VFIFX vs. FIPFX

Last updated Jun 23, 2026

VFIFX (Vanguard Target Retirement 2050 Fund) and FIPFX (Fidelity Freedom Index 2050 Fund Investor Class) are both Target Retirement Date funds. Over the past 10 years, VFIFX returned 11.75%/yr vs 11.91%/yr for FIPFX. With a 0.99 correlation, they move nearly in lockstep. VFIFX charges 0.08%/yr vs 0.12%/yr for FIPFX.

Performance

VFIFX vs. FIPFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Target Retirement 2050 Fund (VFIFX) and Fidelity Freedom Index 2050 Fund Investor Class (FIPFX). 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 VFIFX having a 11.49% return and FIPFX slightly higher at 11.90%. Both investments have delivered pretty close results over the past 10 years, with VFIFX having a 11.75% annualized return and FIPFX not far ahead at 11.91%.

VFIFX

• 1D: 1.12%
• 1M: 1.69%
• YTD: 11.49%
• 6M: 11.33%
• 1Y: 27.52%
• 3Y*: 18.37%
• 5Y*: 10.41%
• 10Y*: 11.75%

FIPFX

• 1D: 1.23%
• 1M: 1.94%
• YTD: 11.90%
• 6M: 11.77%
• 1Y: 27.81%
• 3Y*: 18.17%
• 5Y*: 10.12%
• 10Y*: 11.91%

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

VFIFX vs. FIPFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VFIFX Vanguard Target Retirement 2050 Fund	11.49%	21.42%	14.45%	20.39%	-17.48%	16.42%	16.40%	24.99%	-7.89%	19.15%
FIPFX Fidelity Freedom Index 2050 Fund Investor Class	11.90%	21.40%	14.15%	19.91%	-18.22%	15.93%	16.46%	26.02%	-7.28%	20.54%

Correlation

The correlation between VFIFX and FIPFX is 1.00 - 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	1.00
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 VFIFX and FIPFX has been stable across timeframes, ranging from 0.99 to 1.00 - a consistent structural relationship.

Return for Risk

VFIFX vs. FIPFX — Risk / Return Rank

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

VFIFX

VFIFX Risk / Return Rank: 70
VFIFX Sharpe Ratio Rank: 71
VFIFX Sortino Ratio Rank: 66
VFIFX Omega Ratio Rank: 67
VFIFX Calmar Ratio Rank: 69
VFIFX Martin Ratio Rank: 75

FIPFX

FIPFX Risk / Return Rank: 69
FIPFX Sharpe Ratio Rank: 69
FIPFX Sortino Ratio Rank: 64
FIPFX Omega Ratio Rank: 66
FIPFX Calmar Ratio Rank: 69
FIPFX Martin Ratio Rank: 75

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.

VFIFX vs. FIPFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Target Retirement 2050 Fund (VFIFX) and Fidelity Freedom Index 2050 Fund Investor Class (FIPFX). 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.

	VFIFX	FIPFX	Difference
Sharpe ratio: Return per unit of total volatility	2.25	2.22	+0.03
Sortino ratio: Return per unit of downside risk	3.09	3.05	+0.04
Omega ratio: Gain probability vs. loss probability	1.41	1.41	0.00
Calmar ratio: Return relative to maximum drawdown	3.06	3.06	0.00
Martin ratio: Return relative to average drawdown	13.25	13.20	+0.06

VFIFX vs. FIPFX - Sharpe Ratio Comparison

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

VFIFX vs. FIPFX - Drawdown Comparison

The maximum VFIFX drawdown since its inception was -51.68%, which is greater than FIPFX's maximum drawdown of -30.71%. Use the drawdown chart below to compare losses from any high point for VFIFX and FIPFX.

Drawdown Indicators

	VFIFX	FIPFX	Difference
Max Drawdown Largest peak-to-trough decline	-51.68%	-30.71%	-20.97%
Max Drawdown (1Y) Largest decline over 1 year	-8.87%	-8.96%	+0.09%
Max Drawdown (3Y) Largest decline over 3 years	-14.54%	-14.71%	+0.17%
Max Drawdown (5Y) Largest decline over 5 years	-25.40%	-26.20%	+0.80%
Max Drawdown (10Y) Largest decline over 10 years	-31.36%	-30.71%	-0.65%
Current Drawdown Current decline from peak	-0.51%	-0.46%	-0.05%
Average Drawdown Average peak-to-trough decline	-6.87%	-4.20%	-2.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.04%	2.08%	-0.04%

Volatility

VFIFX vs. FIPFX - Volatility Comparison

The current volatility for Vanguard Target Retirement 2050 Fund (VFIFX) is 4.86%, while Fidelity Freedom Index 2050 Fund Investor Class (FIPFX) has a volatility of 5.14%. This indicates that VFIFX experiences smaller price fluctuations and is considered to be less risky than FIPFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VFIFX	FIPFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.86%	5.14%	-0.28%
Volatility (6M) Calculated over the trailing 6-month period	9.97%	10.34%	-0.37%
Volatility (1Y) Calculated over the trailing 1-year period	12.06%	12.35%	-0.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.29%	14.52%	-0.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.15%	15.23%	-0.08%

VFIFX vs. FIPFX - Expense Ratio Comparison

VFIFX has a 0.08% expense ratio, which is lower than FIPFX'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

VFIFX vs. FIPFX - Dividend Comparison

VFIFX's dividend yield for the trailing twelve months is around 1.87%, more than FIPFX's 1.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIPFX Fidelity Freedom Index 2050 Fund Investor Class	1.76%	1.97%	2.00%	1.94%	2.02%	1.93%	1.95%	15.16%	2.28%	2.05%	2.09%	2.00%
VFIFX Vanguard Target Retirement 2050 Fund	1.87%	2.09%	2.26%	2.21%	2.38%	12.83%	1.84%	2.20%	2.51%	0.03%	2.04%	2.36%

Frequently Asked Questions

Can I hold both VFIFX and FIPFX in my portfolio?

With a correlation of 1.00, VFIFX and FIPFX 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, VFIFX or FIPFX?

FIPFX has higher volatility (5.14%) compared to VFIFX (4.86%). In terms of maximum drawdown, VFIFX dropped -51.68% vs FIPFX's -30.71%.

Which has better risk-adjusted returns?

VFIFX 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.