PFLRX vs. PEIYX

Last updated Jun 5, 2026

PFLRX (Putnam Floating Rate Income Fund) and PEIYX (Putnam Large Cap Value Fund) are both mutual funds - PFLRX is a Bank Loan fund managed by Putnam, while PEIYX is a Large Cap Value Equities fund managed by Putnam. Over the past 10 years, PFLRX returned 3.73%/yr vs 13.96%/yr for PEIYX. At a 0.19 correlation, their price movements are largely independent. PFLRX charges 1.03%/yr vs 0.65%/yr for PEIYX.

Performance

PFLRX vs. PEIYX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Putnam Floating Rate Income Fund (PFLRX) and Putnam Large Cap Value Fund (PEIYX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PFLRX achieves a 0.13% return, which is significantly lower than PEIYX's 9.66% return. Over the past 10 years, PFLRX has underperformed PEIYX with an annualized return of 3.73%, while PEIYX has yielded a comparatively higher 13.96% annualized return.

PFLRX

• 1D: -0.13%
• 1M: 0.70%
• YTD: 0.13%
• 6M: 0.70%
• 1Y: 3.15%
• 3Y*: 5.94%
• 5Y*: 4.06%
• 10Y*: 3.73%

PEIYX

• 1D: -0.30%
• 1M: 2.90%
• YTD: 9.66%
• 6M: 11.79%
• 1Y: 27.42%
• 3Y*: 20.76%
• 5Y*: 13.29%
• 10Y*: 13.96%

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

PFLRX vs. PEIYX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PFLRX Putnam Floating Rate Income Fund	0.13%	4.74%	6.34%	11.01%	-2.78%	3.04%	0.69%	8.14%	-0.66%	3.28%
PEIYX Putnam Large Cap Value Fund	9.66%	19.94%	19.32%	15.34%	-2.83%	27.18%	6.11%	29.69%	-8.35%	18.96%

Correlation

The correlation between PFLRX and PEIYX is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.32
Correlation (3Y) Calculated over the trailing 3-year period	0.34
Correlation (5Y) Calculated over the trailing 5-year period	0.33
Correlation (10Y) Calculated over the trailing 10-year period	0.27
Correlation (All Time) Calculated using the full available price history since Aug 6, 2004	0.19

The correlation between PFLRX and PEIYX shifts across timeframes, from 0.19 (all time) to 0.34 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

PFLRX vs. PEIYX — Risk / Return Rank

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

PFLRX

PFLRX Risk / Return Rank: 29
PFLRX Sharpe Ratio Rank: 23
PFLRX Sortino Ratio Rank: 38
PFLRX Omega Ratio Rank: 46
PFLRX Calmar Ratio Rank: 20
PFLRX Martin Ratio Rank: 16

PEIYX

PEIYX Risk / Return Rank: 77
PEIYX Sharpe Ratio Rank: 78
PEIYX Sortino Ratio Rank: 76
PEIYX Omega Ratio Rank: 70
PEIYX Calmar Ratio Rank: 82
PEIYX Martin Ratio Rank: 79

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.

PFLRX vs. PEIYX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Putnam Floating Rate Income Fund (PFLRX) and Putnam Large Cap Value Fund (PEIYX). 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.

	PFLRX	PEIYX	Difference
Sharpe ratio: Return per unit of total volatility	1.34	2.59	-1.25
Sortino ratio: Return per unit of downside risk	2.52	3.68	-1.16
Omega ratio: Gain probability vs. loss probability	1.36	1.47	-0.11
Calmar ratio: Return relative to maximum drawdown	1.60	3.77	-2.18
Martin ratio: Return relative to average drawdown	4.30	14.71	-10.41
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PFLRX vs. PEIYX - Sharpe Ratio Comparison

The current PFLRX Sharpe Ratio is 1.34, which is lower than the PEIYX Sharpe Ratio of 2.59. The chart below compares the historical Sharpe Ratios of PFLRX and PEIYX, 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

	PFLRX	PEIYX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.34	2.59	-1.25
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.44	0.92	+0.52
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.93	0.82	+0.11
Sharpe Ratio (All Time) Calculated using the full available price history	0.96	0.53	+0.43

Drawdowns

PFLRX vs. PEIYX - Drawdown Comparison

The maximum PFLRX drawdown since its inception was -32.89%, smaller than the maximum PEIYX drawdown of -51.28%. Use the drawdown chart below to compare losses from any high point for PFLRX and PEIYX.

Drawdown Indicators

	PFLRX	PEIYX	Difference
Max Drawdown Largest peak-to-trough decline	-32.89%	-51.28%	+18.39%
Max Drawdown (1Y) Largest decline over 1 year	-1.98%	-7.18%	+5.20%
Max Drawdown (3Y) Largest decline over 3 years	-3.01%	-15.36%	+12.35%
Max Drawdown (5Y) Largest decline over 5 years	-6.95%	-15.36%	+8.41%
Max Drawdown (10Y) Largest decline over 10 years	-20.74%	-36.05%	+15.31%
Current Drawdown Current decline from peak	-0.26%	-0.30%	+0.04%
Average Drawdown Average peak-to-trough decline	-1.74%	-6.32%	+4.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.74%	1.84%	-1.10%

Volatility

PFLRX vs. PEIYX - Volatility Comparison

The current volatility for Putnam Floating Rate Income Fund (PFLRX) is 0.69%, while Putnam Large Cap Value Fund (PEIYX) has a volatility of 2.45%. This indicates that PFLRX experiences smaller price fluctuations and is considered to be less risky than PEIYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PFLRX	PEIYX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.69%	2.45%	-1.76%
Volatility (6M) Calculated over the trailing 6-month period	1.62%	7.95%	-6.33%
Volatility (1Y) Calculated over the trailing 1-year period	2.37%	10.48%	-8.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.83%	14.51%	-11.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.02%	17.00%	-12.98%

PFLRX vs. PEIYX - Expense Ratio Comparison

PFLRX has a 1.03% expense ratio, which is higher than PEIYX's 0.65% expense ratio.

Dividends

PFLRX vs. PEIYX - Dividend Comparison

PFLRX's dividend yield for the trailing twelve months is around 6.29%, more than PEIYX's 5.06% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PEIYX Putnam Large Cap Value Fund	5.06%	5.29%	7.06%	5.17%	7.31%	7.32%	6.20%	3.59%	5.96%	3.44%	2.51%	6.14%
PFLRX Putnam Floating Rate Income Fund	6.29%	6.69%	6.25%	7.27%	3.48%	2.63%	3.10%	4.56%	4.54%	3.69%	3.71%	4.45%

Frequently Asked Questions

Can I hold both PFLRX and PEIYX in my portfolio?

PFLRX and PEIYX have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PFLRX or PEIYX?

PEIYX has higher volatility (2.45%) compared to PFLRX (0.69%). In terms of maximum drawdown, PFLRX dropped -32.89% vs PEIYX's -51.28%.

Which has better risk-adjusted returns?

PEIYX currently has the higher Sharpe Ratio (2.59 vs 1.34), 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.