Depends what you mean by break, probably. I've been using Fedora as my primary desktop/home server since it began. I pretty much never see breakage from regular updates. I do expect to see something break whenever I upgrade from one release to another. I'm pleasantly surprised when it doesn't.
Usually it's something like "I need to ediff-merge foo.conf with foo.conf.rpmnew", or "I need to reinstall this dependency of my webapp to the new python site-packages directory", so you wouldn't see this kind of breakage on a clean install.
Nothing you can't fix but I thought you might want to be aware of it up front.