FPUKX vs. FCSRX

Last updated Aug 1, 2026

FPUKX (Fidelity Puritan Fund Class K) and FCSRX (Fidelity Advisor Strategic Real Return Fund Class C) are both Diversified Portfolio funds from Fidelity. Over the past 10 years, FPUKX returned 10.98%/yr vs 4.42%/yr for FCSRX. Their 0.56 correlation means they have sometimes moved together and sometimes differently. FPUKX charges 0.43%/yr vs 1.70%/yr for FCSRX.

Performance

FPUKX vs. FCSRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Puritan Fund Class K (FPUKX) and Fidelity Advisor Strategic Real Return Fund Class C (FCSRX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with FPUKX having a 6.78% return and FCSRX slightly lower at 6.55%. Over the past 10 years, FPUKX has outperformed FCSRX with an annualized return of 10.98%, while FCSRX has yielded a comparatively lower 4.42% annualized return.

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%

FCSRX

• 1D: 0.00%
• 1M: 0.77%
• 6M: 2.98%
• YTD: 6.55%
• 1Y: 12.24%
• 3Y*: 7.14%
• 5Y*: 4.52%
• 10Y*: 4.42%
• ALL TIME*: 2.96%

*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)
FCSRX Fidelity Advisor Strategic Real Return Fund Class C	$0.00	$0.00	$0.00
FPUKX Fidelity Puritan Fund Class K	$0.00	$0.00	$0.00

FPUKX vs. FCSRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
FCSRX Fidelity Advisor Strategic Real Return Fund Class C	6.55%	9.27%	4.75%	3.60%	-4.26%	14.68%	2.60%	9.54%	-5.03%	3.02%

Correlation

The correlation between FPUKX and FCSRX is 0.31, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.31
Correlation (3Y) Balances recent behavior with more history.	0.45
Correlation (5Y) Shows whether the relationship held over a longer period.	0.55
Correlation (10Y) Provides a long-term view across more market conditions.	0.53
Correlation (All Time) Calculated using the full available price history since May 9, 2008	0.56

Over the past year, the correlation between FPUKX and FCSRX has dropped to 0.31 - well below their long-term average of 0.56, suggesting their price drivers have been diverging.

Return for Risk

FPUKX vs. FCSRX — Risk / Return Rank

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

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

FCSRX

FCSRX Risk / Return Rank: 89
FCSRX Sharpe Ratio Rank: 93
FCSRX Sortino Ratio Rank: 89
FCSRX Omega Ratio Rank: 89
FCSRX Calmar Ratio Rank: 90
FCSRX Martin Ratio Rank: 84

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.

FPUKX vs. FCSRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Puritan Fund Class K (FPUKX) and Fidelity Advisor Strategic Real Return Fund Class C (FCSRX). 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.

	FPUKX	FCSRX	Difference
Sharpe ratio: Return per unit of total volatility	1.23	2.44	-1.21
Sortino ratio: Return per unit of downside risk	1.74	3.32	-1.58
Omega ratio: Gain probability vs. loss probability	1.22	1.47	-0.25
Calmar ratio: Return relative to maximum drawdown	1.91	3.36	-1.45
Martin ratio: Return relative to average drawdown	7.19	10.54	-3.35

FPUKX vs. FCSRX - Sharpe Ratio Comparison

The current FPUKX Sharpe Ratio is 1.23, which is lower than the FCSRX Sharpe Ratio of 2.44. The chart below compares the historical Sharpe Ratios of FPUKX and FCSRX, 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

FPUKX vs. FCSRX - Drawdown Comparison

The maximum FPUKX drawdown since its inception was -37.81%, which is greater than FCSRX's maximum drawdown of -33.91%. Use the drawdown chart below to compare losses from any high point for FPUKX and FCSRX.

Drawdown Indicators

	FPUKX	FCSRX	Difference
Max Drawdown Largest peak-to-trough decline	-37.81%	-33.91%	-3.90%
Max Drawdown (1Y) Largest decline over 1 year	-7.24%	-3.50%	-3.74%
Max Drawdown (3Y) Largest decline over 3 years	-16.46%	-5.85%	-10.61%
Max Drawdown (5Y) Largest decline over 5 years	-22.52%	-13.22%	-9.30%
Max Drawdown (10Y) Largest decline over 10 years	-23.91%	-20.02%	-3.89%
Current Drawdown Current decline from peak	-4.45%	-2.33%	-2.12%
Average Drawdown Average peak-to-trough decline	-4.92%	-5.07%	+0.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.92%	1.11%	+0.81%

Volatility

FPUKX vs. FCSRX - Volatility Comparison

Fidelity Puritan Fund Class K (FPUKX) has a higher volatility of 3.43% compared to Fidelity Advisor Strategic Real Return Fund Class C (FCSRX) at 1.62%. This indicates that FPUKX's price experiences larger fluctuations and is considered to be riskier than FCSRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FPUKX	FCSRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.43%	1.62%	+1.81%
Volatility (6M) Calculated over the trailing 6-month period	9.36%	3.78%	+5.58%
Volatility (1Y) Calculated over the trailing 1-year period	11.29%	4.88%	+6.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.49%	6.90%	+6.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.18%	6.71%	+6.47%

FPUKX vs. FCSRX - Expense Ratio Comparison

FPUKX has a 0.43% expense ratio, which is lower than FCSRX's 1.70% expense ratio.

Dividends

FPUKX vs. FCSRX - Dividend Comparison

FPUKX's dividend yield for the trailing twelve months is around 6.03%, more than FCSRX's 2.54% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FCSRX Fidelity Advisor Strategic Real Return Fund Class C	2.54%	3.74%	3.86%	4.35%	6.51%	4.53%	1.32%	2.20%	8.51%	1.58%	1.34%	0.66%
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 FPUKX and FCSRX in my portfolio?

FPUKX and FCSRX have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FPUKX or FCSRX?

FPUKX has higher volatility (3.43%) compared to FCSRX (1.62%). In terms of maximum drawdown, FPUKX dropped -37.81% vs FCSRX's -33.91%.

Which has better risk-adjusted returns?

FCSRX currently has the higher Sharpe Ratio (2.44 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.