EFAS vs. PNGAX

Last updated Aug 2, 2026

EFAS (Global X MSCI SuperDividend® EAFE ETF) and PNGAX (Putnam International Value Fund) are both funds - EFAS is a Dividend fund tracking the MSCI EAFE Top 50 Dividend Index, while PNGAX is a Foreign Large Cap Equities fund managed by Putnam. Over the past 5 years, EFAS returned 14.43%/yr vs 12.93%/yr for PNGAX. Their 0.77 correlation means they have sometimes moved together and sometimes differently. EFAS charges 0.55%/yr vs 1.27%/yr for PNGAX.

Performance

EFAS vs. PNGAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X MSCI SuperDividend® EAFE ETF (EFAS) and Putnam International Value Fund (PNGAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EFAS achieves a 20.56% return, which is significantly higher than PNGAX's 14.72% return.

EFAS

• 1D: -0.90%
• 1M: 6.31%
• 6M: 14.73%
• YTD: 20.56%
• 1Y: 32.01%
• 3Y*: 25.41%
• 5Y*: 14.43%
• 10Y*: —
• ALL TIME*: 10.80%

PNGAX

• 1D: 2.17%
• 1M: 3.99%
• 6M: 8.73%
• YTD: 14.72%
• 1Y: 27.21%
• 3Y*: 18.54%
• 5Y*: 12.93%
• 10Y*: 10.44%
• ALL TIME*: 6.78%

*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)
EFAS Global X MSCI SuperDividend® EAFE ETF	$411.25K	$354.75K	$345.09K
PNGAX Putnam International Value Fund	$0.00	$0.00	$0.00

EFAS vs. PNGAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EFAS Global X MSCI SuperDividend® EAFE ETF	20.56%	46.83%	3.07%	14.65%	-8.00%	12.75%	-5.42%	14.60%	-11.60%	22.76%
PNGAX Putnam International Value Fund	14.72%	34.66%	5.86%	18.50%	-6.85%	14.24%	4.19%	19.96%	-18.02%	24.09%

Correlation

The correlation between EFAS and PNGAX is 0.70, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.70
Correlation (3Y) Balances recent behavior with more history.	0.74
Correlation (5Y) Shows whether the relationship held over a longer period.	0.79
Correlation (All Time) Calculated using the full available price history since Nov 16, 2016	0.77

The correlation between EFAS and PNGAX has been stable across timeframes, ranging from 0.70 to 0.79 - a consistent structural relationship.

Return for Risk

EFAS vs. PNGAX — Risk / Return Rank

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

EFAS

EFAS Risk / Return Rank: 94
EFAS Sharpe Ratio Rank: 96
EFAS Sortino Ratio Rank: 95
EFAS Omega Ratio Rank: 94
EFAS Calmar Ratio Rank: 96
EFAS Martin Ratio Rank: 91

PNGAX

PNGAX Risk / Return Rank: 75
PNGAX Sharpe Ratio Rank: 76
PNGAX Sortino Ratio Rank: 75
PNGAX Omega Ratio Rank: 74
PNGAX Calmar Ratio Rank: 75
PNGAX Martin Ratio Rank: 75

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.

EFAS vs. PNGAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X MSCI SuperDividend® EAFE ETF (EFAS) and Putnam International Value Fund (PNGAX). 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.

	EFAS	PNGAX	Difference
Sharpe ratio: Return per unit of total volatility	2.94	1.81	+1.14
Sortino ratio: Return per unit of downside risk	4.11	2.57	+1.54
Omega ratio: Gain probability vs. loss probability	1.52	1.33	+0.19
Calmar ratio: Return relative to maximum drawdown	6.07	2.47	+3.60
Martin ratio: Return relative to average drawdown	14.92	9.25	+5.67

EFAS vs. PNGAX - Sharpe Ratio Comparison

The current EFAS Sharpe Ratio is 2.94, which is higher than the PNGAX Sharpe Ratio of 1.81. The chart below compares the historical Sharpe Ratios of EFAS and PNGAX, 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

EFAS vs. PNGAX - Drawdown Comparison

The maximum EFAS drawdown since its inception was -44.38%, smaller than the maximum PNGAX drawdown of -64.78%. Use the drawdown chart below to compare losses from any high point for EFAS and PNGAX.

Drawdown Indicators

	EFAS	PNGAX	Difference
Max Drawdown Largest peak-to-trough decline	-44.38%	-64.78%	+20.40%
Max Drawdown (1Y) Largest decline over 1 year	-5.30%	-10.51%	+5.21%
Max Drawdown (3Y) Largest decline over 3 years	-11.84%	-13.87%	+2.03%
Max Drawdown (5Y) Largest decline over 5 years	-28.81%	-27.37%	-1.44%
Max Drawdown (10Y) Largest decline over 10 years	—	-41.58%	—
Current Drawdown Current decline from peak	-0.90%	0.00%	-0.90%
Average Drawdown Average peak-to-trough decline	-6.99%	-15.73%	+8.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.15%	2.81%	-0.66%

Volatility

EFAS vs. PNGAX - Volatility Comparison

The current volatility for Global X MSCI SuperDividend® EAFE ETF (EFAS) is 2.71%, while Putnam International Value Fund (PNGAX) has a volatility of 3.90%. This indicates that EFAS experiences smaller price fluctuations and is considered to be less risky than PNGAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EFAS	PNGAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.71%	3.90%	-1.19%
Volatility (6M) Calculated over the trailing 6-month period	8.68%	12.02%	-3.34%
Volatility (1Y) Calculated over the trailing 1-year period	10.95%	14.43%	-3.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.51%	15.75%	-0.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.23%	16.68%	+1.55%

EFAS vs. PNGAX - Expense Ratio Comparison

EFAS has a 0.55% expense ratio, which is lower than PNGAX's 1.27% expense ratio.

Dividends

EFAS vs. PNGAX - Dividend Comparison

EFAS's dividend yield for the trailing twelve months is around 4.52%, more than PNGAX's 2.59% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EFAS Global X MSCI SuperDividend® EAFE ETF	4.52%	4.83%	6.76%	6.33%	7.28%	5.19%	4.34%	5.75%	6.63%	6.15%	0.21%	0.00%
PNGAX Putnam International Value Fund	2.59%	2.97%	3.89%	2.35%	1.63%	5.70%	1.84%	3.91%	4.34%	1.11%	2.23%	1.09%

Frequently Asked Questions

Can I hold both EFAS and PNGAX in my portfolio?

EFAS and PNGAX have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EFAS or PNGAX?

PNGAX has higher volatility (3.90%) compared to EFAS (2.71%). In terms of maximum drawdown, EFAS dropped -44.38% vs PNGAX's -64.78%.

Which has better risk-adjusted returns?

EFAS currently has the higher Sharpe Ratio (2.94 vs 1.81), 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.