Putnam Mortgage Securities Fund (PGSIX)

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Putnam Mortgage Securities Fund (PGSIX) is up 2.6% since the beginning of the year. PGSIX is currently trading at $8 per share. Investors who bought $1,000 worth of PGSIX shares 5 years ago would now be looking at an investment worth $1,020.

Putnam Mortgage Securities Fund (PGSIX) has returned 2.64% so far this year and 8.46% over the past 12 months. Over the last ten years, PGSIX has returned 1.48% per year, falling short of the S&P 500 Index benchmark, which averaged 13.65% annually.

Based on dividend-adjusted daily data since May 31, 1996, PGSIX's average daily return is +0.02%, while the average monthly return is +0.33%. At this rate, an investment would double in approximately 17.5 years.

Historically, 69% of months were positive and 31% were negative. The best month was Dec 2008 with a return of +6.5%, while the worst month was Mar 2020 at -10.6%. The longest winning streak lasted 21 consecutive months, and the longest losing streak was 6 months.

On a daily basis, PGSIX closed higher 45% of trading days. The best single day was Jan 5, 2009 with a return of +3.2%, while the worst single day was Mar 19, 2020 at -4.6%.

Putnam Mortgage Securities Fund has an annualized alpha of 3.74%, beta of 0.03, and R2 of 0.01 versus S&P 500 Index. Calculated based on daily prices since June 03, 1996.

• This fund participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (12.88%) than losses (0.47%) - typical of diversified or defensive assets.
• Beta of 0.03 may look defensive, but with R2 of 0.01 this fund is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
• R2 of 0.01 means this fund moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.

PGSIX has an expense ratio of 0.89%, placing it in the medium range.

PGSIX ranks 52 for risk / return — on par with similar mutual funds. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.

The table below present risk-adjusted performance metrics for Putnam Mortgage Securities Fund (PGSIX) and compare them to S&P 500 Index.

Putnam Mortgage Securities Fund provided a 4.64% dividend yield over the last twelve months, with an annual payout of $0.37 per share.

The table displays the monthly dividend distributions for Putnam Mortgage Securities Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

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.

The table below displays the maximum drawdowns of the Putnam Mortgage 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 Mortgage Securities Fund was 22.28%, occurring on Oct 19, 2023. Recovery took 590 trading sessions.

The current Putnam Mortgage Securities Fund drawdown is 0.25%.

The chart below shows the rolling one-month volatility.