FIHFX vs. FPUKX

Last updated Aug 2, 2026

FIHFX (Fidelity Freedom Index 2035 Fund Investor Class) and FPUKX (Fidelity Puritan Fund Class K) are both mutual funds - FIHFX is a Target Retirement Date fund actively managed by Fidelity, while FPUKX is a Diversified Portfolio fund managed by Fidelity. Over the past 10 years, FIHFX returned 9.87%/yr vs 10.98%/yr for FPUKX. Their correlation of 0.94 means they have usually moved in the same direction. FIHFX charges 0.12%/yr vs 0.43%/yr for FPUKX.

Performance

FIHFX vs. FPUKX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Freedom Index 2035 Fund Investor Class (FIHFX) and Fidelity Puritan Fund Class K (FPUKX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FIHFX achieves a 7.21% return, which is significantly higher than FPUKX's 6.78% return. Over the past 10 years, FIHFX has underperformed FPUKX with an annualized return of 9.87%, while FPUKX has yielded a comparatively higher 10.98% annualized return.

FIHFX

• 1D: 1.39%
• 1M: -0.63%
• 6M: 5.01%
• YTD: 7.21%
• 1Y: 16.01%
• 3Y*: 13.06%
• 5Y*: 6.91%
• 10Y*: 9.87%
• ALL TIME*: 9.24%

FPUKX

• 1D: 1.35%
• 1M: -2.67%
• 6M: 4.65%
• YTD: 6.78%
• 1Y: 14.59%
• 3Y*: 14.28%
• 5Y*: 8.49%
• 10Y*: 10.98%
• ALL TIME*: 9.10%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FIHFX Fidelity Freedom Index 2035 Fund Investor Class	$0.00	$0.00	$0.00
FPUKX Fidelity Puritan Fund Class K	$0.00	$0.00	$0.00

FIHFX vs. FPUKX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FIHFX Fidelity Freedom Index 2035 Fund Investor Class	7.21%	17.32%	11.22%	17.25%	-17.49%	13.73%	15.54%	24.87%	-6.77%	20.35%
FPUKX Fidelity Puritan Fund Class K	6.78%	12.31%	19.03%	20.26%	-17.26%	18.99%	20.70%	21.40%	-4.15%	18.37%

Correlation

The correlation between FIHFX and FPUKX is 0.93, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.93
Correlation (3Y) Balances recent behavior with more history.	0.91
Correlation (5Y) Shows whether the relationship held over a longer period.	0.94
Correlation (10Y) Provides a long-term view across more market conditions.	0.93
Correlation (All Time) Calculated using the full available price history since Oct 5, 2009	0.94

The correlation between FIHFX and FPUKX has been stable across timeframes, ranging from 0.91 to 0.94 - a consistent structural relationship.

Return for Risk

FIHFX vs. FPUKX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FIHFX

FIHFX Risk / Return Rank: 69
FIHFX Sharpe Ratio Rank: 68
FIHFX Sortino Ratio Rank: 67
FIHFX Omega Ratio Rank: 67
FIHFX Calmar Ratio Rank: 68
FIHFX Martin Ratio Rank: 76

FPUKX

FPUKX Risk / Return Rank: 47
FPUKX Sharpe Ratio Rank: 43
FPUKX Sortino Ratio Rank: 41
FPUKX Omega Ratio Rank: 41
FPUKX Calmar Ratio Rank: 54
FPUKX Martin Ratio Rank: 54

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FIHFX vs. FPUKX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Freedom Index 2035 Fund Investor Class (FIHFX) and Fidelity Puritan Fund Class K (FPUKX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	FIHFX	FPUKX	Difference
Sharpe ratio: Return per unit of total volatility	1.56	1.23	+0.33
Sortino ratio: Return per unit of downside risk	2.22	1.74	+0.48
Omega ratio: Gain probability vs. loss probability	1.29	1.22	+0.06
Calmar ratio: Return relative to maximum drawdown	2.16	1.91	+0.25
Martin ratio: Return relative to average drawdown	8.90	7.19	+1.71

FIHFX vs. FPUKX - Sharpe Ratio Comparison

The current FIHFX Sharpe Ratio is 1.56, which is comparable to the FPUKX Sharpe Ratio of 1.23. The chart below compares the historical Sharpe Ratios of FIHFX and FPUKX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FIHFX vs. FPUKX - Drawdown Comparison

The maximum FIHFX drawdown since its inception was -28.42%, smaller than the maximum FPUKX drawdown of -37.81%. Use the drawdown chart below to compare losses from any high point for FIHFX and FPUKX.

Drawdown Indicators

	FIHFX	FPUKX	Difference
Max Drawdown Largest peak-to-trough decline	-28.42%	-37.81%	+9.39%
Max Drawdown (1Y) Largest decline over 1 year	-6.99%	-7.24%	+0.25%
Max Drawdown (3Y) Largest decline over 3 years	-10.98%	-16.46%	+5.48%
Max Drawdown (5Y) Largest decline over 5 years	-24.84%	-22.52%	-2.32%
Max Drawdown (10Y) Largest decline over 10 years	-28.42%	-23.91%	-4.51%
Current Drawdown Current decline from peak	-1.63%	-4.45%	+2.82%
Average Drawdown Average peak-to-trough decline	-3.96%	-4.92%	+0.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.70%	1.92%	-0.22%

Volatility

FIHFX vs. FPUKX - Volatility Comparison

The current volatility for Fidelity Freedom Index 2035 Fund Investor Class (FIHFX) is 2.83%, while Fidelity Puritan Fund Class K (FPUKX) has a volatility of 3.43%. This indicates that FIHFX experiences smaller price fluctuations and is considered to be less risky than FPUKX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FIHFX	FPUKX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.83%	3.43%	-0.60%
Volatility (6M) Calculated over the trailing 6-month period	8.19%	9.36%	-1.17%
Volatility (1Y) Calculated over the trailing 1-year period	9.70%	11.29%	-1.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.02%	13.49%	-1.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.31%	13.18%	+0.13%

FIHFX vs. FPUKX - Expense Ratio Comparison

FIHFX has a 0.12% expense ratio, which is lower than FPUKX's 0.43% expense ratio.

Dividends

FIHFX vs. FPUKX - Dividend Comparison

FIHFX's dividend yield for the trailing twelve months is around 2.60%, less than FPUKX's 6.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIHFX Fidelity Freedom Index 2035 Fund Investor Class	2.60%	2.77%	2.50%	2.10%	2.14%	1.93%	2.15%	16.14%	2.21%	1.81%	1.95%	2.03%
FPUKX Fidelity Puritan Fund Class K	6.03%	6.91%	11.37%	5.42%	9.47%	13.20%	5.17%	4.38%	15.38%	3.84%	3.82%	7.60%

Frequently Asked Questions

Can I hold both FIHFX and FPUKX in my portfolio?

With a correlation of 0.93, FIHFX and FPUKX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, FIHFX or FPUKX?

FPUKX has higher volatility (3.43%) compared to FIHFX (2.83%). In terms of maximum drawdown, FIHFX dropped -28.42% vs FPUKX's -37.81%.

Which has better risk-adjusted returns?

FIHFX currently has the higher Sharpe Ratio (1.56 vs 1.23), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.