TRRNX vs. FDEWX
TRRNX (T. Rowe Price Retirement 2055 Fund) and FDEWX (Fidelity Freedom Index 2055 Fund Investor Class) are both Target Retirement Date funds. Over the past 10 years, TRRNX returned 11.53%/yr vs 12.24%/yr for FDEWX. With a 0.97 correlation, they move nearly in lockstep. TRRNX charges 0.65%/yr vs 0.12%/yr for FDEWX.
Performance
TRRNX vs. FDEWX - Performance Comparison
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Returns By Period
In the year-to-date period, TRRNX achieves a 11.26% return, which is significantly lower than FDEWX's 11.87% return. Over the past 10 years, TRRNX has underperformed FDEWX with an annualized return of 11.53%, while FDEWX has yielded a comparatively higher 12.24% annualized return.
TRRNX
- 1D
- -0.08%
- 1M
- 1.24%
- YTD
- 11.26%
- 6M
- 10.53%
- 1Y
- 20.36%
- 3Y*
- 16.82%
- 5Y*
- 8.22%
- 10Y*
- 11.53%
FDEWX
- 1D
- -0.14%
- 1M
- 1.79%
- YTD
- 11.87%
- 6M
- 11.27%
- 1Y
- 26.79%
- 3Y*
- 18.99%
- 5Y*
- 9.89%
- 10Y*
- 12.24%
TRRNX vs. FDEWX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TRRNX T. Rowe Price Retirement 2055 Fund | 11.26% | 14.33% | 14.24% | 20.88% | -19.17% | 17.42% | 18.54% | 25.40% | -7.70% | 20.78% |
FDEWX Fidelity Freedom Index 2055 Fund Investor Class | 11.87% | 21.39% | 14.14% | 19.95% | -18.01% | 15.88% | 16.46% | 25.94% | -7.19% | 20.53% |
Correlation
The correlation between TRRNX and FDEWX is 0.94, 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 | 0.94 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Jun 3, 2011 | 0.97 |
The correlation between TRRNX and FDEWX has been stable across timeframes, ranging from 0.94 to 0.97 - a consistent structural relationship.
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Return for Risk
TRRNX vs. FDEWX — Risk / Return Rank
TRRNX
FDEWX
TRRNX vs. FDEWX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Retirement 2055 Fund (TRRNX) and Fidelity Freedom Index 2055 Fund Investor Class (FDEWX). 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.
| TRRNX | FDEWX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.60 | ||
| Sortino ratioReturn per unit of downside risk | -0.78 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.42 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 2.21 | 3.08 | -0.87 |
| Martin ratioReturn relative to average drawdown | 9.09 | 13.26 | -4.17 |
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Drawdowns
TRRNX vs. FDEWX - Drawdown Comparison
The maximum TRRNX drawdown since its inception was -53.59%, which is greater than FDEWX's maximum drawdown of -30.69%. Use the drawdown chart below to compare losses from any high point for TRRNX and FDEWX.
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Drawdown Indicators
| TRRNX | FDEWX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.59% | -30.69% | -22.90% |
Max Drawdown (1Y)Largest decline over 1 year | -9.84% | -9.07% | -0.77% |
Max Drawdown (3Y)Largest decline over 3 years | -15.61% | -14.74% | -0.87% |
Max Drawdown (5Y)Largest decline over 5 years | -28.03% | -26.22% | -1.81% |
Max Drawdown (10Y)Largest decline over 10 years | -32.54% | -30.69% | -1.85% |
Current DrawdownCurrent decline from peak | -0.55% | -0.66% | +0.11% |
Average DrawdownAverage peak-to-trough decline | -7.56% | -4.22% | -3.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.37% | 2.10% | +0.27% |
Volatility
TRRNX vs. FDEWX - Volatility Comparison
The current volatility for T. Rowe Price Retirement 2055 Fund (TRRNX) is 4.80%, while Fidelity Freedom Index 2055 Fund Investor Class (FDEWX) has a volatility of 5.06%. This indicates that TRRNX experiences smaller price fluctuations and is considered to be less risky than FDEWX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TRRNX | FDEWX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.80% | 5.06% | -0.26% |
Volatility (6M)Calculated over the trailing 6-month period | 11.10% | 10.39% | +0.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.23% | 12.43% | +0.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.43% | 14.52% | +0.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.60% | 15.23% | +0.37% |
TRRNX vs. FDEWX - Expense Ratio Comparison
TRRNX has a 0.65% expense ratio, which is higher than FDEWX's 0.12% expense ratio.
Dividends
TRRNX vs. FDEWX - Dividend Comparison
TRRNX has not paid dividends to shareholders, while FDEWX's dividend yield for the trailing twelve months is around 1.69%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FDEWX Fidelity Freedom Index 2055 Fund Investor Class | 1.69% | 1.97% | 1.98% | 1.92% | 2.24% | 1.89% | 1.85% | 10.83% | 2.36% | 1.93% | 2.42% | 2.31% |
TRRNX T. Rowe Price Retirement 2055 Fund | 0.00% | 0.00% | 1.77% | 3.81% | 7.01% | 5.83% | 3.40% | 5.41% | 7.55% | 2.12% | 2.62% | 3.50% |
Frequently Asked Questions
With a correlation of 0.94, TRRNX and FDEWX 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.
FDEWX has higher volatility (5.06%) compared to TRRNX (4.80%). In terms of maximum drawdown, TRRNX dropped -53.59% vs FDEWX's -30.69%.
FDEWX 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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