TRRKX vs. FFGZX
TRRKX (T. Rowe Price Retirement 2045 Fund) and FFGZX (Fidelity Freedom Index Income Fund Institutional Premium Class) are both Target Retirement Date funds. Over the past 10 years, TRRKX returned 11.12%/yr vs 4.26%/yr for FFGZX. A 0.71 correlation means they provide meaningful diversification when combined. TRRKX charges 0.63%/yr vs 0.08%/yr for FFGZX.
Performance
TRRKX vs. FFGZX - Performance Comparison
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Returns By Period
In the year-to-date period, TRRKX achieves a 10.90% return, which is significantly higher than FFGZX's 3.98% return. Over the past 10 years, TRRKX has outperformed FFGZX with an annualized return of 11.12%, while FFGZX has yielded a comparatively lower 4.26% annualized return.
TRRKX
- 1D
- 1.15%
- 1M
- 1.33%
- YTD
- 10.90%
- 6M
- 10.68%
- 1Y
- 20.73%
- 3Y*
- 15.76%
- 5Y*
- 8.05%
- 10Y*
- 11.12%
FFGZX
- 1D
- 0.47%
- 1M
- 0.81%
- YTD
- 3.98%
- 6M
- 4.04%
- 1Y
- 9.64%
- 3Y*
- 7.32%
- 5Y*
- 3.15%
- 10Y*
- 4.26%
TRRKX vs. FFGZX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TRRKX T. Rowe Price Retirement 2045 Fund | 10.90% | 14.20% | 13.94% | 20.52% | -19.03% | 15.80% | 18.64% | 25.41% | -7.66% | 22.42% |
FFGZX Fidelity Freedom Index Income Fund Institutional Premium Class | 3.98% | 9.13% | 5.02% | 8.32% | -11.07% | 2.85% | 8.59% | 10.68% | -0.80% | 6.73% |
Correlation
The correlation between TRRKX and FFGZX is 0.82, 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 | 0.82 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.68 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.69 |
Correlation (All Time) Calculated using the full available price history since Jun 29, 2015 | 0.71 |
The correlation between TRRKX and FFGZX shifts across timeframes, from 0.68 (5 years) to 0.82 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
TRRKX vs. FFGZX — Risk / Return Rank
TRRKX
FFGZX
TRRKX vs. FFGZX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Retirement 2045 Fund (TRRKX) and Fidelity Freedom Index Income Fund Institutional Premium Class (FFGZX). 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.
| TRRKX | FFGZX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.60 | ||
| Sortino ratioReturn per unit of downside risk | -0.99 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.45 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 2.21 | 2.91 | -0.70 |
| Martin ratioReturn relative to average drawdown | 9.06 | 12.65 | -3.59 |
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Drawdowns
TRRKX vs. FFGZX - Drawdown Comparison
The maximum TRRKX drawdown since its inception was -53.54%, which is greater than FFGZX's maximum drawdown of -14.94%. Use the drawdown chart below to compare losses from any high point for TRRKX and FFGZX.
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Drawdown Indicators
| TRRKX | FFGZX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.54% | -14.94% | -38.60% |
Max Drawdown (1Y)Largest decline over 1 year | -9.49% | -3.33% | -6.16% |
Max Drawdown (3Y)Largest decline over 3 years | -15.16% | -4.76% | -10.40% |
Max Drawdown (5Y)Largest decline over 5 years | -28.75% | -14.94% | -13.81% |
Max Drawdown (10Y)Largest decline over 10 years | -32.48% | -14.94% | -17.54% |
Current DrawdownCurrent decline from peak | -0.42% | -0.29% | -0.13% |
Average DrawdownAverage peak-to-trough decline | -7.20% | -2.26% | -4.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.29% | 0.76% | +1.53% |
Volatility
TRRKX vs. FFGZX - Volatility Comparison
T. Rowe Price Retirement 2045 Fund (TRRKX) has a higher volatility of 4.76% compared to Fidelity Freedom Index Income Fund Institutional Premium Class (FFGZX) at 1.92%. This indicates that TRRKX's price experiences larger fluctuations and is considered to be riskier than FFGZX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TRRKX | FFGZX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.76% | 1.92% | +2.84% |
Volatility (6M)Calculated over the trailing 6-month period | 10.66% | 3.69% | +6.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.72% | 4.31% | +8.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.03% | 5.14% | +9.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.37% | 4.46% | +10.91% |
TRRKX vs. FFGZX - Expense Ratio Comparison
TRRKX has a 0.63% expense ratio, which is higher than FFGZX's 0.08% expense ratio.
Dividends
TRRKX vs. FFGZX - Dividend Comparison
TRRKX has not paid dividends to shareholders, while FFGZX's dividend yield for the trailing twelve months is around 3.22%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FFGZX Fidelity Freedom Index Income Fund Institutional Premium Class | 3.22% | 3.30% | 3.18% | 2.88% | 3.11% | 2.10% | 2.22% | 7.35% | 3.00% | 1.95% | 1.56% | 1.06% |
TRRKX T. Rowe Price Retirement 2045 Fund | 0.00% | 0.00% | 1.96% | 4.40% | 7.83% | 5.58% | 4.52% | 5.94% | 8.98% | 3.52% | 3.20% | 4.25% |
Frequently Asked Questions
TRRKX and FFGZX have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TRRKX has higher volatility (4.76%) compared to FFGZX (1.92%). In terms of maximum drawdown, TRRKX dropped -53.54% vs FFGZX's -14.94%.
FFGZX currently has the higher Sharpe Ratio (2.25 vs 1.65), 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.
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