I hold both LFEDX and FFSFX in my portfolio?

With a correlation of 0.94, LFEDX and FFSFX 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, LFEDX or FFSFX?

FFSFX has higher volatility (4.28%) compared to LFEDX (2.07%). In terms of maximum drawdown, LFEDX dropped -30.30% vs FFSFX's -31.03%.

Which has better risk-adjusted returns?

FFSFX currently has the higher Sharpe Ratio (2.48 vs 2.16), 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.