PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
VTIVX vs. FFOLX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VTIVX vs. FFOLX

Last updated Jun 4, 2026

VTIVX (Vanguard Target Retirement 2045 Fund) and FFOLX (Fidelity Freedom Index 2045 Fund Institutional Premium Class) are both Target Retirement Date funds. Over the past 10 years, VTIVX returned 11.35%/yr vs 11.93%/yr for FFOLX. With a 0.99 correlation, they move nearly in lockstep. Both charge a 0.08% expense ratio.

Performance

VTIVX vs. FFOLX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Target Retirement 2045 Fund (VTIVX) and Fidelity Freedom Index 2045 Fund Institutional Premium Class (FFOLX). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, VTIVX achieves a 11.08% return, which is significantly lower than FFOLX's 12.25% return. Over the past 10 years, VTIVX has underperformed FFOLX with an annualized return of 11.35%, while FFOLX has yielded a comparatively higher 11.93% annualized return.

VTIVX

1D
0.31%
1M
4.78%
YTD
11.08%
6M
11.92%
1Y
26.04%
3Y*
18.49%
5Y*
9.63%
10Y*
11.35%

FFOLX

1D
0.44%
1M
5.44%
YTD
12.25%
6M
13.14%
1Y
28.28%
3Y*
19.46%
5Y*
10.07%
10Y*
11.93%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VTIVX vs. FFOLX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VTIVX
Vanguard Target Retirement 2045 Fund		11.08%20.01%13.68%19.72%-17.38%16.16%16.31%24.94%-7.89%19.16%
FFOLX
Fidelity Freedom Index 2045 Fund Institutional Premium Class		12.25%21.44%14.19%19.95%-18.18%15.98%16.51%26.01%-7.20%20.57%

Correlation

The correlation between VTIVX and FFOLX 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 Jun 30, 2015

0.99

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

VTIVX vs. FFOLX - Sectors Allocation Comparison

Sectors
VTIVX
FFOLX

Technology

27.4%
25.9%

Financial Services

16.1%
17.1%

Industrials

12.3%
11.7%

Consumer Cyclical

9.4%
9.4%

Healthcare

8.3%
9.1%

Communication Services

8.0%
8.0%

Consumer Defensive

4.8%
5.2%

Energy

4.3%
4.7%

Basic Materials

4.3%
4.1%

Utilities

2.7%
2.8%

Real Estate

2.5%
2.1%

Technology

VTIVX
27.4%
FFOLX
25.9%

Financial Services

VTIVX
16.1%
FFOLX
17.1%

Industrials

VTIVX
12.3%
FFOLX
11.7%

Consumer Cyclical

VTIVX
9.4%
FFOLX
9.4%

Healthcare

VTIVX
8.3%
FFOLX
9.1%

Communication Services

VTIVX
8.0%
FFOLX
8.0%

Consumer Defensive

VTIVX
4.8%
FFOLX
5.2%

Energy

VTIVX
4.3%
FFOLX
4.7%

Basic Materials

VTIVX
4.3%
FFOLX
4.1%

Utilities

VTIVX
2.7%
FFOLX
2.8%

Real Estate

VTIVX
2.5%
FFOLX
2.1%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Vanguard Target Retirement 2045 Fund

Fidelity Freedom Index 2045 Fund Institutional Premium Class

Often compared with VTIVX:
VTIVX vs. VOOVTIVX vs. FIOFXVTIVX vs. VTTHXVTIVX vs. VTIVTIVX vs. SWYHXVTIVX vs. VTSAXVTIVX vs. VASIX
Often compared with FFOLX:
FFOLX vs. FIOFXFFOLX vs. FFOPXFFOLX vs. FXAIXFFOLX vs. SPYFFOLX vs. VOOFFOLX vs. FNSFXFFOLX vs. VTI

Return for Risk

VTIVX vs. FFOLX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VTIVX
VTIVX Risk / Return Rank: 7171
Overall Rank
VTIVX Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
VTIVX Sortino Ratio Rank: 7171
Sortino Ratio Rank
VTIVX Omega Ratio Rank: 6868
Omega Ratio Rank
VTIVX Calmar Ratio Rank: 6868
Calmar Ratio Rank
VTIVX Martin Ratio Rank: 7474
Martin Ratio Rank
FFOLX
FFOLX Risk / Return Rank: 7272
Overall Rank
FFOLX Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
FFOLX Sortino Ratio Rank: 6969
Sortino Ratio Rank
FFOLX Omega Ratio Rank: 6868
Omega Ratio Rank
FFOLX Calmar Ratio Rank: 7070
Calmar Ratio Rank
FFOLX Martin Ratio Rank: 7575
Martin Ratio Rank
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.

VTIVX vs. FFOLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Target Retirement 2045 Fund (VTIVX) and Fidelity Freedom Index 2045 Fund Institutional Premium Class (FFOLX). 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.

VTIVXFFOLXDifference
Sharpe ratioReturn per unit of total volatility
2.51
2.51

0.00

Sortino ratioReturn per unit of downside risk
3.50
3.47

+0.03

Omega ratioGain probability vs. loss probability

1.46

1.46

0.00

Calmar ratioReturn relative to maximum drawdown

3.18

3.23

-0.06

Martin ratioReturn relative to average drawdown

14.06

14.24

-0.18

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VTIVX vs. FFOLX - Sharpe Ratio Comparison

The current VTIVX Sharpe Ratio is 2.51, which is comparable to the FFOLX Sharpe Ratio of 2.51. The chart below compares the historical Sharpe Ratios of VTIVX and FFOLX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Sharpe Ratios by Period

VTIVXFFOLXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.51

2.51

0.00

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.72

0.70

+0.01

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.77

0.79

-0.02

Sharpe Ratio (All Time)

Calculated using the full available price history

0.55

0.72

-0.17

Drawdowns

VTIVX vs. FFOLX - Drawdown Comparison

The maximum VTIVX drawdown since its inception was -51.69%, which is greater than FFOLX's maximum drawdown of -30.72%. Use the drawdown chart below to compare losses from any high point for VTIVX and FFOLX.

Loading charts...

Drawdown Indicators

VTIVXFFOLXDifference

Max Drawdown

Largest peak-to-trough decline

-51.69%

-30.72%

-20.97%

Max Drawdown (1Y)

Largest decline over 1 year

-8.30%

-8.87%

+0.57%

Max Drawdown (3Y)

Largest decline over 3 years

-13.40%

-14.71%

+1.31%

Max Drawdown (5Y)

Largest decline over 5 years

-25.10%

-26.18%

+1.08%

Max Drawdown (10Y)

Largest decline over 10 years

-31.42%

-30.72%

-0.70%

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-6.33%

-4.67%

-1.66%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.87%

2.01%

-0.14%

Volatility

VTIVX vs. FFOLX - Volatility Comparison

The current volatility for Vanguard Target Retirement 2045 Fund (VTIVX) is 3.18%, while Fidelity Freedom Index 2045 Fund Institutional Premium Class (FFOLX) has a volatility of 3.43%. This indicates that VTIVX experiences smaller price fluctuations and is considered to be less risky than FFOLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

VTIVXFFOLXDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.18%

3.43%

-0.25%

Volatility (6M)

Calculated over the trailing 6-month period

8.37%

9.18%

-0.81%

Volatility (1Y)

Calculated over the trailing 1-year period

10.50%

11.43%

-0.93%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.49%

14.36%

-0.87%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

14.79%

15.16%

-0.37%

VTIVX vs. FFOLX - Expense Ratio Comparison

Both VTIVX and FFOLX have an expense ratio of 0.08%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

VTIVX vs. FFOLX - Dividend Comparison

VTIVX's dividend yield for the trailing twelve months is around 2.25%, more than FFOLX's 1.93% yield.

PositionTTM20252024202320222021202020192018201720162015
FFOLX
Fidelity Freedom Index 2045 Fund Institutional Premium Class		1.93%2.06%2.04%1.98%2.08%2.03%1.97%14.93%2.30%1.94%2.05%2.02%
VTIVX
Vanguard Target Retirement 2045 Fund		2.25%2.50%2.36%2.27%2.75%15.40%1.90%2.23%2.52%0.04%2.47%3.29%

Frequently Asked Questions

With a correlation of 1.00, VTIVX and FFOLX 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.

FFOLX has higher volatility (3.43%) compared to VTIVX (3.18%). In terms of maximum drawdown, VTIVX dropped -51.69% vs FFOLX's -30.72%.

VTIVX currently has the higher Sharpe Ratio (2.51 vs 2.51), 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.

Portfolio Optimizer

Find the right allocation for VTIVX and FFOLX

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer