PEYAX vs. PMOTX
PEYAX (Putnam Large Cap Value Fund) and PMOTX (Putnam Mortgage Opportunities Fund) are both mutual funds - PEYAX is a Large Cap Value Equities fund managed by Putnam, while PMOTX is a Nontraditional Bonds fund managed by Putnam. Over the past 10 years, PEYAX returned 13.64%/yr vs 4.46%/yr for PMOTX. At a 0.24 correlation, their price movements are largely independent. PEYAX charges 0.88%/yr vs 0.47%/yr for PMOTX.
Performance
PEYAX vs. PMOTX - Performance Comparison
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Returns By Period
In the year-to-date period, PEYAX achieves a 11.15% return, which is significantly higher than PMOTX's 5.26% return. Over the past 10 years, PEYAX has outperformed PMOTX with an annualized return of 13.64%, while PMOTX has yielded a comparatively lower 4.46% annualized return.
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%
PMOTX
- 1D
- 0.22%
- 1M
- 1.47%
- YTD
- 5.26%
- 6M
- 3.85%
- 1Y
- 6.64%
- 3Y*
- 8.31%
- 5Y*
- 5.06%
- 10Y*
- 4.46%
PEYAX vs. PMOTX - 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% |
PMOTX Putnam Mortgage Opportunities Fund | 5.26% | 3.83% | 10.08% | 6.71% | 4.33% | -3.63% | -6.27% | 12.02% | 3.12% | 6.13% |
Correlation
The correlation between PEYAX and PMOTX is -0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.17 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016 | 0.24 |
The correlation between PEYAX and PMOTX shifts across timeframes, from -0.01 (1 year) to 0.24 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PEYAX vs. PMOTX — Risk / Return Rank
PEYAX
PMOTX
PEYAX vs. PMOTX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Putnam Large Cap Value Fund (PEYAX) and Putnam Mortgage Opportunities Fund (PMOTX). 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 | PMOTX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.46 | ||
| Sortino ratioReturn per unit of downside risk | +0.64 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.53 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 3.89 | 4.21 | -0.32 |
| Martin ratioReturn relative to average drawdown | 15.06 | 13.88 | +1.17 |
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Drawdowns
PEYAX vs. PMOTX - Drawdown Comparison
The maximum PEYAX drawdown since its inception was -56.92%, which is greater than PMOTX's maximum drawdown of -17.57%. Use the drawdown chart below to compare losses from any high point for PEYAX and PMOTX.
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Drawdown Indicators
| PEYAX | PMOTX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.92% | -17.57% | -39.35% |
Max Drawdown (1Y)Largest decline over 1 year | -7.23% | -1.56% | -5.67% |
Max Drawdown (3Y)Largest decline over 3 years | -15.12% | -1.77% | -13.35% |
Max Drawdown (5Y)Largest decline over 5 years | -15.31% | -4.24% | -11.07% |
Max Drawdown (10Y)Largest decline over 10 years | -36.06% | -17.57% | -18.49% |
Current DrawdownCurrent decline from peak | -0.62% | 0.00% | -0.62% |
Average DrawdownAverage peak-to-trough decline | -14.04% | -2.98% | -11.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.86% | 0.47% | +1.39% |
Volatility
PEYAX vs. PMOTX - Volatility Comparison
Putnam Large Cap Value Fund (PEYAX) has a higher volatility of 3.88% compared to Putnam Mortgage Opportunities Fund (PMOTX) at 1.18%. This indicates that PEYAX's price experiences larger fluctuations and is considered to be riskier than PMOTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PEYAX | PMOTX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.88% | 1.18% | +2.70% |
Volatility (6M)Calculated over the trailing 6-month period | 8.47% | 2.54% | +5.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.94% | 3.11% | +7.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.72% | 3.48% | +11.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.09% | 4.73% | +12.36% |
PEYAX vs. PMOTX - Expense Ratio Comparison
PEYAX has a 0.88% expense ratio, which is higher than PMOTX's 0.47% expense ratio.
Dividends
PEYAX vs. PMOTX - Dividend Comparison
PEYAX's dividend yield for the trailing twelve months is around 4.75%, more than PMOTX's 3.69% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
PMOTX Putnam Mortgage Opportunities Fund | 3.69% | 4.26% | 6.11% | 7.73% | 5.17% | 4.72% | 3.64% | 6.83% | 5.94% | 0.77% | 0.00% | 0.00% |
Frequently Asked Questions
PEYAX and PMOTX have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PEYAX has higher volatility (3.88%) compared to PMOTX (1.18%). In terms of maximum drawdown, PEYAX dropped -56.92% vs PMOTX's -17.57%.
PEYAX currently has the higher Sharpe Ratio (2.58 vs 2.12), 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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