PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan

Putnam International Value Fund (PNGAX) Diversifiers

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

The fund invests mainly in common stocks of large and midsize companies outside the United States, with a focus on value stocks. Value stocks are those that the adviser believes are currently undervalued by the market. It invests mainly in developed countries, but may invest in emerging markets. The fund also use derivatives, which are expected to include certain foreign currency transactions.

Looking to diversify beyond PNGAX? The mutual funds below have the lowest correlation with PNGAX — 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 PNGAX.

Best Diversifiers for PNGAX

3 mutual funds have low correlation with PNGAX (below 0.3), 0 of which are negatively correlated. The least correlated is Putnam Ultra Short Duration Income Fund (PSDYX) (Ultrashort Bond) with a 1Y correlation of 0.14, roughly unchanged from 0.08 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
PSDYX
Putnam Ultra Short Duration Income Fund0.140.130.08
98
Ultrashort BondPNGAX vs PSDYX
FMUSX
Federated Hermes Municipal Ultra Short Fund0.200.110.06
93
Municipal BondsPNGAX vs FMUSX
CMNIX
Calamos Market Neutral Income Fund Institutional C...0.280.370.55
98
PNGAX vs CMNIX
PGTYX
Putnam Global Technology Fund0.510.490.57
91
Technology EquitiesPNGAX vs PGTYX
KGIIX
Kopernik International Fund0.580.510.62
81
Foreign Large Cap EquitiesPNGAX vs KGIIX
See all 32 diversifiers for PNGAX

To view more results, upgrade your current subscription plan.

Diversification Analysis

Build a portfolio that complements PNGAX

Add PNGAX to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.

Analyze a portfolio with PNGAX