PENNX vs. PNSAX
Compare and contrast key facts about Royce Pennsylvania Mutual Fund (PENNX) and Putnam Small Cap Growth Fund (PNSAX).
PENNX is managed by Royce Investment Partners. It was launched on Oct 31, 1972. PNSAX is managed by Putnam. It was launched on Dec 31, 1997.
Performance
PENNX vs. PNSAX - Performance Comparison
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PENNX vs. PNSAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PENNX Royce Pennsylvania Mutual Fund | 3.90% | 9.02% | 7.02% | 26.82% | -17.18% | 21.49% | 14.11% | 26.61% | -9.94% | 16.00% |
PNSAX Putnam Small Cap Growth Fund | -0.28% | 8.91% | 22.98% | 22.87% | -28.10% | 14.38% | 47.65% | 37.60% | -2.46% | 20.19% |
Returns By Period
In the year-to-date period, PENNX achieves a 3.90% return, which is significantly higher than PNSAX's -0.28% return. Over the past 10 years, PENNX has underperformed PNSAX with an annualized return of 10.76%, while PNSAX has yielded a comparatively higher 13.98% annualized return.
PENNX
- 1D
- 3.00%
- 1M
- -6.52%
- YTD
- 3.90%
- 6M
- 5.66%
- 1Y
- 24.43%
- 3Y*
- 12.44%
- 5Y*
- 5.97%
- 10Y*
- 10.76%
PNSAX
- 1D
- 5.00%
- 1M
- -7.90%
- YTD
- -0.28%
- 6M
- -2.39%
- 1Y
- 20.42%
- 3Y*
- 15.34%
- 5Y*
- 5.04%
- 10Y*
- 13.98%
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PENNX vs. PNSAX - Expense Ratio Comparison
PENNX has a 0.92% expense ratio, which is lower than PNSAX's 1.23% expense ratio.
Return for Risk
PENNX vs. PNSAX — Risk / Return Rank
PENNX
PNSAX
PENNX vs. PNSAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Royce Pennsylvania Mutual Fund (PENNX) 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.
| PENNX | PNSAX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.11 | 0.86 | +0.25 |
Sortino ratioReturn per unit of downside risk | 1.68 | 1.36 | +0.33 |
Omega ratioGain probability vs. loss probability | 1.22 | 1.17 | +0.05 |
Calmar ratioReturn relative to maximum drawdown | 1.80 | 1.49 | +0.31 |
Martin ratioReturn relative to average drawdown | 7.01 | 5.15 | +1.86 |
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
| PENNX | PNSAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.11 | 0.86 | +0.25 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.29 | 0.22 | +0.07 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.50 | 0.60 | -0.10 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.48 | 0.42 | +0.07 |
Correlation
The correlation between PENNX and PNSAX is 0.89, 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
PENNX vs. PNSAX - Dividend Comparison
PENNX's dividend yield for the trailing twelve months is around 6.45%, more than PNSAX's 0.43% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PENNX Royce Pennsylvania Mutual Fund | 6.45% | 6.70% | 9.35% | 4.91% | 5.19% | 28.20% | 5.05% | 3.85% | 23.68% | 21.27% | 7.15% | 23.31% |
PNSAX Putnam Small Cap Growth Fund | 0.43% | 0.42% | 0.00% | 0.00% | 0.00% | 15.27% | 4.87% | 1.93% | 1.88% | 0.00% | 0.00% | 0.00% |
Drawdowns
PENNX vs. PNSAX - Drawdown Comparison
The maximum PENNX drawdown since its inception was -57.00%, smaller than the maximum PNSAX drawdown of -69.47%. Use the drawdown chart below to compare losses from any high point for PENNX and PNSAX.
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Drawdown Indicators
| PENNX | PNSAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.00% | -69.47% | +12.47% |
Max Drawdown (1Y)Largest decline over 1 year | -13.65% | -14.00% | +0.35% |
Max Drawdown (5Y)Largest decline over 5 years | -27.58% | -38.77% | +11.19% |
Max Drawdown (10Y)Largest decline over 10 years | -41.10% | -38.77% | -2.33% |
Current DrawdownCurrent decline from peak | -7.51% | -9.70% | +2.19% |
Average DrawdownAverage peak-to-trough decline | -9.43% | -23.68% | +14.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.50% | 4.05% | -0.55% |
Volatility
PENNX vs. PNSAX - Volatility Comparison
The current volatility for Royce Pennsylvania Mutual Fund (PENNX) is 7.09%, while Putnam Small Cap Growth Fund (PNSAX) has a volatility of 10.40%. This indicates that PENNX experiences smaller price fluctuations and is considered to be less risky than PNSAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PENNX | PNSAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.09% | 10.40% | -3.31% |
Volatility (6M)Calculated over the trailing 6-month period | 13.16% | 17.67% | -4.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.55% | 24.86% | -2.31% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.71% | 23.05% | -2.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.51% | 23.43% | -1.92% |