Fidelity Freedom Blend Funds · fiscal year ending March 31, 2020 A.D. Retail Class share returns...

PORTFOLIO MANAGER Q&A | AS OF SEPTEMBER 30, 2020

Fidelity Freedom® Blend Funds

Key Takeaways

• For the semiannual reporting period ending September 30, 2020, the Retail Class shares of each Fidelity Freedom® Blend Fund posted a gain, ranging from 8.38% for Fidelity Freedom® Blend Income Fund to 28.00% for Fidelity Freedom® Blend 2050 Fund. Each Fund topped its Composite index the past six months.

• Active management among the underlying investment portfolios was the primary driver of the Funds' outperformance relative to the Composite indexes the past six months.

• Investments in non-U.S. equities had the most positive influence on the Funds' relative performance, led by exposure to Fidelity® Series Emerging Markets Fund, which outperformed its benchmark, the MSCI Emerging Markets Index.

• The Funds' investments in U.S. equities also notably contributed to relative performance. Here, a stake in Fidelity® Series Blue Chip Growth Fund added the most value, as the fund topped the Russell 1000® Growth Index.

• The co-portfolio managers' active asset allocation decisions modestly detracted from the Funds' relative results this period, with an underweighting in U.S. equities hurting most.

• As of September 30, 2020, Co-Portfolio Managers Andrew Dierdorf and Brett Sumsion believe that although the future path of COVID-19 and the historic global monetary and fiscal responses to it are likely to have long-lasting effects on the global economy, recent market volatility has provided opportunities to position the Funds in asset classes trading at a significant discount to their view of fair value, which they believe will pay off over an intermediate-term horizon.

• At period end, the Funds had a roughly Composite-neutral weighting in equities and continue to emphasize emerging-markets (EM) equities over U.S. equities, and value equities relative to growth stocks. The Funds also maintain higher-than-Composite exposure to inflation-sensitive assets, such as Treasury Inflation-Protected Securities (TIPS) and commodities.

FUND NAMES

Fidelity Freedom Blend Income Fund Fidelity Freedom Blend 2005 Fund Fidelity Freedom Blend 2010 Fund Fidelity Freedom Blend 2015 Fund Fidelity Freedom Blend 2020 Fund Fidelity Freedom Blend 2025 Fund Fidelity Freedom Blend 2030 Fund Fidelity Freedom Blend 2035 Fund Fidelity Freedom Blend 2040 Fund Fidelity Freedom Blend 2045 Fund Fidelity Freedom Blend 2050 Fund Fidelity Freedom Blend 2055 Fund Fidelity Freedom Blend 2060 Fund

Not FDIC Insured • May Lose Value • No Bank Guarantee


2 | For definitions, fund risks and other important information, please see the Definitions and Important Information section of this Q&A.

Market RecapFor the six months ending September 30, 2020, financial marketsrebounded from the early-2020 outbreak of the coronavirus, which resulted in a shutdown of business activity in many local and foreign economies. Rapid and expansive monetary- and fiscal-policy responses helped to partially offset the economic disruption and coincided with an uptrend for many assets from March 24 through the end of September. Clinical progress on a COVID-19 vaccine breakthrough and signs of economic recoveryalso provided support for riskier assets.

Non-U.S. equities gained 23.48% for the six months, according to the MSCI ACWI (All Country World Index) ex USA Index, reflecting significant ups and downs related to the pandemic and broad U.S.-dollar weakness. From a regional perspective, emerging markets (+30%), Canada (+28%) and Europe ex U.K. (+25%) led the way. Conversely, the U.K. (+8%) and Japan (+20%) trailed the broader index. By sector, information technology (+42%) stood out, followed by consumer discretionary and materials (+40% each). On the other end of thespectrum, the energy sector (+2%) underperformed by the widest margin, while real estate and financials (+11% each) also notably trailed the index.

The Dow Jones U.S. Total Stock Market Index gained 33.17%, rebounding from a decline in the first quarter of 2020 (-20.96%). U.S. equities gained 22.09% in the second quarter and added 9.07% in the third quarter. Among sectors, consumer discretionary (+64%) was the top performer, followed by tech (+47%) and materials (+41%). Utilities (+7%) and energy (+8%) lagged. Large-cap stocks topped small-caps, while growth outpaced value. Commodities (+14.62%), as represented by the Bloomberg Barclays Commodities Index Total Return, lagged equities.

Turning to fixed income, U.S. taxable investment-grade bonds (the Bloomberg Barclays U.S. Aggregate Bond Index) rose 3.53%. Most spread sectors outperformed Treasuries (+0.65%) ina supportive environment for riskier, higher-yielding assets. Corporate credit (+9.84%) led the way with a nearly double-digit gain. Government-related debt (+4.46%) held in despite relative weakness in agency securities. Securitized sectors were hurt by mortgage-backed securities (+0.78%). Meanwhile, extended (non-core) categories outside the index fared well, especially floating-rate bank loans, high-yield bonds and emerging-marketsdebt. Treasury Inflation-Protected Securities also outpaced the broader market. ■

BROAD ASSET CLASS RETURNS (%) PERIOD ENDING SEPTEMBER 30, 2020

Calendar-Year Returns Average Annual Cumulative

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 5 Year 3 Year 1 Year 6 Mos 3 Mos

19.7 29.9 18.6 33.5 25.1 4.1 17.5 37.8 1.9 30.9 13.6 11.9 16.3 33.2 9.7

19.2 8.9 18.5 21.2 16.9 1.2 12.6 24.5 0.7 22.8 9.4 11.5 14.8 29.6 9.1

17.5 8.7 16.6 7.4 12.5 0.5 11.8 21.2 0.6 18.9 8.2 5.3 10.9 21.2 9.1

16.8 8.5 16.4 5.4 7.0 0.4 11.6 9.3 0.0 18.4 6.6 5.2 7.7 17.4 5.0

15.1 7.8 15.5 0.1 6.0 0.2 10.4 8.5 -0.3 14.8 6.0 4.6 7.0 15.1 4.7

12.0 4.4 12.7 -1.8 5.5 0.1 10.2 8.3 -1.8 14.4 5.6 4.0 4.6 14.7 4.3

10.4 1.5 9.8 -2.0 2.5 0.1 5.3 7.5 -2.3 14.4 5.4 3.8 2.5 14.6 4.3

9.4 1.1 5.0 -2.3 1.8 -0.5 4.9 4.7 -4.1 10.3 5.0 3.3 2.2 13.7 2.5

9.1 0.1 4.2 -5.6 0.9 -1.2 4.0 4.3 -4.6 8.7 4.2 3.3 1.4 7.4 2.3

6.5 -12.1 3.6 -6.6 0.1 -2.9 3.0 3.5 -5.3 8.7 4.2 2.8 1.1 6.4 1.7

5.2 -13.3 0.1 -9.5 -1.8 -4.6 2.6 1.9 -11.2 7.7 3.7 1.7 0.4 3.5 0.6

0.2 -18.2 -1.1 -12.7 -4.2 -14.6 1.3 1.7 -13.9 6.9 1.2 0.8 -1.2 0.4 0.1

-- -- -- -- -17.0 -24.7 0.3 0.9 -14.2 2.3 -3.1 -4.2 -8.2 0.1 0.0

Best

Perfor

mance

Worst

Dispersionof Returns* 19.5 48.1 19.7 46.1 42.1 28.8 17.1 36.9 16.1 28.6 16.7 16.0 24.5 33.1 9.7

■ U.S. Equities

■ Non-U.S. Developed-Markets Equities

■ Emerging-Markets Equities

■ Commodities

■ High-Yield Debt

■ Floating-Rate Debt

■ International Debt

■ Emerging-Markets Debt

■ Real Estate Debt

■ Investment-Grade Debt

■ Inflation-Protected Debt

■ Short-Term Debt

■ Long-Term U.S. Treasury Debt

Periods greater than one year are annualized. Source: FMR*Difference between best- and worst-performing asset classes over the given time periodYou cannot invest directly in an index. Past performance is no guarantee of future results.U.S. Equities - Dow Jones U.S. Total Stock Market Index, Non-U.S. Developed-Markets Equities - MSCI World ex USA Net Mass, Emerging-Markets Equities - MSCI Emerging Markets Index, Commodities - Bloomberg Commodity Index Total Return, High-Yield Debt - ICE BofA U.S. High Yield Constrained Index, Floating-Rate Debt - S&P/LSTA Leveraged Performing Loan Index, International Debt - Bloomberg Barclays Global Aggregate Credit Ex U.S. Index Hedged (USD), Emerging-Markets Debt - J.P. Morgan Emerging Markets Bond Index Global, Real Estate Debt - Fidelity Real Estate Income Composite Index, Investment-Grade Debt - Bloomberg Barclays U.S. Aggregate Bond Index, Inflation-Protected Debt - Bloomberg Barclays U.S. 1-10 Year Treasury Inflation-Protected Securities (TIPS) Index (Series-L), Short-Term Debt - Bloomberg Barclays U.S. 3 Month Treasury Bellwether Index, Long-Term U.S. Treasury Debt -Bloomberg Barclays U.S. Long Treasury Index



Andrew DierdorfCo-Manager

Brett SumsionCo-Manager

Fund FactsFreedom Blend Fund

Trading Symbol

Start DateSize (in millions)

Income FHBZX 08/31/2018 $54.32005 FHAZX 08/31/2018 $21.12010 FHAYX 08/31/2018 $77.02015 FHAWX 08/31/2018 $227.72020 FHAVX 08/31/2018 $687.42025 FHAUX 08/31/2018 $980.52030 FHATX 08/31/2018 $986.62035 FHASX 08/31/2018 $891.42040 FHARX 08/31/2018 $788.92045 FHAQX 08/31/2018 $673.82050 FHAPX 08/31/2018 $545.22055 FHAOX 08/31/2018 $285.12060 FHANX 08/31/2018 $89.0

Investment Approach• Fidelity Freedom® Blend Funds (the Funds) are designed

so that the target date referenced in the Fund name is the approximate year when we expect investors to retire and begin gradually withdrawing their investment.

• Except for Fidelity Freedom® Blend Income Fund, each of the Funds seeks high total return until reaching its respective target retirement date; thereafter, each Fund's objective will be to seek high current income and, as a secondary objective, capital appreciation.

• Except for Fidelity Freedom® Blend Income Fund, each Fund's asset allocation strategy becomes increasingly conservative as it approaches its target date – and beyond. Ultimately, the Funds are expected to merge with Freedom Blend Income Fund.

• The Funds employ a robust investment process focused on helping investors solve the challenge of investing through retirement by leveraging the depth and strengthof Fidelity's investment research and resources.

Q&AAn interview with Co-Portfolio Managers Andrew Dierdorf and Brett Sumsion

Q: Andrew, how did the Funds perform for the six months ending September 30, 2020

A.D. The Retail Class shares of each Fund posted a strong absolute return, ranging from 8.38% for Fidelity Freedom® Blend Income Fund to 28.00% for Fidelity Freedom® Blend 2050 Fund. Each Fund topped its Composite index the past six months.

Looking back a bit longer term, Retail Class share returns for the trailing year ranged from 6.45% for Fidelity Freedom® Blend Income Fund to 11.07% for Fidelity Freedom® Blend 2045 Fund. The Funds had mixed results versus Composites the past year, with more-conservative Funds modestly lagging and more-aggressive Funds modestly outperforming.

(For specific Fund results, please refer to the Fiscal Performance Summaries.)

Q: What factors had the greatest influence on the Funds' absolute results the past year

A.D. All the asset classes that the Funds invest in generated a positive return, led by strong results in global equity markets, credit-sensitive fixed-income securities and commodities.

The strong performance of riskier asset classes extended a rally that began in late March of this year, following a steep decline beginning in late February. These assets got some support from a historically rapid and expansive U.S. fiscal-policy response to the COVID-19 pandemic that was intended to help offset the economic disruption it caused.

Aggressive monetary policies by the U.S. Federal Reserve, aswell as other central banks around the world, also offered support for the capital markets. As the period progressed, governments around the world reopened their economies on various levels, some fully open and others partially open with business restrictions. This activity led to a rebound in economic growth in the U.S. and abroad.

In addition, many companies made progress on potential treatments and vaccines for COVID-19, which improved the economic outlook and boosted investor sentiment.



Q: What should shareholders take away from the strong performance of the Funds

A.D. I think it's important to recognize that the elevated volatility we've seen year to date is a reminder that diversification is an important tool in managing portfolio risk. Our portfolio management team strives to include asset classes that offer independence of returns, so that the Funds are resilient over short- and long-term horizons and balance many risks. Diversification is more prominent in the funds as investors move through their lifecycle and as their time horizon shortens. We continue to focus on the long-term investment objective of the strategies, drawing on decades of experience to help us navigate periods of volatility. It's important to keep in mind that the strategic asset allocation of the Funds is designed to endure these ups and downs.

Further, the past several years our strategic investment decisions have emphasized increased portfolio diversification by reducing equity exposure and adding long-term U.S. Treasury bonds and Treasury Inflation-Protected Securities (TIPS) to the strategic asset allocation. While we didn't anticipate the onset of a pandemic in 2020, these investment decisions reflected our view of increasing uncertainty in the capital markets.

Q: Brett, which underlying investments contributed most to the Funds' performance

B.S. Investments in non-U.S. equities helped the most versusComposite indexes. Fidelity® Series Emerging Markets Fund (+34.75%) was the top underlying fund-level contributor, as ittopped the 29.36% gain of its benchmark, the MSCI Emerging Markets Index. A position in Fidelity® Overseas Fund (+29.25%) also stood out, outpacing its benchmark, theMSCI EAFE Index (+20.52%). The Funds got a similar boost from Fidelity® Series International Value Fund (+20.73%), which topped the MSCI EAFE Value Index (+13.92%).

The Funds' investments in U.S. equities also notably contributed to relative performance. Here, our stake in Fidelity® Series Blue Chip Growth Fund (+62.02%) added the most value, as the fund outperformed the Russell 1000® Growth Index (+44.74%).

An investment in Fidelity® Series Investment Grade Bond Fund (+7.55%) also helped, as it, too, topped its benchmark, the Bloomberg Barclays U.S. Aggregate Bond Index (+3.53%). Conversely, the biggest relative detractor was Fidelity Series Large Cap Stock Fund (+22.26%), which trailedthe 31.31% advance of its benchmark.

Q: How did active asset allocation positioning influence the Funds' relative performance

B.S. It modestly detracted. We made decisions that were helpful, such as underweighting weaker-performing

investment-grade bonds and overweighting outperforming non-U.S. equities. However, the boost related to these favorable decisions was more than offset by others. Specifically, underweighting U.S. equities, which gained 33.17% according to the Dow Jones U.S. Total Stock Market Index, held back results versus Composites. Overweighting short-term debt securities (+0.06%) also hurt, as did an allocation to inflation-protected debt securities, as this asset class lagged the Composite indexes the past six months.

Q: Turning back to you, Andrew, what's your outlook as of September 30

A.D. Our view is that the path of COVID-19 and the historic global monetary and fiscal responses to it are likely to have long-lasting effects on the global economy. In the intermediate term, we see opportunities to position the Funds in asset classes trading at a significant discount to our view of fair value. History has shown that markets don't appropriately discount macroeconomic shocks over very short-term periods.

We believe that prices of financial assets can diverge from underlying fair value due to such factors as an overreaction, regimes and cycles, and liquidity preferences, among others.As such, we believe a diversified portfolio that makes use of both a strategic allocation and active management capabilities to manage market dislocations and uncertainty may lead to better outcomes over an extended horizon.

We recognize that it's been a very challenging environment for investors since late February, and it is unsettling when markets are volatile. It's important to recognize that we have been through periods of major market and economic disruption – and eventual recovery – before and have a history of persevering. We continue to focus on the long-term investment objective of the Funds, drawing on decades of experience to help participants achieve their objectives.

[Editor's note: See the next section of this shareholder updatefor the co-portfolio managers' active allocation positioning as of September 30, 2020.] ■



Co-Manager Brett Sumsion on the Funds' active asset allocation positioning:

"As of September 30, we maintained the Funds' roughly Composite-neutral allocation to equities and continue to emphasize emerging-markets (EM) equities over U.S. stocks. We believe that valuations for U.S. equities are elevated. EM equities, by comparison, are priced at a significant discount and have favorable growth prospects. The potential for aweaker U.S. dollar following massive fiscal and monetary stimulus, pent-up demand for goods produced by EM countries, and early signs of a China's stabilization and recovery provide a potentially favorable backdrop for EM equities. We are mindful of the geopolitical risks of an overweightallocation to EM, including the U.S.–China trade relationship, and consider these risks in the overall positioning of the portfolios. Among U.S. equities, we favor value funds over growth funds. Our view is that the low rate of U.S. inflation has contributed to investors' preferences for equities with long-dated cash flows, such as growth-oriented equities. An increase in inflation expectations may cause investors to prefer companies with cash flows that will be realized over a shorter time horizon, such as value-oriented equities.

"Inflation-sensitive assets, such as Treasury Inflation-Protected Securities (TIPS) and commodities, remainoverweight in the Funds, based on valuation, and our view that the market has mispriced the potentialfor inflation to rise. EM equities and inflation-sensitive assets remain our largest period-end overweights. These overweights are funded by underweights in U.S. equities and investment-grade bonds, including long-term Treasuries. Inflation-sensitive assets, including TIPS and commodities, offer attractive asset allocation opportunities, in our view. While the markets initially discounted the pandemic as a deflationary shock, we believe that longer-term inflationary pressure may be greater than the market expects. The liquidity provided by accommodative global monetary policy, coupled with rebounding economic activity, may accelerate inflationary pressure. Lastly, we believe that historically low yields on sovereign bonds support an underweight position here, specifically in investment-grade bonds and long-term U.S Treasurybonds."



Fidelity Freedom Blend Income Fund

TARGET ASSET ALLOCATION ■ Current Year

100%

80%

60%

40%

20%

0% 50 45 40 35 30 25 20 15 10 5 0 5 10 15 20

YEARS TO RETIREMENT RETIREMENT YEARS 1

■ Domestic Equity Funds ■ International Equity Funds

■ Bond Funds ■ Short-Term Funds

Source: FMRFidelity's Freedom Funds invest in a diversified mix of Fidelity domesticequity, international equity, bond, and short-term funds, many of which are managed exclusively for this purpose. As the chart above shows, Freedom Funds follow an asset allocation strategy that becomes increasingly more conservative as the target date approachesand passes. Freedom Funds are generally expected to reach their most conservative allocation 10-19 years after the target date. Future target allocations for the Freedom Fund featured above may differ fromthis approximate illustration.

ASSET ALLOCATION PERFORMANCE SUMMARY

Asset Class Benchmark

Average Relative Weight

Relative Contribution

(basis points)*

DOMESTIC EQUITY DJ US Total Stk Mkt -3.0% -141

INTERNATIONAL EQUITY

MSCI AC Wld exUS (Net MA) 4.4% 137

BOND -- -5.0% 113

INVESTMENT GRADE BOND

BBgBarc U.S. Agg Bond -6.4% 104

HIGH YIELD DEBT -- 0.7% 4

INTERNATIONAL DEBT -- -- --

EMERGING MARKETS DEBT -- 0.7% 5

INFLATION-PROTECTED BOND BBgBarc 1-10 TIPS 2.0% -4

LONG TERM U.S. TREASURES

BBgBarc US LT Treasury -0.7% 3

SHORT-TERM FUNDS & OTHER ASSETS

BBgBarc 3-6 Mo Tsy 2.3% 3

INVESTED ASSETS SUBTOTALS

FID FF Income Comp Idx 0.0% 111

NET EXPENSES -- -- -16

Total Value Added 95

*1 basis point = 0.01%.

Other Assets can include fund receivables, fund payables, and offsets to other derivative positions, as well as certain assets that do not fall into any of the portfolio composition categories. Depending on the extent to which the fund invests in derivatives and the number of positions that areheld for future settlement, Net Other Assets can be a negative number.



FISCAL PERFORMANCE SUMMARY:Periods ending September 30, 2020

Cumulative Annualized

6Month YTD

1Year

3Year

5Year

10 Year/ LOF1

Fidelity Freedom Blend Income Fund Gross Expense Ratio: 0.46%2 8.38% 4.17% 6.45% -- -- 5.87%

Bloomberg Barclays U.S. Aggregate Bond Index 3.53% 6.79% 6.98% 5.24% 4.18% 7.93%

Fidelity Freedom Income Composite Index 7.51% 5.12% 7.06% 5.57% 5.40% 6.59%

Morningstar Fund Target-Date Retirement 11.21% 3.23% 5.79% 4.85% 5.41% --

% Rank in Morningstar Category (1% = Best) -- -- 58% -- -- --

# of Funds in Morningstar Category -- -- 176 150 127 --1 Life of Fund (LOF) if performance is less than 10 years. Fund inception date: 08/31/2018.2 This expense ratio is from the prospectus in effect as of the date shown above and generally is based on amounts incurred during that fiscal year. It does not include any fee waivers or reimbursements, which would be reflected in the fund's net expense ratio.

Past performance is no guarantee of future results. Investment return and principal value of an investment will fluctuate; therefore, you may havea gain or loss when you sell your shares. Current performance may be higher or lower than the performance stated. Performance shown is that of the fund's Retail Class shares (if multiclass). You may own another share class of the fund with a different expense structure and, thus, have different returns. To learn more or to obtain the most recent month-end or other share-class performance, visit fidelity.com/performance, institutional.fidelity.com, or 401k.com. Total returns are historical and include change in share value and reinvestment of dividends and capital gains, if any. Cumulative total returns are reported as of the period indicated. Please see the last page(s) of this Q&A document for most-recent calendar-quarter performance.



Fidelity Freedom Blend Income Fund (continued)

FUND HOLDINGS BY ASSET CLASS

HoldingPortfolio Weight

Portfolio Weight Six Months Ago

Domestic Equities 8.65% 7.09%

Equities 6.22% 3.69%

Series Lg Cap Value Idx 1.83% 1.12%

Series Blue Chip Growth 1.39% 0.82%

Series Large Cap Stock 0.95% 0.59%

Srs Lg Cap Growth Idx Fd 0.93% 0.57%

Series Value Discovery 0.66% 0.33%

Ser Small Cap Opps 0.46% 0.27%

Commodities 2.43% 3.40%

Series Commodity Stgy 2.43% 3.40%

International Equities 12.27% 10.85%

Developed-Markets Equities 5.32% 6.32%

Series Intl Growth 1.30% 1.61%

Fid Series Overseas Fund 1.29% 1.54%

Series Intl Value 1.26% 1.59%

Series Intl Index Fund 0.53% 0.58%

Series Canada 0.49% 0.54%

Series Intl Small Cap 0.46% 0.47%

Emerging-Markets Equities 6.96% 4.53%

Ser Emerging Markets Opps 6.26% 4.12%

Series Emerg Markets Fund 0.70% 0.42%

Bonds 55.02% 55.65%

Investment-Grade Debt 38.70% 39.30%



Ser Invt Grade Bond 11.59% 11.63%

Ser Govt Bond Index Fund 10.47% 11.92%

Series Corp Bond Fund 8.72% 7.64%

Srs Inv Grade Securitized 7.92% 8.11%

Long-Term U.S. Treasuries 2.33% 2.46%

Ser LT Treasury Bd Idx 2.33% 2.46%

Inflation-Protected Debt 12.04% 12.07%

Ser Infl-Prot Bd Idx 12.04% 12.07%

High-Yield Debt 0.72% 0.68%

Series High Income 0.72% 0.68%

Floating-Rate Debt 0.14% 0.13%

Series Fltg Rate HI 0.14% 0.13%

International Debt 0.00% 0.00%

Emerging-Markets Debt 0.66% 0.62%

Series Emer Mkts Debt 0.66% 0.62%

Real Estate Debt 0.43% 0.37%

Series Real Estate Inc 0.43% 0.37%

Short-Term Debt & Net Other Assets 24.06% 26.41%

Ser Treasury Bill Index 13.43% 16.37%

Series Government MM 6.54% 5.20%

Series ST Credit 4.04% 4.75%

Cash CF 0.00% 0.00%

NET OTHER ASSETS 0.03% 0.08%



Fidelity Freedom Blend 2005 Fund


100%

80%

60%

40%

20%

0% 50 45 40 35 30 25 20 15 10 5 0 5 10 15 20









(basis points)*




BOND -- -5.0% 118










BBgBarc 3-6 Mo Tsy 2.3% -15


FID FF 2005 Comp Idx 0.0% 108









6Month YTD

1Year

3Year

5Year

10 Year/ LOF1

Fidelity Freedom Blend 2005 Fund Gross Expense Ratio: 0.46%2 9.92% 4.01% 6.93% -- -- 6.01%


Fidelity Freedom 2005 Composite Index 9.03% 4.92% 7.46% 5.97% 6.33% 6.64%

Morningstar Fund Target-Date 2000-2010 13.16% 3.95% 7.47% 5.56% 6.46% --






Fidelity Freedom Blend 2005 Fund (continued)





Equities 9.36% 7.39%




















Bonds 52.26% 52.40%

























Cash CF 0.00% 0.00%






100%

80%

60%

40%

20%

0% 50 45 40 35 30 25 20 15 10 5 0 5 10 15 20









(basis points)*




BOND -- -5.0% 126





















6Month YTD

1Year

3Year

5Year

10 Year/ LOF1




Morningstar Fund Target-Date 2000-2010 13.16% 3.95% 7.47% 5.56% 6.46% --











Equities 14.75% 12.98%




















Bonds 47.32% 47.26%

























Cash CF 0.00% 0.00%






100%

80%

60%

40%

20%

0% 50 45 40 35 30 25 20 15 10 5 0 5 10 15 20









(basis points)*




BOND -- -5.1% 134





















6Month YTD

1Year

3Year

5Year

10 Year/ LOF1




Morningstar Fund Target-Date 2015 14.30% 3.37% 7.31% 5.77% 6.89% --











Equities 20.16% 18.54%




















Bonds 42.37% 42.23%

























Cash CF 0.00% 0.00%






100%

80%

60%

40%

20%

0% 50 45 40 35 30 25 20 15 10 5 0 5 10 15 20









(basis points)*




BOND -- -5.1% 141



HIGH YIELD DEBT -- 0.7% -2












