- ISIN
- US7464443065
- CUSIP
- 746444306
- Issuer
- Putnam
- Inception Date
- Feb 6, 1994
- Category
- Diversified Portfolio
- Min. Investment
- $0
- Distribution Policy
- Distributing
- Asset Class
- Multi-Asset
- Asset Class Size
- Large-Cap
- Asset Class Style
- Blend
Share Price Chart
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Performance
PABAX Performance Chart
Putnam Dynamic Asset Allocation Balanced Fund (PABAX) is up 7.2% since the beginning of the year. PABAX is currently trading at $18 per share. Investors who bought $1,000 worth of PABAX shares 5 years ago would now be looking at an investment worth $1,460.
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Returns By Period
Putnam Dynamic Asset Allocation Balanced Fund (PABAX) has returned 7.18% so far this year and 18.84% over the past 12 months. Over the last ten years, PABAX has returned 8.79% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
Putnam Dynamic Asset Allocation Balanced Fund
- 1D
- 0.84%
- 1M
- 1.29%
- YTD
- 7.18%
- 6M
- 6.92%
- 1Y
- 18.84%
- 3Y*
- 14.58%
- 5Y*
- 7.86%
- 10Y*
- 8.79%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
PABAX Monthly Returns History
Based on dividend-adjusted daily data since Feb 7, 1994, PABAX's average daily return is +0.03%, while the average monthly return is +0.68%. At this rate, an investment would double in approximately 8.5 years.
Historically, 66% of months were positive and 34% were negative. The best month was Dec 1995 with a return of +14.0%, while the worst month was Oct 2008 at -14.2%. The longest winning streak lasted 15 consecutive months, and the longest losing streak was 5 months.
On a daily basis, PABAX closed higher 52% of trading days. The best single day was Dec 20, 1995 with a return of +12.1%, while the worst single day was Dec 19, 2024 at -11.1%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 1.48% | 0.82% | -3.70% | 5.65% | 2.68% | 0.28% | 7.18% | ||||||
| 2025 | 2.46% | -0.00% | -3.34% | 0.45% | 3.65% | 3.40% | 0.56% | 2.22% | 2.52% | 1.04% | 0.57% | 0.65% | 14.90% |
| 2024 | 1.38% | 2.98% | 2.64% | -3.13% | 3.92% | 1.92% | 1.68% | 2.24% | 1.42% | -1.77% | 3.90% | -2.60% | 15.25% |
| 2023 | 5.09% | -1.78% | 1.86% | 0.93% | -0.35% | 3.69% | 1.86% | -1.22% | -3.02% | -1.91% | 7.14% | 2.99% | 15.80% |
| 2022 | -3.80% | -2.10% | 0.59% | -6.42% | 0.47% | -6.59% | 5.90% | -2.92% | -6.62% | 3.98% | 4.77% | -3.19% | -15.76% |
| 2021 | -0.36% | 1.45% | 1.81% | 3.17% | 1.14% | 1.88% | 1.05% | 1.75% | -3.22% | 3.01% | -1.19% | 2.20% | 13.25% |
Benchmark Metrics
Putnam Dynamic Asset Allocation Balanced Fund has an annualized alpha of 2.25%, beta of 0.58, and R2 of 0.81 versus S&P 500 Index. Calculated based on daily prices since February 07, 1994.
- This fund participated in 69.95% of S&P 500 Index downside but only 68.73% of its upside - more exposed to losses than it benefited from rallies.
- This fund generated an annualized alpha of 2.25% versus S&P 500 Index - delivering returns beyond what market exposure alone would predict.
- Beta of 0.58 indicates this fund moves significantly less than S&P 500 Index - a genuinely defensive profile with reduced participation in both market rallies and downturns.
- Alpha
- 2.25%
- Beta
- 0.58
- R²
- 0.81
- Upside Capture
- 68.73%
- Downside Capture
- 69.95%
Expense Ratio
PABAX has a high expense ratio of 0.94%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
PABAX ranks 69 for risk / return — better than 69% of mutual funds on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Putnam Dynamic Asset Allocation Balanced Fund (PABAX) and compare them to S&P 500 Index.
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.
| PABAX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.13 | ||
| Sortino ratioReturn per unit of downside risk | +0.31 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.37 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 3.15 | 2.78 | +0.37 |
| Martin ratioReturn relative to average drawdown | 13.79 | 12.44 | +1.35 |
Dividends
Dividend History
Putnam Dynamic Asset Allocation Balanced Fund provided a 6.57% dividend yield over the last twelve months, with an annual payout of $1.19 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $1.19 | $1.29 | $1.71 | $0.25 | $0.82 | $1.94 | $0.22 | $0.27 | $1.14 | $0.94 | $0.34 | $0.96 |
Dividend yield | 6.57% | 7.60% | 10.79% | 1.63% | 6.10% | 11.51% | 1.35% | 1.81% | 8.72% | 6.15% | 2.39% | 7.06% |
Monthly Dividends
The table displays the monthly dividend distributions for Putnam Dynamic Asset Allocation Balanced Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.05 | $0.00 | $0.00 | $0.05 | ||||||
| 2025 | $0.00 | $0.00 | $0.15 | $0.00 | $0.00 | $0.00 | $0.15 | $0.00 | $0.00 | $0.14 | $0.00 | $0.84 | $1.29 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $1.56 | $1.71 |
| 2023 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $0.08 | $0.25 |
| 2022 | $0.00 | $0.00 | $0.04 | $0.00 | $0.00 | $0.05 | $0.00 | $0.00 | $0.05 | $0.00 | $0.00 | $0.68 | $0.82 |
| 2021 | $0.00 | $0.00 | $0.04 | $0.00 | $0.00 | $0.04 | $0.00 | $0.00 | $0.04 | $0.00 | $0.00 | $1.81 | $1.94 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Putnam Dynamic Asset Allocation Balanced Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Putnam Dynamic Asset Allocation Balanced Fund was 45.92%, occurring on Nov 20, 2008. Recovery took 541 trading sessions.
The current Putnam Dynamic Asset Allocation Balanced Fund drawdown is 0.28%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -45.92%Nov 2008 | 1y 4mo | 2y 1mo | 3y 5moJul 2007 - Jan 2011 |
Dot-com crash2000–2002 | -29.62%Oct 2002 | 2y 1mo | 2y 2mo | 4y 3moSep 2000 - Dec 2004 |
COVID crash2020 | -22.31%Mar 2020 | 1mo 2d | 4mo 14d | 5mo 16dFeb 2020 - Aug 2020 |
Bear market2022 | -20.98%Oct 2022 | 11mo 9d | 1y 3mo | 2y 3moNov 2021 - Feb 2024 |
1998 bear market1998 | -20.59%Oct 1998 | 2mo 19d | 6mo | 8mo 19dJul 1998 - Apr 1999 |
Drawdown Indicators
| PABAX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -45.92% | -56.78% | +10.86% |
Max Drawdown (1Y)Largest decline over 1 year | -5.93% | -9.10% | +3.17% |
Max Drawdown (3Y)Largest decline over 3 years | -18.28% | -18.90% | +0.62% |
Max Drawdown (5Y)Largest decline over 5 years | -20.98% | -25.43% | +4.45% |
Max Drawdown (10Y)Largest decline over 10 years | -22.31% | -33.92% | +11.61% |
Current DrawdownCurrent decline from peak | -0.28% | -1.80% | +1.52% |
Average DrawdownAverage peak-to-trough decline | -5.66% | -10.71% | +5.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.35% | 2.03% | -0.68% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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