GPSCX vs. PNSAX

Last updated Jun 4, 2026

GPSCX (Victory RS Small Cap Equity Fund) and PNSAX (Putnam Small Cap Growth Fund) are both Small Cap Growth Equities funds. Their correlation of 0.90 suggests significant overlap in exposure. GPSCX charges 1.25%/yr vs 1.23%/yr for PNSAX.

Performance

GPSCX vs. PNSAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Victory RS Small Cap Equity Fund (GPSCX) and Putnam Small Cap Growth Fund (PNSAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

GPSCX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

PNSAX

• 1D: 1.83%
• 1M: 3.40%
• YTD: 19.33%
• 6M: 17.46%
• 1Y: 30.89%
• 3Y*: 21.22%
• 5Y*: 9.93%
• 10Y*: 15.74%

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

GPSCX vs. PNSAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GPSCX Victory RS Small Cap Equity Fund	0.00%	-13.27%	24.26%	7.27%	-37.24%	-7.96%	37.80%	38.52%	-8.92%	37.59%
PNSAX Putnam Small Cap Growth Fund	19.33%	8.91%	22.98%	22.87%	-28.10%	14.38%	47.65%	37.60%	-2.46%	20.19%

Correlation

The correlation between GPSCX and PNSAX is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (3Y) Calculated over the trailing 3-year period	0.68
Correlation (5Y) Calculated over the trailing 5-year period	0.79
Correlation (10Y) Calculated over the trailing 10-year period	0.85
Correlation (All Time) Calculated using the full available price history since Jan 5, 1998	0.90

The correlation between GPSCX and PNSAX shifts across timeframes, from 0.68 (3 years) to 0.90 (all time), reflecting how their relationship changes across market environments.

Return for Risk

GPSCX vs. PNSAX — Risk / Return Rank

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

PNSAX

PNSAX Risk / Return Rank: 30
PNSAX Sharpe Ratio Rank: 25
PNSAX Sortino Ratio Rank: 24
PNSAX Omega Ratio Rank: 25
PNSAX Calmar Ratio Rank: 38
PNSAX Martin Ratio Rank: 37

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.

GPSCX vs. PNSAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Victory RS Small Cap Equity Fund (GPSCX) and Putnam Small Cap Growth Fund (PNSAX). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	GPSCX	PNSAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.44	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.43	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.67	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.44	—

Drawdowns

Drawdown Indicators

	GPSCX	PNSAX	Difference
Max Drawdown Largest peak-to-trough decline	—	-69.47%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-14.00%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-26.25%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-38.77%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-38.77%	—
Current Drawdown Current decline from peak	—	-1.44%	—
Average Drawdown Average peak-to-trough decline	—	-23.55%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.99%	—

Volatility

Volatility by Period

	GPSCX	PNSAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	8.08%	—
Volatility (6M) Calculated over the trailing 6-month period	—	18.35%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	22.60%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	23.23%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	23.59%	—

GPSCX vs. PNSAX - Expense Ratio Comparison

GPSCX has a 1.25% expense ratio, which is higher than PNSAX's 1.23% expense ratio.

Dividends

GPSCX vs. PNSAX - Dividend Comparison

GPSCX has not paid dividends to shareholders, while PNSAX's dividend yield for the trailing twelve months is around 0.36%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GPSCX Victory RS Small Cap Equity Fund	0.00%	0.48%	0.00%	0.00%	11.02%	24.10%	22.25%	11.69%	33.03%	5.00%	0.00%	40.41%
PNSAX Putnam Small Cap Growth Fund	0.36%	0.42%	0.00%	0.00%	0.00%	15.27%	4.87%	1.93%	1.88%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both GPSCX and PNSAX in my portfolio?

With a correlation of 0.90, GPSCX and PNSAX 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.