PAFMX vs. VTIVX
Compare and contrast key facts about Putnam Retirement Advantage 2045 Fund (PAFMX) and Vanguard Target Retirement 2045 Fund (VTIVX).
PAFMX is managed by Putnam. It was launched on Dec 30, 2019. VTIVX is managed by Vanguard. It was launched on Oct 27, 2003.
Performance
PAFMX vs. VTIVX - Performance Comparison
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PAFMX vs. VTIVX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
PAFMX Putnam Retirement Advantage 2045 Fund | -3.63% | 18.27% | 15.76% | 25.02% | -16.53% | 17.61% | 14.31% |
VTIVX Vanguard Target Retirement 2045 Fund | -3.63% | 20.01% | 13.68% | 19.72% | -17.38% | 16.16% | 15.37% |
Returns By Period
As of year-to-date, both investments have demonstrated similar returns, with PAFMX at -3.63% and VTIVX at -3.63%.
PAFMX
- 1D
- -0.17%
- 1M
- -6.55%
- YTD
- -3.63%
- 6M
- -0.97%
- 1Y
- 15.49%
- 3Y*
- 15.87%
- 5Y*
- 9.09%
- 10Y*
- —
VTIVX
- 1D
- -0.24%
- 1M
- -7.90%
- YTD
- -3.63%
- 6M
- -0.85%
- 1Y
- 16.12%
- 3Y*
- 13.91%
- 5Y*
- 7.66%
- 10Y*
- 10.04%
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PAFMX vs. VTIVX - Expense Ratio Comparison
PAFMX has a 0.45% expense ratio, which is higher than VTIVX's 0.08% expense ratio.
Return for Risk
PAFMX vs. VTIVX — Risk / Return Rank
PAFMX
VTIVX
PAFMX vs. VTIVX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Putnam Retirement Advantage 2045 Fund (PAFMX) and Vanguard Target Retirement 2045 Fund (VTIVX). 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.
| PAFMX | VTIVX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.15 | 1.20 | -0.04 |
Sortino ratioReturn per unit of downside risk | 1.68 | 1.72 | -0.04 |
Omega ratioGain probability vs. loss probability | 1.25 | 1.25 | 0.00 |
Calmar ratioReturn relative to maximum drawdown | 1.44 | 1.50 | -0.06 |
Martin ratioReturn relative to average drawdown | 7.12 | 6.90 | +0.22 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| PAFMX | VTIVX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.15 | 1.20 | -0.04 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.69 | 0.57 | +0.12 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.68 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.66 | 0.51 | +0.14 |
Correlation
The correlation between PAFMX and VTIVX is 0.97, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
PAFMX vs. VTIVX - Dividend Comparison
PAFMX's dividend yield for the trailing twelve months is around 12.26%, more than VTIVX's 2.59% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PAFMX Putnam Retirement Advantage 2045 Fund | 12.26% | 11.82% | 5.67% | 2.72% | 12.24% | 15.59% | 1.22% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
VTIVX Vanguard Target Retirement 2045 Fund | 2.59% | 2.50% | 2.36% | 2.27% | 2.75% | 15.40% | 1.90% | 2.23% | 2.52% | 0.04% | 2.47% | 3.29% |
Drawdowns
PAFMX vs. VTIVX - Drawdown Comparison
The maximum PAFMX drawdown since its inception was -29.22%, smaller than the maximum VTIVX drawdown of -51.69%. Use the drawdown chart below to compare losses from any high point for PAFMX and VTIVX.
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Drawdown Indicators
| PAFMX | VTIVX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.22% | -51.69% | +22.47% |
Max Drawdown (1Y)Largest decline over 1 year | -9.82% | -9.73% | -0.09% |
Max Drawdown (5Y)Largest decline over 5 years | -22.63% | -25.10% | +2.47% |
Max Drawdown (10Y)Largest decline over 10 years | — | -31.42% | — |
Current DrawdownCurrent decline from peak | -7.22% | -8.30% | +1.08% |
Average DrawdownAverage peak-to-trough decline | -5.24% | -6.37% | +1.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.99% | 2.12% | -0.13% |
Volatility
PAFMX vs. VTIVX - Volatility Comparison
The current volatility for Putnam Retirement Advantage 2045 Fund (PAFMX) is 3.91%, while Vanguard Target Retirement 2045 Fund (VTIVX) has a volatility of 4.36%. This indicates that PAFMX experiences smaller price fluctuations and is considered to be less risky than VTIVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PAFMX | VTIVX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.91% | 4.36% | -0.45% |
Volatility (6M)Calculated over the trailing 6-month period | 7.46% | 7.85% | -0.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.68% | 13.55% | +0.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.22% | 13.41% | -0.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.86% | 14.75% | +1.11% |