SWQRX vs. FATKX

Last updated Jun 24, 2026

SWQRX (Schwab Target 2065 Fund) and FATKX (Fidelity Freedom 2020 Fund Class K6) are both Target Retirement Date funds. Over the past 5 years, SWQRX returned 9.54%/yr vs 6.12%/yr for FATKX. Their correlation of 0.89 suggests significant overlap in exposure. SWQRX charges 0.00%/yr vs 0.42%/yr for FATKX.

Performance

SWQRX vs. FATKX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab Target 2065 Fund (SWQRX) and Fidelity Freedom 2020 Fund Class K6 (FATKX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SWQRX achieves a 11.87% return, which is significantly higher than FATKX's 7.38% return.

SWQRX

• 1D: 0.00%
• 1M: 1.54%
• YTD: 11.87%
• 6M: 11.10%
• 1Y: 26.83%
• 3Y*: 19.21%
• 5Y*: 9.54%
• 10Y*: —

FATKX

• 1D: -0.31%
• 1M: 1.66%
• YTD: 7.38%
• 6M: 7.22%
• 1Y: 16.66%
• 3Y*: 13.52%
• 5Y*: 6.12%
• 10Y*: —

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

SWQRX vs. FATKX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
SWQRX Schwab Target 2065 Fund	11.87%	20.95%	14.36%	21.21%	-20.23%	15.97%
FATKX Fidelity Freedom 2020 Fund Class K6	7.38%	15.14%	11.68%	13.16%	-15.93%	7.43%

Correlation

The correlation between SWQRX and FATKX 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	0.88
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (All Time) Calculated using the full available price history since Mar 8, 2021	0.89

The correlation between SWQRX and FATKX has been stable across timeframes, ranging from 0.88 to 0.94 - a consistent structural relationship.

Return for Risk

SWQRX vs. FATKX — Risk / Return Rank

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

SWQRX

SWQRX Risk / Return Rank: 62
SWQRX Sharpe Ratio Rank: 63
SWQRX Sortino Ratio Rank: 59
SWQRX Omega Ratio Rank: 60
SWQRX Calmar Ratio Rank: 61
SWQRX Martin Ratio Rank: 69

FATKX

FATKX Risk / Return Rank: 75
FATKX Sharpe Ratio Rank: 74
FATKX Sortino Ratio Rank: 74
FATKX Omega Ratio Rank: 77
FATKX Calmar Ratio Rank: 73
FATKX Martin Ratio Rank: 78

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.

SWQRX vs. FATKX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab Target 2065 Fund (SWQRX) and Fidelity Freedom 2020 Fund Class K6 (FATKX). 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.

	SWQRX	FATKX	Difference
Sharpe ratio: Return per unit of total volatility	2.15	2.31	-0.16
Sortino ratio: Return per unit of downside risk	2.94	3.28	-0.34
Omega ratio: Gain probability vs. loss probability	1.39	1.46	-0.06
Calmar ratio: Return relative to maximum drawdown	2.86	3.15	-0.29
Martin ratio: Return relative to average drawdown	12.47	13.54	-1.08

SWQRX vs. FATKX - Sharpe Ratio Comparison

The current SWQRX Sharpe Ratio is 2.15, which is comparable to the FATKX Sharpe Ratio of 2.31. The chart below compares the historical Sharpe Ratios of SWQRX and FATKX, 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

SWQRX vs. FATKX - Drawdown Comparison

The maximum SWQRX drawdown since its inception was -28.26%, which is greater than FATKX's maximum drawdown of -22.44%. Use the drawdown chart below to compare losses from any high point for SWQRX and FATKX.

Drawdown Indicators

	SWQRX	FATKX	Difference
Max Drawdown Largest peak-to-trough decline	-28.26%	-22.44%	-5.82%
Max Drawdown (1Y) Largest decline over 1 year	-9.80%	-5.48%	-4.32%
Max Drawdown (3Y) Largest decline over 3 years	-16.02%	-7.64%	-8.38%
Max Drawdown (5Y) Largest decline over 5 years	-28.26%	-22.44%	-5.82%
Current Drawdown Current decline from peak	-0.41%	-0.31%	-0.10%
Average Drawdown Average peak-to-trough decline	-6.61%	-4.36%	-2.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.24%	1.27%	+0.97%

Volatility

SWQRX vs. FATKX - Volatility Comparison

Schwab Target 2065 Fund (SWQRX) has a higher volatility of 5.06% compared to Fidelity Freedom 2020 Fund Class K6 (FATKX) at 3.16%. This indicates that SWQRX's price experiences larger fluctuations and is considered to be riskier than FATKX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SWQRX	FATKX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.06%	3.16%	+1.90%
Volatility (6M) Calculated over the trailing 6-month period	10.73%	6.42%	+4.31%
Volatility (1Y) Calculated over the trailing 1-year period	13.10%	7.51%	+5.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.06%	9.10%	+6.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.85%	9.30%	+6.55%

SWQRX vs. FATKX - Expense Ratio Comparison

SWQRX has a 0.00% expense ratio, which is lower than FATKX's 0.42% expense ratio.

Dividends

SWQRX vs. FATKX - Dividend Comparison

SWQRX's dividend yield for the trailing twelve months is around 2.83%, less than FATKX's 7.89% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FATKX Fidelity Freedom 2020 Fund Class K6	7.89%	7.70%	8.73%	2.94%	10.06%	12.30%	6.93%	6.79%	7.43%	3.18%
SWQRX Schwab Target 2065 Fund	2.83%	3.16%	2.92%	3.31%	5.00%	2.69%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SWQRX and FATKX in my portfolio?

With a correlation of 0.94, SWQRX and FATKX 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, SWQRX or FATKX?

SWQRX has higher volatility (5.06%) compared to FATKX (3.16%). In terms of maximum drawdown, SWQRX dropped -28.26% vs FATKX's -22.44%.

Which has better risk-adjusted returns?

FATKX currently has the higher Sharpe Ratio (2.31 vs 2.15), 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.