LPWRX vs. FDFPX
LPWRX (BlackRock LifePath Dynamic 2065 Fund) and FDFPX (Fidelity Flex Freedom Blend 2065 Fund) are both Target Retirement Date funds. Over the past 5 years, LPWRX returned 8.55%/yr vs 10.66%/yr for FDFPX. Their correlation of 0.95 means they have usually moved in the same direction. LPWRX charges 0.93%/yr vs 0.00%/yr for FDFPX.
Performance
LPWRX vs. FDFPX - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with LPWRX having a 11.74% return and FDFPX slightly higher at 12.26%.
LPWRX
- 1D
- 2.72%
- 1M
- 0.23%
- 6M
- 8.13%
- YTD
- 11.74%
- 1Y
- 23.69%
- 3Y*
- 15.02%
- 5Y*
- 8.55%
- 10Y*
- —
- ALL TIME*
- 11.18%
FDFPX
- 1D
- 2.29%
- 1M
- -0.99%
- 6M
- 8.37%
- YTD
- 12.26%
- 1Y
- 24.70%
- 3Y*
- 18.92%
- 5Y*
- 10.66%
- 10Y*
- —
- ALL TIME*
- 13.27%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
LPWRX vs. FDFPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
LPWRX BlackRock LifePath Dynamic 2065 Fund | 11.74% | 20.43% | 8.99% | 22.14% | -18.94% | 17.84% | 13.47% | 5.28% |
FDFPX Fidelity Flex Freedom Blend 2065 Fund | 12.26% | 22.81% | 17.81% | 20.93% | -18.57% | 16.84% | 18.54% | 6.50% |
Correlation
The correlation between LPWRX and FDFPX is 0.98 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.98 |
Correlation (3Y) Balances recent behavior with more history. | 0.94 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.95 |
Correlation (All Time) Calculated using the full available price history since Oct 30, 2019 | 0.95 |
The correlation between LPWRX and FDFPX has been stable across timeframes, ranging from 0.94 to 0.98 - a consistent structural relationship.
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Return for Risk
LPWRX vs. FDFPX — Risk / Return Rank
LPWRX
FDFPX
LPWRX vs. FDFPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock LifePath Dynamic 2065 Fund (LPWRX) and Fidelity Flex Freedom Blend 2065 Fund (FDFPX). 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.
| LPWRX | FDFPX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.21 | ||
| Sortino ratioReturn per unit of downside risk | -0.27 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.30 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.18 | 2.40 | -0.22 |
| Martin ratioReturn relative to average drawdown | 8.91 | 10.04 | -1.13 |
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Drawdowns
LPWRX vs. FDFPX - Drawdown Comparison
The maximum LPWRX drawdown since its inception was -33.27%, which is greater than FDFPX's maximum drawdown of -31.22%. Use the drawdown chart below to compare losses from any high point for LPWRX and FDFPX.
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Drawdown Indicators
| LPWRX | FDFPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.27% | -31.22% | -2.05% |
Max Drawdown (1Y)Largest decline over 1 year | -10.07% | -9.54% | -0.53% |
Max Drawdown (3Y)Largest decline over 3 years | -21.36% | -15.42% | -5.94% |
Max Drawdown (5Y)Largest decline over 5 years | -27.28% | -27.41% | +0.13% |
Current DrawdownCurrent decline from peak | -1.79% | -2.19% | +0.40% |
Average DrawdownAverage peak-to-trough decline | -6.34% | -5.76% | -0.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.46% | 2.28% | +0.18% |
Volatility
LPWRX vs. FDFPX - Volatility Comparison
BlackRock LifePath Dynamic 2065 Fund (LPWRX) has a higher volatility of 4.64% compared to Fidelity Flex Freedom Blend 2065 Fund (FDFPX) at 4.37%. This indicates that LPWRX's price experiences larger fluctuations and is considered to be riskier than FDFPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LPWRX | FDFPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.64% | 4.37% | +0.27% |
Volatility (6M)Calculated over the trailing 6-month period | 13.20% | 12.20% | +1.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.69% | 14.21% | +1.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.20% | 15.34% | +1.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.61% | 17.21% | +1.40% |
LPWRX vs. FDFPX - Expense Ratio Comparison
LPWRX has a 0.93% expense ratio, which is higher than FDFPX's 0.00% expense ratio.
Dividends
LPWRX vs. FDFPX - Dividend Comparison
LPWRX's dividend yield for the trailing twelve months is around 2.04%, less than FDFPX's 3.81% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
FDFPX Fidelity Flex Freedom Blend 2065 Fund | 3.81% | 2.87% | 6.56% | 2.22% | 5.41% | 8.52% | 5.38% | 3.19% |
LPWRX BlackRock LifePath Dynamic 2065 Fund | 2.04% | 2.26% | 1.00% | 2.07% | 2.35% | 9.34% | 1.00% | 0.55% |
Frequently Asked Questions
With a correlation of 0.98, LPWRX and FDFPX 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.
LPWRX has higher volatility (4.64%) compared to FDFPX (4.37%). In terms of maximum drawdown, LPWRX dropped -33.27% vs FDFPX's -31.22%.
FDFPX currently has the higher Sharpe Ratio (1.61 vs 1.40), 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.
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