ANWFX vs. PSDYX

Last updated Aug 1, 2026

ANWFX (American Funds New Perspective Fund Class F-2) and PSDYX (Putnam Ultra Short Duration Income Fund) are both mutual funds - ANWFX is a Global Equities fund tracking the MSCI All Country World Index (ACWI), while PSDYX is a Ultrashort Bond fund managed by Putnam. Over the past 10 years, ANWFX returned 13.00%/yr vs 2.53%/yr for PSDYX. Their 0.01 correlation means their historical movements had little consistent relationship. ANWFX charges 0.51%/yr vs 0.30%/yr for PSDYX.

Performance

ANWFX vs. PSDYX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Funds New Perspective Fund Class F-2 (ANWFX) and Putnam Ultra Short Duration Income Fund (PSDYX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ANWFX achieves a 4.10% return, which is significantly higher than PSDYX's 1.68% return. Over the past 10 years, ANWFX has outperformed PSDYX with an annualized return of 13.00%, while PSDYX has yielded a comparatively lower 2.53% annualized return.

ANWFX

• 1D: 2.17%
• 1M: -1.96%
• 6M: 1.51%
• YTD: 4.10%
• 1Y: 13.31%
• 3Y*: 15.31%
• 5Y*: 7.64%
• 10Y*: 13.00%
• ALL TIME*: 9.86%

PSDYX

• 1D: 0.00%
• 1M: -0.10%
• 6M: 1.31%
• YTD: 1.68%
• 1Y: 3.63%
• 3Y*: 4.59%
• 5Y*: 3.43%
• 10Y*: 2.53%
• ALL TIME*: 2.01%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ANWFX American Funds New Perspective Fund Class F-2	$0.00	$0.00	$0.00
PSDYX Putnam Ultra Short Duration Income Fund	$0.00	$0.00	$0.00

ANWFX vs. PSDYX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ANWFX American Funds New Perspective Fund Class F-2	4.10%	21.60%	16.98%	24.93%	-25.76%	17.88%	33.71%	30.36%	-5.79%	29.13%
PSDYX Putnam Ultra Short Duration Income Fund	1.68%	4.99%	5.25%	4.78%	0.61%	0.07%	1.50%	2.86%	1.95%	1.40%

Correlation

The correlation between ANWFX and PSDYX is 0.12, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.12
Correlation (3Y) Balances recent behavior with more history.	0.08
Correlation (5Y) Shows whether the relationship held over a longer period.	0.06
Correlation (10Y) Provides a long-term view across more market conditions.	0.04
Correlation (All Time) Calculated using the full available price history since Aug 3, 2012	0.01

The correlation between ANWFX and PSDYX shifts across timeframes, from 0.01 (all time) to 0.12 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

ANWFX vs. PSDYX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

ANWFX

ANWFX Risk / Return Rank: 22
ANWFX Sharpe Ratio Rank: 20
ANWFX Sortino Ratio Rank: 20
ANWFX Omega Ratio Rank: 21
ANWFX Calmar Ratio Rank: 20
ANWFX Martin Ratio Rank: 27

PSDYX

PSDYX Risk / Return Rank: 99
PSDYX Sharpe Ratio Rank: 98
PSDYX Sortino Ratio Rank: 99
PSDYX Omega Ratio Rank: 99
PSDYX Calmar Ratio Rank: 99
PSDYX Martin Ratio Rank: 99

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ANWFX vs. PSDYX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Funds New Perspective Fund Class F-2 (ANWFX) and Putnam Ultra Short Duration Income Fund (PSDYX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

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.

	ANWFX	PSDYX	Difference
Sharpe ratio: Return per unit of total volatility	0.78	3.07	-2.29
Sortino ratio: Return per unit of downside risk	1.17	10.05	-8.87
Omega ratio: Gain probability vs. loss probability	1.15	3.43	-2.28
Calmar ratio: Return relative to maximum drawdown	1.01	8.46	-7.45
Martin ratio: Return relative to average drawdown	4.04	41.33	-37.29

ANWFX vs. PSDYX - Sharpe Ratio Comparison

The current ANWFX Sharpe Ratio is 0.78, which is lower than the PSDYX Sharpe Ratio of 3.07. The chart below compares the historical Sharpe Ratios of ANWFX and PSDYX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ANWFX vs. PSDYX - Drawdown Comparison

The maximum ANWFX drawdown since its inception was -49.65%, which is greater than PSDYX's maximum drawdown of -2.58%. Use the drawdown chart below to compare losses from any high point for ANWFX and PSDYX.

Drawdown Indicators

	ANWFX	PSDYX	Difference
Max Drawdown Largest peak-to-trough decline	-49.65%	-2.58%	-47.07%
Max Drawdown (1Y) Largest decline over 1 year	-11.46%	-0.49%	-10.97%
Max Drawdown (3Y) Largest decline over 3 years	-17.90%	-0.49%	-17.41%
Max Drawdown (5Y) Largest decline over 5 years	-34.32%	-0.80%	-33.52%
Max Drawdown (10Y) Largest decline over 10 years	-34.32%	-2.58%	-31.74%
Current Drawdown Current decline from peak	-3.20%	-0.10%	-3.10%
Average Drawdown Average peak-to-trough decline	-7.69%	-0.07%	-7.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.86%	0.10%	+2.76%

Volatility

ANWFX vs. PSDYX - Volatility Comparison

American Funds New Perspective Fund Class F-2 (ANWFX) has a higher volatility of 4.52% compared to Putnam Ultra Short Duration Income Fund (PSDYX) at 0.17%. This indicates that ANWFX's price experiences larger fluctuations and is considered to be riskier than PSDYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ANWFX	PSDYX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.52%	0.17%	+4.35%
Volatility (6M) Calculated over the trailing 6-month period	12.52%	0.93%	+11.59%
Volatility (1Y) Calculated over the trailing 1-year period	14.88%	1.36%	+13.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.44%	1.31%	+16.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.81%	1.06%	+16.75%

ANWFX vs. PSDYX - Expense Ratio Comparison

ANWFX has a 0.51% expense ratio, which is higher than PSDYX's 0.30% expense ratio.

Dividends

ANWFX vs. PSDYX - Dividend Comparison

ANWFX's dividend yield for the trailing twelve months is around 6.54%, more than PSDYX's 3.97% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ANWFX American Funds New Perspective Fund Class F-2	6.54%	6.81%	5.38%	5.60%	4.42%	7.25%	4.35%	3.90%	7.88%	5.72%	4.14%	6.39%
PSDYX Putnam Ultra Short Duration Income Fund	3.97%	4.65%	4.81%	3.65%	1.30%	0.37%	1.09%	2.51%	2.23%	1.29%	0.88%	0.57%

Frequently Asked Questions

Can I hold both ANWFX and PSDYX in my portfolio?

ANWFX and PSDYX have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ANWFX or PSDYX?

ANWFX has higher volatility (4.52%) compared to PSDYX (0.17%). In terms of maximum drawdown, ANWFX dropped -49.65% vs PSDYX's -2.58%.

Which has better risk-adjusted returns?

PSDYX currently has the higher Sharpe Ratio (3.07 vs 0.78), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.