Fidelity Freedom 2025 Fund Class K6 (FDTKX) is an open-end target-date mutual fund managed by Fidelity Investments that seeks high total return until its target retirement date around 2025 before becoming more conservative thereafter; it invests primarily in a combination of Fidelity U.S. equity funds, international equity funds, bond funds, and short-term funds. Core holdings include the Fidelity Series Investment Grade Bond Fund (22.41%), Fidelity Series 5+ Year Inflation-Protected Bond Index Fund (8.98%), Fidelity Series Emerging Markets Opportunities Fund (6.01%), Fidelity Series Growth Company Fund (5.69%), and Fidelity Series Large Cap Stock Fund (5.46%), with asset allocation comprising approximately 37.53% U.S. bonds, 28.59% U.S. stocks, 24.23% non-U.S. stocks, 6.96% non-U.S. bonds, and 2.01% cash. The fund targets investors who have retired or expect to retire in or within a few years of 2025 at around age 65, serving retirement plans and individual accounts in the United States with a net expense ratio of 0.32%-0.33% and total net assets of approximately $19.93-$20.04 billion.
Launched on June 7, 2017, the fund is domiciled in the United States with portfolio management led by Andrew Dierdorf (since June 30, 2011), Brett Sumsion (since January 21, 2014), and new co-managers Finola McGuire Foley and Cait Dourney (both since May 30, 2025). It forms part of Fidelity's Freedom Funds series, a lineup of 14 target-date funds that automatically adjust allocations toward conservatism as the target date nears, headquartered at Fidelity's Boston base. The fund maintains a low turnover rate of 15% and a TTM yield of 2.38%-2.61%.
Recent developments include the addition of co-managers Finola McGuire Foley and Cait Dourney effective May 30, 2025, enhancing the fund's management team amid Fidelity's ongoing review and consolidation of its mutual fund offerings through multiple equity fund mergers approved in 2025, such as Fidelity Advisor funds into Select portfolios to achieve greater scale and lower fees. For the semiannual period ending September 30, 2025, the fund posted gains consistent with its category, reflecting positive performance in its underlying Fidelity funds despite market fluctuations. No major acquisitions, partnerships, or product launches specific to FDTKX were reported in the last 1-2 years, with operations focused on U.S. investors in target-date 2025 category.