MLFIX vs. FDFPX
MLFIX (MFS Lifetime 2040 Fund) and FDFPX (Fidelity Flex Freedom Blend 2065 Fund) are both Target Retirement Date funds. Over the past 5 years, MLFIX returned 7.79%/yr vs 10.66%/yr for FDFPX. Their 0.96 correlation means they have historically moved very closely together. Both charge a 0.00% expense ratio.
Performance
MLFIX vs. FDFPX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, MLFIX achieves a 9.59% return, which is significantly lower than FDFPX's 12.26% return.
MLFIX
- 1D
- 1.16%
- 1M
- 0.44%
- 6M
- 6.51%
- YTD
- 9.59%
- 1Y
- 16.97%
- 3Y*
- 13.67%
- 5Y*
- 7.79%
- 10Y*
- 10.34%
- ALL TIME*
- 8.06%
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 |
MLFIX vs. FDFPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
MLFIX MFS Lifetime 2040 Fund | 9.59% | 15.08% | 12.35% | 16.29% | -15.32% | 18.94% | 13.13% | 8.15% |
FDFPX Fidelity Flex Freedom Blend 2065 Fund | 12.26% | 22.81% | 17.81% | 20.93% | -18.57% | 16.84% | 18.54% | 9.17% |
Correlation
The correlation between MLFIX and FDFPX is 0.96 - 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. | 0.96 |
Correlation (3Y) Balances recent behavior with more history. | 0.95 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.97 |
Correlation (All Time) Calculated using the full available price history since Jun 28, 2019 | 0.96 |
The correlation between MLFIX and FDFPX has been stable across timeframes, ranging from 0.95 to 0.97 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
MLFIX vs. FDFPX — Risk / Return Rank
MLFIX
FDFPX
MLFIX vs. FDFPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MFS Lifetime 2040 Fund (MLFIX) 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.
| MLFIX | FDFPX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.02 | ||
| Sortino ratioReturn per unit of downside risk | +0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.30 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.11 | 2.40 | -0.29 |
| Martin ratioReturn relative to average drawdown | 8.99 | 10.04 | -1.05 |
Loading charts...
Drawdowns
MLFIX vs. FDFPX - Drawdown Comparison
The maximum MLFIX drawdown since its inception was -54.99%, which is greater than FDFPX's maximum drawdown of -31.22%. Use the drawdown chart below to compare losses from any high point for MLFIX and FDFPX.
Loading charts...
Drawdown Indicators
| MLFIX | FDFPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -54.99% | -31.22% | -23.77% |
Max Drawdown (1Y)Largest decline over 1 year | -7.29% | -9.54% | +2.25% |
Max Drawdown (3Y)Largest decline over 3 years | -12.76% | -15.42% | +2.66% |
Max Drawdown (5Y)Largest decline over 5 years | -22.37% | -27.41% | +5.04% |
Max Drawdown (10Y)Largest decline over 10 years | -31.66% | — | — |
Current DrawdownCurrent decline from peak | -0.31% | -2.19% | +1.88% |
Average DrawdownAverage peak-to-trough decline | -7.01% | -5.76% | -1.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.71% | 2.28% | -0.57% |
Volatility
MLFIX vs. FDFPX - Volatility Comparison
The current volatility for MFS Lifetime 2040 Fund (MLFIX) is 2.35%, while Fidelity Flex Freedom Blend 2065 Fund (FDFPX) has a volatility of 4.37%. This indicates that MLFIX experiences smaller price fluctuations and is considered to be less risky than FDFPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| MLFIX | FDFPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.35% | 4.37% | -2.02% |
Volatility (6M)Calculated over the trailing 6-month period | 7.75% | 12.20% | -4.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.67% | 14.21% | -4.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.69% | 15.34% | -2.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.85% | 17.21% | -3.36% |
MLFIX vs. FDFPX - Expense Ratio Comparison
MLFIX has a 0.00% expense ratio, which is lower than FDFPX's 0.00% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
MLFIX vs. FDFPX - Dividend Comparison
MLFIX's dividend yield for the trailing twelve months is around 7.10%, more than FDFPX's 3.81% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FDFPX Fidelity Flex Freedom Blend 2065 Fund | 3.81% | 2.87% | 6.56% | 2.22% | 5.41% | 8.52% | 5.38% | 3.19% | 0.00% | 0.00% | 0.00% | 0.00% |
MLFIX MFS Lifetime 2040 Fund | 7.10% | 7.79% | 5.41% | 3.58% | 6.61% | 8.92% | 3.07% | 5.79% | 6.06% | 3.56% | 6.91% | 2.20% |
Frequently Asked Questions
With a correlation of 0.96, MLFIX 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.
FDFPX has higher volatility (4.37%) compared to MLFIX (2.35%). In terms of maximum drawdown, MLFIX dropped -54.99% vs FDFPX's -31.22%.
FDFPX currently has the higher Sharpe Ratio (1.61 vs 1.59), 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.
Find the right allocation for MLFIX and FDFPX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer