PEQUX vs. POGAX

Last updated Aug 5, 2026

PEQUX (Putnam Focused International Equity Fund) and POGAX (Putnam Large Cap Growth Fund Class A) are both mutual funds - PEQUX is a Foreign Large Cap Equities fund managed by Putnam, while POGAX is a Large Cap Growth Equities fund actively managed by Putnam. Over the past 10 years, PEQUX returned 10.34%/yr vs 17.18%/yr for POGAX. Their correlation of 0.82 means they have usually moved in the same direction. PEQUX charges 1.07%/yr vs 0.93%/yr for POGAX.

Performance

PEQUX vs. POGAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Putnam Focused International Equity Fund (PEQUX) and Putnam Large Cap Growth Fund Class A (POGAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PEQUX achieves a 13.50% return, which is significantly higher than POGAX's 2.30% return. Over the past 10 years, PEQUX has underperformed POGAX with an annualized return of 10.34%, while POGAX has yielded a comparatively higher 17.18% annualized return.

PEQUX

• 1D: 0.53%
• 1M: -0.33%
• 6M: 8.80%
• YTD: 13.50%
• 1Y: 29.31%
• 3Y*: 19.30%
• 5Y*: 9.29%
• 10Y*: 10.34%
• ALL TIME*: 3.59%

POGAX

• 1D: 2.04%
• 1M: -1.12%
• 6M: 5.00%
• YTD: 2.30%
• 1Y: 8.04%
• 3Y*: 19.93%
• 5Y*: 10.64%
• 10Y*: 17.18%
• ALL TIME*: 9.68%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
PEQUX Putnam Focused International Equity Fund	$0.00	$0.00	$0.00
POGAX Putnam Large Cap Growth Fund Class A	$0.00	$0.00	$0.00

PEQUX vs. POGAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PEQUX Putnam Focused International Equity Fund	13.50%	36.14%	3.56%	19.05%	-18.17%	10.46%	10.12%	26.66%	-12.63%	28.08%
POGAX Putnam Large Cap Growth Fund Class A	2.30%	14.28%	33.22%	44.22%	-30.43%	22.64%	38.44%	36.44%	2.29%	30.97%

Correlation

The correlation between PEQUX and POGAX is 0.72, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.72
Correlation (3Y) Balances recent behavior with more history.	0.64
Correlation (5Y) Shows whether the relationship held over a longer period.	0.70
Correlation (10Y) Provides a long-term view across more market conditions.	0.77
Correlation (All Time) Calculated using the full available price history since Jan 2, 1996	0.82

The correlation between PEQUX and POGAX shifts across timeframes, from 0.64 (3 years) to 0.82 (all time), reflecting how their relationship changes across market environments.

Return for Risk

PEQUX vs. POGAX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

PEQUX

PEQUX Risk / Return Rank: 73
PEQUX Sharpe Ratio Rank: 74
PEQUX Sortino Ratio Rank: 66
PEQUX Omega Ratio Rank: 70
PEQUX Calmar Ratio Rank: 73
PEQUX Martin Ratio Rank: 79

POGAX

POGAX Risk / Return Rank: 13
POGAX Sharpe Ratio Rank: 13
POGAX Sortino Ratio Rank: 14
POGAX Omega Ratio Rank: 14
POGAX Calmar Ratio Rank: 11
POGAX Martin Ratio Rank: 13

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

PEQUX vs. POGAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Putnam Focused International Equity Fund (PEQUX) and Putnam Large Cap Growth Fund Class A (POGAX). 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.

	PEQUX	POGAX	Difference
Sharpe ratio: Return per unit of total volatility	1.86	0.57	+1.29
Sortino ratio: Return per unit of downside risk	2.48	0.91	+1.57
Omega ratio: Gain probability vs. loss probability	1.34	1.11	+0.23
Calmar ratio: Return relative to maximum drawdown	2.62	0.63	+1.99
Martin ratio: Return relative to average drawdown	10.78	1.87	+8.91

PEQUX vs. POGAX - Sharpe Ratio Comparison

The current PEQUX Sharpe Ratio is 1.86, which is higher than the POGAX Sharpe Ratio of 0.57. The chart below compares the historical Sharpe Ratios of PEQUX and POGAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

PEQUX vs. POGAX - Drawdown Comparison

The maximum PEQUX drawdown since its inception was -83.68%, which is greater than POGAX's maximum drawdown of -76.55%. Use the drawdown chart below to compare losses from any high point for PEQUX and POGAX.

Drawdown Indicators

	PEQUX	POGAX	Difference
Max Drawdown Largest peak-to-trough decline	-83.68%	-76.55%	-7.13%
Max Drawdown (1Y) Largest decline over 1 year	-11.80%	-16.42%	+4.62%
Max Drawdown (3Y) Largest decline over 3 years	-11.80%	-23.66%	+11.86%
Max Drawdown (5Y) Largest decline over 5 years	-33.42%	-34.15%	+0.73%
Max Drawdown (10Y) Largest decline over 10 years	-35.75%	-34.15%	-1.60%
Current Drawdown Current decline from peak	-1.73%	-6.71%	+4.98%
Average Drawdown Average peak-to-trough decline	-33.83%	-28.91%	-4.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.86%	5.51%	-2.65%

Volatility

PEQUX vs. POGAX - Volatility Comparison

The current volatility for Putnam Focused International Equity Fund (PEQUX) is 4.60%, while Putnam Large Cap Growth Fund Class A (POGAX) has a volatility of 6.57%. This indicates that PEQUX experiences smaller price fluctuations and is considered to be less risky than POGAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PEQUX	POGAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.60%	6.57%	-1.97%
Volatility (6M) Calculated over the trailing 6-month period	14.22%	14.59%	-0.37%
Volatility (1Y) Calculated over the trailing 1-year period	16.66%	18.08%	-1.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.28%	21.99%	-5.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.00%	21.34%	-4.34%

PEQUX vs. POGAX - Expense Ratio Comparison

PEQUX has a 1.07% expense ratio, which is higher than POGAX's 0.93% expense ratio.

Dividends

PEQUX vs. POGAX - Dividend Comparison

PEQUX's dividend yield for the trailing twelve months is around 6.14%, more than POGAX's 5.56% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PEQUX Putnam Focused International Equity Fund	6.14%	6.96%	3.75%	1.01%	2.79%	34.47%	0.53%	0.05%	0.00%	0.35%	1.59%	0.56%
POGAX Putnam Large Cap Growth Fund Class A	5.56%	5.68%	4.58%	0.49%	7.80%	9.08%	3.29%	3.83%	7.98%	1.89%	0.01%	5.70%

Frequently Asked Questions

Can I hold both PEQUX and POGAX in my portfolio?

PEQUX and POGAX have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PEQUX or POGAX?

POGAX has higher volatility (6.57%) compared to PEQUX (4.60%). In terms of maximum drawdown, PEQUX dropped -83.68% vs POGAX's -76.55%.

Which has better risk-adjusted returns?

PEQUX currently has the higher Sharpe Ratio (1.86 vs 0.57), 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.