TRIKX vs. FFFAX

Last updated Apr 2, 2026

Compare and contrast key facts about T. Rowe Price Retirement 2045 Fund Class I (TRIKX) and Fidelity Freedom Income Fund (FFFAX).

TRIKX is a passively managed fund by T. Rowe Price that tracks the performance of the S&P Target Date 2045. It was launched on Nov 13, 2023. FFFAX is managed by Fidelity. It was launched on Oct 17, 1996.

Performance

TRIKX vs. FFFAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Retirement 2045 Fund Class I (TRIKX) and Fidelity Freedom Income Fund (FFFAX). The values are adjusted to include any dividend payments, if applicable.

TRIKX vs. FFFAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
TRIKX T. Rowe Price Retirement 2045 Fund Class I	-0.91%	18.71%	14.23%	7.04%
FFFAX Fidelity Freedom Income Fund	0.45%	10.42%	4.34%	4.52%

Returns By Period

In the year-to-date period, TRIKX achieves a -0.91% return, which is significantly lower than FFFAX's 0.45% return.

TRIKX

• 1D: 2.73%
• 1M: -6.29%
• YTD: -0.91%
• 6M: 1.62%
• 1Y: 17.01%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FFFAX

• 1D: 0.98%
• 1M: -2.22%
• YTD: 0.45%
• 6M: 1.62%
• 1Y: 8.19%
• 3Y*: 6.51%
• 5Y*: 2.71%
• 10Y*: 4.24%

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

TRIKX vs. FFFAX - Expense Ratio Comparison

TRIKX has a 0.43% expense ratio, which is lower than FFFAX's 0.47% expense ratio.

FFFAX

Fidelity Freedom Income Fund

TRIKX

T. Rowe Price Retirement 2045 Fund Class I

Return for Risk

TRIKX vs. FFFAX — Risk / Return Rank

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

TRIKX

TRIKX Risk / Return Rank: 53
TRIKX Sharpe Ratio Rank: 51
TRIKX Sortino Ratio Rank: 51
TRIKX Omega Ratio Rank: 53
TRIKX Calmar Ratio Rank: 49
TRIKX Martin Ratio Rank: 59

FFFAX

FFFAX Risk / Return Rank: 87
FFFAX Sharpe Ratio Rank: 87
FFFAX Sortino Ratio Rank: 88
FFFAX Omega Ratio Rank: 84
FFFAX Calmar Ratio Rank: 87
FFFAX Martin Ratio Rank: 87

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.

TRIKX vs. FFFAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Retirement 2045 Fund Class I (TRIKX) 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.

	TRIKX	FFFAX	Difference
Sharpe ratio Return per unit of total volatility	1.11	1.75	-0.64
Sortino ratio Return per unit of downside risk	1.61	2.45	-0.84
Omega ratio Gain probability vs. loss probability	1.24	1.35	-0.10
Calmar ratio Return relative to maximum drawdown	1.52	2.31	-0.79
Martin ratio Return relative to average drawdown	6.87	9.52	-2.65
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TRIKX vs. FFFAX - Sharpe Ratio Comparison

The current TRIKX Sharpe Ratio is 1.11, which is lower than the FFFAX Sharpe Ratio of 1.75. The chart below compares the historical Sharpe Ratios of TRIKX 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

	TRIKX	FFFAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.11	1.75	-0.64
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.52	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.93	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.24	1.03	+0.21

Correlation

The correlation between TRIKX and FFFAX is 0.70, 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

TRIKX vs. FFFAX - Dividend Comparison

TRIKX's dividend yield for the trailing twelve months is around 3.99%, more than FFFAX's 3.24% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TRIKX T. Rowe Price Retirement 2045 Fund Class I	3.99%	3.95%	2.21%	4.42%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FFFAX Fidelity Freedom Income Fund	3.24%	3.29%	3.13%	2.92%	5.89%	6.12%	4.37%	3.65%	5.17%	3.74%	3.21%	3.28%

Drawdowns

TRIKX vs. FFFAX - Drawdown Comparison

The maximum TRIKX drawdown since its inception was -15.16%, smaller than the maximum FFFAX drawdown of -17.96%. Use the drawdown chart below to compare losses from any high point for TRIKX and FFFAX.

Drawdown Indicators

	TRIKX	FFFAX	Difference
Max Drawdown Largest peak-to-trough decline	-15.16%	-17.96%	+2.80%
Max Drawdown (1Y) Largest decline over 1 year	-11.42%	-3.68%	-7.74%
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	-7.05%	-2.56%	-4.49%
Average Drawdown Average peak-to-trough decline	-1.55%	-1.80%	+0.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.53%	0.89%	+1.64%

Volatility

TRIKX vs. FFFAX - Volatility Comparison

T. Rowe Price Retirement 2045 Fund Class I (TRIKX) has a higher volatility of 5.87% compared to Fidelity Freedom Income Fund (FFFAX) at 2.44%. This indicates that TRIKX'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

	TRIKX	FFFAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.87%	2.44%	+3.43%
Volatility (6M) Calculated over the trailing 6-month period	9.21%	3.29%	+5.92%
Volatility (1Y) Calculated over the trailing 1-year period	15.73%	4.88%	+10.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.49%	5.30%	+8.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.49%	4.58%	+8.91%