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Putnam Mortgage Securities Fund (PGSIX) Diversifiers

Mutual Fund · Currency in USD · Last updated Jun 4, 2026

The investment seeks as high a level of current income as the adviser believes is consistent with preservation of capital. The fund invests mainly in mortgages, mortgage-related fixed income securities and related derivatives that are either investment-grade or below-investment-grade in quality (sometimes referred to as "junk bonds"). Under normal circumstances, it invests at least 80% of its net assets (plus any borrowings for investment purposes) in mortgages, mortgage-related fixed income securities and related derivatives (i.e., derivatives used to acquire exposure to, or whose underlying securities are, mortgages or mortgage-related securities).

Looking to diversify beyond PGSIX? The mutual funds below have the lowest correlation with PGSIX — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from PGSIX.

Best Diversifiers for PGSIX

8 mutual funds have low correlation with PGSIX (below 0.3), 0 of which are negatively correlated. The least correlated is Putnam Global Technology Fund (PGTYX) (Technology Equities) with a 1Y correlation of 0.09, roughly unchanged from 0.17 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
PGTYX
Putnam Global Technology Fund0.090.120.17
91
Technology EquitiesPGSIX vs PGTYX
PNRAX
Putnam Research Fund0.200.200.22
86
Large Cap Blend EquitiesPGSIX vs PNRAX
FXAIX
Fidelity 500 Index Fund0.220.220.23
73
S&P 500PGSIX vs FXAIX
PEQSX
Putnam Large Cap Value Fund Class R60.230.220.22
81
Large Cap Value EquitiesPGSIX vs PEQSX
PEIYX
Putnam Large Cap Value Fund0.230.230.22
81
Large Cap Value EquitiesPGSIX vs PEIYX
See all 15 diversifiers for PGSIX

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Low-Correlation Stock Ideas

If you're looking for individual stocks that move independently from PGSIX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to PGSIX and solid risk/return profiles. The least correlated is Eaton Vance Tax-Managed Buy-Write Opportunities Fund (ETV) (Financial Services) with a 1Y correlation of 0.15, roughly unchanged from 0.15 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankSector
ETV
Eaton Vance Tax-Managed Buy-Write Opportunities Fu...0.150.150.15
79
Financial Services

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