Fund Evaluator:
Fidelity Advisor Freedom 2070 Z (FRBOX)
Follow This Fund
Best Performing in Target-Date 2070+ Over the Last Year
| 26.1% | Fidelity Advisor Freedom Blend 2070 Z (FRCNX) |
| 26.0% | Fidelity Advisor Freedom Blend 2070 I (FRCLX) |
| 25.3% | Fidelity Advisor Sust Trgt Dt 2070 Z (FRDEX) |
| 24.1% | BlackRock LifePath® ESG Idx 2070 Inv A (LEYAX) |
| 24.1% | Fidelity Advisor Freedom 2070 Z (FRBOX) |
Fund Details
Fidelity Advisor Freedom 2070 Z Overview
Fidelity Advisor Freedom 2070 Z (FRBOX) is an actively managed Allocation Target-Date 2070+ fund. Fidelity Investments launched the fund in 2024.
The investment seeks high total return with a secondary objective of principal preservation as the fund approaches its target date and beyond. Investing primarily in a combination of Fidelity® U.S. equity funds, international equity funds, bond funds, and short-term funds (underlying Fidelity® Funds). The adviser, under normal market conditions, will make investments that are consistent with seeking high total return for several years beyond the fund’s target retirement date in an effort to achieve the fund’s overall investment objective.
About Fidelity Advisor Freedom 2070 Z (FRBOX)
There are 4 members of the management team with an average tenure of 1.55 years: Andrew Dierdorf (2024), Brett Sumsion (2024), Finola McGuire Foley (2025), Cait Dourney Earle (2025). Management tenure is more important for actively managed funds than passive index funds.
Fidelity Advisor Freedom 2070 Z has 26 securities in its portfolio. The top 10 holdings constitute 80.1% 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 2070 Z is part of the Allocation global asset class and is within the Allocation fund group. Fidelity Advisor Freedom 2070 Z has 45.6% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 49.3%. There is 45.6% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 2.9% (2.9% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Fidelity Advisor Freedom 2070 Z has 1.4% of the portfolio in cash.
Assets Under Management
The fund has $10 million in total assets, which is below the $34 million average for the Target-Date 2070+ 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.
FRBOX 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 2070 Z expense ratio is above average compared to funds in the Target-Date 2070+ category. Fidelity Advisor Freedom 2070 Z has an expense ratio of 0.65%, which is 3% 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 2070 Z has a portfolio turnover rate of 24%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 18% for the Target-Date 2070+ category.
Recently, in the month of June 2026, Fidelity Advisor Freedom 2070 Z returned 1.3%, which earned it a grade of A, as the Target-Date 2070+ category had an average return of 0.4%. 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 2070 Z has a trailing yield of 1.19%, which is below the 1.45% 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 2070 Z Grades
Year to date, the fund has returned 13.2%, 1.6 percentage points better than the category, which translates into a grade of A. The fund has returned 24.1% over the past year (grade of B).
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FRBOX 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 |
|
| FRBOX Return (NAV) | 1.3% | 14.3% | 24.1% | na | na | na |
| FRBOX Grade | A | B | B | na | na | na |
| +/- Category | 0.9% | 0.7% | 0.8% | na | na | na |
| Target-Date 2070+ Avg | 0.4% | 13.6% | 23.3% | 16.7% | na | na |
| FRBOX Tax Cost Ratio | na | na | 1.1% | na | na | na |
FRBOX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| FRBOX Return (NAV) | 13.2% | 22.7% | na | na | na | na | na | na | na | na | na |
| FRBOX Grade | A | A | na | na | na | na | na | na | na | na | na |
| +/- Category | 1.6% | 1.6% | na | na | na | na | na | na | na | na | na |
| Target-Date 2070+ Avg | 11.6% | 21.1% | 14.2% | 20.2% | na | na | na | na | na | na | na |
| Risk Measures | |
| Standard Deviation: | na |
| Total Risk Index: | na |
| Category Risk Index: | na |
| Category Risk Grade: | |
| Beta: | na |
| R-Squared: | na |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | na |
| Yield: | 1.2% |
| Dividend Distribution: | Semi-Annually |
| Cap Gains Distribution: | Semi-Annually |
| Total Assets: | $26 Mil |
| Fund Total Assets: | $ 11 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 24% |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 2.0 years | |||
| Average Tenure: 1.5 years | |||
| Managers (Year): Dierdorf Andrew (2024), Sumsion Brett (2024), McGuire Foley Finola (2025), Dourney Earle Cait (2025) | |||
Portfolio Composition (as of 5/31/26)
| # of Holdings: | 26 |
| % in Top 10 Holdings: | 80.1% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 45.6% |
Portfolio Allocation |
|
| Domestic Stock: | 49.3% |
| Foreign Stock: | 45.6% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 2.9% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.9% |
| Cash: | 1.4% |
Purchase Information
| Fund Family: | Fidelity Investments |
| Phone Number: | 877-208-0098 |
| Website: | www.institutional.fidelity.com |
| Status: | Open |
| Inception Date: | June 28, 2024 |
| 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 (%): | 0.65% ( Rating : Above Avg ) |
| Category Average Expense Ratio (%): | 0.67% |
| Share Class: | Fidelity Advisor Freedom 2070 K6 |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
