Fund Evaluator:
Fidelity Advisor Freedom 2020 Z (FIJLX)
Follow This Fund
Best Performing in Target-Date 2020 Over the Last Year
| 14.2% | Fidelity Advisor Freedom Blend 2020 Z (FJAIX) |
| 13.5% | Fidelity Advisor Sust Trgt Dt 2020 Z (FSWKX) |
| 13.2% | Fidelity Advisor Freedom 2020 Z (FIJLX) |
| 12.9% | T. Rowe Price Retirement 2020 (TRRBX) |
| 12.4% | Fidelity Freedom Index 2020 Investor (FPIFX) |
Fund Details
Fidelity Advisor Freedom 2020 Z Overview
Fidelity Advisor Freedom 2020 Z (FIJLX) is an actively managed Allocation Target-Date 2020 fund. Fidelity Investments launched the fund in 2018.
The investment seeks high total return with a secondary objective of principal preservation as the fund approaches its target date and beyond. The fund invests primarily in a combination of Fidelity® U.S. equity funds, international equity funds, bond funds, and short-term funds (underlying Fidelity ® funds). The adviser allocates assets according to a neutral asset allocation strategy that adjusts over time until it reaches an allocation similar to that of the Fidelity Advisor Freedom® Income Fund.
About Fidelity Advisor Freedom 2020 Z (FIJLX)
There are 4 members of the management team with an average tenure of 7.41 years: Andrew Dierdorf (2011), Brett Sumsion (2014), Finola McGuire Foley (2025), Cait Dourney Earle (2025). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: Bloomberg US Agg Bond TR USD index with a weighting of 100%. Fidelity Advisor Freedom 2020 Z has 48 securities in its portfolio. The top 10 holdings constitute 70.5% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Fidelity Advisor Freedom 2020 Z is part of the Allocation global asset class and is within the Allocation fund group. Fidelity Advisor Freedom 2020 Z has 30.2% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 23.7%. There is 23.9% allocated to foreign stock, and 0.1% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 50.7% (44.3% domestic bond, 6.3% foreign bond and 0.0% convertible bond). Fidelity Advisor Freedom 2020 Z has 1.3% of the portfolio in cash.
Assets Under Management
The fund has $202 million in total assets, which is below the $928 million average for the Target-Date 2020 category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
FIJLX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Fidelity Advisor Freedom 2020 Z expense ratio is average compared to funds in the Target-Date 2020 category. Fidelity Advisor Freedom 2020 Z has an expense ratio of 0.48%, which is 15% lower than its category average, making the fund expense ratio grade a C. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Fidelity Advisor Freedom 2020 Z has a portfolio turnover rate of 17%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 20% for the Target-Date 2020 category.
Recently, in the month of June 2026, Fidelity Advisor Freedom 2020 Z returned 0.5%, which earned it a grade of A, as the Target-Date 2020 category had an average return of 0.2%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Fidelity Advisor Freedom 2020 Z has a trailing yield of 2.51%, which is below the 2.77% category average. The fund normally distributes its income semi-annually and its capital gains semi-annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Fidelity Advisor Freedom 2020 Z Grades
Year to date, the fund has returned 6.8%, 1.0 percentage points better than the category, which translates into a grade of A. The fund has returned 13.2% over the past year (grade of B), 11.3% over the past three years (grade of A) and 4.8% per year over the past five years (grade of C) and 7.6% per year over the past 10 years (grade of A).
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FIJLX Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| FIJLX Return (NAV) | 0.5% | 6.9% | 13.2% | 11.3% | 4.8% | 7.6% |
| FIJLX Grade | A | B | B | A | C | A |
| +/- Category | 0.4% | 0.7% | 1.1% | 0.8% | -0.0% | 0.6% |
| Target-Date 2020 Avg | 0.2% | 6.2% | 12.0% | 10.5% | 4.8% | 7.0% |
| FIJLX Tax Cost Ratio | na | na | 2.2% | 1.8% | 1.9% | na |
FIJLX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| FIJLX Return (NAV) | 6.8% | 14.7% | 7.2% | 12.4% | -16.1% | 8.7% | 13.4% | 18.8% | -4.8% | 15.3% | 7.2% |
| FIJLX Grade | A | A | D | B | F | D | A | A | C | A | B |
| +/- Category | 1.0% | 1.8% | -0.4% | 0.7% | -1.7% | -0.6% | 1.5% | 1.7% | -0.3% | 1.9% | 0.6% |
| Target-Date 2020 Avg | 5.8% | 12.9% | 7.6% | 11.7% | -14.3% | 9.3% | 11.9% | 17.1% | -4.5% | 13.3% | 6.7% |
| Risk Measures | |
| Standard Deviation: | 8.0% |
| Total Risk Index: | 0.66 - Below Average |
| Category Risk Index: | 1.08 - High |
| Category Risk Grade: | F (83% Rank) |
| Beta: | 0.85 |
| R-Squared: | 98% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | High Quality Moderate Sensitivity |
| Yield: | 2.5% |
| Dividend Distribution: | Semi-Annually |
| Cap Gains Distribution: | Semi-Annually |
| Total Assets: | $1059 Mil |
| Fund Total Assets: | $ 202 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 17% |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 15.0 years | |||
| Average Tenure: 7.4 years | |||
| Managers (Year): Dierdorf Andrew (2011), Sumsion Brett (2014), McGuire Foley Finola (2025), Dourney Earle Cait (2025) | |||
Portfolio Composition (as of 5/31/26)
| # of Holdings: | 48 |
| % in Top 10 Holdings: | 70.5% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 30.2% |
Portfolio Allocation |
|
| Domestic Stock: | 23.7% |
| Foreign Stock: | 23.9% |
| Preferred Stock: | 0.1% |
| Domestic Bond: | 44.3% |
| Foreign Bond: | 6.3% |
| Convertible Bond: | 0.0% |
| Other: | 0.4% |
| Cash: | 1.3% |
Purchase Information
| Fund Family: | Fidelity Investments |
| Phone Number: | 877-208-0098 |
| Website: | www.institutional.fidelity.com |
| Status: | Open |
| Inception Date: | October 2, 2018 |
| Min. Initial Purchase: | $ 0 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.48% ( Rating : Avg ) |
| Category Average Expense Ratio (%): | 0.56% |
| Share Class: | Fidelity Advisor Freedom 2020 I |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
