LTMKX vs. FRBHX

Last updated Jun 20, 2026

LTMKX (MFS Lifetime 2045 Fund) and FRBHX (Fidelity Freedom® 2070 Fund Class K6) are both Target Retirement Date funds. Over the past year, LTMKX returned 20.12% vs 32.53% for FRBHX. Their correlation of 0.94 suggests significant overlap in exposure. LTMKX charges 0.00%/yr vs 0.45%/yr for FRBHX.

Performance

LTMKX vs. FRBHX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MFS Lifetime 2045 Fund (LTMKX) and Fidelity Freedom® 2070 Fund Class K6 (FRBHX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LTMKX achieves a 9.83% return, which is significantly lower than FRBHX's 15.02% return.

LTMKX

• 1D: 0.66%
• 1M: 2.06%
• YTD: 9.83%
• 6M: 10.05%
• 1Y: 20.12%
• 3Y*: 15.26%
• 5Y*: 8.92%
• 10Y*: 11.08%

FRBHX

• 1D: 1.54%
• 1M: 3.36%
• YTD: 15.02%
• 6M: 15.79%
• 1Y: 32.53%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

LTMKX vs. FRBHX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
LTMKX MFS Lifetime 2045 Fund	9.83%	15.70%	4.36%
FRBHX Fidelity Freedom® 2070 Fund Class K6	15.02%	23.65%	3.64%

Correlation

The correlation between LTMKX and FRBHX is 0.95, 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	0.95
Correlation (All Time) Calculated using the full available price history since Jul 3, 2024	0.94

The correlation between LTMKX and FRBHX has been stable across timeframes, ranging from 0.94 to 0.95 - a consistent structural relationship.

Return for Risk

LTMKX vs. FRBHX — Risk / Return Rank

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

LTMKX

LTMKX Risk / Return Rank: 52
LTMKX Sharpe Ratio Rank: 52
LTMKX Sortino Ratio Rank: 51
LTMKX Omega Ratio Rank: 51
LTMKX Calmar Ratio Rank: 49
LTMKX Martin Ratio Rank: 58

FRBHX

FRBHX Risk / Return Rank: 78
FRBHX Sharpe Ratio Rank: 79
FRBHX Sortino Ratio Rank: 73
FRBHX Omega Ratio Rank: 74
FRBHX Calmar Ratio Rank: 79
FRBHX 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.

LTMKX vs. FRBHX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MFS Lifetime 2045 Fund (LTMKX) and Fidelity Freedom® 2070 Fund Class K6 (FRBHX). 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.

	LTMKX	FRBHX	Difference
Sharpe ratio: Return per unit of total volatility	1.94	2.35	-0.42
Sortino ratio: Return per unit of downside risk	2.73	3.20	-0.47
Omega ratio: Gain probability vs. loss probability	1.36	1.44	-0.08
Calmar ratio: Return relative to maximum drawdown	2.54	3.31	-0.77
Martin ratio: Return relative to average drawdown	10.78	14.45	-3.67

LTMKX vs. FRBHX - Sharpe Ratio Comparison

The current LTMKX Sharpe Ratio is 1.94, which is comparable to the FRBHX Sharpe Ratio of 2.35. The chart below compares the historical Sharpe Ratios of LTMKX and FRBHX, 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

LTMKX vs. FRBHX - Drawdown Comparison

The maximum LTMKX drawdown since its inception was -32.78%, which is greater than FRBHX's maximum drawdown of -15.29%. Use the drawdown chart below to compare losses from any high point for LTMKX and FRBHX.

Drawdown Indicators

	LTMKX	FRBHX	Difference
Max Drawdown Largest peak-to-trough decline	-32.78%	-15.29%	-17.49%
Max Drawdown (1Y) Largest decline over 1 year	-7.84%	-9.77%	+1.93%
Max Drawdown (3Y) Largest decline over 3 years	-13.73%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-22.91%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-32.78%	—	—
Current Drawdown Current decline from peak	-0.39%	0.00%	-0.39%
Average Drawdown Average peak-to-trough decline	-3.85%	-1.77%	-2.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.84%	2.23%	-0.39%

Volatility

LTMKX vs. FRBHX - Volatility Comparison

The current volatility for MFS Lifetime 2045 Fund (LTMKX) is 3.76%, while Fidelity Freedom® 2070 Fund Class K6 (FRBHX) has a volatility of 5.84%. This indicates that LTMKX experiences smaller price fluctuations and is considered to be less risky than FRBHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LTMKX	FRBHX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.76%	5.84%	-2.08%
Volatility (6M) Calculated over the trailing 6-month period	8.28%	11.69%	-3.41%
Volatility (1Y) Calculated over the trailing 1-year period	10.29%	13.74%	-3.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.55%	16.06%	-2.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.75%	16.06%	-1.31%

LTMKX vs. FRBHX - Expense Ratio Comparison

LTMKX has a 0.00% expense ratio, which is lower than FRBHX's 0.45% expense ratio.

Dividends

LTMKX vs. FRBHX - Dividend Comparison

LTMKX's dividend yield for the trailing twelve months is around 7.06%, more than FRBHX's 4.16% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FRBHX Fidelity Freedom® 2070 Fund Class K6	4.16%	2.53%	2.42%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
LTMKX MFS Lifetime 2045 Fund	7.06%	7.76%	5.02%	3.26%	6.45%	8.35%	2.47%	3.95%	4.12%	3.21%	3.60%	1.76%

Frequently Asked Questions

Can I hold both LTMKX and FRBHX in my portfolio?

With a correlation of 0.95, LTMKX and FRBHX 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, LTMKX or FRBHX?

FRBHX has higher volatility (5.84%) compared to LTMKX (3.76%). In terms of maximum drawdown, LTMKX dropped -32.78% vs FRBHX's -15.29%.

Which has better risk-adjusted returns?

FRBHX currently has the higher Sharpe Ratio (2.35 vs 1.94), 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.