HOVLX vs. PEYAX
HOVLX (Homestead Funds Value Fund) and PEYAX (Putnam Large Cap Value Fund) are both Large Cap Value Equities funds. Over the past 10 years, HOVLX returned 12.78%/yr vs 13.64%/yr for PEYAX. Their correlation of 0.92 suggests significant overlap in exposure. HOVLX charges 0.63%/yr vs 0.88%/yr for PEYAX.
Performance
HOVLX vs. PEYAX - Performance Comparison
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Returns By Period
In the year-to-date period, HOVLX achieves a 10.21% return, which is significantly lower than PEYAX's 11.15% return. Over the past 10 years, HOVLX has underperformed PEYAX with an annualized return of 12.78%, while PEYAX has yielded a comparatively higher 13.64% annualized return.
HOVLX
- 1D
- 0.62%
- 1M
- 2.38%
- YTD
- 10.21%
- 6M
- 9.38%
- 1Y
- 21.66%
- 3Y*
- 16.92%
- 5Y*
- 10.52%
- 10Y*
- 12.78%
PEYAX
- 1D
- 0.23%
- 1M
- 2.83%
- YTD
- 11.15%
- 6M
- 10.34%
- 1Y
- 26.97%
- 3Y*
- 20.50%
- 5Y*
- 12.71%
- 10Y*
- 13.64%
HOVLX vs. PEYAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HOVLX Homestead Funds Value Fund | 10.21% | 14.60% | 14.29% | 12.03% | -5.67% | 25.09% | 7.74% | 27.72% | -6.52% | 22.22% |
PEYAX Putnam Large Cap Value Fund | 11.15% | 20.09% | 18.99% | 15.09% | -8.37% | 26.84% | 5.87% | 29.94% | -8.63% | 18.79% |
Correlation
The correlation between HOVLX and PEYAX is 0.93, 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 | 0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.93 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.95 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.95 |
Correlation (All Time) Calculated using the full available price history since Nov 19, 1990 | 0.92 |
The correlation between HOVLX and PEYAX has been stable across timeframes, ranging from 0.92 to 0.95 - a consistent structural relationship.
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Return for Risk
HOVLX vs. PEYAX — Risk / Return Rank
HOVLX
PEYAX
HOVLX vs. PEYAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Homestead Funds Value Fund (HOVLX) 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.
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.
| HOVLX | PEYAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.58 | ||
| Sortino ratioReturn per unit of downside risk | -0.73 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.47 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 2.77 | 3.89 | -1.12 |
| Martin ratioReturn relative to average drawdown | 11.08 | 15.06 | -3.98 |
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Drawdowns
HOVLX vs. PEYAX - Drawdown Comparison
The maximum HOVLX drawdown since its inception was -57.90%, roughly equal to the maximum PEYAX drawdown of -56.92%. Use the drawdown chart below to compare losses from any high point for HOVLX and PEYAX.
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Drawdown Indicators
| HOVLX | PEYAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.90% | -56.92% | -0.98% |
Max Drawdown (1Y)Largest decline over 1 year | -8.24% | -7.23% | -1.01% |
Max Drawdown (3Y)Largest decline over 3 years | -15.81% | -15.12% | -0.69% |
Max Drawdown (5Y)Largest decline over 5 years | -19.32% | -15.31% | -4.01% |
Max Drawdown (10Y)Largest decline over 10 years | -38.08% | -36.06% | -2.02% |
Current DrawdownCurrent decline from peak | -0.26% | -0.62% | +0.36% |
Average DrawdownAverage peak-to-trough decline | -6.81% | -14.04% | +7.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.05% | 1.86% | +0.19% |
Volatility
HOVLX vs. PEYAX - Volatility Comparison
The current volatility for Homestead Funds Value Fund (HOVLX) is 3.60%, while Putnam Large Cap Value Fund (PEYAX) has a volatility of 3.88%. This indicates that HOVLX experiences smaller price fluctuations and is considered to be less risky than PEYAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HOVLX | PEYAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.60% | 3.88% | -0.28% |
Volatility (6M)Calculated over the trailing 6-month period | 8.80% | 8.47% | +0.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.43% | 10.94% | +0.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.13% | 14.72% | +0.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.92% | 17.09% | +0.83% |
HOVLX vs. PEYAX - Expense Ratio Comparison
HOVLX has a 0.63% expense ratio, which is lower than PEYAX's 0.88% expense ratio.
Dividends
HOVLX vs. PEYAX - Dividend Comparison
HOVLX's dividend yield for the trailing twelve months is around 9.63%, more than PEYAX's 4.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HOVLX Homestead Funds Value Fund | 9.63% | 10.62% | 9.71% | 5.75% | 10.54% | 8.65% | 16.55% | 15.30% | 11.01% | 5.34% | 10.00% | 7.22% |
PEYAX Putnam Large Cap Value Fund | 4.75% | 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
With a correlation of 0.93, HOVLX 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.
PEYAX has higher volatility (3.88%) compared to HOVLX (3.60%). In terms of maximum drawdown, HOVLX dropped -57.90% vs PEYAX's -56.92%.
PEYAX currently has the higher Sharpe Ratio (2.58 vs 2.00), 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.
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