PEQSX vs. FNDX

Last updated Jun 4, 2026

PEQSX (Putnam Large Cap Value Fund Class R6) and FNDX (Schwab Fundamental U.S. Large Company Index ETF) are both Large Cap Value Equities funds. Over the past 10 years, PEQSX returned 14.15%/yr vs 14.26%/yr for FNDX. With a 0.96 correlation, they move nearly in lockstep. PEQSX charges 0.54%/yr vs 0.25%/yr for FNDX.

Performance

PEQSX vs. FNDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Putnam Large Cap Value Fund Class R6 (PEQSX) and Schwab Fundamental U.S. Large Company Index ETF (FNDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PEQSX achieves a 10.03% return, which is significantly lower than FNDX's 14.57% return. Both investments have delivered pretty close results over the past 10 years, with PEQSX having a 14.15% annualized return and FNDX not far ahead at 14.26%.

PEQSX

• 1D: 1.22%
• 1M: 4.01%
• YTD: 10.03%
• 6M: 12.04%
• 1Y: 27.49%
• 3Y*: 21.12%
• 5Y*: 13.62%
• 10Y*: 14.15%

FNDX

• 1D: -0.13%
• 1M: 3.88%
• YTD: 14.57%
• 6M: 14.58%
• 1Y: 32.32%
• 3Y*: 20.90%
• 5Y*: 12.82%
• 10Y*: 14.26%

*Multi-year figures are annualized to reflect compound growth (CAGR)

PEQSX vs. FNDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PEQSX Putnam Large Cap Value Fund Class R6	10.03%	20.49%	19.41%	15.45%	-2.74%	27.33%	6.23%	29.79%	-8.29%	19.15%
FNDX Schwab Fundamental U.S. Large Company Index ETF	14.57%	16.94%	16.77%	18.23%	-6.92%	31.73%	9.12%	28.65%	-7.30%	17.12%

Correlation

The correlation between PEQSX and FNDX 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	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.96
Correlation (All Time) Calculated using the full available price history since Aug 16, 2013	0.96

The correlation between PEQSX and FNDX has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.

Return for Risk

PEQSX vs. FNDX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

PEQSX

PEQSX Risk / Return Rank: 81
PEQSX Sharpe Ratio Rank: 84
PEQSX Sortino Ratio Rank: 80
PEQSX Omega Ratio Rank: 74
PEQSX Calmar Ratio Rank: 84
PEQSX Martin Ratio Rank: 81

FNDX

FNDX Risk / Return Rank: 90
FNDX Sharpe Ratio Rank: 90
FNDX Sortino Ratio Rank: 91
FNDX Omega Ratio Rank: 90
FNDX Calmar Ratio Rank: 89
FNDX Martin Ratio Rank: 90

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

PEQSX vs. FNDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Putnam Large Cap Value Fund Class R6 (PEQSX) and Schwab Fundamental U.S. Large Company Index ETF (FNDX). 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.

	PEQSX	FNDX	Difference
Sharpe ratio: Return per unit of total volatility	2.69	3.18	-0.49
Sortino ratio: Return per unit of downside risk	3.80	4.47	-0.66
Omega ratio: Gain probability vs. loss probability	1.49	1.59	-0.10
Calmar ratio: Return relative to maximum drawdown	3.93	5.35	-1.42
Martin ratio: Return relative to average drawdown	15.33	20.97	-5.63
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PEQSX vs. FNDX - Sharpe Ratio Comparison

The current PEQSX Sharpe Ratio is 2.69, which is comparable to the FNDX Sharpe Ratio of 3.18. The chart below compares the historical Sharpe Ratios of PEQSX and FNDX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PEQSX	FNDX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.69	3.18	-0.49
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.94	0.85	+0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.84	0.82	+0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.85	0.79	+0.06

Drawdowns

PEQSX vs. FNDX - Drawdown Comparison

The maximum PEQSX drawdown since its inception was -36.04%, roughly equal to the maximum FNDX drawdown of -37.72%. Use the drawdown chart below to compare losses from any high point for PEQSX and FNDX.

Drawdown Indicators

	PEQSX	FNDX	Difference
Max Drawdown Largest peak-to-trough decline	-36.04%	-37.72%	+1.68%
Max Drawdown (1Y) Largest decline over 1 year	-7.18%	-6.06%	-1.12%
Max Drawdown (3Y) Largest decline over 3 years	-15.01%	-16.30%	+1.29%
Max Drawdown (5Y) Largest decline over 5 years	-15.18%	-19.06%	+3.88%
Max Drawdown (10Y) Largest decline over 10 years	-36.04%	-37.72%	+1.68%
Current Drawdown Current decline from peak	0.00%	-0.13%	+0.13%
Average Drawdown Average peak-to-trough decline	-3.21%	-3.55%	+0.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.84%	1.55%	+0.29%

Volatility

PEQSX vs. FNDX - Volatility Comparison

Putnam Large Cap Value Fund Class R6 (PEQSX) has a higher volatility of 2.58% compared to Schwab Fundamental U.S. Large Company Index ETF (FNDX) at 2.25%. This indicates that PEQSX's price experiences larger fluctuations and is considered to be riskier than FNDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PEQSX	FNDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.58%	2.25%	+0.33%
Volatility (6M) Calculated over the trailing 6-month period	8.03%	7.25%	+0.78%
Volatility (1Y) Calculated over the trailing 1-year period	10.50%	10.22%	+0.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.50%	15.18%	-0.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.00%	17.50%	-0.50%

PEQSX vs. FNDX - Expense Ratio Comparison

PEQSX has a 0.54% expense ratio, which is higher than FNDX's 0.25% expense ratio.

Dividends

PEQSX vs. FNDX - Dividend Comparison

PEQSX's dividend yield for the trailing twelve months is around 5.11%, more than FNDX's 1.45% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FNDX Schwab Fundamental U.S. Large Company Index ETF	1.45%	1.63%	1.76%	1.82%	2.07%	1.64%	2.29%	2.23%	2.40%	1.86%	2.01%	2.01%
PEQSX Putnam Large Cap Value Fund Class R6	5.11%	5.69%	7.14%	5.26%	7.40%	7.40%	6.30%	3.66%	6.08%	3.56%	2.66%	6.31%

Frequently Asked Questions

Can I hold both PEQSX and FNDX in my portfolio?

With a correlation of 0.93, PEQSX and FNDX 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.

Which is riskier, PEQSX or FNDX?

PEQSX has higher volatility (2.58%) compared to FNDX (2.25%). In terms of maximum drawdown, PEQSX dropped -36.04% vs FNDX's -37.72%.

Which has better risk-adjusted returns?

FNDX currently has the higher Sharpe Ratio (3.18 vs 2.69), 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.