PARYX vs. TNSHX
Compare and contrast key facts about Putnam Short Duration Bond Fund (PARYX) and TIAA-CREF Short-Term Bond Index Fund (TNSHX).
PARYX is managed by Putnam. It was launched on Dec 23, 2008. TNSHX is managed by TIAA Investments. It was launched on Aug 7, 2015.
Performance
PARYX vs. TNSHX - Performance Comparison
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PARYX vs. TNSHX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PARYX Putnam Short Duration Bond Fund | -0.06% | 5.96% | 5.19% | 5.62% | -4.53% | 0.52% | 3.37% | 4.90% | 2.23% | 3.48% |
TNSHX TIAA-CREF Short-Term Bond Index Fund | -0.07% | 5.31% | 4.03% | 4.05% | -3.96% | -0.57% | 3.26% | 4.05% | 1.31% | 0.70% |
Returns By Period
In the year-to-date period, PARYX achieves a -0.06% return, which is significantly higher than TNSHX's -0.07% return. Over the past 10 years, PARYX has outperformed TNSHX with an annualized return of 2.95%, while TNSHX has yielded a comparatively lower 1.78% annualized return.
PARYX
- 1D
- 0.10%
- 1M
- -0.60%
- YTD
- -0.06%
- 6M
- 1.09%
- 1Y
- 4.08%
- 3Y*
- 4.95%
- 5Y*
- 2.39%
- 10Y*
- 2.95%
TNSHX
- 1D
- 0.00%
- 1M
- -0.62%
- YTD
- -0.07%
- 6M
- 0.96%
- 1Y
- 3.56%
- 3Y*
- 3.89%
- 5Y*
- 1.72%
- 10Y*
- 1.78%
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PARYX vs. TNSHX - Expense Ratio Comparison
PARYX has a 0.37% expense ratio, which is higher than TNSHX's 0.09% expense ratio.
Return for Risk
PARYX vs. TNSHX — Risk / Return Rank
PARYX
TNSHX
PARYX vs. TNSHX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Putnam Short Duration Bond Fund (PARYX) and TIAA-CREF Short-Term Bond Index Fund (TNSHX). 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.
| PARYX | TNSHX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.22 | 1.83 | +0.39 |
Sortino ratioReturn per unit of downside risk | 3.95 | 3.29 | +0.67 |
Omega ratioGain probability vs. loss probability | 1.57 | 1.45 | +0.12 |
Calmar ratioReturn relative to maximum drawdown | 4.13 | 3.67 | +0.46 |
Martin ratioReturn relative to average drawdown | 16.24 | 13.23 | +3.01 |
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
| PARYX | TNSHX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.22 | 1.83 | +0.39 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.10 | 0.78 | +0.32 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.47 | 0.99 | +0.48 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.31 | 1.03 | +0.29 |
Correlation
The correlation between PARYX and TNSHX is 0.62, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
PARYX vs. TNSHX - Dividend Comparison
PARYX's dividend yield for the trailing twelve months is around 3.80%, which matches TNSHX's 3.82% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PARYX Putnam Short Duration Bond Fund | 3.80% | 4.15% | 3.81% | 3.04% | 1.70% | 1.91% | 2.11% | 2.98% | 2.11% | 2.54% | 2.75% | 1.86% |
TNSHX TIAA-CREF Short-Term Bond Index Fund | 3.82% | 4.22% | 3.94% | 2.68% | 1.00% | 1.03% | 1.81% | 2.45% | 1.80% | 1.31% | 0.98% | 0.00% |
Drawdowns
PARYX vs. TNSHX - Drawdown Comparison
The maximum PARYX drawdown since its inception was -7.68%, which is greater than TNSHX's maximum drawdown of -5.99%. Use the drawdown chart below to compare losses from any high point for PARYX and TNSHX.
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Drawdown Indicators
| PARYX | TNSHX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -7.68% | -5.99% | -1.69% |
Max Drawdown (1Y)Largest decline over 1 year | -1.10% | -1.13% | +0.03% |
Max Drawdown (5Y)Largest decline over 5 years | -7.16% | -5.99% | -1.17% |
Max Drawdown (10Y)Largest decline over 10 years | -7.68% | -5.99% | -1.69% |
Current DrawdownCurrent decline from peak | -0.80% | -0.82% | +0.02% |
Average DrawdownAverage peak-to-trough decline | -0.76% | -0.90% | +0.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.28% | 0.31% | -0.03% |
Volatility
PARYX vs. TNSHX - Volatility Comparison
Putnam Short Duration Bond Fund (PARYX) and TIAA-CREF Short-Term Bond Index Fund (TNSHX) have volatilities of 0.51% and 0.52%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PARYX | TNSHX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.51% | 0.52% | -0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 1.19% | 1.23% | -0.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.92% | 1.99% | -0.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.18% | 2.22% | -0.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.01% | 1.80% | +0.21% |