- ISIN
- US7464761003
- CUSIP
- 746476100
- Issuer
- Putnam
- Inception Date
- Jun 28, 1972
- Category
- Convertible Bonds
- Min. Investment
- $0
- Distribution Policy
- Distributing
- Asset Class
- Bond
Share Price Chart
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Performance
PCONX Performance Chart
Putnam Convertible Securities Fund (PCONX) is up 14.1% since the beginning of the year. PCONX is currently trading at $31 per share. Investors who bought $1,000 worth of PCONX shares 5 years ago would now be looking at an investment worth $1,279.
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Returns By Period
Putnam Convertible Securities Fund (PCONX) has returned 14.08% so far this year and 20.05% over the past 12 months. Over the last ten years, PCONX has returned 10.65% per year, falling short of the S&P 500 Index benchmark, which averaged 13.26% annually.
Putnam Convertible Securities Fund
- 1D
- 3.35%
- 1M
- -2.66%
- 6M
- 8.93%
- YTD
- 14.08%
- 1Y
- 20.05%
- 3Y*
- 13.31%
- 5Y*
- 5.04%
- 10Y*
- 10.65%
- ALL TIME*
- 7.79%
Benchmark (S&P 500 Index)
- 1D
- 0.70%
- 1M
- 0.09%
- 6M
- 7.94%
- YTD
- 9.41%
- 1Y
- 20.07%
- 3Y*
- 17.84%
- 5Y*
- 11.25%
- 10Y*
- 13.26%
- ALL TIME*
- 8.09%
PCONX Monthly Returns History
Based on dividend-adjusted daily data since Jan 2, 1980, PCONX's average daily return is +0.03%, while the average monthly return is +0.70%. At this rate, an investment would double in approximately 8.3 years.
Historically, 63% of months were positive and 37% were negative. The best month was Jan 1980 with a return of +12.3%, while the worst month was Oct 2008 at -22.0%. The longest winning streak lasted 13 consecutive months, and the longest losing streak was 5 months.
On a daily basis, PCONX closed higher 54% of trading days. The best single day was Dec 7, 1987 with a return of +5.5%, while the worst single day was Feb 10, 1981 at -19.9%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 4.73% | 0.95% | -3.25% | 11.57% | 5.83% | 0.49% | -6.01% | 14.08% | |||||
| 2025 | 3.00% | -2.80% | -3.35% | 1.78% | 3.78% | 3.69% | 1.70% | 1.14% | 3.16% | 2.21% | -2.01% | -0.58% | 11.97% |
| 2024 | -0.91% | 1.48% | 1.84% | -2.92% | 2.75% | 1.24% | 2.14% | 1.69% | 2.70% | 0.40% | 6.14% | -4.22% | 12.60% |
| 2023 | 4.28% | -1.85% | 0.57% | -0.96% | 0.83% | 3.88% | 1.95% | -2.95% | -2.85% | -4.02% | 5.77% | 5.68% | 10.13% |
| 2022 | -6.75% | -0.04% | 0.46% | -6.66% | -2.38% | -6.96% | 5.91% | 0.23% | -6.55% | 3.95% | 2.32% | -3.61% | -19.27% |
| 2021 | 1.33% | 3.76% | -3.94% | 3.38% | -2.17% | 2.53% | -0.44% | 1.84% | -1.78% | 3.27% | -3.72% | 0.51% | 4.23% |
Benchmark Metrics
Putnam Convertible Securities Fund has an annualized alpha of 2.71%, beta of 0.52, and R2 of 0.61 versus S&P 500 Index. Calculated based on daily prices since January 02, 1980.
- This fund participated in 75.30% of S&P 500 Index downside but only 71.38% of its upside - more exposed to losses than it benefited from rallies.
- This fund generated an annualized alpha of 2.71% versus S&P 500 Index - delivering returns beyond what market exposure alone would predict.
- Beta of 0.52 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
- 2.71%
- Beta
- 0.52
- R²
- 0.61
- Upside Capture
- 71.38%
- Downside Capture
- 75.30%
Expense Ratio
PCONX has a high expense ratio of 1.03%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
PCONX ranks 34 for risk / return — above 34% of mutual funds peers on PortfoliosLab. Its historical combined result is below the peer median.
Risk / Return Metrics
The table below present risk-adjusted performance metrics for Putnam Convertible Securities Fund (PCONX) 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.
| PCONX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.31 | ||
| Sortino ratioReturn per unit of downside risk | -0.38 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.25 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.69 | 2.00 | -0.31 |
| Martin ratioReturn relative to average drawdown | 6.22 | 8.49 | -2.28 |
Dividends
Dividend History
Putnam Convertible Securities Fund provided a 4.22% dividend yield over the last twelve months, with an annual payout of $1.30 per share. The fund has been increasing its distributions for 3 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $1.30 | $1.65 | $0.38 | $0.23 | $0.15 | $7.15 | $3.75 | $1.93 | $3.01 | $0.89 | $0.48 | $1.34 |
Dividend yield | 4.22% | 6.10% | 1.48% | 0.99% | 0.72% | 26.98% | 11.62% | 7.72% | 13.92% | 3.48% | 2.08% | 6.22% |
Monthly Dividends
The table displays the monthly dividend distributions for Putnam Convertible Securities 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 | $0.03 | $0.00 | $0.00 | $0.05 | $0.07 | |||||
| 2025 | $0.00 | $0.00 | $0.19 | $0.00 | $0.00 | $0.00 | $0.23 | $0.00 | $0.00 | $0.20 | $0.00 | $1.03 | $1.65 |
| 2024 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $0.08 | $0.00 | $0.00 | $0.14 | $0.38 |
| 2023 | $0.00 | $0.00 | $0.04 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $0.06 | $0.00 | $0.00 | $0.08 | $0.23 |
| 2022 | $0.00 | $0.00 | $0.03 | $0.00 | $0.00 | $0.03 | $0.00 | $0.00 | $0.04 | $0.00 | $0.00 | $0.04 | $0.15 |
| 2021 | $0.00 | $0.00 | $0.03 | $0.00 | $0.00 | $0.03 | $0.00 | $0.00 | $0.03 | $0.00 | $0.00 | $7.06 | $7.15 |
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 Convertible Securities 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 Convertible Securities Fund was 47.70%, occurring on Nov 21, 2008. Recovery took 475 trading sessions.
The current Putnam Convertible Securities Fund drawdown is 7.92%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-47.70%Nov 2008 | 1y 1mo | 1y 10mo | 2y 12moOct 2007 - Oct 2010 | Financial crisis2007–2009 |
-36.79%Oct 2002 | 2y 7mo | 1y 4mo | 3y 11moMar 2000 - Mar 2004 | Dot-com crash2000–2002 |
-32.39%Aug 1982 | 1y 8mo | 3y 10mo | 5y 7moNov 1980 - Jun 1986 | — |
-28.14%Dec 1987 | 3mo 10d | 1y 7mo | 1y 10moAug 1987 - Jul 1989 | Black Monday1987 |
-26.14%Jun 2022 | 1y 4mo | 3y 17d | 4y 4moFeb 2021 - Jul 2025 | Bear market2022 |
Drawdown Indicators
| PCONX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.70% | -56.78% | +9.08% |
Max Drawdown (1Y)Largest decline over 1 year | -10.91% | -9.10% | -1.81% |
Max Drawdown (3Y)Largest decline over 3 years | -13.41% | -18.90% | +5.49% |
Max Drawdown (5Y)Largest decline over 5 years | -25.48% | -25.43% | -0.05% |
Max Drawdown (10Y)Largest decline over 10 years | -26.14% | -33.92% | +7.78% |
Current DrawdownCurrent decline from peak | -7.92% | -1.58% | -6.34% |
Average DrawdownAverage peak-to-trough decline | -8.28% | -10.70% | +2.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.96% | 2.14% | +0.82% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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