FAVOX — Fidelity Freedom Index 2040 Fund, Premier II Class
Data updated: 2026-08-24
FAVOX — Fidelity Freedom Index 2040 Fund, Premier II Class. 0.04% expense ratio · since 2024 · Target-Date. Holdings, fees, performance and SEC filings.
FAVOX Fund Overview
FAVOX — Fidelity Freedom Index 2040 Fund, Premier II Class is a US mutual fund managed by Fidelity Management & Research Company LLC, categorised as Target-Date. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Adviser: Fidelity Management & Research Company LLC
- Trust: Fidelity Aberdeen Street Trust
- Category: Target-Date
- Inception date: August 22, 2024
- Assets under management: $34.88B
- 1-year return: 20.8%
- Ticker: FAVOX
- SEC CIK: 0000880195
- SEC series ID: S000026419
- Share class ID: C000252921
- FIGI: BBG01P0YTKJ2
- LEI: 549300V4PJIH00UCCQ06
About FAVOX
Fidelity Freedom Index 2040 Fund (FAVOX) seeks high total return until its target retirement date, after which its objective shifts to high current income and, as a secondary objective, capital appreciation. The fund invests primarily in a mix of Fidelity U.S. equity, international equity, bond, and short-term index funds, following an asset allocation glide path that adjusts over time toward that of the Fidelity Freedom Index Retirement Fund. Its Premier II Class shares, launched August 22, 2024, cost 0.04% a year and returned 20.8% in the 12 months to June 30, 2026, based on monthly returns reported to the SEC on Form N-PORT, with 10.5% volatility.
FAVOX Holdings
Top 5 holdings of Fidelity Freedom Index 2040 Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Fidelity Concord Street Trust | 47.49% |
| Fidelity Salem Street Trust | 31.90% |
| Fidelity Salem Street Trust | 12.83% |
| Fidelity Salem Street Trust | 4.62% |
| Fidelity School Street Trust | 3.11% |
FAVOX Portfolio Allocation
Asset-class allocation of Fidelity Freedom Index 2040 Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 99.9% |
FAVOX Performance
Total returns for FAVOX through June 2026, from SEC filings.
| Period | Total return |
|---|---|
| YTD | 10.25% |
| 1 year | 20.81% |
FAVOX Risk Information
Risk metrics for FAVOX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 10.54%
FAVOX Costs and Fees
FAVOX costs about $4 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.04%
- Gross expense ratio: 0.04%
- Portfolio turnover: 13%
- Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)
FAVOX Cashflows
Over the 12 months to 2026-06, Fidelity Freedom Index 2040 Fund had net inflows of $3.43B, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | $314.47M |
| 2026-05 | $373.43M |
| 2026-04 | $258.35M |
| 2026-03 | $558.35M |
| 2026-02 | $307.53M |
| 2026-01 | $291.65M |
FAVOX Debt Constituents
No individual debt constituents are reported in Fidelity Freedom Index 2040 Fund's latest SEC N-PORT filing.
FAVOX Prospectus and SEC Filings
Official Fidelity Freedom Index 2040 Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-05-26
- Prospectus (485BPOS) — filed 2025-05-27
- Prospectus (497) — filed 2025-09-09
- Portfolio holdings (N-PORT) — filed 2026-08-24
- Portfolio holdings (N-PORT) — filed 2026-05-26
- Portfolio holdings (N-PORT) — filed 2026-02-24
- Annual census (N-CEN) — filed 2026-06-11
- Annual census (N-CEN) — filed 2025-06-12
FAVOX Service Providers
Firms that manage, distribute, hold, administer and audit Fidelity Freedom Index 2040 Fund, as reported on SEC Form N-CEN, fiscal year ending March 31, 2026.
- Adviser: Fidelity Management & Research Company LLC
- Distributor: Fidelity Distributors Company LLC
- Custodian: State Street Bank and Trust Company
- Transfer agent: Fidelity Investments Institutional Operations Company LLC
- Administrator: Fidelity Service Company
- Auditors: Deloitte & Touche LLP and PricewaterhouseCoopers LLP
Related Funds
Other Target-Date funds tracked on ABC INVEST:
FAVOX: Frequently Asked Questions
What is the expense ratio of Fidelity Freedom Index 2040 Fund (FAVOX)?
FAVOX has a net expense ratio of 0.04%, about $4 a year for every $10,000 invested. FAVOX fees and costs
What are FAVOX's top holdings?
As of June 30, 2026, FAVOX held 5 positions. The largest are Fidelity Concord Street Trust (47.49%), Fidelity Salem Street Trust (31.90%), Fidelity Salem Street Trust (12.83%), Fidelity Salem Street Trust (4.62%) and Fidelity School Street Trust (3.11%). All FAVOX holdings
How has Fidelity Freedom Index 2040 Fund performed?
FAVOX returned +20.8% over the 12 months to June 2026. FAVOX performance and risk
How large is FAVOX?
FAVOX manages $34.88B (SEC N-PORT, June 2026). Investors added a net $3.43B over the past 12 months.
Who manages FAVOX and when did it launch?
FAVOX is managed by Fidelity Management & Research Company LLC. It is a series of Fidelity Aberdeen Street Trust. It launched on August 22, 2024.
How does FAVOX compare with similar Target-Date funds?
Among 324 Target-Date funds with $100M+ in assets, FAVOX has the lowest net expense ratio (0.04%) and ranks #17 of 324 by assets. The largest is Vanguard Target Retirement 2035 Fund (VTTHX). Compare FAVOX with VTTHX
Where can I find FAVOX's prospectus and SEC filings?
FAVOX's latest prospectus (485BPOS) was filed May 26, 2026 and its latest N-PORT holdings report was filed August 24, 2026. All 62 filings are linked on ABC INVEST and on SEC EDGAR (series S000026419). FAVOX SEC filings
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, and annual data from Form N-CEN.
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.