TBLAX vs. FFFAX

Last updated Apr 1, 2026

Compare and contrast key facts about T. Rowe Price Retirement Blend 2005 Fund (TBLAX) and Fidelity Freedom Income Fund (FFFAX).

TBLAX is managed by T. Rowe Price. It was launched on Jul 25, 2021. FFFAX is managed by Fidelity. It was launched on Oct 17, 1996.

Performance

TBLAX vs. FFFAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Retirement Blend 2005 Fund (TBLAX) and Fidelity Freedom Income Fund (FFFAX). The values are adjusted to include any dividend payments, if applicable.

TBLAX vs. FFFAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
TBLAX T. Rowe Price Retirement Blend 2005 Fund	-1.62%	12.08%	8.71%	12.41%	-13.11%	1.40%
FFFAX Fidelity Freedom Income Fund	-0.53%	10.42%	4.34%	8.18%	-11.33%	-0.21%

Returns By Period

In the year-to-date period, TBLAX achieves a -1.62% return, which is significantly lower than FFFAX's -0.53% return.

TBLAX

• 1D: 0.00%
• 1M: -4.52%
• YTD: -1.62%
• 6M: 0.08%
• 1Y: 8.81%
• 3Y*: 8.87%
• 5Y*: —
• 10Y*: —

FFFAX

• 1D: 0.18%
• 1M: -3.50%
• YTD: -0.53%
• 6M: 0.90%
• 1Y: 7.44%
• 3Y*: 6.16%
• 5Y*: 2.61%
• 10Y*: 4.13%

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

TBLAX vs. FFFAX - Expense Ratio Comparison

TBLAX has a 0.19% expense ratio, which is lower than FFFAX's 0.47% expense ratio.

FFFAX

Fidelity Freedom Income Fund

TBLAX

T. Rowe Price Retirement Blend 2005 Fund

Return for Risk

TBLAX vs. FFFAX — Risk / Return Rank

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

TBLAX

TBLAX Risk / Return Rank: 71
TBLAX Sharpe Ratio Rank: 71
TBLAX Sortino Ratio Rank: 72
TBLAX Omega Ratio Rank: 72
TBLAX Calmar Ratio Rank: 67
TBLAX Martin Ratio Rank: 74

FFFAX

FFFAX Risk / Return Rank: 83
FFFAX Sharpe Ratio Rank: 83
FFFAX Sortino Ratio Rank: 84
FFFAX Omega Ratio Rank: 80
FFFAX Calmar Ratio Rank: 83
FFFAX Martin Ratio Rank: 84

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.

TBLAX vs. FFFAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Retirement Blend 2005 Fund (TBLAX) and Fidelity Freedom Income Fund (FFFAX). 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.

	TBLAX	FFFAX	Difference
Sharpe ratio Return per unit of total volatility	1.28	1.56	-0.28
Sortino ratio Return per unit of downside risk	1.81	2.16	-0.35
Omega ratio Gain probability vs. loss probability	1.27	1.31	-0.03
Calmar ratio Return relative to maximum drawdown	1.56	2.05	-0.49
Martin ratio Return relative to average drawdown	7.02	8.59	-1.57
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TBLAX vs. FFFAX - Sharpe Ratio Comparison

The current TBLAX Sharpe Ratio is 1.28, which is comparable to the FFFAX Sharpe Ratio of 1.56. The chart below compares the historical Sharpe Ratios of TBLAX and FFFAX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	TBLAX	FFFAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.28	1.56	-0.28
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.50	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.91	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.50	1.02	-0.52

Correlation

The correlation between TBLAX and FFFAX is 0.82, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

TBLAX vs. FFFAX - Dividend Comparison

TBLAX's dividend yield for the trailing twelve months is around 3.70%, more than FFFAX's 3.27% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TBLAX T. Rowe Price Retirement Blend 2005 Fund	3.70%	3.64%	2.33%	2.45%	3.65%	2.07%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FFFAX Fidelity Freedom Income Fund	3.27%	3.29%	3.13%	2.92%	5.89%	6.12%	4.37%	3.65%	5.17%	3.74%	3.21%	3.28%

Drawdowns

TBLAX vs. FFFAX - Drawdown Comparison

The maximum TBLAX drawdown since its inception was -18.31%, roughly equal to the maximum FFFAX drawdown of -17.96%. Use the drawdown chart below to compare losses from any high point for TBLAX and FFFAX.

Drawdown Indicators

	TBLAX	FFFAX	Difference
Max Drawdown Largest peak-to-trough decline	-18.31%	-17.96%	-0.35%
Max Drawdown (1Y) Largest decline over 1 year	-5.35%	-3.68%	-1.67%
Max Drawdown (5Y) Largest decline over 5 years	—	-15.87%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-15.87%	—
Current Drawdown Current decline from peak	-4.61%	-3.50%	-1.11%
Average Drawdown Average peak-to-trough decline	-4.74%	-1.80%	-2.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.19%	0.88%	+0.31%

Volatility

TBLAX vs. FFFAX - Volatility Comparison

T. Rowe Price Retirement Blend 2005 Fund (TBLAX) has a higher volatility of 2.46% compared to Fidelity Freedom Income Fund (FFFAX) at 2.17%. This indicates that TBLAX's price experiences larger fluctuations and is considered to be riskier than FFFAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TBLAX	FFFAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.46%	2.17%	+0.29%
Volatility (6M) Calculated over the trailing 6-month period	4.12%	3.15%	+0.97%
Volatility (1Y) Calculated over the trailing 1-year period	7.01%	4.80%	+2.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.52%	5.28%	+2.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.52%	4.57%	+2.95%