FPUKX vs. FIHFX

Last updated Jul 3, 2026

FPUKX (Fidelity Puritan Fund Class K) and FIHFX (Fidelity Freedom Index 2035 Fund Investor Class) are both mutual funds - FPUKX is a Diversified Portfolio fund managed by Fidelity, while FIHFX is a Target Retirement Date fund actively managed by Fidelity. Over the past 10 years, FPUKX returned 11.63%/yr vs 10.26%/yr for FIHFX. Their correlation of 0.94 suggests significant overlap in exposure. FPUKX charges 0.43%/yr vs 0.12%/yr for FIHFX.

Performance

FPUKX vs. FIHFX - Performance Comparison

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

Returns By Period

In the year-to-date period, FPUKX achieves a 10.10% return, which is significantly higher than FIHFX's 7.85% return. Over the past 10 years, FPUKX has outperformed FIHFX with an annualized return of 11.63%, while FIHFX has yielded a comparatively lower 10.26% annualized return.

FPUKX

• 1D: -1.18%
• 1M: -0.07%
• 6M: 10.10%
• YTD: 10.10%
• 1Y: 19.52%
• 3Y*: 16.39%
• 5Y*: 9.10%
• 10Y*: 11.63%

FIHFX

• 1D: -0.59%
• 1M: -1.04%
• 6M: 7.85%
• YTD: 7.85%
• 1Y: 16.51%
• 3Y*: 14.22%
• 5Y*: 7.03%
• 10Y*: 10.26%

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

FPUKX vs. FIHFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FPUKX Fidelity Puritan Fund Class K	10.10%	12.31%	19.03%	20.26%	-17.26%	18.99%	20.70%	21.40%	-4.15%	18.37%
FIHFX Fidelity Freedom Index 2035 Fund Investor Class	7.85%	17.32%	11.22%	17.25%	-17.49%	13.73%	15.54%	24.87%	-6.77%	20.35%

Correlation

The correlation between FPUKX and FIHFX is 0.92, 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	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (10Y) Calculated over the trailing 10-year period	0.93
Correlation (All Time) Calculated using the full available price history since Oct 5, 2009	0.94

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

Return for Risk

FPUKX vs. FIHFX — Risk / Return Rank

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

FPUKX

FPUKX Risk / Return Rank: 68
FPUKX Sharpe Ratio Rank: 64
FPUKX Sortino Ratio Rank: 59
FPUKX Omega Ratio Rank: 62
FPUKX Calmar Ratio Rank: 73
FPUKX Martin Ratio Rank: 80

FIHFX

FIHFX Risk / Return Rank: 58
FIHFX Sharpe Ratio Rank: 57
FIHFX Sortino Ratio Rank: 57
FIHFX Omega Ratio Rank: 57
FIHFX Calmar Ratio Rank: 56
FIHFX Martin Ratio Rank: 64

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.

FPUKX vs. FIHFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Puritan Fund Class K (FPUKX) and Fidelity Freedom Index 2035 Fund Investor Class (FIHFX). 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	FIHFX	Difference
Sharpe ratio: Return per unit of total volatility	1.84	1.78	+0.06
Sortino ratio: Return per unit of downside risk	2.54	2.51	+0.03
Omega ratio: Gain probability vs. loss probability	1.34	1.33	+0.01
Calmar ratio: Return relative to maximum drawdown	2.76	2.41	+0.36
Martin ratio: Return relative to average drawdown	11.82	10.21	+1.62

FPUKX vs. FIHFX - Sharpe Ratio Comparison

The current FPUKX Sharpe Ratio is 1.84, which is comparable to the FIHFX Sharpe Ratio of 1.78. The chart below compares the historical Sharpe Ratios of FPUKX and FIHFX, 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. FIHFX - Drawdown Comparison

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

Drawdown Indicators

	FPUKX	FIHFX	Difference
Max Drawdown Largest peak-to-trough decline	-37.81%	-28.42%	-9.39%
Max Drawdown (1Y) Largest decline over 1 year	-7.24%	-6.99%	-0.25%
Max Drawdown (3Y) Largest decline over 3 years	-16.46%	-10.98%	-5.48%
Max Drawdown (5Y) Largest decline over 5 years	-22.52%	-24.84%	+2.32%
Max Drawdown (10Y) Largest decline over 10 years	-23.91%	-28.42%	+4.51%
Current Drawdown Current decline from peak	-1.48%	-1.04%	-0.44%
Average Drawdown Average peak-to-trough decline	-4.93%	-3.97%	-0.96%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.69%	1.64%	+0.05%

Volatility

FPUKX vs. FIHFX - Volatility Comparison

Fidelity Puritan Fund Class K (FPUKX) has a higher volatility of 5.22% compared to Fidelity Freedom Index 2035 Fund Investor Class (FIHFX) at 3.99%. This indicates that FPUKX's price experiences larger fluctuations and is considered to be riskier than FIHFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FPUKX	FIHFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.22%	3.99%	+1.23%
Volatility (6M) Calculated over the trailing 6-month period	9.06%	7.98%	+1.08%
Volatility (1Y) Calculated over the trailing 1-year period	10.89%	9.43%	+1.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.48%	12.01%	+1.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.15%	13.30%	-0.15%

FPUKX vs. FIHFX - Expense Ratio Comparison

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

Dividends

FPUKX vs. FIHFX - Dividend Comparison

FPUKX's dividend yield for the trailing twelve months is around 6.26%, more than FIHFX's 2.58% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIHFX Fidelity Freedom Index 2035 Fund Investor Class	2.58%	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	6.26%	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 FIHFX in my portfolio?

With a correlation of 0.92, FPUKX and FIHFX 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, FPUKX or FIHFX?

FPUKX has higher volatility (5.22%) compared to FIHFX (3.99%). In terms of maximum drawdown, FPUKX dropped -37.81% vs FIHFX's -28.42%.

Which has better risk-adjusted returns?

FPUKX currently has the higher Sharpe Ratio (1.84 vs 1.78), 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.