CUT vs. FPURX

Last updated Jun 23, 2026

CUT (Invesco MSCI Global Timber ETF) and FPURX (Fidelity Puritan Fund) are both funds - CUT is a Materials fund tracking the Beacon Global Timber Index, while FPURX is a Diversified Portfolio fund actively managed by Fidelity. CUT is passively managed, while FPURX is actively managed. Over the past 10 years, CUT returned 4.69%/yr vs 11.75%/yr for FPURX. A 0.72 correlation means they provide meaningful diversification when combined. CUT charges 0.55%/yr vs 0.50%/yr for FPURX.

Performance

CUT vs. FPURX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco MSCI Global Timber ETF (CUT) and Fidelity Puritan Fund (FPURX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CUT achieves a -4.36% return, which is significantly lower than FPURX's 11.38% return. Over the past 10 years, CUT has underperformed FPURX with an annualized return of 4.69%, while FPURX has yielded a comparatively higher 11.75% annualized return.

CUT

• 1D: -0.62%
• 1M: 3.03%
• YTD: -4.36%
• 6M: -3.02%
• 1Y: -4.86%
• 3Y*: 1.55%
• 5Y*: -3.30%
• 10Y*: 4.69%

FPURX

• 1D: 0.87%
• 1M: 3.10%
• YTD: 11.38%
• 6M: 10.96%
• 1Y: 24.49%
• 3Y*: 16.97%
• 5Y*: 9.97%
• 10Y*: 11.75%

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

CUT vs. FPURX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CUT Invesco MSCI Global Timber ETF	-4.36%	-5.92%	1.82%	8.65%	-16.38%	12.29%	18.05%	23.35%	-21.70%	30.41%
FPURX Fidelity Puritan Fund	11.38%	12.22%	18.94%	20.20%	-17.35%	18.92%	20.58%	21.27%	-4.18%	18.28%

Correlation

The correlation between CUT and FPURX is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.43
Correlation (3Y) Calculated over the trailing 3-year period	0.51
Correlation (5Y) Calculated over the trailing 5-year period	0.62
Correlation (10Y) Calculated over the trailing 10-year period	0.65
Correlation (All Time) Calculated using the full available price history since Nov 9, 2007	0.72

Over the past year, the correlation between CUT and FPURX has dropped to 0.43 - well below their long-term average of 0.72, suggesting their price drivers have been diverging.

Return for Risk

CUT vs. FPURX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CUT

CUT Risk / Return Rank: 6
CUT Sharpe Ratio Rank: 6
CUT Sortino Ratio Rank: 6
CUT Omega Ratio Rank: 6
CUT Calmar Ratio Rank: 6
CUT Martin Ratio Rank: 6

FPURX

FPURX Risk / Return Rank: 76
FPURX Sharpe Ratio Rank: 74
FPURX Sortino Ratio Rank: 69
FPURX Omega Ratio Rank: 73
FPURX Calmar Ratio Rank: 78
FPURX Martin Ratio Rank: 85

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CUT vs. FPURX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco MSCI Global Timber ETF (CUT) and Fidelity Puritan Fund (FPURX). 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.

	CUT	FPURX	Difference
Sharpe ratio: Return per unit of total volatility	-0.26	2.31	-2.57
Sortino ratio: Return per unit of downside risk	-0.25	3.14	-3.39
Omega ratio: Gain probability vs. loss probability	0.97	1.43	-0.46
Calmar ratio: Return relative to maximum drawdown	-0.25	3.37	-3.62
Martin ratio: Return relative to average drawdown	-0.51	14.68	-15.19

CUT vs. FPURX - Sharpe Ratio Comparison

The current CUT Sharpe Ratio is -0.26, which is lower than the FPURX Sharpe Ratio of 2.31. The chart below compares the historical Sharpe Ratios of CUT and FPURX, 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

CUT vs. FPURX - Drawdown Comparison

The maximum CUT drawdown since its inception was -70.03%, which is greater than FPURX's maximum drawdown of -31.76%. Use the drawdown chart below to compare losses from any high point for CUT and FPURX.

Drawdown Indicators

	CUT	FPURX	Difference
Max Drawdown Largest peak-to-trough decline	-70.03%	-31.76%	-38.27%
Max Drawdown (1Y) Largest decline over 1 year	-19.62%	-7.24%	-12.38%
Max Drawdown (3Y) Largest decline over 3 years	-22.23%	-16.51%	-5.72%
Max Drawdown (5Y) Largest decline over 5 years	-30.40%	-22.53%	-7.87%
Max Drawdown (10Y) Largest decline over 10 years	-45.76%	-23.93%	-21.83%
Current Drawdown Current decline from peak	-22.00%	-0.31%	-21.69%
Average Drawdown Average peak-to-trough decline	-15.28%	-4.64%	-10.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.50%	1.66%	+7.84%

Volatility

CUT vs. FPURX - Volatility Comparison

Invesco MSCI Global Timber ETF (CUT) has a higher volatility of 4.94% compared to Fidelity Puritan Fund (FPURX) at 4.60%. This indicates that CUT's price experiences larger fluctuations and is considered to be riskier than FPURX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CUT	FPURX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.94%	4.60%	+0.34%
Volatility (6M) Calculated over the trailing 6-month period	14.23%	8.79%	+5.44%
Volatility (1Y) Calculated over the trailing 1-year period	18.86%	10.58%	+8.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.51%	13.40%	+5.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.21%	13.16%	+7.05%

CUT vs. FPURX - Expense Ratio Comparison

CUT has a 0.55% expense ratio, which is higher than FPURX's 0.50% expense ratio.

Dividends

CUT vs. FPURX - Dividend Comparison

CUT's dividend yield for the trailing twelve months is around 2.57%, less than FPURX's 6.13% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CUT Invesco MSCI Global Timber ETF	2.57%	2.46%	3.05%	2.44%	2.58%	1.57%	1.65%	2.67%	3.43%	1.57%	2.08%	1.52%
FPURX Fidelity Puritan Fund	6.13%	6.83%	11.30%	5.34%	9.38%	13.10%	5.10%	4.29%	15.26%	3.78%	3.71%	7.49%

Frequently Asked Questions

Can I hold both CUT and FPURX in my portfolio?

CUT and FPURX have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CUT or FPURX?

CUT has higher volatility (4.94%) compared to FPURX (4.60%). In terms of maximum drawdown, CUT dropped -70.03% vs FPURX's -31.76%.

Which has better risk-adjusted returns?

FPURX currently has the higher Sharpe Ratio (2.31 vs -0.26), 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.