PAERX vs. FIKFX

Last updated Aug 1, 2026

PAERX (T. Rowe Price Target 2010 Fund) and FIKFX (Fidelity Freedom Index Retirement Fund Investor Class) are both Target Retirement Date funds. Over the past 10 years, PAERX returned 5.13%/yr vs 4.02%/yr for FIKFX. Their correlation of 0.85 means they have usually moved in the same direction. PAERX charges 0.70%/yr vs 0.12%/yr for FIKFX.

Performance

PAERX vs. FIKFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Target 2010 Fund (PAERX) and Fidelity Freedom Index Retirement Fund Investor Class (FIKFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PAERX achieves a 4.05% return, which is significantly higher than FIKFX's 3.28% return. Over the past 10 years, PAERX has outperformed FIKFX with an annualized return of 5.13%, while FIKFX has yielded a comparatively lower 4.02% annualized return.

PAERX

• 1D: 0.58%
• 1M: -0.41%
• 6M: 2.20%
• YTD: 4.05%
• 1Y: 8.93%
• 3Y*: 8.26%
• 5Y*: 3.60%
• 10Y*: 5.13%
• ALL TIME*: 5.02%

FIKFX

• 1D: 0.56%
• 1M: -0.35%
• 6M: 2.29%
• YTD: 3.28%
• 1Y: 7.10%
• 3Y*: 6.88%
• 5Y*: 2.72%
• 10Y*: 4.02%
• ALL TIME*: 3.91%

*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)
FIKFX Fidelity Freedom Index Retirement Fund Investor Class	$0.00	$0.00	$0.00
PAERX T. Rowe Price Target 2010 Fund	$0.00	$0.00	$0.00

PAERX vs. FIKFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PAERX T. Rowe Price Target 2010 Fund	4.05%	10.28%	7.03%	10.51%	-12.97%	7.13%	10.69%	14.61%	-3.43%	8.29%
FIKFX Fidelity Freedom Index Retirement Fund Investor Class	3.28%	9.23%	4.96%	8.28%	-11.09%	2.79%	8.54%	10.59%	-0.76%	6.66%

Correlation

The correlation between PAERX and FIKFX is 0.90, 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.	0.90
Correlation (3Y) Balances recent behavior with more history.	0.85
Correlation (5Y) Shows whether the relationship held over a longer period.	0.85
Correlation (10Y) Provides a long-term view across more market conditions.	0.83
Correlation (All Time) Calculated using the full available price history since Aug 22, 2013	0.85

The correlation between PAERX and FIKFX has been stable across timeframes, ranging from 0.83 to 0.90 - a consistent structural relationship.

Return for Risk

PAERX vs. FIKFX — Risk / Return Rank

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

PAERX

PAERX Risk / Return Rank: 66
PAERX Sharpe Ratio Rank: 67
PAERX Sortino Ratio Rank: 68
PAERX Omega Ratio Rank: 69
PAERX Calmar Ratio Rank: 58
PAERX Martin Ratio Rank: 69

FIKFX

FIKFX Risk / Return Rank: 73
FIKFX Sharpe Ratio Rank: 73
FIKFX Sortino Ratio Rank: 73
FIKFX Omega Ratio Rank: 74
FIKFX Calmar Ratio Rank: 69
FIKFX Martin Ratio Rank: 77

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.

PAERX vs. FIKFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Target 2010 Fund (PAERX) and Fidelity Freedom Index Retirement Fund Investor Class (FIKFX). 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.

	PAERX	FIKFX	Difference
Sharpe ratio: Return per unit of total volatility	1.65	1.65	0.00
Sortino ratio: Return per unit of downside risk	2.39	2.39	-0.01
Omega ratio: Gain probability vs. loss probability	1.32	1.32	0.00
Calmar ratio: Return relative to maximum drawdown	2.11	2.20	-0.09
Martin ratio: Return relative to average drawdown	8.97	9.13	-0.16

PAERX vs. FIKFX - Sharpe Ratio Comparison

The current PAERX Sharpe Ratio is 1.65, which is comparable to the FIKFX Sharpe Ratio of 1.65. The chart below compares the historical Sharpe Ratios of PAERX and FIKFX, 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

PAERX vs. FIKFX - Drawdown Comparison

The maximum PAERX drawdown since its inception was -18.08%, which is greater than FIKFX's maximum drawdown of -15.03%. Use the drawdown chart below to compare losses from any high point for PAERX and FIKFX.

Drawdown Indicators

	PAERX	FIKFX	Difference
Max Drawdown Largest peak-to-trough decline	-18.08%	-15.03%	-3.05%
Max Drawdown (1Y) Largest decline over 1 year	-4.19%	-3.32%	-0.87%
Max Drawdown (3Y) Largest decline over 3 years	-5.79%	-3.82%	-1.97%
Max Drawdown (5Y) Largest decline over 5 years	-17.58%	-15.03%	-2.55%
Max Drawdown (10Y) Largest decline over 10 years	-18.08%	-15.03%	-3.05%
Current Drawdown Current decline from peak	-0.74%	-0.87%	+0.13%
Average Drawdown Average peak-to-trough decline	-2.77%	-1.71%	-1.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.97%	0.80%	+0.17%

Volatility

PAERX vs. FIKFX - Volatility Comparison

T. Rowe Price Target 2010 Fund (PAERX) and Fidelity Freedom Index Retirement Fund Investor Class (FIKFX) have volatilities of 1.34% and 1.38%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PAERX	FIKFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.34%	1.38%	-0.04%
Volatility (6M) Calculated over the trailing 6-month period	4.48%	3.85%	+0.63%
Volatility (1Y) Calculated over the trailing 1-year period	5.37%	4.44%	+0.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.45%	5.21%	+1.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.54%	4.48%	+2.06%

PAERX vs. FIKFX - Expense Ratio Comparison

PAERX has a 0.70% expense ratio, which is higher than FIKFX's 0.12% expense ratio.

Dividends

PAERX vs. FIKFX - Dividend Comparison

PAERX's dividend yield for the trailing twelve months is around 4.75%, more than FIKFX's 3.20% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIKFX Fidelity Freedom Index Retirement Fund Investor Class	2.88%	3.40%	3.13%	2.85%	3.06%	2.04%	2.18%	7.27%	2.94%	1.89%	1.65%	1.39%
PAERX T. Rowe Price Target 2010 Fund	4.75%	4.94%	4.08%	3.41%	7.51%	7.32%	5.14%	2.87%	4.66%	1.43%	0.65%	0.87%

Frequently Asked Questions

Can I hold both PAERX and FIKFX in my portfolio?

With a correlation of 0.90, PAERX and FIKFX 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, PAERX or FIKFX?

FIKFX has higher volatility (1.38%) compared to PAERX (1.34%). In terms of maximum drawdown, PAERX dropped -18.08% vs FIKFX's -15.03%.

Which has better risk-adjusted returns?

FIKFX currently has the higher Sharpe Ratio (1.65 vs 1.65), 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.