MXBGX vs. FFSDX

Last updated Jun 23, 2026

MXBGX (Great-West Lifetime 2040 Fund) and FFSDX (Fidelity Freedom 2065 Fund Class K) are both Target Retirement Date funds. Over the past 5 years, MXBGX returned 7.73%/yr vs 11.04%/yr for FFSDX. Their correlation of 0.85 suggests significant overlap in exposure. MXBGX charges 0.11%/yr vs 0.65%/yr for FFSDX.

Performance

MXBGX vs. FFSDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Great-West Lifetime 2040 Fund (MXBGX) and Fidelity Freedom 2065 Fund Class K (FFSDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MXBGX achieves a 9.38% return, which is significantly lower than FFSDX's 14.99% return.

MXBGX

• 1D: 0.78%
• 1M: 1.65%
• YTD: 9.38%
• 6M: 9.01%
• 1Y: 21.31%
• 3Y*: 14.26%
• 5Y*: 7.73%
• 10Y*: 9.64%

FFSDX

• 1D: 1.51%
• 1M: 3.36%
• YTD: 14.99%
• 6M: 15.02%
• 1Y: 32.56%
• 3Y*: 20.16%
• 5Y*: 11.04%
• 10Y*: —

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

MXBGX vs. FFSDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
MXBGX Great-West Lifetime 2040 Fund	9.38%	16.19%	10.17%	16.47%	-15.90%	15.69%	13.61%	8.16%
FFSDX Fidelity Freedom 2065 Fund Class K	14.99%	23.80%	14.16%	20.69%	-18.22%	16.59%	18.26%	9.09%

Correlation

The correlation between MXBGX and FFSDX is 0.92, 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	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (All Time) Calculated using the full available price history since Jun 28, 2019	0.85

The correlation between MXBGX and FFSDX has been stable across timeframes, ranging from 0.85 to 0.92 - a consistent structural relationship.

Return for Risk

MXBGX vs. FFSDX — Risk / Return Rank

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

MXBGX

MXBGX Risk / Return Rank: 50
MXBGX Sharpe Ratio Rank: 46
MXBGX Sortino Ratio Rank: 45
MXBGX Omega Ratio Rank: 49
MXBGX Calmar Ratio Rank: 52
MXBGX Martin Ratio Rank: 58

FFSDX

FFSDX Risk / Return Rank: 76
FFSDX Sharpe Ratio Rank: 77
FFSDX Sortino Ratio Rank: 70
FFSDX Omega Ratio Rank: 73
FFSDX Calmar Ratio Rank: 76
FFSDX Martin Ratio Rank: 83

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.

MXBGX vs. FFSDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Great-West Lifetime 2040 Fund (MXBGX) and Fidelity Freedom 2065 Fund Class K (FFSDX). 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.

	MXBGX	FFSDX	Difference
Sharpe ratio: Return per unit of total volatility	1.85	2.34	-0.49
Sortino ratio: Return per unit of downside risk	2.62	3.19	-0.57
Omega ratio: Gain probability vs. loss probability	1.35	1.44	-0.09
Calmar ratio: Return relative to maximum drawdown	2.64	3.29	-0.65
Martin ratio: Return relative to average drawdown	10.94	14.40	-3.46

MXBGX vs. FFSDX - Sharpe Ratio Comparison

The current MXBGX Sharpe Ratio is 1.85, which is comparable to the FFSDX Sharpe Ratio of 2.34. The chart below compares the historical Sharpe Ratios of MXBGX and FFSDX, 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

MXBGX vs. FFSDX - Drawdown Comparison

The maximum MXBGX drawdown since its inception was -30.12%, roughly equal to the maximum FFSDX drawdown of -31.03%. Use the drawdown chart below to compare losses from any high point for MXBGX and FFSDX.

Drawdown Indicators

	MXBGX	FFSDX	Difference
Max Drawdown Largest peak-to-trough decline	-30.12%	-31.03%	+0.91%
Max Drawdown (1Y) Largest decline over 1 year	-7.98%	-9.80%	+1.82%
Max Drawdown (3Y) Largest decline over 3 years	-13.05%	-15.40%	+2.35%
Max Drawdown (5Y) Largest decline over 5 years	-28.13%	-27.29%	-0.84%
Max Drawdown (10Y) Largest decline over 10 years	-30.12%	—	—
Current Drawdown Current decline from peak	-0.23%	0.00%	-0.23%
Average Drawdown Average peak-to-trough decline	-5.59%	-5.84%	+0.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.92%	2.23%	-0.31%

Volatility

MXBGX vs. FFSDX - Volatility Comparison

The current volatility for Great-West Lifetime 2040 Fund (MXBGX) is 4.02%, while Fidelity Freedom 2065 Fund Class K (FFSDX) has a volatility of 5.86%. This indicates that MXBGX experiences smaller price fluctuations and is considered to be less risky than FFSDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MXBGX	FFSDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.02%	5.86%	-1.84%
Volatility (6M) Calculated over the trailing 6-month period	8.63%	11.75%	-3.12%
Volatility (1Y) Calculated over the trailing 1-year period	11.38%	13.77%	-2.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.50%	15.22%	-0.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.14%	17.09%	-1.95%

MXBGX vs. FFSDX - Expense Ratio Comparison

MXBGX has a 0.11% expense ratio, which is lower than FFSDX's 0.65% expense ratio.

Dividends

MXBGX vs. FFSDX - Dividend Comparison

MXBGX's dividend yield for the trailing twelve months is around 4.59%, less than FFSDX's 4.86% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FFSDX Fidelity Freedom 2065 Fund Class K	4.86%	3.68%	2.75%	2.15%	8.83%	7.86%	2.31%	1.49%	0.00%	0.00%
MXBGX Great-West Lifetime 2040 Fund	4.59%	5.02%	6.86%	5.77%	11.05%	10.66%	6.43%	9.53%	7.86%	5.21%

Frequently Asked Questions

Can I hold both MXBGX and FFSDX in my portfolio?

With a correlation of 0.92, MXBGX and FFSDX 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, MXBGX or FFSDX?

FFSDX has higher volatility (5.86%) compared to MXBGX (4.02%). In terms of maximum drawdown, MXBGX dropped -30.12% vs FFSDX's -31.03%.

Which has better risk-adjusted returns?

FFSDX currently has the higher Sharpe Ratio (2.34 vs 1.85), 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.