MXGNX vs. FFGZX

Last updated Aug 1, 2026

MXGNX (Great-West Lifetime 2060 Fund) and FFGZX (Fidelity Freedom Index Income Fund Institutional Premium Class) are both Target Retirement Date funds. Over the past 5 years, MXGNX returned 7.44%/yr vs 2.70%/yr for FFGZX. Their 0.61 correlation means they have sometimes moved together and sometimes differently. MXGNX charges 0.47%/yr vs 0.08%/yr for FFGZX.

Performance

MXGNX vs. FFGZX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Great-West Lifetime 2060 Fund (MXGNX) and Fidelity Freedom Index Income Fund Institutional Premium Class (FFGZX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MXGNX achieves a 10.92% return, which is significantly higher than FFGZX's 3.16% return.

MXGNX

• 1D: 1.71%
• 1M: 0.00%
• 6M: 7.47%
• YTD: 10.92%
• 1Y: 21.16%
• 3Y*: 14.24%
• 5Y*: 7.44%
• 10Y*: —
• ALL TIME*: 10.19%

FFGZX

• 1D: 0.56%
• 1M: -0.47%
• 6M: 2.17%
• YTD: 3.16%
• 1Y: 6.99%
• 3Y*: 6.83%
• 5Y*: 2.70%
• 10Y*: 4.03%
• ALL TIME*: 3.90%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FFGZX Fidelity Freedom Index Income Fund Institutional Premium Class	$0.00	$0.00	$0.00
MXGNX Great-West Lifetime 2060 Fund	$0.00	$0.00	$0.00

MXGNX vs. FFGZX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
MXGNX Great-West Lifetime 2060 Fund	10.92%	17.97%	10.55%	17.34%	-17.97%	16.08%	13.72%	9.75%
FFGZX Fidelity Freedom Index Income Fund Institutional Premium Class	3.16%	9.13%	5.02%	8.32%	-11.07%	2.85%	8.59%	5.42%

Correlation

The correlation between MXGNX and FFGZX is 0.81, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.81
Correlation (3Y) Balances recent behavior with more history.	0.71
Correlation (5Y) Shows whether the relationship held over a longer period.	0.65
Correlation (All Time) Calculated using the full available price history since May 7, 2019	0.61

Over the past year, MXGNX and FFGZX have become more correlated (0.81) than their long-term average of 0.61, meaning their price movements have been converging.

Return for Risk

MXGNX vs. FFGZX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

MXGNX

MXGNX Risk / Return Rank: 54
MXGNX Sharpe Ratio Rank: 50
MXGNX Sortino Ratio Rank: 49
MXGNX Omega Ratio Rank: 50
MXGNX Calmar Ratio Rank: 55
MXGNX Martin Ratio Rank: 64

FFGZX

FFGZX Risk / Return Rank: 70
FFGZX Sharpe Ratio Rank: 70
FFGZX Sortino Ratio Rank: 70
FFGZX Omega Ratio Rank: 72
FFGZX Calmar Ratio Rank: 67
FFGZX Martin Ratio Rank: 73

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

MXGNX vs. FFGZX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Great-West Lifetime 2060 Fund (MXGNX) and Fidelity Freedom Index Income Fund Institutional Premium Class (FFGZX). 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.

	MXGNX	FFGZX	Difference
Sharpe ratio: Return per unit of total volatility	1.43	1.62	-0.19
Sortino ratio: Return per unit of downside risk	2.05	2.36	-0.31
Omega ratio: Gain probability vs. loss probability	1.27	1.31	-0.04
Calmar ratio: Return relative to maximum drawdown	2.07	2.16	-0.09
Martin ratio: Return relative to average drawdown	8.54	8.81	-0.27

MXGNX vs. FFGZX - Sharpe Ratio Comparison

The current MXGNX Sharpe Ratio is 1.43, which is comparable to the FFGZX Sharpe Ratio of 1.62. The chart below compares the historical Sharpe Ratios of MXGNX and FFGZX, 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

MXGNX vs. FFGZX - Drawdown Comparison

The maximum MXGNX drawdown since its inception was -31.98%, which is greater than FFGZX's maximum drawdown of -14.94%. Use the drawdown chart below to compare losses from any high point for MXGNX and FFGZX.

Drawdown Indicators

	MXGNX	FFGZX	Difference
Max Drawdown Largest peak-to-trough decline	-31.98%	-14.94%	-17.04%
Max Drawdown (1Y) Largest decline over 1 year	-9.28%	-3.33%	-5.95%
Max Drawdown (3Y) Largest decline over 3 years	-15.12%	-3.82%	-11.30%
Max Drawdown (5Y) Largest decline over 5 years	-30.60%	-14.94%	-15.66%
Max Drawdown (10Y) Largest decline over 10 years	—	-14.94%	—
Current Drawdown Current decline from peak	-0.91%	-1.07%	+0.16%
Average Drawdown Average peak-to-trough decline	-7.43%	-2.24%	-5.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.25%	0.82%	+1.43%

Volatility

MXGNX vs. FFGZX - Volatility Comparison

Great-West Lifetime 2060 Fund (MXGNX) has a higher volatility of 3.32% compared to Fidelity Freedom Index Income Fund Institutional Premium Class (FFGZX) at 1.37%. This indicates that MXGNX's price experiences larger fluctuations and is considered to be riskier than FFGZX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MXGNX	FFGZX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.32%	1.37%	+1.95%
Volatility (6M) Calculated over the trailing 6-month period	10.36%	3.86%	+6.50%
Volatility (1Y) Calculated over the trailing 1-year period	13.45%	4.47%	+8.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.06%	5.17%	+10.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.04%	4.47%	+13.57%

MXGNX vs. FFGZX - Expense Ratio Comparison

MXGNX has a 0.47% expense ratio, which is higher than FFGZX's 0.08% expense ratio.

Dividends

MXGNX vs. FFGZX - Dividend Comparison

MXGNX's dividend yield for the trailing twelve months is around 6.56%, more than FFGZX's 3.09% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FFGZX Fidelity Freedom Index Income Fund Institutional Premium Class	2.76%	3.30%	3.18%	2.88%	3.11%	2.10%	2.22%	7.35%	3.00%	1.95%	1.56%	1.06%
MXGNX Great-West Lifetime 2060 Fund	6.56%	7.28%	6.42%	4.74%	7.99%	8.55%	5.26%	2.56%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MXGNX and FFGZX in my portfolio?

MXGNX and FFGZX have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MXGNX or FFGZX?

MXGNX has higher volatility (3.32%) compared to FFGZX (1.37%). In terms of maximum drawdown, MXGNX dropped -31.98% vs FFGZX's -14.94%.

Which has better risk-adjusted returns?

FFGZX currently has the higher Sharpe Ratio (1.62 vs 1.43), 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.