PRRTX vs. FNSHX

Last updated Jul 4, 2026

PRRTX (Putnam RetirementReady 2030 Fund) and FNSHX (Fidelity Freedom Income Fund Class K) are both Target Retirement Date funds. Over the past 5 years, PRRTX returned 4.98%/yr vs 3.06%/yr for FNSHX. A 0.79 correlation means they provide meaningful diversification when combined. PRRTX charges 0.11%/yr vs 0.42%/yr for FNSHX.

Performance

PRRTX vs. FNSHX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Putnam RetirementReady 2030 Fund (PRRTX) and Fidelity Freedom Income Fund Class K (FNSHX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PRRTX achieves a 2.83% return, which is significantly lower than FNSHX's 4.58% return.

PRRTX

• 1D: 0.04%
• 1M: 0.11%
• 6M: 2.67%
• YTD: 2.83%
• 1Y: 7.20%
• 3Y*: 9.04%
• 5Y*: 4.98%
• 10Y*: 6.03%

FNSHX

• 1D: 0.00%
• 1M: -0.13%
• 6M: 4.30%
• YTD: 4.58%
• 1Y: 9.19%
• 3Y*: 7.83%
• 5Y*: 3.06%
• 10Y*: —

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

PRRTX vs. FNSHX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PRRTX Putnam RetirementReady 2030 Fund	2.83%	8.59%	6.18%	15.42%	-7.91%	6.89%	5.46%	13.40%	-6.22%	5.62%
FNSHX Fidelity Freedom Income Fund Class K	4.58%	10.35%	4.40%	8.26%	-11.31%	3.16%	9.01%	10.74%	-1.86%	0.09%

Correlation

The correlation between PRRTX and FNSHX is 0.90, 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	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.82
Correlation (All Time) Calculated using the full available price history since Jul 25, 2017	0.79

The correlation between PRRTX and FNSHX shifts across timeframes, from 0.79 (all time) to 0.90 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

PRRTX vs. FNSHX — Risk / Return Rank

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

PRRTX

PRRTX Risk / Return Rank: 37
PRRTX Sharpe Ratio Rank: 35
PRRTX Sortino Ratio Rank: 37
PRRTX Omega Ratio Rank: 34
PRRTX Calmar Ratio Rank: 36
PRRTX Martin Ratio Rank: 43

FNSHX

FNSHX Risk / Return Rank: 69
FNSHX Sharpe Ratio Rank: 67
FNSHX Sortino Ratio Rank: 67
FNSHX Omega Ratio Rank: 72
FNSHX Calmar Ratio Rank: 65
FNSHX Martin Ratio Rank: 73

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.

PRRTX vs. FNSHX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Putnam RetirementReady 2030 Fund (PRRTX) and Fidelity Freedom Income Fund Class K (FNSHX). 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.

	PRRTX	FNSHX	Difference
Sharpe ratio: Return per unit of total volatility	1.34	1.83	-0.49
Sortino ratio: Return per unit of downside risk	1.96	2.62	-0.65
Omega ratio: Gain probability vs. loss probability	1.24	1.36	-0.12
Calmar ratio: Return relative to maximum drawdown	1.83	2.52	-0.68
Martin ratio: Return relative to average drawdown	7.44	10.72	-3.28

PRRTX vs. FNSHX - Sharpe Ratio Comparison

The current PRRTX Sharpe Ratio is 1.34, which is comparable to the FNSHX Sharpe Ratio of 1.83. The chart below compares the historical Sharpe Ratios of PRRTX and FNSHX, 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

PRRTX vs. FNSHX - Drawdown Comparison

The maximum PRRTX drawdown since its inception was -16.59%, roughly equal to the maximum FNSHX drawdown of -15.87%. Use the drawdown chart below to compare losses from any high point for PRRTX and FNSHX.

Drawdown Indicators

	PRRTX	FNSHX	Difference
Max Drawdown Largest peak-to-trough decline	-16.59%	-15.87%	-0.72%
Max Drawdown (1Y) Largest decline over 1 year	-4.07%	-3.68%	-0.39%
Max Drawdown (3Y) Largest decline over 3 years	-9.20%	-4.89%	-4.31%
Max Drawdown (5Y) Largest decline over 5 years	-11.71%	-15.87%	+4.16%
Max Drawdown (10Y) Largest decline over 10 years	-16.59%	—	—
Current Drawdown Current decline from peak	-0.37%	-0.51%	+0.14%
Average Drawdown Average peak-to-trough decline	-2.26%	-3.01%	+0.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.00%	0.86%	+0.14%

Volatility

PRRTX vs. FNSHX - Volatility Comparison

Putnam RetirementReady 2030 Fund (PRRTX) and Fidelity Freedom Income Fund Class K (FNSHX) have volatilities of 2.27% and 2.37%, 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

	PRRTX	FNSHX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.27%	2.37%	-0.10%
Volatility (6M) Calculated over the trailing 6-month period	4.51%	4.46%	+0.05%
Volatility (1Y) Calculated over the trailing 1-year period	5.58%	5.07%	+0.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.18%	5.44%	+1.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.24%	4.88%	+2.36%

PRRTX vs. FNSHX - Expense Ratio Comparison

PRRTX has a 0.11% expense ratio, which is lower than FNSHX's 0.42% expense ratio.

Dividends

PRRTX vs. FNSHX - Dividend Comparison

PRRTX's dividend yield for the trailing twelve months is around 2.08%, less than FNSHX's 2.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FNSHX Fidelity Freedom Income Fund Class K	2.98%	3.21%	3.19%	2.98%	5.94%	6.17%	4.43%	3.74%	5.22%	0.00%	0.00%	0.00%
PRRTX Putnam RetirementReady 2030 Fund	2.08%	2.14%	2.57%	2.66%	10.69%	8.38%	1.54%	3.76%	7.57%	2.95%	0.73%	2.72%

Frequently Asked Questions

Can I hold both PRRTX and FNSHX in my portfolio?

With a correlation of 0.90, PRRTX and FNSHX 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, PRRTX or FNSHX?

FNSHX has higher volatility (2.37%) compared to PRRTX (2.27%). In terms of maximum drawdown, PRRTX dropped -16.59% vs FNSHX's -15.87%.

Which has better risk-adjusted returns?

FNSHX currently has the higher Sharpe Ratio (1.83 vs 1.34), 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.