TCLTX vs. FQLSX

Last updated Jun 4, 2026

TCLTX (TIAA-CREF Lifecycle 2020 Fund) and FQLSX (Fidelity Flex Freedom Blend 2055 Fund) are both Target Retirement Date funds. Over the past 5 years, TCLTX returned 4.79%/yr vs 11.34%/yr for FQLSX. With a 0.95 correlation, they move nearly in lockstep. TCLTX charges 0.52%/yr vs 0.00%/yr for FQLSX.

Performance

TCLTX vs. FQLSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TIAA-CREF Lifecycle 2020 Fund (TCLTX) and Fidelity Flex Freedom Blend 2055 Fund (FQLSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TCLTX achieves a 5.00% return, which is significantly lower than FQLSX's 14.07% return.

TCLTX

• 1D: 0.27%
• 1M: 2.26%
• YTD: 5.00%
• 6M: 5.36%
• 1Y: 13.91%
• 3Y*: 10.60%
• 5Y*: 4.79%
• 10Y*: 6.77%

FQLSX

• 1D: 0.65%
• 1M: 5.43%
• YTD: 14.07%
• 6M: 15.67%
• 1Y: 31.25%
• 3Y*: 22.00%
• 5Y*: 11.34%
• 10Y*: —

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

TCLTX vs. FQLSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TCLTX TIAA-CREF Lifecycle 2020 Fund	5.00%	12.09%	8.17%	11.68%	-13.76%	8.19%	12.11%	17.49%	-5.43%	4.99%
FQLSX Fidelity Flex Freedom Blend 2055 Fund	14.07%	22.80%	18.08%	21.04%	-18.58%	16.89%	18.43%	25.96%	-8.31%	10.12%

Correlation

The correlation between TCLTX and FQLSX is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (All Time) Calculated using the full available price history since Jun 16, 2017	0.95

The correlation between TCLTX and FQLSX has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.

Return for Risk

TCLTX vs. FQLSX — Risk / Return Rank

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

TCLTX

TCLTX Risk / Return Rank: 65
TCLTX Sharpe Ratio Rank: 67
TCLTX Sortino Ratio Rank: 71
TCLTX Omega Ratio Rank: 70
TCLTX Calmar Ratio Rank: 54
TCLTX Martin Ratio Rank: 64

FQLSX

FQLSX Risk / Return Rank: 74
FQLSX Sharpe Ratio Rank: 76
FQLSX Sortino Ratio Rank: 70
FQLSX Omega Ratio Rank: 70
FQLSX Calmar Ratio Rank: 74
FQLSX Martin Ratio Rank: 79

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.

TCLTX vs. FQLSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TIAA-CREF Lifecycle 2020 Fund (TCLTX) and Fidelity Flex Freedom Blend 2055 Fund (FQLSX). 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.

	TCLTX	FQLSX	Difference
Sharpe ratio: Return per unit of total volatility	2.39	2.54	-0.15
Sortino ratio: Return per unit of downside risk	3.52	3.50	+0.02
Omega ratio: Gain probability vs. loss probability	1.47	1.47	0.00
Calmar ratio: Return relative to maximum drawdown	2.82	3.36	-0.54
Martin ratio: Return relative to average drawdown	12.45	14.85	-2.40
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TCLTX vs. FQLSX - Sharpe Ratio Comparison

The current TCLTX Sharpe Ratio is 2.39, which is comparable to the FQLSX Sharpe Ratio of 2.54. The chart below compares the historical Sharpe Ratios of TCLTX and FQLSX, 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

	TCLTX	FQLSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.39	2.54	-0.15
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.63	0.75	-0.12
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.81	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	0.78	-0.26

Drawdowns

TCLTX vs. FQLSX - Drawdown Comparison

The maximum TCLTX drawdown since its inception was -44.15%, which is greater than FQLSX's maximum drawdown of -31.26%. Use the drawdown chart below to compare losses from any high point for TCLTX and FQLSX.

Drawdown Indicators

	TCLTX	FQLSX	Difference
Max Drawdown Largest peak-to-trough decline	-44.15%	-31.26%	-12.89%
Max Drawdown (1Y) Largest decline over 1 year	-5.01%	-9.48%	+4.47%
Max Drawdown (3Y) Largest decline over 3 years	-6.99%	-15.37%	+8.38%
Max Drawdown (5Y) Largest decline over 5 years	-18.99%	-27.41%	+8.42%
Max Drawdown (10Y) Largest decline over 10 years	-20.39%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-5.20%	-5.43%	+0.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.13%	2.14%	-1.01%

Volatility

TCLTX vs. FQLSX - Volatility Comparison

The current volatility for TIAA-CREF Lifecycle 2020 Fund (TCLTX) is 1.92%, while Fidelity Flex Freedom Blend 2055 Fund (FQLSX) has a volatility of 4.13%. This indicates that TCLTX experiences smaller price fluctuations and is considered to be less risky than FQLSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TCLTX	FQLSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.92%	4.13%	-2.21%
Volatility (6M) Calculated over the trailing 6-month period	4.75%	10.29%	-5.54%
Volatility (1Y) Calculated over the trailing 1-year period	5.90%	12.54%	-6.64%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.64%	15.12%	-7.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.35%	16.08%	-7.73%

TCLTX vs. FQLSX - Expense Ratio Comparison

TCLTX has a 0.52% expense ratio, which is higher than FQLSX's 0.00% expense ratio.

Dividends

TCLTX vs. FQLSX - Dividend Comparison

TCLTX's dividend yield for the trailing twelve months is around 4.27%, less than FQLSX's 4.59% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FQLSX Fidelity Flex Freedom Blend 2055 Fund	4.59%	3.32%	7.20%	2.08%	5.79%	8.05%	5.76%	7.02%	8.18%	3.10%	0.00%	0.00%
TCLTX TIAA-CREF Lifecycle 2020 Fund	4.27%	4.49%	3.33%	2.38%	5.36%	7.49%	4.91%	3.36%	6.53%	2.44%	5.09%	4.63%

Frequently Asked Questions

Can I hold both TCLTX and FQLSX in my portfolio?

With a correlation of 0.96, TCLTX and FQLSX 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, TCLTX or FQLSX?

FQLSX has higher volatility (4.13%) compared to TCLTX (1.92%). In terms of maximum drawdown, TCLTX dropped -44.15% vs FQLSX's -31.26%.

Which has better risk-adjusted returns?

FQLSX currently has the higher Sharpe Ratio (2.54 vs 2.39), 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.