FPURX vs. FBIFX

Last updated Jun 4, 2026

FPURX (Fidelity Puritan Fund) and FBIFX (Fidelity Freedom Index 2040 Fund Investor Class) are both mutual funds - FPURX is a Diversified Portfolio fund managed by Fidelity, while FBIFX is a Target Retirement Date fund managed by Fidelity. Over the past 10 years, FPURX returned 11.53%/yr vs 11.48%/yr for FBIFX. Their correlation of 0.94 suggests significant overlap in exposure. FPURX charges 0.50%/yr vs 0.12%/yr for FBIFX.

Performance

FPURX vs. FBIFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Puritan Fund (FPURX) and Fidelity Freedom Index 2040 Fund Investor Class (FBIFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FPURX achieves a 10.15% return, which is significantly lower than FBIFX's 10.96% return. Both investments have delivered pretty close results over the past 10 years, with FPURX having a 11.53% annualized return and FBIFX not far behind at 11.48%.

FPURX

• 1D: 0.35%
• 1M: 4.19%
• YTD: 10.15%
• 6M: 10.56%
• 1Y: 23.46%
• 3Y*: 17.25%
• 5Y*: 9.61%
• 10Y*: 11.53%

FBIFX

• 1D: 0.38%
• 1M: 4.89%
• YTD: 10.96%
• 6M: 11.69%
• 1Y: 25.65%
• 3Y*: 18.07%
• 5Y*: 9.25%
• 10Y*: 11.48%

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

FPURX vs. FBIFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FPURX Fidelity Puritan Fund	10.15%	12.22%	18.94%	20.20%	-17.35%	18.92%	20.58%	21.27%	-4.18%	18.28%
FBIFX Fidelity Freedom Index 2040 Fund Investor Class	10.96%	19.88%	13.32%	19.37%	-18.16%	15.88%	16.47%	25.95%	-7.24%	20.58%

Correlation

The correlation between FPURX and FBIFX 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 (10Y) Calculated over the trailing 10-year period	0.94
Correlation (All Time) Calculated using the full available price history since Oct 6, 2009	0.94

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

Return for Risk

FPURX vs. FBIFX — Risk / Return Rank

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

FPURX

FPURX Risk / Return Rank: 71
FPURX Sharpe Ratio Rank: 71
FPURX Sortino Ratio Rank: 66
FPURX Omega Ratio Rank: 67
FPURX Calmar Ratio Rank: 73
FPURX Martin Ratio Rank: 78

FBIFX

FBIFX Risk / Return Rank: 71
FBIFX Sharpe Ratio Rank: 74
FBIFX Sortino Ratio Rank: 70
FBIFX Omega Ratio Rank: 68
FBIFX Calmar Ratio Rank: 69
FBIFX Martin Ratio Rank: 74

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.

FPURX vs. FBIFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Puritan Fund (FPURX) and Fidelity Freedom Index 2040 Fund Investor Class (FBIFX). 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.

	FPURX	FBIFX	Difference
Sharpe ratio Return per unit of total volatility	2.46	2.49	-0.04
Sortino ratio Return per unit of downside risk	3.39	3.48	-0.08
Omega ratio Gain probability vs. loss probability	1.46	1.46	0.00
Calmar ratio Return relative to maximum drawdown	3.31	3.21	+0.10
Martin ratio Return relative to average drawdown	14.75	14.06	+0.70
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FPURX vs. FBIFX - Sharpe Ratio Comparison

The current FPURX Sharpe Ratio is 2.46, which is comparable to the FBIFX Sharpe Ratio of 2.49. The chart below compares the historical Sharpe Ratios of FPURX and FBIFX, 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

	FPURX	FBIFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.46	2.49	-0.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.73	0.67	+0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.88	0.77	+0.11
Sharpe Ratio (All Time) Calculated using the full available price history	0.73	0.72	+0.01

Drawdowns

FPURX vs. FBIFX - Drawdown Comparison

The maximum FPURX drawdown since its inception was -31.76%, roughly equal to the maximum FBIFX drawdown of -30.73%. Use the drawdown chart below to compare losses from any high point for FPURX and FBIFX.

Drawdown Indicators

	FPURX	FBIFX	Difference
Max Drawdown Largest peak-to-trough decline	-31.76%	-30.73%	-1.03%
Max Drawdown (1Y) Largest decline over 1 year	-7.24%	-8.10%	+0.86%
Max Drawdown (3Y) Largest decline over 3 years	-16.51%	-13.45%	-3.06%
Max Drawdown (5Y) Largest decline over 5 years	-22.53%	-26.12%	+3.59%
Max Drawdown (10Y) Largest decline over 10 years	-23.93%	-30.73%	+6.80%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-4.65%	-4.11%	-0.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.62%	1.85%	-0.23%

Volatility

FPURX vs. FBIFX - Volatility Comparison

Fidelity Puritan Fund (FPURX) and Fidelity Freedom Index 2040 Fund Investor Class (FBIFX) have volatilities of 3.21% and 3.19%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FPURX	FBIFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.21%	3.19%	+0.02%
Volatility (6M) Calculated over the trailing 6-month period	7.81%	8.39%	-0.58%
Volatility (1Y) Calculated over the trailing 1-year period	9.75%	10.43%	-0.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.28%	13.78%	-0.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.10%	14.88%	-1.78%

FPURX vs. FBIFX - Expense Ratio Comparison

FPURX has a 0.50% expense ratio, which is higher than FBIFX's 0.12% expense ratio.

Dividends

FPURX vs. FBIFX - Dividend Comparison

FPURX's dividend yield for the trailing twelve months is around 6.19%, more than FBIFX's 2.21% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FBIFX Fidelity Freedom Index 2040 Fund Investor Class	2.21%	2.35%	2.20%	1.97%	2.08%	1.96%	2.00%	18.26%	2.22%	1.82%	1.98%	2.02%
FPURX Fidelity Puritan Fund	6.19%	6.83%	11.30%	5.34%	9.38%	13.10%	5.10%	4.29%	15.26%	3.78%	3.71%	7.49%

Frequently Asked Questions

Can I hold both FPURX and FBIFX in my portfolio?

With a correlation of 0.93, FPURX and FBIFX 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, FPURX or FBIFX?

FPURX has higher volatility (3.21%) compared to FBIFX (3.19%). In terms of maximum drawdown, FPURX dropped -31.76% vs FBIFX's -30.73%.

Which has better risk-adjusted returns?

FBIFX currently has the higher Sharpe Ratio (2.49 vs 2.46), 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.