- ISIN
- US7468028839
- CUSIP
- 746802883
- Issuer
- Putnam
- Inception Date
- Oct 2, 1995
- Category
- Large Cap Blend Equities
- Min. Investment
- $0
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Blend
Share Price Chart
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Performance
PNRAX Performance Chart
Putnam Research Fund (PNRAX) is up 11.1% since the beginning of the year. PNRAX is currently trading at $62 per share. Investors who bought $1,000 worth of PNRAX shares 5 years ago would now be looking at an investment worth $1,953.
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Returns By Period
Putnam Research Fund (PNRAX) has returned 11.06% so far this year and 29.24% over the past 12 months. Looking at the last ten years, PNRAX has achieved an annualized return of 15.99%, outperforming the S&P 500 Index benchmark, which averaged 13.42% per year.
Putnam Research Fund
- 1D
- 0.39%
- 1M
- 1.45%
- YTD
- 11.06%
- 6M
- 11.31%
- 1Y
- 29.24%
- 3Y*
- 23.27%
- 5Y*
- 14.33%
- 10Y*
- 15.99%
Benchmark (S&P 500 Index)
- 1D
- -0.26%
- 1M
- -0.17%
- YTD
- 7.91%
- 6M
- 7.98%
- 1Y
- 22.99%
- 3Y*
- 19.77%
- 5Y*
- 11.75%
- 10Y*
- 13.42%
PNRAX Monthly Returns History
Based on dividend-adjusted daily data since Jan 2, 1996, PNRAX's average daily return is +0.04%, while the average monthly return is +0.87%. At this rate, an investment would double in approximately 6.7 years.
Historically, 63% of months were positive and 37% were negative. The best month was Oct 2011 with a return of +12.2%, while the worst month was Oct 2008 at -17.2%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 5 months.
On a daily basis, PNRAX closed higher 53% of trading days. The best single day was Oct 13, 2008 with a return of +11.7%, while the worst single day was Dec 19, 1997 at -16.3%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 1.57% | -0.41% | -4.40% | 10.71% | 5.81% | -1.97% | 11.06% | ||||||
| 2025 | 2.96% | -2.08% | -6.56% | -1.09% | 6.85% | 5.63% | 2.41% | 1.79% | 4.30% | 2.80% | 0.77% | -0.30% | 18.11% |
| 2024 | 2.38% | 5.81% | 3.66% | -4.05% | 5.36% | 3.69% | 0.68% | 1.77% | 2.79% | -0.79% | 5.51% | -2.75% | 26.21% |
| 2023 | 6.13% | -2.05% | 3.19% | 1.87% | 1.28% | 6.41% | 3.06% | -1.27% | -4.13% | -1.69% | 9.10% | 4.56% | 28.83% |
| 2022 | -4.92% | -3.40% | 2.83% | -8.05% | 0.50% | -7.97% | 9.36% | -4.02% | -9.30% | 8.59% | 5.77% | -6.01% | -17.45% |
| 2021 | -0.92% | 2.85% | 3.45% | 5.28% | 0.13% | 2.67% | 2.34% | 3.21% | -4.91% | 7.40% | -1.64% | 2.70% | 24.32% |
Benchmark Metrics
Putnam Research Fund has an annualized alpha of 0.90%, beta of 1.01, and R2 of 0.95 versus S&P 500 Index. Calculated based on daily prices since January 02, 1996.
- This fund captured 106.59% of S&P 500 Index gains and 102.35% of its losses - amplifying both gains and losses, but participating more in upside than downside.
- With beta of 1.01 and R2 of 0.95, this fund moves broadly in line with S&P 500 Index - much of its variation is explained by market exposure rather than independent behavior.
- Alpha
- 0.90%
- Beta
- 1.01
- R²
- 0.95
- Upside Capture
- 106.59%
- Downside Capture
- 102.35%
Expense Ratio
PNRAX has a high expense ratio of 1.03%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
PNRAX ranks 83 for risk / return — in the top 83% of mutual funds on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Putnam Research Fund (PNRAX) and compare them to S&P 500 Index.
| PNRAX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.47 | ||
| Sortino ratioReturn per unit of downside risk | +0.59 | ||
| Omega ratioGain probability vs. loss probability | 1.44 | 1.35 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 3.59 | 2.54 | +1.05 |
| Martin ratioReturn relative to average drawdown | 16.71 | 11.58 | +5.13 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Dividends
Dividend History
Putnam Research Fund provided a 10.34% dividend yield over the last twelve months, with an annual payout of $6.42 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $6.42 | $6.42 | $4.00 | $0.13 | $3.30 | $3.54 | $0.81 | $2.47 | $4.17 | $0.52 | $0.29 | $0.30 |
Dividend yield | 10.34% | 11.49% | 7.57% | 0.28% | 9.46% | 7.67% | 2.02% | 7.24% | 15.09% | 1.57% | 1.06% | 1.19% |
Monthly Dividends
The table displays the monthly dividend distributions for Putnam Research 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 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $6.42 | $6.42 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $4.00 | $4.00 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.13 | $0.13 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $3.30 | $3.30 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $3.54 | $3.54 |
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 Research 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 Research Fund was 57.49%, occurring on Mar 9, 2009. Recovery took 961 trading sessions.
The current Putnam Research Fund drawdown is 2.74%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -57.49%Mar 2009 | 8y 6mo | 3y 10mo | 12y 4moSep 2000 - Jan 2013 |
COVID crash2020 | -33.35%Mar 2020 | 1mo 2d | 4mo 15d | 5mo 17dFeb 2020 - Aug 2020 |
Bear market2022 | -24.37%Sep 2022 | 10mo 17d | 1y 1mo | 2y 3dNov 2021 - Nov 2023 |
1998 bear market1998 | -22.18%Jan 1998 | 3mo 3d | 10mo 18d | 1y 1moOct 1997 - Nov 1998 |
2025 selloff2025 | -20.26%Apr 2025 | 2mo 14d | 2mo 20d | 5mo 4dJan 2025 - Jun 2025 |
Drawdown Indicators
| PNRAX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.49% | -56.78% | -0.71% |
Max Drawdown (1Y)Largest decline over 1 year | -8.24% | -9.10% | +0.86% |
Max Drawdown (3Y)Largest decline over 3 years | -20.26% | -18.90% | -1.36% |
Max Drawdown (5Y)Largest decline over 5 years | -24.37% | -25.43% | +1.06% |
Max Drawdown (10Y)Largest decline over 10 years | -33.35% | -33.92% | +0.57% |
Current DrawdownCurrent decline from peak | -2.74% | -2.93% | +0.19% |
Average DrawdownAverage peak-to-trough decline | -12.04% | -10.72% | -1.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.76% | 1.99% | -0.23% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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