FBLEX vs. PEYAX

Last updated Jun 4, 2026

FBLEX (Fidelity Series Stock Selector Large Cap Value Fund) and PEYAX (Putnam Large Cap Value Fund) are both Large Cap Value Equities funds. Over the past 10 years, FBLEX returned 11.89%/yr vs 13.17%/yr for PEYAX. With a 0.96 correlation, they move nearly in lockstep. FBLEX charges 0.01%/yr vs 0.88%/yr for PEYAX.

Performance

FBLEX vs. PEYAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Series Stock Selector Large Cap Value Fund (FBLEX) and Putnam Large Cap Value Fund (PEYAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FBLEX achieves a 8.36% return, which is significantly lower than PEYAX's 9.88% return. Over the past 10 years, FBLEX has underperformed PEYAX with an annualized return of 11.89%, while PEYAX has yielded a comparatively higher 13.17% annualized return.

FBLEX

• 1D: 0.33%
• 1M: 2.07%
• YTD: 8.36%
• 6M: 9.82%
• 1Y: 22.33%
• 3Y*: 19.15%
• 5Y*: 11.55%
• 10Y*: 11.89%

PEYAX

• 1D: 1.22%
• 1M: 3.96%
• YTD: 9.88%
• 6M: 11.85%
• 1Y: 27.05%
• 3Y*: 20.71%
• 5Y*: 11.97%
• 10Y*: 13.17%

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

FBLEX vs. PEYAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FBLEX Fidelity Series Stock Selector Large Cap Value Fund	8.36%	17.06%	18.04%	15.60%	-4.82%	26.83%	4.34%	25.57%	-9.04%	12.38%
PEYAX Putnam Large Cap Value Fund	9.88%	20.09%	18.99%	15.09%	-8.37%	26.84%	5.87%	29.94%	-8.63%	18.79%

Correlation

The correlation between FBLEX and PEYAX is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.96
Correlation (All Time) Calculated using the full available price history since Dec 11, 2012	0.96

The correlation between FBLEX and PEYAX has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.

Return for Risk

FBLEX vs. PEYAX — Risk / Return Rank

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

FBLEX

FBLEX Risk / Return Rank: 62
FBLEX Sharpe Ratio Rank: 56
FBLEX Sortino Ratio Rank: 56
FBLEX Omega Ratio Rank: 52
FBLEX Calmar Ratio Rank: 73
FBLEX Martin Ratio Rank: 71

PEYAX

PEYAX Risk / Return Rank: 80
PEYAX Sharpe Ratio Rank: 83
PEYAX Sortino Ratio Rank: 80
PEYAX Omega Ratio Rank: 73
PEYAX Calmar Ratio Rank: 83
PEYAX Martin Ratio Rank: 80

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.

FBLEX vs. PEYAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Series Stock Selector Large Cap Value Fund (FBLEX) and Putnam Large Cap Value Fund (PEYAX). 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.

	FBLEX	PEYAX	Difference
Sharpe ratio: Return per unit of total volatility	2.20	2.66	-0.46
Sortino ratio: Return per unit of downside risk	3.16	3.77	-0.61
Omega ratio: Gain probability vs. loss probability	1.40	1.48	-0.09
Calmar ratio: Return relative to maximum drawdown	3.35	3.85	-0.50
Martin ratio: Return relative to average drawdown	13.56	15.02	-1.46
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FBLEX vs. PEYAX - Sharpe Ratio Comparison

The current FBLEX Sharpe Ratio is 2.20, which is comparable to the PEYAX Sharpe Ratio of 2.66. The chart below compares the historical Sharpe Ratios of FBLEX and PEYAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FBLEX	PEYAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.20	2.66	-0.46
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.78	0.82	-0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.69	0.77	-0.09
Sharpe Ratio (All Time) Calculated using the full available price history	0.73	0.38	+0.35

Drawdowns

FBLEX vs. PEYAX - Drawdown Comparison

The maximum FBLEX drawdown since its inception was -39.73%, smaller than the maximum PEYAX drawdown of -56.92%. Use the drawdown chart below to compare losses from any high point for FBLEX and PEYAX.

Drawdown Indicators

	FBLEX	PEYAX	Difference
Max Drawdown Largest peak-to-trough decline	-39.73%	-56.92%	+17.19%
Max Drawdown (1Y) Largest decline over 1 year	-6.89%	-7.23%	+0.34%
Max Drawdown (3Y) Largest decline over 3 years	-14.71%	-15.12%	+0.41%
Max Drawdown (5Y) Largest decline over 5 years	-19.00%	-15.31%	-3.69%
Max Drawdown (10Y) Largest decline over 10 years	-39.73%	-36.06%	-3.67%
Current Drawdown Current decline from peak	-0.20%	0.00%	-0.20%
Average Drawdown Average peak-to-trough decline	-3.83%	-14.06%	+10.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.70%	1.85%	-0.15%

Volatility

FBLEX vs. PEYAX - Volatility Comparison

Fidelity Series Stock Selector Large Cap Value Fund (FBLEX) and Putnam Large Cap Value Fund (PEYAX) have volatilities of 2.69% and 2.58%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FBLEX	PEYAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.69%	2.58%	+0.11%
Volatility (6M) Calculated over the trailing 6-month period	7.89%	8.01%	-0.12%
Volatility (1Y) Calculated over the trailing 1-year period	10.50%	10.47%	+0.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.79%	14.68%	+0.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.40%	17.06%	+0.34%

FBLEX vs. PEYAX - Expense Ratio Comparison

FBLEX has a 0.01% expense ratio, which is lower than PEYAX's 0.88% expense ratio.

Dividends

FBLEX vs. PEYAX - Dividend Comparison

FBLEX's dividend yield for the trailing twelve months is around 10.25%, more than PEYAX's 4.81% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FBLEX Fidelity Series Stock Selector Large Cap Value Fund	10.25%	9.95%	12.63%	5.05%	12.66%	14.51%	3.85%	5.65%	10.97%	7.09%	2.47%	13.81%
PEYAX Putnam Large Cap Value Fund	4.81%	5.36%	6.80%	4.93%	1.21%	7.09%	5.97%	3.79%	5.67%	3.31%	2.27%	5.86%

Frequently Asked Questions

Can I hold both FBLEX and PEYAX in my portfolio?

With a correlation of 0.94, FBLEX and PEYAX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, FBLEX or PEYAX?

FBLEX has higher volatility (2.69%) compared to PEYAX (2.58%). In terms of maximum drawdown, FBLEX dropped -39.73% vs PEYAX's -56.92%.

Which has better risk-adjusted returns?

PEYAX currently has the higher Sharpe Ratio (2.66 vs 2.20), 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.