Investment Advice: Should I switch from FFTHX to FIHFX?

[Road2Freedom]

We have a couple Rollover IRAs and a ROTH IRA in Fidelity's 2035 Freedom Fund.  I never thought much about the expense ratios until I stumbled upon MMM and other ER sites.

Does it make sense for me to transfer from my current investments (FFTHX) to their Target Index Fund (FIHFX) based on the much lower expense ratio?  I ask because the returns for FIHFX are much lower.  Wasn't sure if the difference in expense ratio made up for the lower returns.

https://fundresearch.fidelity.com/mutual-funds/summary/315792655

https://fundresearch.fidelity.com/mutual-funds/summary/315793802

My mom also has almost $400K in their 2020 Freedom Fund so would be curious if it makes sense to make a similar switch.

Thanks in advance,
R2F

[TomTX]

I would not tolerate a 0.75% expense on a target date fund.

Hell, I didn't like the 0.25% expenses on the target date funds at work, so I complained loudly, citing the employer's duty to offer responsible products. Less than a year later they had swapped to target date funds at 0.08%.

[Road2Freedom]

I would not tolerate a 0.75% expense on a target date fund.

Hell, I didn't like the 0.25% expenses on the target date funds at work, so I complained loudly, citing the employer's duty to offer responsible products. Less than a year later they had swapped to target date funds at 0.08%.

Agree with you on that.  Wasn't something I paid a lot of attention to until I started researching early retirement and using Personal Capital.

I ran the 3 and 5-year charts and FFTHX is worth slightly more over each time frame.  Doesn't include the fees so is it safe to say FIHFX is the better option?

[Road2Freedom]

Found the Wiki page on Three-Fund Portfolio and may have the best answer.  Didn't realize they provide an example for Fidelity.  Looks like the 80/20 (64/16/20) would be best for me based on age and diversification.

Would be able to do Premium Class (FSTVX/FTIPX/FSITX) for my Rollover IRA.  Would have to mix it up with my Roth IRA and wife's Rollover IRA due to the lower balances and likely not having $10,000 min based on the 64/16/20 split.  Thinking of doing FSTVX/FTIGX/FBIDX for those.

Here's the expense ratios for each:
Total Stock - FSTMX (.09) / FSTVX (.035)
Total Int - FTIGX (.17) / FTIPX (.1)
Total Bond - FBIDX (.14) / FSITX (.045)

Looks like this is a better option than going with a Target Fund, correct?