PEYAX vs. PKAIX

Last updated Jun 3, 2026

PEYAX (Putnam Large Cap Value Fund) and PKAIX (PIMCO RAE US Fund) are both Large Cap Value Equities funds. Over the past 10 years, PEYAX returned 13.03%/yr vs 14.13%/yr for PKAIX. Their correlation of 0.92 suggests significant overlap in exposure. PEYAX charges 0.88%/yr vs 0.40%/yr for PKAIX.

Performance

PEYAX vs. PKAIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Putnam Large Cap Value Fund (PEYAX) and PIMCO RAE US Fund (PKAIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PEYAX achieves a 8.55% return, which is significantly lower than PKAIX's 23.68% return. Over the past 10 years, PEYAX has underperformed PKAIX with an annualized return of 13.03%, while PKAIX has yielded a comparatively higher 14.13% annualized return.

PEYAX

• 1D: -0.26%
• 1M: 1.94%
• YTD: 8.55%
• 6M: 11.41%
• 1Y: 26.16%
• 3Y*: 20.23%
• 5Y*: 11.72%
• 10Y*: 13.03%

PKAIX

• 1D: 0.72%
• 1M: 6.84%
• YTD: 23.68%
• 6M: 20.97%
• 1Y: 43.85%
• 3Y*: 25.23%
• 5Y*: 14.74%
• 10Y*: 14.13%

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

PEYAX vs. PKAIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PEYAX Putnam Large Cap Value Fund	8.55%	20.09%	18.99%	15.09%	-8.37%	26.84%	5.87%	29.94%	-8.63%	18.79%
PKAIX PIMCO RAE US Fund	23.68%	17.19%	16.28%	17.02%	-3.36%	27.74%	3.94%	24.92%	-6.92%	16.51%

Correlation

The correlation between PEYAX and PKAIX is 0.80, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (10Y) Calculated over the trailing 10-year period	0.92
Correlation (All Time) Calculated using the full available price history since Jun 8, 2015	0.92

The correlation between PEYAX and PKAIX shifts across timeframes, from 0.80 (1 year) to 0.92 (all time), reflecting how their relationship changes across market environments.

Return for Risk

PEYAX vs. PKAIX — Risk / Return Rank

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

PEYAX

PEYAX Risk / Return Rank: 75
PEYAX Sharpe Ratio Rank: 76
PEYAX Sortino Ratio Rank: 74
PEYAX Omega Ratio Rank: 68
PEYAX Calmar Ratio Rank: 79
PEYAX Martin Ratio Rank: 75

PKAIX

PKAIX Risk / Return Rank: 94
PKAIX Sharpe Ratio Rank: 96
PKAIX Sortino Ratio Rank: 92
PKAIX Omega Ratio Rank: 88
PKAIX Calmar Ratio Rank: 98
PKAIX Martin Ratio Rank: 97

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.

PEYAX vs. PKAIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Putnam Large Cap Value Fund (PEYAX) and PIMCO RAE US Fund (PKAIX). 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.

	PEYAX	PKAIX	Difference
Sharpe ratio Return per unit of total volatility	2.54	3.45	-0.91
Sortino ratio Return per unit of downside risk	3.60	4.66	-1.06
Omega ratio Gain probability vs. loss probability	1.46	1.61	-0.15
Calmar ratio Return relative to maximum drawdown	3.61	8.52	-4.91
Martin ratio Return relative to average drawdown	14.13	26.24	-12.11
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PEYAX vs. PKAIX - Sharpe Ratio Comparison

The current PEYAX Sharpe Ratio is 2.54, which is comparable to the PKAIX Sharpe Ratio of 3.45. The chart below compares the historical Sharpe Ratios of PEYAX and PKAIX, 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

	PEYAX	PKAIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.54	3.45	-0.91
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.80	0.83	-0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.77	0.75	+0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.38	0.69	-0.32

Drawdowns

PEYAX vs. PKAIX - Drawdown Comparison

The maximum PEYAX drawdown since its inception was -56.92%, which is greater than PKAIX's maximum drawdown of -38.56%. Use the drawdown chart below to compare losses from any high point for PEYAX and PKAIX.

Drawdown Indicators

	PEYAX	PKAIX	Difference
Max Drawdown Largest peak-to-trough decline	-56.92%	-38.56%	-18.36%
Max Drawdown (1Y) Largest decline over 1 year	-7.23%	-5.15%	-2.08%
Max Drawdown (3Y) Largest decline over 3 years	-15.12%	-20.31%	+5.19%
Max Drawdown (5Y) Largest decline over 5 years	-15.31%	-20.64%	+5.33%
Max Drawdown (10Y) Largest decline over 10 years	-36.06%	-38.56%	+2.50%
Current Drawdown Current decline from peak	-0.26%	0.00%	-0.26%
Average Drawdown Average peak-to-trough decline	-14.06%	-4.72%	-9.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.85%	1.67%	+0.18%

Volatility

PEYAX vs. PKAIX - Volatility Comparison

The current volatility for Putnam Large Cap Value Fund (PEYAX) is 2.35%, while PIMCO RAE US Fund (PKAIX) has a volatility of 3.14%. This indicates that PEYAX experiences smaller price fluctuations and is considered to be less risky than PKAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PEYAX	PKAIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.35%	3.14%	-0.79%
Volatility (6M) Calculated over the trailing 6-month period	7.94%	9.39%	-1.45%
Volatility (1Y) Calculated over the trailing 1-year period	10.43%	12.89%	-2.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.67%	17.79%	-3.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.06%	18.85%	-1.79%

PEYAX vs. PKAIX - Expense Ratio Comparison

PEYAX has a 0.88% expense ratio, which is higher than PKAIX's 0.40% expense ratio.

Dividends

PEYAX vs. PKAIX - Dividend Comparison

PEYAX's dividend yield for the trailing twelve months is around 4.87%, less than PKAIX's 11.13% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PEYAX Putnam Large Cap Value Fund	4.87%	5.36%	6.80%	4.93%	1.21%	7.09%	5.97%	3.79%	5.67%	3.31%	2.27%	5.86%
PKAIX PIMCO RAE US Fund	11.13%	13.77%	16.77%	6.65%	8.09%	10.03%	3.20%	4.91%	6.85%	5.85%	5.33%	3.49%

Frequently Asked Questions

Can I hold both PEYAX and PKAIX in my portfolio?

PEYAX and PKAIX have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PEYAX or PKAIX?

PKAIX has higher volatility (3.14%) compared to PEYAX (2.35%). In terms of maximum drawdown, PEYAX dropped -56.92% vs PKAIX's -38.56%.

Which has better risk-adjusted returns?

PKAIX currently has the higher Sharpe Ratio (3.45 vs 2.54), 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.