FPAS vs. PFUT

Last updated Jun 3, 2026

FPAS (FPA Short Duration Government ETF) and PFUT (Putnam Sustainable Future ETF) are both exchange-traded funds - FPAS is a Government Bonds fund actively managed by FPA, while PFUT is a Sustainable fund actively managed by Power Corporation of Canada. Both are actively managed. Over the past year, FPAS returned 3.02% vs 8.33% for PFUT. At a 0.07 correlation, their price movements are largely independent. FPAS charges 0.09%/yr vs 0.64%/yr for PFUT.

Performance

FPAS vs. PFUT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FPA Short Duration Government ETF (FPAS) and Putnam Sustainable Future ETF (PFUT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FPAS achieves a -0.61% return, which is significantly lower than PFUT's 5.04% return.

FPAS

• 1D: 0.11%
• 1M: -0.33%
• YTD: -0.61%
• 6M: -0.44%
• 1Y: 3.02%
• 3Y*: —
• 5Y*: —
• 10Y*: —

PFUT

• 1D: 0.61%
• 1M: 4.50%
• YTD: 5.04%
• 6M: 2.60%
• 1Y: 8.33%
• 3Y*: 12.50%
• 5Y*: 1.34%
• 10Y*: —

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

FPAS vs. PFUT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FPAS FPA Short Duration Government ETF	-0.61%	7.15%	-0.03%
PFUT Putnam Sustainable Future ETF	5.04%	2.22%	-0.63%

Correlation

The correlation between FPAS and PFUT is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.21
Correlation (All Time) Calculated using the full available price history since Nov 4, 2024	0.07

The correlation between FPAS and PFUT shifts across timeframes, from 0.07 (all time) to 0.21 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

FPAS vs. PFUT — Risk / Return Rank

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

FPAS

FPAS Risk / Return Rank: 25
FPAS Sharpe Ratio Rank: 26
FPAS Sortino Ratio Rank: 25
FPAS Omega Ratio Rank: 24
FPAS Calmar Ratio Rank: 24
FPAS Martin Ratio Rank: 26

PFUT

PFUT Risk / Return Rank: 16
PFUT Sharpe Ratio Rank: 17
PFUT Sortino Ratio Rank: 17
PFUT Omega Ratio Rank: 16
PFUT Calmar Ratio Rank: 16
PFUT Martin Ratio Rank: 16

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.

FPAS vs. PFUT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FPA Short Duration Government ETF (FPAS) and Putnam Sustainable Future ETF (PFUT). 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.

	FPAS	PFUT	Difference
Sharpe ratio Return per unit of total volatility	0.93	0.52	+0.42
Sortino ratio Return per unit of downside risk	1.40	0.84	+0.55
Omega ratio Gain probability vs. loss probability	1.16	1.10	+0.07
Calmar ratio Return relative to maximum drawdown	1.18	0.58	+0.60
Martin ratio Return relative to average drawdown	3.60	1.68	+1.92
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FPAS vs. PFUT - Sharpe Ratio Comparison

The current FPAS Sharpe Ratio is 0.93, which is higher than the PFUT Sharpe Ratio of 0.52. The chart below compares the historical Sharpe Ratios of FPAS and PFUT, 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

	FPAS	PFUT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.93	0.52	+0.42
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.06	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.00	0.05	+0.95

Drawdowns

FPAS vs. PFUT - Drawdown Comparison

The maximum FPAS drawdown since its inception was -2.47%, smaller than the maximum PFUT drawdown of -44.86%. Use the drawdown chart below to compare losses from any high point for FPAS and PFUT.

Drawdown Indicators

	FPAS	PFUT	Difference
Max Drawdown Largest peak-to-trough decline	-2.47%	-44.86%	+42.39%
Max Drawdown (1Y) Largest decline over 1 year	-2.47%	-14.88%	+12.41%
Max Drawdown (3Y) Largest decline over 3 years	—	-27.57%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-44.86%	—
Current Drawdown Current decline from peak	-1.71%	-7.45%	+5.74%
Average Drawdown Average peak-to-trough decline	-0.67%	-21.13%	+20.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.81%	5.14%	-4.33%

Volatility

FPAS vs. PFUT - Volatility Comparison

The current volatility for FPA Short Duration Government ETF (FPAS) is 1.12%, while Putnam Sustainable Future ETF (PFUT) has a volatility of 4.03%. This indicates that FPAS experiences smaller price fluctuations and is considered to be less risky than PFUT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FPAS	PFUT	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.12%	4.03%	-2.91%
Volatility (6M) Calculated over the trailing 6-month period	2.25%	12.58%	-10.33%
Volatility (1Y) Calculated over the trailing 1-year period	3.25%	16.16%	-12.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.10%	21.75%	-17.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.10%	21.72%	-17.62%

FPAS vs. PFUT - Expense Ratio Comparison

FPAS has a 0.09% expense ratio, which is lower than PFUT's 0.64% expense ratio.

Dividends

FPAS vs. PFUT - Dividend Comparison

FPAS's dividend yield for the trailing twelve months is around 4.77%, while PFUT has not paid dividends to shareholders.

Position	TTM	2025	2024
FPAS FPA Short Duration Government ETF	4.77%	4.75%	0.68%
PFUT Putnam Sustainable Future ETF	0.00%	0.00%	0.03%

Frequently Asked Questions

Can I hold both FPAS and PFUT in my portfolio?

FPAS and PFUT have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FPAS or PFUT?

PFUT has higher volatility (4.03%) compared to FPAS (1.12%). In terms of maximum drawdown, FPAS dropped -2.47% vs PFUT's -44.86%.

Which ETF is better, FPAS or PFUT?

On 1-year performance, PFUT leads with 8.33% vs 3.02% for FPAS. On fees, FPAS is cheaper at 0.09% per year. On volatility, FPAS has been the lower-risk option at 1.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FPAS or PFUT?

Over the 1-year period, PFUT has performed better with a 8.33% return vs 3.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FPAS or PFUT?

FPAS is cheaper with a 0.09% expense ratio, compared with 0.64% for PFUT.

Which ETF pays a higher dividend yield, FPAS or PFUT?

FPAS has the higher dividend yield at 4.77%, compared with 0.00% for PFUT.

What is the main difference between FPAS and PFUT?

FPAS is categorized as Government Bonds, while PFUT is Sustainable. They also come from different issuers: FPA and Power Corporation of Canada. Their fees differ too: 0.09% for FPAS and 0.64% for PFUT.

Which has better risk-adjusted returns?

FPAS currently has the higher Sharpe Ratio (0.93 vs 0.52), 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.