PEYAX vs. VTV

Last updated Jun 26, 2026

PEYAX (Putnam Large Cap Value Fund) and VTV (Vanguard Value ETF) are both Large Cap Value Equities funds. Over the past 10 years, PEYAX returned 13.54%/yr vs 13.32%/yr for VTV. With a 0.96 correlation, they move nearly in lockstep. PEYAX charges 0.88%/yr vs 0.04%/yr for VTV.

Performance

PEYAX vs. VTV - Performance Comparison

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

Returns By Period

In the year-to-date period, PEYAX achieves a 10.21% return, which is significantly lower than VTV's 16.08% return. Both investments have delivered pretty close results over the past 10 years, with PEYAX having a 13.54% annualized return and VTV not far behind at 13.32%.

PEYAX

• 1D: -0.14%
• 1M: 1.58%
• YTD: 10.21%
• 6M: 8.96%
• 1Y: 25.85%
• 3Y*: 20.16%
• 5Y*: 12.19%
• 10Y*: 13.54%

VTV

• 1D: 1.33%
• 1M: 3.94%
• YTD: 16.08%
• 6M: 14.95%
• 1Y: 28.72%
• 3Y*: 19.06%
• 5Y*: 12.39%
• 10Y*: 13.32%

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

PEYAX vs. VTV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PEYAX Putnam Large Cap Value Fund	10.21%	20.09%	18.99%	15.09%	-8.37%	26.84%	5.87%	29.94%	-8.63%	18.79%
VTV Vanguard Value ETF	16.08%	15.27%	15.95%	9.32%	-2.09%	26.53%	2.33%	25.66%	-5.47%	17.15%

Correlation

The correlation between PEYAX and VTV is 0.92, 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	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.93
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 Jan 30, 2004	0.96

The correlation between PEYAX and VTV has been stable across timeframes, ranging from 0.92 to 0.96 - a consistent structural relationship.

Return for Risk

PEYAX vs. VTV — Risk / Return Rank

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

PEYAX

PEYAX Risk / Return Rank: 82
PEYAX Sharpe Ratio Rank: 82
PEYAX Sortino Ratio Rank: 81
PEYAX Omega Ratio Rank: 77
PEYAX Calmar Ratio Rank: 84
PEYAX Martin Ratio Rank: 85

VTV

VTV Risk / Return Rank: 91
VTV Sharpe Ratio Rank: 92
VTV Sortino Ratio Rank: 93
VTV Omega Ratio Rank: 90
VTV Calmar Ratio Rank: 88
VTV Martin Ratio Rank: 89

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. VTV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Putnam Large Cap Value Fund (PEYAX) and Vanguard Value ETF (VTV). 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	VTV	Difference
Sharpe ratio: Return per unit of total volatility	2.32	2.77	-0.46
Sortino ratio: Return per unit of downside risk	3.29	3.95	-0.67
Omega ratio: Gain probability vs. loss probability	1.42	1.50	-0.08
Calmar ratio: Return relative to maximum drawdown	3.49	4.54	-1.05
Martin ratio: Return relative to average drawdown	13.50	17.12	-3.61

PEYAX vs. VTV - Sharpe Ratio Comparison

The current PEYAX Sharpe Ratio is 2.32, which is comparable to the VTV Sharpe Ratio of 2.77. The chart below compares the historical Sharpe Ratios of PEYAX and VTV, 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

PEYAX vs. VTV - Drawdown Comparison

The maximum PEYAX drawdown since its inception was -56.92%, roughly equal to the maximum VTV drawdown of -59.27%. Use the drawdown chart below to compare losses from any high point for PEYAX and VTV.

Drawdown Indicators

	PEYAX	VTV	Difference
Max Drawdown Largest peak-to-trough decline	-56.92%	-59.27%	+2.35%
Max Drawdown (1Y) Largest decline over 1 year	-7.23%	-6.35%	-0.88%
Max Drawdown (3Y) Largest decline over 3 years	-15.12%	-14.52%	-0.60%
Max Drawdown (5Y) Largest decline over 5 years	-15.31%	-17.04%	+1.73%
Max Drawdown (10Y) Largest decline over 10 years	-36.06%	-36.78%	+0.72%
Current Drawdown Current decline from peak	-1.46%	0.00%	-1.46%
Average Drawdown Average peak-to-trough decline	-14.04%	-7.85%	-6.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.87%	1.68%	+0.19%

Volatility

PEYAX vs. VTV - Volatility Comparison

Putnam Large Cap Value Fund (PEYAX) has a higher volatility of 3.96% compared to Vanguard Value ETF (VTV) at 3.51%. This indicates that PEYAX's price experiences larger fluctuations and is considered to be riskier than VTV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PEYAX	VTV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.96%	3.51%	+0.45%
Volatility (6M) Calculated over the trailing 6-month period	8.49%	7.91%	+0.58%
Volatility (1Y) Calculated over the trailing 1-year period	10.92%	10.43%	+0.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.72%	13.88%	+0.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.04%	16.64%	+0.40%

PEYAX vs. VTV - Expense Ratio Comparison

PEYAX has a 0.88% expense ratio, which is higher than VTV's 0.04% expense ratio.

Dividends

PEYAX vs. VTV - Dividend Comparison

PEYAX's dividend yield for the trailing twelve months is around 4.79%, more than VTV's 1.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PEYAX Putnam Large Cap Value Fund	4.79%	5.36%	6.80%	4.93%	1.21%	7.09%	5.97%	3.79%	5.67%	3.31%	2.27%	5.86%
VTV Vanguard Value ETF	1.80%	2.05%	2.31%	2.46%	2.52%	2.15%	2.56%	2.50%	2.73%	2.29%	2.44%	2.60%

Frequently Asked Questions

Can I hold both PEYAX and VTV in my portfolio?

With a correlation of 0.92, PEYAX and VTV 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, PEYAX or VTV?

PEYAX has higher volatility (3.96%) compared to VTV (3.51%). In terms of maximum drawdown, PEYAX dropped -56.92% vs VTV's -59.27%.

Which has better risk-adjusted returns?

VTV currently has the higher Sharpe Ratio (2.77 vs 2.32), 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.