FPKFX vs. LIWPX

Last updated Jun 9, 2026

FPKFX (Fidelity Puritan K6 Fund) and LIWPX (BlackRock LifePath Index 2065 Fund) are both mutual funds - FPKFX is a Diversified Portfolio fund managed by Fidelity, while LIWPX is a Target Retirement Date fund managed by BlackRock. Over the past 5 years, FPKFX returned 8.87%/yr vs 9.48%/yr for LIWPX. Their correlation of 0.93 suggests significant overlap in exposure. FPKFX charges 0.32%/yr vs 0.35%/yr for LIWPX.

Performance

FPKFX vs. LIWPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Puritan K6 Fund (FPKFX) and BlackRock LifePath Index 2065 Fund (LIWPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FPKFX achieves a 7.31% return, which is significantly lower than LIWPX's 9.12% return.

FPKFX

• 1D: -2.69%
• 1M: -0.43%
• YTD: 7.31%
• 6M: 7.15%
• 1Y: 18.91%
• 3Y*: 15.96%
• 5Y*: 8.87%
• 10Y*: —

LIWPX

• 1D: -3.04%
• 1M: -1.10%
• YTD: 9.12%
• 6M: 9.89%
• 1Y: 24.26%
• 3Y*: 18.49%
• 5Y*: 9.48%
• 10Y*: —

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

FPKFX vs. LIWPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FPKFX Fidelity Puritan K6 Fund	7.31%	11.37%	18.95%	20.29%	-17.11%	19.10%	20.22%	4.80%
LIWPX BlackRock LifePath Index 2065 Fund	9.12%	21.32%	14.17%	21.22%	-18.52%	18.51%	15.12%	5.67%

Correlation

The correlation between FPKFX and LIWPX is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (All Time) Calculated using the full available price history since Oct 31, 2019	0.93

The correlation between FPKFX and LIWPX has been stable across timeframes, ranging from 0.92 to 0.94 - a consistent structural relationship.

Return for Risk

FPKFX vs. LIWPX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FPKFX

FPKFX Risk / Return Rank: 49
FPKFX Sharpe Ratio Rank: 45
FPKFX Sortino Ratio Rank: 41
FPKFX Omega Ratio Rank: 46
FPKFX Calmar Ratio Rank: 51
FPKFX Martin Ratio Rank: 61

LIWPX

LIWPX Risk / Return Rank: 51
LIWPX Sharpe Ratio Rank: 49
LIWPX Sortino Ratio Rank: 45
LIWPX Omega Ratio Rank: 46
LIWPX Calmar Ratio Rank: 53
LIWPX Martin Ratio Rank: 62

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FPKFX vs. LIWPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Puritan K6 Fund (FPKFX) and BlackRock LifePath Index 2065 Fund (LIWPX). 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.

	FPKFX	LIWPX	Difference
Sharpe ratio: Return per unit of total volatility	1.87	1.94	-0.07
Sortino ratio: Return per unit of downside risk	2.56	2.66	-0.11
Omega ratio: Gain probability vs. loss probability	1.35	1.35	0.00
Calmar ratio: Return relative to maximum drawdown	2.60	2.65	-0.05
Martin ratio: Return relative to average drawdown	11.58	11.69	-0.11
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FPKFX vs. LIWPX - Sharpe Ratio Comparison

The current FPKFX Sharpe Ratio is 1.87, which is comparable to the LIWPX Sharpe Ratio of 1.94. The chart below compares the historical Sharpe Ratios of FPKFX and LIWPX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FPKFX	LIWPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.87	1.94	-0.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.70	0.60	+0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.85	0.67	+0.18

Drawdowns

FPKFX vs. LIWPX - Drawdown Comparison

The maximum FPKFX drawdown since its inception was -24.46%, smaller than the maximum LIWPX drawdown of -33.12%. Use the drawdown chart below to compare losses from any high point for FPKFX and LIWPX.

Drawdown Indicators

	FPKFX	LIWPX	Difference
Max Drawdown Largest peak-to-trough decline	-24.46%	-33.12%	+8.66%
Max Drawdown (1Y) Largest decline over 1 year	-7.48%	-9.57%	+2.09%
Max Drawdown (3Y) Largest decline over 3 years	-14.90%	-16.97%	+2.07%
Max Drawdown (5Y) Largest decline over 5 years	-22.33%	-26.57%	+4.24%
Current Drawdown Current decline from peak	-2.69%	-3.52%	+0.83%
Average Drawdown Average peak-to-trough decline	-4.79%	-5.87%	+1.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.67%	2.16%	-0.49%

Volatility

FPKFX vs. LIWPX - Volatility Comparison

The current volatility for Fidelity Puritan K6 Fund (FPKFX) is 4.06%, while BlackRock LifePath Index 2065 Fund (LIWPX) has a volatility of 4.68%. This indicates that FPKFX experiences smaller price fluctuations and is considered to be less risky than LIWPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FPKFX	LIWPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.06%	4.68%	-0.62%
Volatility (6M) Calculated over the trailing 6-month period	8.50%	10.65%	-2.15%
Volatility (1Y) Calculated over the trailing 1-year period	10.37%	13.05%	-2.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.69%	15.90%	-3.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.33%	18.59%	-4.26%

FPKFX vs. LIWPX - Expense Ratio Comparison

FPKFX has a 0.32% expense ratio, which is lower than LIWPX's 0.35% expense ratio.

Dividends

FPKFX vs. LIWPX - Dividend Comparison

FPKFX's dividend yield for the trailing twelve months is around 3.91%, more than LIWPX's 1.44% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
FPKFX Fidelity Puritan K6 Fund	3.91%	4.19%	3.83%	1.67%	1.62%	4.34%	1.40%	0.63%
LIWPX BlackRock LifePath Index 2065 Fund	1.44%	1.57%	0.00%	1.76%	1.50%	1.58%	1.13%	0.83%

Frequently Asked Questions

Can I hold both FPKFX and LIWPX in my portfolio?

With a correlation of 0.93, FPKFX and LIWPX 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, FPKFX or LIWPX?

LIWPX has higher volatility (4.68%) compared to FPKFX (4.06%). In terms of maximum drawdown, FPKFX dropped -24.46% vs LIWPX's -33.12%.

Which has better risk-adjusted returns?

LIWPX currently has the higher Sharpe Ratio (1.94 vs 1.87), 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.