NWAQX vs. FFGZX

Last updated Aug 1, 2026

NWAQX (Nationwide Destination 2065 Fund) and FFGZX (Fidelity Freedom Index Income Fund Institutional Premium Class) are both Target Retirement Date funds. Over the past 5 years, NWAQX returned 8.62%/yr vs 2.70%/yr for FFGZX. Their 0.72 correlation means they have sometimes moved together and sometimes differently. NWAQX charges 0.60%/yr vs 0.08%/yr for FFGZX.

Performance

NWAQX vs. FFGZX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Nationwide Destination 2065 Fund (NWAQX) 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, NWAQX achieves a 10.92% return, which is significantly higher than FFGZX's 3.16% return.

NWAQX

• 1D: 2.19%
• 1M: 0.33%
• 6M: 8.05%
• YTD: 10.92%
• 1Y: 22.09%
• 3Y*: 15.72%
• 5Y*: 8.62%
• 10Y*: —
• ALL TIME*: 12.41%

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
NWAQX Nationwide Destination 2065 Fund	$0.00	$0.00	$0.00

NWAQX vs. FFGZX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
NWAQX Nationwide Destination 2065 Fund	10.92%	19.12%	12.92%	20.25%	-19.01%	17.34%	24.26%
FFGZX Fidelity Freedom Index Income Fund Institutional Premium Class	3.16%	9.13%	5.02%	8.32%	-11.07%	2.85%	8.13%

Correlation

The correlation between NWAQX and FFGZX is 0.87, 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.	0.87
Correlation (3Y) Balances recent behavior with more history.	0.76
Correlation (5Y) Shows whether the relationship held over a longer period.	0.71
Correlation (All Time) Calculated using the full available price history since Feb 28, 2020	0.72

The correlation between NWAQX and FFGZX shifts across timeframes, from 0.71 (5 years) to 0.87 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

NWAQX vs. FFGZX — Risk / Return Rank

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

NWAQX

NWAQX Risk / Return Rank: 63
NWAQX Sharpe Ratio Rank: 60
NWAQX Sortino Ratio Rank: 59
NWAQX Omega Ratio Rank: 56
NWAQX Calmar Ratio Rank: 64
NWAQX Martin Ratio Rank: 75

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.

NWAQX vs. FFGZX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Nationwide Destination 2065 Fund (NWAQX) 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.

	NWAQX	FFGZX	Difference
Sharpe ratio: Return per unit of total volatility	1.55	1.62	-0.07
Sortino ratio: Return per unit of downside risk	2.22	2.36	-0.14
Omega ratio: Gain probability vs. loss probability	1.28	1.31	-0.03
Calmar ratio: Return relative to maximum drawdown	2.24	2.16	+0.08
Martin ratio: Return relative to average drawdown	9.59	8.81	+0.78

NWAQX vs. FFGZX - Sharpe Ratio Comparison

The current NWAQX Sharpe Ratio is 1.55, which is comparable to the FFGZX Sharpe Ratio of 1.62. The chart below compares the historical Sharpe Ratios of NWAQX 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

NWAQX vs. FFGZX - Drawdown Comparison

The maximum NWAQX drawdown since its inception was -29.29%, which is greater than FFGZX's maximum drawdown of -14.94%. Use the drawdown chart below to compare losses from any high point for NWAQX and FFGZX.

Drawdown Indicators

	NWAQX	FFGZX	Difference
Max Drawdown Largest peak-to-trough decline	-29.29%	-14.94%	-14.35%
Max Drawdown (1Y) Largest decline over 1 year	-8.98%	-3.33%	-5.65%
Max Drawdown (3Y) Largest decline over 3 years	-15.18%	-3.82%	-11.36%
Max Drawdown (5Y) Largest decline over 5 years	-26.97%	-14.94%	-12.03%
Max Drawdown (10Y) Largest decline over 10 years	—	-14.94%	—
Current Drawdown Current decline from peak	-0.84%	-1.07%	+0.23%
Average Drawdown Average peak-to-trough decline	-6.16%	-2.24%	-3.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.10%	0.82%	+1.28%

Volatility

NWAQX vs. FFGZX - Volatility Comparison

Nationwide Destination 2065 Fund (NWAQX) has a higher volatility of 3.87% compared to Fidelity Freedom Index Income Fund Institutional Premium Class (FFGZX) at 1.37%. This indicates that NWAQX'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

	NWAQX	FFGZX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.87%	1.37%	+2.50%
Volatility (6M) Calculated over the trailing 6-month period	10.91%	3.86%	+7.05%
Volatility (1Y) Calculated over the trailing 1-year period	13.02%	4.47%	+8.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.38%	5.17%	+10.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.63%	4.47%	+14.16%

NWAQX vs. FFGZX - Expense Ratio Comparison

NWAQX has a 0.60% expense ratio, which is higher than FFGZX's 0.08% expense ratio.

Dividends

NWAQX vs. FFGZX - Dividend Comparison

NWAQX's dividend yield for the trailing twelve months is around 5.95%, 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%
NWAQX Nationwide Destination 2065 Fund	5.95%	6.54%	9.49%	2.23%	1.38%	5.43%	6.71%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both NWAQX and FFGZX in my portfolio?

NWAQX and FFGZX have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NWAQX or FFGZX?

NWAQX has higher volatility (3.87%) compared to FFGZX (1.37%). In terms of maximum drawdown, NWAQX dropped -29.29% vs FFGZX's -14.94%.

Which has better risk-adjusted returns?

FFGZX currently has the higher Sharpe Ratio (1.62 vs 1.55), 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.