PAEAX vs. PEYAX
PAEAX (Putnam Dynamic Asset Allocation Growth Fund) and PEYAX (Putnam Large Cap Value Fund) are both mutual funds - PAEAX is a Diversified Portfolio fund managed by Putnam, while PEYAX is a Large Cap Value Equities fund managed by Putnam. Over the past 10 years, PAEAX returned 11.52%/yr vs 13.64%/yr for PEYAX. Their correlation of 0.87 suggests significant overlap in exposure. PAEAX charges 1.03%/yr vs 0.88%/yr for PEYAX.
Performance
PAEAX vs. PEYAX - Performance Comparison
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Returns By Period
In the year-to-date period, PAEAX achieves a 9.89% return, which is significantly lower than PEYAX's 11.15% return. Over the past 10 years, PAEAX has underperformed PEYAX with an annualized return of 11.52%, while PEYAX has yielded a comparatively higher 13.64% annualized return.
PAEAX
- 1D
- -0.08%
- 1M
- 1.41%
- YTD
- 9.89%
- 6M
- 9.13%
- 1Y
- 23.68%
- 3Y*
- 19.26%
- 5Y*
- 10.24%
- 10Y*
- 11.52%
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%
PAEAX vs. PEYAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PAEAX Putnam Dynamic Asset Allocation Growth Fund | 9.89% | 18.45% | 18.71% | 20.78% | -16.99% | 16.63% | 14.41% | 20.79% | -9.73% | 19.92% |
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 PAEAX and PEYAX is 0.80, 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 | 0.80 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.77 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.83 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.86 |
Correlation (All Time) Calculated using the full available price history since Feb 7, 1994 | 0.87 |
The correlation between PAEAX and PEYAX shifts across timeframes, from 0.77 (3 years) to 0.87 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PAEAX vs. PEYAX — Risk / Return Rank
PAEAX
PEYAX
PAEAX vs. PEYAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Putnam Dynamic Asset Allocation Growth Fund (PAEAX) 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.
| PAEAX | PEYAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.32 | ||
| Sortino ratioReturn per unit of downside risk | -0.51 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.47 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 3.25 | 3.89 | -0.63 |
| Martin ratioReturn relative to average drawdown | 14.38 | 15.06 | -0.68 |
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Drawdowns
PAEAX vs. PEYAX - Drawdown Comparison
The maximum PAEAX drawdown since its inception was -53.25%, smaller than the maximum PEYAX drawdown of -56.92%. Use the drawdown chart below to compare losses from any high point for PAEAX and PEYAX.
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Drawdown Indicators
| PAEAX | PEYAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.25% | -56.92% | +3.67% |
Max Drawdown (1Y)Largest decline over 1 year | -7.59% | -7.23% | -0.36% |
Max Drawdown (3Y)Largest decline over 3 years | -21.31% | -15.12% | -6.19% |
Max Drawdown (5Y)Largest decline over 5 years | -23.30% | -15.31% | -7.99% |
Max Drawdown (10Y)Largest decline over 10 years | -28.57% | -36.06% | +7.49% |
Current DrawdownCurrent decline from peak | -0.46% | -0.62% | +0.16% |
Average DrawdownAverage peak-to-trough decline | -7.65% | -14.04% | +6.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.71% | 1.86% | -0.15% |
Volatility
PAEAX vs. PEYAX - Volatility Comparison
Putnam Dynamic Asset Allocation Growth Fund (PAEAX) has a higher volatility of 4.36% compared to Putnam Large Cap Value Fund (PEYAX) at 3.88%. This indicates that PAEAX's price experiences larger fluctuations and is considered to be riskier 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
| PAEAX | PEYAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.36% | 3.88% | +0.48% |
Volatility (6M)Calculated over the trailing 6-month period | 8.94% | 8.47% | +0.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.98% | 10.94% | +0.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.48% | 14.72% | +0.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.03% | 17.09% | -2.06% |
PAEAX vs. PEYAX - Expense Ratio Comparison
PAEAX has a 1.03% expense ratio, which is higher than PEYAX's 0.88% expense ratio.
Dividends
PAEAX vs. PEYAX - Dividend Comparison
PAEAX's dividend yield for the trailing twelve months is around 6.21%, more than PEYAX's 4.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PAEAX Putnam Dynamic Asset Allocation Growth Fund | 6.21% | 6.83% | 11.00% | 4.18% | 1.73% | 14.90% | 0.47% | 1.56% | 10.41% | 10.22% | 1.58% | 6.53% |
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
PAEAX and PEYAX have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PAEAX has higher volatility (4.36%) compared to PEYAX (3.88%). In terms of maximum drawdown, PAEAX dropped -53.25% vs PEYAX's -56.92%.
PEYAX currently has the higher Sharpe Ratio (2.58 vs 2.25), 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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