TLYIX vs. FIHFX

Last updated Jun 24, 2026

TLYIX (TIAA-CREF Lifecycle Index 2035 Fund) and FIHFX (Fidelity Freedom Index 2035 Fund Investor Class) are both Target Retirement Date funds. Over the past 10 years, TLYIX returned 10.28%/yr vs 10.68%/yr for FIHFX. With a 0.99 correlation, they move nearly in lockstep. TLYIX charges 0.10%/yr vs 0.12%/yr for FIHFX.

Performance

TLYIX vs. FIHFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TIAA-CREF Lifecycle Index 2035 Fund (TLYIX) and Fidelity Freedom Index 2035 Fund Investor Class (FIHFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with TLYIX having a 8.44% return and FIHFX slightly higher at 8.46%. Both investments have delivered pretty close results over the past 10 years, with TLYIX having a 10.28% annualized return and FIHFX not far ahead at 10.68%.

TLYIX

• 1D: -0.15%
• 1M: 1.36%
• YTD: 8.44%
• 6M: 8.01%
• 1Y: 19.87%
• 3Y*: 15.18%
• 5Y*: 7.83%
• 10Y*: 10.28%

FIHFX

• 1D: -0.21%
• 1M: 1.45%
• YTD: 8.46%
• 6M: 8.08%
• 1Y: 20.02%
• 3Y*: 15.03%
• 5Y*: 7.43%
• 10Y*: 10.68%

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

TLYIX vs. FIHFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TLYIX TIAA-CREF Lifecycle Index 2035 Fund	8.44%	17.02%	11.83%	17.24%	-16.30%	13.19%	15.53%	23.03%	-5.76%	16.49%
FIHFX Fidelity Freedom Index 2035 Fund Investor Class	8.46%	17.32%	11.22%	17.25%	-17.49%	13.73%	15.54%	24.87%	-6.77%	20.35%

Correlation

The correlation between TLYIX and FIHFX is 0.99 - 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	0.99
Correlation (3Y) Calculated over the trailing 3-year period	0.99
Correlation (5Y) Calculated over the trailing 5-year period	0.99
Correlation (10Y) Calculated over the trailing 10-year period	0.99
Correlation (All Time) Calculated using the full available price history since Oct 5, 2009	0.99

The correlation between TLYIX and FIHFX has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.

Return for Risk

TLYIX vs. FIHFX — Risk / Return Rank

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

TLYIX

TLYIX Risk / Return Rank: 70
TLYIX Sharpe Ratio Rank: 70
TLYIX Sortino Ratio Rank: 69
TLYIX Omega Ratio Rank: 69
TLYIX Calmar Ratio Rank: 68
TLYIX Martin Ratio Rank: 74

FIHFX

FIHFX Risk / Return Rank: 68
FIHFX Sharpe Ratio Rank: 69
FIHFX Sortino Ratio Rank: 68
FIHFX Omega Ratio Rank: 68
FIHFX Calmar Ratio Rank: 66
FIHFX Martin Ratio Rank: 71

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.

TLYIX vs. FIHFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TIAA-CREF Lifecycle Index 2035 Fund (TLYIX) and Fidelity Freedom Index 2035 Fund Investor Class (FIHFX). 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.

	TLYIX	FIHFX	Difference
Sharpe ratio: Return per unit of total volatility	2.25	2.22	+0.02
Sortino ratio: Return per unit of downside risk	3.14	3.12	+0.02
Omega ratio: Gain probability vs. loss probability	1.42	1.42	0.00
Calmar ratio: Return relative to maximum drawdown	3.05	2.98	+0.06
Martin ratio: Return relative to average drawdown	13.11	12.75	+0.36

TLYIX vs. FIHFX - Sharpe Ratio Comparison

The current TLYIX Sharpe Ratio is 2.25, which is comparable to the FIHFX Sharpe Ratio of 2.22. The chart below compares the historical Sharpe Ratios of TLYIX and FIHFX, 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

TLYIX vs. FIHFX - Drawdown Comparison

The maximum TLYIX drawdown since its inception was -26.39%, smaller than the maximum FIHFX drawdown of -28.42%. Use the drawdown chart below to compare losses from any high point for TLYIX and FIHFX.

Drawdown Indicators

	TLYIX	FIHFX	Difference
Max Drawdown Largest peak-to-trough decline	-26.39%	-28.42%	+2.03%
Max Drawdown (1Y) Largest decline over 1 year	-6.82%	-6.99%	+0.17%
Max Drawdown (3Y) Largest decline over 3 years	-10.90%	-10.98%	+0.08%
Max Drawdown (5Y) Largest decline over 5 years	-23.24%	-24.84%	+1.60%
Max Drawdown (10Y) Largest decline over 10 years	-26.39%	-28.42%	+2.03%
Current Drawdown Current decline from peak	-0.46%	-0.48%	+0.02%
Average Drawdown Average peak-to-trough decline	-3.79%	-3.98%	+0.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.58%	1.63%	-0.05%

Volatility

TLYIX vs. FIHFX - Volatility Comparison

TIAA-CREF Lifecycle Index 2035 Fund (TLYIX) and Fidelity Freedom Index 2035 Fund Investor Class (FIHFX) have volatilities of 3.69% and 3.77%, 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

	TLYIX	FIHFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.69%	3.77%	-0.08%
Volatility (6M) Calculated over the trailing 6-month period	7.73%	7.84%	-0.11%
Volatility (1Y) Calculated over the trailing 1-year period	9.27%	9.39%	-0.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.56%	11.99%	-0.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.50%	13.40%	-0.90%

TLYIX vs. FIHFX - Expense Ratio Comparison

TLYIX has a 0.10% expense ratio, which is lower than FIHFX's 0.12% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

TLYIX vs. FIHFX - Dividend Comparison

TLYIX's dividend yield for the trailing twelve months is around 3.41%, more than FIHFX's 2.57% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIHFX Fidelity Freedom Index 2035 Fund Investor Class	2.57%	2.77%	2.50%	2.10%	2.14%	1.93%	2.15%	16.14%	2.21%	1.81%	1.95%	2.03%
TLYIX TIAA-CREF Lifecycle Index 2035 Fund	3.41%	3.70%	3.09%	2.19%	2.70%	2.89%	2.03%	2.26%	2.73%	0.15%	2.56%	0.27%

Frequently Asked Questions

Can I hold both TLYIX and FIHFX in my portfolio?

With a correlation of 0.99, TLYIX and FIHFX 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, TLYIX or FIHFX?

FIHFX has higher volatility (3.77%) compared to TLYIX (3.69%). In terms of maximum drawdown, TLYIX dropped -26.39% vs FIHFX's -28.42%.

Which has better risk-adjusted returns?

TLYIX currently has the higher Sharpe Ratio (2.25 vs 2.22), 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.