PEYAX vs. MALVX
PEYAX (Putnam Large Cap Value Fund) and MALVX (BlackRock Advantage Large Cap Value Fund) are both Large Cap Value Equities funds. Over the past 10 years, PEYAX returned 13.64%/yr vs 13.27%/yr for MALVX. Their correlation of 0.94 suggests significant overlap in exposure. PEYAX charges 0.88%/yr vs 0.54%/yr for MALVX.
Performance
PEYAX vs. MALVX - Performance Comparison
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Returns By Period
In the year-to-date period, PEYAX achieves a 11.15% return, which is significantly lower than MALVX's 19.19% return. Both investments have delivered pretty close results over the past 10 years, with PEYAX having a 13.64% annualized return and MALVX not far behind at 13.27%.
PEYAX
- 1D
- 0.23%
- 1M
- 2.83%
- YTD
- 11.15%
- 6M
- 10.34%
- 1Y
- 26.97%
- 3Y*
- 20.50%
- 5Y*
- 12.71%
- 10Y*
- 13.64%
MALVX
- 1D
- 0.54%
- 1M
- 4.33%
- YTD
- 19.19%
- 6M
- 18.50%
- 1Y
- 36.19%
- 3Y*
- 21.58%
- 5Y*
- 12.93%
- 10Y*
- 13.27%
PEYAX vs. MALVX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PEYAX Putnam Large Cap Value Fund | 11.15% | 20.09% | 18.99% | 15.09% | -8.37% | 26.84% | 5.87% | 29.94% | -8.63% | 18.79% |
MALVX BlackRock Advantage Large Cap Value Fund | 19.19% | 18.38% | 15.39% | 13.74% | -8.68% | 26.51% | 3.91% | 24.74% | -7.74% | 15.82% |
Correlation
The correlation between PEYAX and MALVX 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 | 0.95 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Dec 22, 1999 | 0.94 |
The correlation between PEYAX and MALVX has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.
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Return for Risk
PEYAX vs. MALVX — Risk / Return Rank
PEYAX
MALVX
PEYAX vs. MALVX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Putnam Large Cap Value Fund (PEYAX) and BlackRock Advantage Large Cap Value Fund (MALVX). 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.
| PEYAX | MALVX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.77 | ||
| Sortino ratioReturn per unit of downside risk | -1.03 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.61 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 3.89 | 5.71 | -1.82 |
| Martin ratioReturn relative to average drawdown | 15.06 | 25.85 | -10.80 |
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Drawdowns
PEYAX vs. MALVX - Drawdown Comparison
The maximum PEYAX drawdown since its inception was -56.92%, roughly equal to the maximum MALVX drawdown of -55.21%. Use the drawdown chart below to compare losses from any high point for PEYAX and MALVX.
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Drawdown Indicators
| PEYAX | MALVX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.92% | -55.21% | -1.71% |
Max Drawdown (1Y)Largest decline over 1 year | -7.23% | -6.53% | -0.70% |
Max Drawdown (3Y)Largest decline over 3 years | -15.12% | -16.13% | +1.01% |
Max Drawdown (5Y)Largest decline over 5 years | -15.31% | -19.73% | +4.42% |
Max Drawdown (10Y)Largest decline over 10 years | -36.06% | -37.12% | +1.06% |
Current DrawdownCurrent decline from peak | -0.62% | 0.00% | -0.62% |
Average DrawdownAverage peak-to-trough decline | -14.04% | -8.74% | -5.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.86% | 1.44% | +0.42% |
Volatility
PEYAX vs. MALVX - Volatility Comparison
The current volatility for Putnam Large Cap Value Fund (PEYAX) is 3.88%, while BlackRock Advantage Large Cap Value Fund (MALVX) has a volatility of 4.09%. This indicates that PEYAX experiences smaller price fluctuations and is considered to be less risky than MALVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PEYAX | MALVX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.88% | 4.09% | -0.21% |
Volatility (6M)Calculated over the trailing 6-month period | 8.47% | 8.79% | -0.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.94% | 11.15% | -0.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.72% | 14.81% | -0.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.09% | 17.34% | -0.25% |
PEYAX vs. MALVX - Expense Ratio Comparison
PEYAX has a 0.88% expense ratio, which is higher than MALVX's 0.54% expense ratio.
Dividends
PEYAX vs. MALVX - Dividend Comparison
PEYAX's dividend yield for the trailing twelve months is around 4.75%, less than MALVX's 7.74% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MALVX BlackRock Advantage Large Cap Value Fund | 7.74% | 9.23% | 14.33% | 2.84% | 5.96% | 17.48% | 1.68% | 3.92% | 12.95% | 0.43% | 1.38% | 1.01% |
PEYAX Putnam Large Cap Value Fund | 4.75% | 5.36% | 6.80% | 4.93% | 1.21% | 7.09% | 5.97% | 3.79% | 5.67% | 3.31% | 2.27% | 5.86% |
Frequently Asked Questions
With a correlation of 0.93, PEYAX and MALVX 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.
MALVX has higher volatility (4.09%) compared to PEYAX (3.88%). In terms of maximum drawdown, PEYAX dropped -56.92% vs MALVX's -55.21%.
MALVX currently has the higher Sharpe Ratio (3.35 vs 2.58), 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.
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