RLBGX vs. FSNUX

Last updated Jun 4, 2026

RLBGX (American Funds American Balanced Fund Class R-6) and FSNUX (Fidelity Freedom 2035 Fund Class K) are both mutual funds - RLBGX is a Diversified Portfolio fund managed by American Funds, while FSNUX is a Target Retirement Date fund managed by Fidelity. Over the past 5 years, RLBGX returned 10.05%/yr vs 8.28%/yr for FSNUX. Their correlation of 0.93 suggests significant overlap in exposure. RLBGX charges 0.25%/yr vs 0.61%/yr for FSNUX.

Performance

RLBGX vs. FSNUX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Funds American Balanced Fund Class R-6 (RLBGX) and Fidelity Freedom 2035 Fund Class K (FSNUX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with RLBGX having a 10.11% return and FSNUX slightly lower at 10.03%.

RLBGX

• 1D: 0.24%
• 1M: 3.99%
• YTD: 10.11%
• 6M: 10.77%
• 1Y: 25.37%
• 3Y*: 17.89%
• 5Y*: 10.05%
• 10Y*: 10.48%

FSNUX

• 1D: 0.42%
• 1M: 3.76%
• YTD: 10.03%
• 6M: 11.30%
• 1Y: 23.62%
• 3Y*: 17.47%
• 5Y*: 8.28%
• 10Y*: —

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

RLBGX vs. FSNUX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RLBGX American Funds American Balanced Fund Class R-6	10.11%	18.83%	15.35%	13.92%	-11.85%	16.10%	11.20%	18.95%	-3.07%	5.63%
FSNUX Fidelity Freedom 2035 Fund Class K	10.03%	19.34%	13.94%	17.79%	-18.35%	14.50%	17.33%	24.55%	-8.27%	5.89%

Correlation

The correlation between RLBGX and FSNUX is 0.94, 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	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (All Time) Calculated using the full available price history since Jul 26, 2017	0.93

The correlation between RLBGX and FSNUX has been stable across timeframes, ranging from 0.92 to 0.94 - a consistent structural relationship.

Return for Risk

RLBGX vs. FSNUX — Risk / Return Rank

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

RLBGX

RLBGX Risk / Return Rank: 86
RLBGX Sharpe Ratio Rank: 90
RLBGX Sortino Ratio Rank: 88
RLBGX Omega Ratio Rank: 85
RLBGX Calmar Ratio Rank: 81
RLBGX Martin Ratio Rank: 87

FSNUX

FSNUX Risk / Return Rank: 72
FSNUX Sharpe Ratio Rank: 74
FSNUX Sortino Ratio Rank: 72
FSNUX Omega Ratio Rank: 72
FSNUX Calmar Ratio Rank: 69
FSNUX Martin Ratio Rank: 74

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.

RLBGX vs. FSNUX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Funds American Balanced Fund Class R-6 (RLBGX) and Fidelity Freedom 2035 Fund Class K (FSNUX). 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.

	RLBGX	FSNUX	Difference
Sharpe ratio: Return per unit of total volatility	2.99	2.49	+0.50
Sortino ratio: Return per unit of downside risk	4.18	3.53	+0.65
Omega ratio: Gain probability vs. loss probability	1.57	1.48	+0.09
Calmar ratio: Return relative to maximum drawdown	3.73	3.21	+0.51
Martin ratio: Return relative to average drawdown	16.84	14.00	+2.84
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RLBGX vs. FSNUX - Sharpe Ratio Comparison

The current RLBGX Sharpe Ratio is 2.99, which is comparable to the FSNUX Sharpe Ratio of 2.49. The chart below compares the historical Sharpe Ratios of RLBGX and FSNUX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	RLBGX	FSNUX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.99	2.49	+0.50
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.96	0.67	+0.29
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.99	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.98	0.72	+0.26

Drawdowns

RLBGX vs. FSNUX - Drawdown Comparison

The maximum RLBGX drawdown since its inception was -22.33%, smaller than the maximum FSNUX drawdown of -28.85%. Use the drawdown chart below to compare losses from any high point for RLBGX and FSNUX.

Drawdown Indicators

	RLBGX	FSNUX	Difference
Max Drawdown Largest peak-to-trough decline	-22.33%	-28.85%	+6.52%
Max Drawdown (1Y) Largest decline over 1 year	-6.98%	-7.49%	+0.51%
Max Drawdown (3Y) Largest decline over 3 years	-10.65%	-11.58%	+0.93%
Max Drawdown (5Y) Largest decline over 5 years	-18.59%	-25.87%	+7.28%
Max Drawdown (10Y) Largest decline over 10 years	-22.33%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-2.46%	-5.45%	+2.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.54%	1.71%	-0.17%

Volatility

RLBGX vs. FSNUX - Volatility Comparison

The current volatility for American Funds American Balanced Fund Class R-6 (RLBGX) is 2.64%, while Fidelity Freedom 2035 Fund Class K (FSNUX) has a volatility of 3.36%. This indicates that RLBGX experiences smaller price fluctuations and is considered to be less risky than FSNUX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RLBGX	FSNUX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.64%	3.36%	-0.72%
Volatility (6M) Calculated over the trailing 6-month period	6.84%	7.97%	-1.13%
Volatility (1Y) Calculated over the trailing 1-year period	8.69%	9.65%	-0.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.49%	12.45%	-1.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.67%	13.96%	-3.29%

RLBGX vs. FSNUX - Expense Ratio Comparison

RLBGX has a 0.25% expense ratio, which is lower than FSNUX's 0.61% expense ratio.

Dividends

RLBGX vs. FSNUX - Dividend Comparison

RLBGX's dividend yield for the trailing twelve months is around 7.81%, more than FSNUX's 5.90% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSNUX Fidelity Freedom 2035 Fund Class K	5.90%	5.08%	5.51%	2.03%	10.34%	11.67%	6.01%	6.85%	7.77%	1.74%	0.00%	0.00%
RLBGX American Funds American Balanced Fund Class R-6	7.81%	8.56%	7.50%	2.27%	2.63%	4.59%	4.65%	3.78%	5.81%	4.92%	4.54%	5.91%

Frequently Asked Questions

Can I hold both RLBGX and FSNUX in my portfolio?

With a correlation of 0.94, RLBGX and FSNUX 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, RLBGX or FSNUX?

FSNUX has higher volatility (3.36%) compared to RLBGX (2.64%). In terms of maximum drawdown, RLBGX dropped -22.33% vs FSNUX's -28.85%.

Which has better risk-adjusted returns?

RLBGX currently has the higher Sharpe Ratio (2.99 vs 2.49), 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.